Selling a Property

Selling a property can be a daunting process. But we’re here to make it hassle-free, and we’ll be by your side every step of the way.

Marketing a Property

You can sell your property by

speaking to an estate agent, with fees usually calculated as a percentage of the sale price (typically 1–3.5%)
advertising in the property pages of local newspapers
advertising on property websites such as Rightmove
putting up your own ‘for sale’ board

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How to prepare

Consider what you want to include in the sale. Fixtures and fittings such as fitted wardrobes and integral kitchen white goods are normally included. But other moveable items such as furniture, curtains and light fittings can be up for negotiation too.

Pull together useful documents and facts about your property which the buyer will need. These include

title deeds
planning permission documents
building regulations certificates
gas and electric check certificates

guarantees, including NHBC, windows and damp proofing
council tax and utility bills
buildings and contents insurance documents
service charges and ground rent bills where relevant

The offer

Once you’ve found a buyer and accepted their offer, it is ‘subject to contract’. This means you can change your mind and accept a higher offer if one comes along.

Likewise, the buyer can withdraw at any time until exchange of contracts. This might be because they are unable to obtain a mortgage, a structural issue has arisen, or they have simply changed their mind. As such, if you’re selling the property privately, keep the names and addresses of everyone who makes an offer in case the sale falls through.

If you have a mortgage

Firstly, find out how much your outstanding mortgage is and if there are any early redemption penalties or administration fees. You need to have a rough idea of how much your house is worth so you can calculate how much money will be left after you have paid the mortgage.

If you’re buying a new home as well, consider what size mortgage you will need based on the amount you might receive from the sale.

The legal process

A solicitor must complete the legal aspect of selling your property. They will only start work once you have a formal offer.

When you have instructed your solicitor, you need to complete a number of questionnaires which can include the following.

Property information form

This general questionnaire asks about boundaries, disputes and complaints (such as reported noise issues or boundary disputes), any known proposed developments (such as motorways), any building works that have been carried out (such as the building of a conservatory), council tax amounts, utilities, sewerage, moving date requirements, etc.

Leasehold information form (where relevant)

This general questionnaire asks about the cost of ground rent, service charges, the details of any management company, details of any notices received in respect of repair or maintenance, any complaints received, etc.

Fittings and contents form

Here you detail which items at the property you would like to include in the sale, such as carpets, curtains, furniture, etc.

You must complete these forms truthfully and to the best of your knowledge. If it later becomes apparent that you have not been fully truthful, you may have to pay compensation. Your solicitor will use the information to draw up a draft contract, documenting things such as who is selling the property, who is buying it and how much the purchase price is. A contract package containing all the relevant information will then be sent to the buyer’s legal representative for review.

The buyer’s legal representative might ask questions in response to the contract package. You should try to answer them as quickly as possible, with the help of your solicitor. They are known as pre-contract enquiries.

How long does it take to sell a property?

Once you have a buyer, it usually around ten weeks or so depending how quickly different stages of the process are completed.

How and when payments are made

The deposit

Once all pre-contract enquiries have been satisfied, and you have signed the contract, the sale will move towards exchange of contracts. At this point the buyer is required to pay a deposit to your solicitor or to be held by their solicitor, often 10% of the purchase price.

Once the exchange has taken place, both parties are committed to the sale. If the buyer then withdraws, you are allowed to keep the deposit.

The outstanding amount of the purchase price

Your solicitor will receive the balance purchase price from the buyer and will provide this, together with the deposit.

Other payments

You will also be required to pay

the remaining amount you owe on any mortgage (which your solicitor will organise)
estate agent fees
legal costs

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Other things to consider

You should inform your utilities companies and other suppliers (such as gas, electricity, phone, TV and broadband) that you are selling the property and ask for any final meter readings to be made on the day of completion. You should also inform your local council so final council tax calculations can be made.

On the completion date, you must arrange to leave the house empty and to hand over all the keys, either via the estate agent or directly to the buyer.