Selling a house in 5 steps
Our informative 5-step house selling guide provides guidance on key stages of selling a property as well as practical tips and insights to help you navigate the process.
The steps
1
Deciding to move
Moving home is a big decision, and the last thing you should do is rush into things and be hasty. You need to consider the reasons why you are moving and determine if moving house will help you in the long term.
To help decide if moving house is the right decision for you, you may wish to produce a list of reasons why you want to move and prioritise each reason. Take some time to produce the list and don’t rush. When the list is complete, you should review the high priority reasons and determine if moving is the right answer for you.
Find out more
2
Find an agent
Finding an agent and getting an appraisal is the next step to selling your house. There are a couple of options for selling your property and these include appointing an estate agent to act for you, or you may consider selling it yourself via an online website.
It’s important to weigh up your options when choosing an estate agent, as the rise of online “no-frills” estate agents has created a broad spectrum of services. While traditional estate agents typically offered similar services, there are now varying levels of service available, ranging from advertising-only to fully managed sales.
Be sure to research carefully and consider how much of your own time you want to spend on the process. Generally, the less you pay, the more work you’ll need to do. You may choose to advertise the property with multiple agents, but this could result in a higher commission fee.
Top Tip: Estate agents charge you a fee for advertising your home, arranging viewings and assisting with the sales information; we recommend you search around for local agents and compare prices before proceeding.
Find out more
Should I use an online estate agents or a high street estate agent?
3
Prepare property
Once you have selected an estate agent and have obtained a valuation appraisal, the next step is to prepare your property. Preparing your property is a key step in the process and shouldn’t be overlooked, as it could increase the property’s price and attractiveness to potential buyers.
You should ask the estate agent or valuer if there is anything you could do to increase the price or attractiveness of the property. Ensuring the property is well presented is really important and this can be done by painting the walls, removing any significant stains or marks from floor coverings and tidying up the garden areas.
The estate agent or valuer may suggest more large scale improvements to the property and you will need to consider if the time and effort is worth the result. It is worth remembering that a property valuation is based on estimates and there is no guarantee that carrying out the work will result in a higher price.
Find out more
4
Confirm value and market
Once your property is prepared, you will need to obtain a more accurate valuation appraisal from an estate agent. This will determine the price at which the property is advertised, and it may differ slightly from the original appraisal.
After you’ve chosen an estate agent and agreed on the price to advertise, the agent will typically market the property online and in their shop (if they have one). It’s important to remember that the estate agent providing the highest appraisal may not always be the best choice. It’s better to be accurate, so if one estate agent suggests a much higher price than the others, you should investigate further and ask questions. The listing history of a property is visible online, and properties that have been marketed for longer periods or have had multiple price reductions can make potential buyers suspicious.
Arranging viewings
If the agent’s advert generates interest, they will arrange viewings. It’s best to provide the estate agent with the keys and arrange to be out during the viewings, allowing the agent to show potential buyers around. However, if you’ve chosen a no-frills package, you’ll likely need to arrange and conduct the viewings yourself.
TOP TIP: thoroughly clean the house and declutter as much as possible to make it seem more spacious and presentable.
5
Negotiate sale & legals
The viewings will hopefully lead to offers which must be passed on by the estate agent, and this will then lead into a negotiation phase. You should be patient when receiving the offers and try not to rush into making a decision
If you have chosen a fully managed sale from the estate agent, they will usually negotiate with the buyer for you. If you have gone for a basic option, then you may need to negotiate yourself.
SSTC – Sold subject to contract
Once you have reached a price you are happy with, the agent will usually change the listing to “sold subject to contract”. This essentially means that you have agreed to sell subject to all contractual matters being settled. It should be noted that under English law, you are still able to accept other offers, and equally the seller can reduce their offer price, right up until exchange of contracts, although these practices are generally frowned upon.
After a price has been agreed, the buyer’s bank (if they are buying with a mortgage) will likely commission a valuation survey and the buyer will instruct their conveyancing solicitors and a surveyor. The surveyors will sometimes come from the same firm but not always. The valuation surveyor will likely visit for a few minutes, or sometimes will only look from the outside, whereas a surveyor working for the buyer will spend a few hours at the property. You could choose to be home or out during the survey and this is your personal preference.
Conveyancing issues
If any issues arise during the survey or the conveyancing process, the buyer may choose to reduce their offer price to reflect any issues they were previously unaware of. You are not obliged to accept the reduced offer and can either counteroffer, or go back to market, although be aware of the inevitable delays and that any new buyers are likely to raise the same problems.
Once you have finalised and confirmed the price and the contracts have been drafted and signed, you can exchange contracts and complete. If you are not purchasing a new property, then the process is complete. If you are purchasing a new property, head over to our 10-steps to buying a property guide for more advice.
TOP TIP: Try to be as accurate as you can when listing the property. Any issues are likely to come to light during a survey or conveyancing process, so it is rarely worth trying to hide anything. This will reduce the chances of the buyer reducing their offer late in the process.