What are the stages of selling my house?

Common steps involved when you’re selling your house or flat

Interested in selling your home? You should review the below steps that are typically involved, which guide you through what you can expect from deciding to sell through to moving out:

Assess your financial situation

One reason that people move can be for financial reasons, because they either need the cash proceeds from a home sale or they believe the time is right to make a profit on their home, or perhaps some other money-related reason. Before selling you need to review your finances and have a plan for what happens when you sell. Will you rent for a while after selling and buy a new home at later date? Is selling your home contingent on buying a new property? These are questions that will be specific to your circumstances and which you need to ask before you make the decision to sell your property.

Valuing your property

After you decide that you want to sell your house or flat, one of the first important steps is figuring out the sale price at which you should list it. This is a crucial decision because setting a price that’s too high will deter many buyers, and setting a price that’s too low means you’re missing out on valuable profit you could otherwise make from selling. Regardless of whether you decide to sell on your own or enlist the help of an estate agent, you’ll need an idea of the value of your property before you start to look around for buyers.

Have your legal paperwork and other documents in order

It’s important when selling that you have all the necessary legal and other papers that are involved in a house sale. This includes major documents like the title deeds, but can also include some documents that homeowners might overlook even though they are important. An example is an energy performance certificate (EPC), which is a legally mandated document that describes the energy efficiency of your house. If you don’t have one of these, or you have an outdated version, it’ll be necessary to obtain a new EPC. You can check the EPC register to see if you already have a valid EPC certificate. Buyers will probably ask to see this certificate, so that’s why it’s vital to have it.

Working with an estate agent or auctioneer to list and sell your property

If you want to reduce the amount of work you have to put in to selling your home, you might want to contact an estate agent or an auctioneer. An estate agent will handle listing and marketing your property and holding viewings, and you’ll typically only have to get involved once there’s a serious purchase offer on your place. However, some properties listed with estate agents stay on the market for many weeks. An auctioneer will similarly market your home and take care of selling it at auction, which has the benefit of giving you a specific guaranteed date for when your home will sell.

Selling direct to a property buying company for a quick cash amount

As an alternative to selling through auction or with an estate agent, you could contact a company that buys houses and flats of many different shapes and various sizes for a cash sum – typically with no fees attached. This can significantly accelerate the selling process and leave you with more cash in hand once the sale is complete. It’s a good choice if you’re on a tight budget and time-frame for selling your home.

Hire a conveyancing solicitor to handle the complicated legal process

Selling a home necessarily involves a lot of convoluted paperwork that would require a massive amount of you time, and possibly money, to process. It’s recommended that when you have an offer and are ready to sell you hire a conveyancing solicitor who knows how to do all the research and drafting of paperwork necessary for the sale process. It will save you significant stress in the long run when selling your home.

Exchanging contracts and transferring ownership of your home

The final stage in the home selling process is typically what’s known as the exchange of contracts. This is when you, or your hired solicitor or other licensed professional, have sorted out and signed all the relevant legal forms that commit the buyer to purchasing your home. After this has happened and the funds for the purchase have been deposited in your account, you’ve successfully sold your house and it’s time to move out and on to whatever your next location might be.