How to sell your property
19 chronological tips on agents, valuations, removals and more
Selling your home can often seem as overwhelming as the property itself. It involves much more than just determining your asking price. This guide presents 19 essential tips, arranged roughly in the order you’ll need them. We cover everything from assessing your home’s value and evaluating estate agents to handling removals and obtaining energy performance certificates. Our aim is to streamline the process and reduce the stress of selling your home.
This guide is all about selling the property you’re living in now. If you’re looking to sell a buy-to-let property, there may be some tax implications (such as capital gains tax) which we won’t run through here. For more information on this, see the HM Revenue & Customs website.
Selling a home: our 19 top tips
These suggestions are generally arranged in chronological order, but feel free to adapt them as needed, especially if you’ve already begun the process.
Let’s dive in…
1 – Check when your current mortgage deal ends
Check when your current mortgage deal ends (as you might have to pay a fee to move). Before proceeding with any actions, review your mortgage terms to determine if there are any penalty fees associated with relocating.
- If you’re currently on your lender’s standard variable rate— which is the rate your mortgage defaults to after a fixed-rate or tracker period concludes—there should be no penalty charges.
- If you’re benefiting from an introductory mortgage rate, check if it’s ‘portable.’ This feature could allow you to relocate, provided your lender approves the new property and its purchase price, and you meet their affordability criteria. If everything checks out, you can transfer your mortgage to the new home without incurring additional fees, even if you’re currently under a fixed or tracker rate.
- If your mortgage isn’t transferable and you’re still benefiting from the initial low rate, you’ll probably face an early repayment charge if you decide to relocate. This fee usually ranges from 1% to 5% of the outstanding mortgage balance, so the cost to move can be quite significant. For instance:
– A 2% early repayment charge on a £226,000 mortgage would be £4,520.
– A 3% early repayment charge on a £226,000 mortgage would be £6,780.
– A 5% early repayment charge on a £226,000 mortgage would be £11,130.
Although penalty fees can be substantial, they might be justifiable depending on the interest rate available for a new mortgage. To get an estimate, input the details of your current mortgage into our ‘Ditch Your Fix?’ calculator. If the calculator indicates that the expense of abandoning your current mortgage is too high, it might be wise to delay making a move for the time being.
2 – Think about your next move
Once you’ve confirmed that you won’t face a hefty early repayment penalty, it’s time to plan your next steps. Reflect on your reasons for selling and decide on your approach. Typically, you have three choices:
- Remain a homeowner (selling to buy immediately). Put simply, you aim to sell your property in order to immediately purchase another one, whether that involves upgrading, downsizing, or moving to a new location.
The benefit of this method is that it consolidates everything into a single process—utilizing the same conveyancer or solicitor for both transactions means you only need to relocate once. However, this approach can be quite stressful and might place you in dual chains, potentially making you a less appealing buyer or seller.
In addition to the selling tips provided in this guide, you should also review our Home Buying Timeline guide.
- Move into temporary accommodation (selling to buy later). In other words, you’ll be relocating to a temporary living situation, like a rental, while you sell your existing home and purchase a new one.
This approach might be ideal if you’re moving and haven’t decided on your permanent residence yet. Although it involves relocating twice, it alleviates the pressure of finding the perfect property right away and allows you to be in a chain-free position when purchasing, which can be appealing to sellers.
On the downside, you’ll need to consider the cost of renting if that’s your plan, along with the possibility of being committed to a fixed-term lease. Additionally, house prices might increase by the time you’re ready to buy, and you’ll need to figure out where to store the proceeds from your sale in the interim (you can benefit from six months of Temporary High Balance Protection).
- Leave homeownership (selling with no view to buy). In other terms, you’re transitioning to a long-term living situation that doesn’t involve owning property, such as renting, relocating to another country, or staying with relatives.
There are no strings attached, and you’ll be free from mortgage obligations. Nonetheless, it’s important to plan for the lump sum you’ll get once your property is sold. If your goal is to generate retirement income, consider that instead of selling your home, you might opt for equity release, which allows you to remain in your current residence. Keep in mind, though, that equity release carries its own set of risks.
3 – Consider the OVERALL cost of selling
Selling a home can indeed be a costly process.
We’ll break down each expense you’ll encounter in greater detail, but in summary, you should account for the following: real estate agent fees, legal costs, energy performance certificates, moving expenses, and additional factors.
Here’s a rough estimate of the total costs involved in selling your home (note that these costs can rise considerably if you’re also purchasing a new property simultaneously):
Typical cost of selling your home based on £274,000 property
PRIVATE SELLING (DIY) | ONLINE AGENT | HIGH STREET AGENT | |
Agency fees | £0 – £400 | £0 – £1,500 | £2,450 – £10,000 |
Conveyancing fee | £500 – £1,500 | £500 – £1,500 | £500 – £1,500 |
EPC | £50 – £120 | £50 – £120 | £50 – £120 |
Removals | £400 – £1,200 | £400 – £1,200 | £400 – £1,200 |
TOTAL | £900 – £3,250 | £1,200 – £4,500 | £3,400 – £12,700 |
4 – Is the length of your lease going to be a problem?
Check if it’s worth paying to extend your lease BEFORE you sell. Properties with long leases are generally more appealing to buyers compared to those with shorter leases. If you’re planning to sell a leasehold property (if you’re unsure about the differences, check our guide on leasehold versus freehold), it might be worth considering extending the lease to enhance your selling prospects.
A key point to remember is that extending a lease becomes considerably more costly once it falls below 80 years. Therefore, if your lease has between 80 and 90 years left, potential buyers might account for this future expense when making their offers. For leases with less than 80 years remaining, securing a mortgage could be challenging for buyers, even if they are interested in making a purchase.
Renewing a lease might set you back thousands of pounds (or even more), but remember that a longer lease term can significantly enhance your property’s value, often outweighing the initial expense. Check out our comprehensive guide on whether to extend your lease, which includes:
- Why lease lengths are so important.
- How much it costs to extend a lease and how much added value a good lease brings.
- Step-by-step on how to extend a lease.
If your lease is nearing its end and you decide not to renew it, be ready for prospective buyers to use this as a bargaining chip to negotiate a lower price. This is because buyers typically won’t be able to extend the lease themselves until they have owned the property for a minimum of two years. If a buyer demands that you extend the lease before finalizing the sale, be aware that the legal process can take several weeks, or even longer.
Regardless of the situation, when selling your property, ensure you have comprehensive information about your lease readily available, including its duration and details on any service or maintenance fees you are responsible for.
5 – Spruce up your home to attract buyers
Spruce up your home to attract buyers (and possibly add to the price). When you’ve made up your mind to sell, the next step is to prepare your home for the market. Even well-maintained properties can show signs of age, so taking some time to spruce things up can be crucial. To boost your chances of a swift sale at a great price, consider tackling these simple improvements before getting a valuation and scheduling viewings:
1. Clean up the property’s exterior
Initial impressions are crucial, often referred to as ‘curb appeal.’ To enhance the exterior of your property, consider these cost-effective strategies that can potentially increase its value…
- Mowing the lawn.
- Cleaning your windows.
- Getting your front door and driveway spick and span.
- Well-maintained fences and walls.
2. Sort out the interior
Basic tasks like cleaning, organizing, and decluttering—not to mention the potential to earn some extra money—can significantly enhance your home’s appeal to buyers. For instance:
- Highlight the unique features that initially drew you to the property.
- Reduce personal touches to help potential buyers envision themselves living there.
- Ensure each room’s function is immediately clear.
- Place mirrors in smaller spaces, such as hallways, to create a sense of light and openness.
- Eliminate any unwanted odors.
- If it’s chilly, light a fire or turn up the heat to make the space feel inviting.
How much should I spend on improvements?
Calculate carefully to determine which investments will genuinely boost your property’s value and which might be a waste of money.
For instance, renovating a kitchen can be quite costly, averaging around £8,000 and often more. In contrast, simpler updates like painting and replacing cabinet handles with modern ones are both inexpensive and easy to implement. Nonetheless, a full kitchen overhaul can significantly increase your property’s value, potentially by 4-6%, while a new bathroom might enhance its value by approximately 2-3%.
Keep in mind that some buyers are looking for a fixer-upper, so making a room exactly as you envision it might not always be the best approach. If there are structural problems, address these before focusing on cosmetic improvements, as structural issues can be major turn-offs for potential buyers.
6 – Sort an energy performance certificate
You’ll need to get an energy performance certificate. When you decide to sell your property, it is essential to have an energy performance certificate (EPC) ready, as this is a legal obligation. The EPC evaluates and rates your property’s energy efficiency, with A being the highest rating and G the lowest.
A certificate is valid for 10 years. You can easily check if yours is still valid by checking the EPC register. If your EPC has expired, you’ll need to sort a new one.
Purchasing an EPC will typically set you back between £50 and £120, depending on your property’s size and location. You can either arrange one directly with an energy assessor or pay your estate agent to sort it out for you.
These days, you’ll probably find energy efficiency is on an increasing number of buyers’ wish lists, as a poor rating means costly heating bills. Our Housing and energy grants guide lists ways of finding free cash to improve your home’s efficiency.
7 – Get your home valued properly
Get your home valued properly to save time and money. After perfecting your property’s appearance, the next crucial step is obtaining a valuation. At this point, thorough research is essential. An inaccurate valuation can result in your home lingering on the market for an extended period or selling for significantly less than its true value.
Here’s our recommendation:
1. Check online first. Before you get an estate agent through the door, check recent sold prices in your area using Rightmove or Zoopla. Try to compare your property to those of a similar size and spec (previous property adverts which include photographs should help with this).
After that, use an online valuation tool such as that on GetAgent* to gauge what your property might be worth at this moment in time. Check to see if this figure differs from recently sold prices.
Understanding recent sales trends is crucial for accurately pricing your home. By reviewing current listings and utilizing online valuation tools, you can set a competitive price for your property. This approach is more effective than allowing personal pride regarding your home’s condition to skew your judgment and result in an inflated price.
2. Then get estate agents in. After researching online, invite at least two or three agents to assess your home’s value. Keep the valuations from other agents confidential, as revealing them might influence their estimates. Remember, you are not obligated to use any of these agents for the sale itself.
To gain a well-rounded perspective, consider obtaining valuations from various types of agents: a major high street chain, a smaller local firm, and an online service. Also, request documentation on recent sales in your neighborhood to support their evaluations.
If agent 1 values your property at £250,000, agent 2 at £280,000 and agent 3 at £350,000, the most realistic value would be £300,000.
Diverse valuations are quite common. We’ve seen instances where agents provide estimates that vary by as much as £100k. In such situations, choosing a middle-ground figure often provides the most reasonable approach.
For additional guidance on valuing your home, check out our Free House Price Valuations guide or explore the extra tips below.
Ensure you price it realistically
This estimate provides a guideline for how your home should be priced on the market, but ultimately, setting the price is your decision. Be aware that some real estate agents might inflate the asking price to secure a higher commission, and if the valuation is set too high with no interest from buyers, they may later recommend lowering the price.
Setting a realistic price for your home is crucial. Overpricing can deter potential buyers, while underpricing might not fetch the full value. If priced correctly, you might attract several interested buyers, leading to competitive bidding that could increase the final sale price.
If you need a swift sale, consider pricing your home at about 90% of its market value. This approach can be more efficient than waiting for a sale at the original asking price or opting for a quick sale company, which typically offers around 75% of the market value.
Keep in mind that not all properties sell at their asking price. While you might be lucky and achieve the full asking price or even more, don’t be disheartened if the final sale price is lower.
Consider factors that affect the asking price
The value of a property and its sale price don’t always align perfectly. Factors such as the number of bedrooms, the property’s size, and its location significantly impact its value. However, other variables like the season in which you sell can influence the price.
The Homeowners’ Alliance and Emoov, an online estate agent, note that the property market tends to slow down before Christmas and during the summer holidays. This slowdown often leads sellers to reduce their asking prices. Optimal times to sell are typically early in the year, during spring, or in early autumn.
Additionally, national and international events can affect property prices. Local developments, such as new rail connections or being in a desirable school district, can boost property values. Proximity to popular amenities, like a Waitrose supermarket, can also increase a property’s worth, a phenomenon sometimes referred to as ‘The Waitrose Effect.’
If you’re having difficulty selling your property, especially if it’s in a market saturated with similar listings, a slight price reduction could potentially draw more interest from buyers. Additionally, if you need to sell quickly, this approach might be worth considering.
8 – Decide how to advertise: DIY, online or high street agent
Deciding how to advertise is one of the biggest decisions in the process. Choosing how to sell your property is a critical decision, and while there’s no definitive right or wrong approach, you generally have three main options: handling it yourself (DIY), using an online agent, or opting for a traditional high street estate agent.
The best choice will hinge on your personal situation, such as whether you have limited time or are uncomfortable with the idea of showing your home to potential buyers on your own. If you’re willing to manage most of the process independently, you could save a significant amount of money by skipping an agent.
For instance, selling a property valued at £300,000 might cost you only a few hundred pounds if you go the DIY route, compared to a £6,000 fee if you choose a high street agent charging a 2% commission. We’ll delve into a detailed comparison of these options below, but to summarize…
DIY
- The cheapest option. You choose how much you want to spend.
- Costs might include ‘for sale’ sign, platform for property advert.
- You’re the expert, so you host the viewings.
- You’re in control of whole process.
ONLINE
- Cheaper, but you’ll have to pay upfront.
- Price doesn’t always include extras, eg, hosted viewings.
- Online may not be local to your area.
- You can follow & control processes via app / online.
HIGH STREET
- Typically costs more, only pay once sold.
- Price you pay covers everything incl hosted viewings & ‘for sale’ signs.
- High street agents more likely to be local.
- Agent in control of whole process.
9 – DIY selling is the cheapest option (but most labour-intensive)
Before opting for the conventional approach of hiring an agent, have you thought about selling privately (i.e., handling it yourself)? Although it requires more effort, managing the sale independently can result in substantial savings.
One downside to private selling, however, is that you can’t advertise on platforms such as Rightmove, Zoopla or PrimeLocation. So, unless you already have a private buyer lined up, you’ll need to advertise the property yourself.
Think about leveraging your local media, noticeboards, and online platforms like TheHouseShop* (which is free) to create and manage your own advertisement. This way, you can interact directly with potential buyers. You could even try your luck generating interest on Facebook – this help can word spread at the very least – or post your ad on Mumsnet via your ‘local’ page.
Here are some other handy tips for selling privately:
- Be prepared to host your own viewings. When selling your home privately, you’ll be responsible for arranging and conducting viewings yourself. This can actually be an advantage, as you are the most knowledgeable person about your property and can provide potential buyers with a detailed insight into what living there is like. However, it’s important to be mindful of safety when inviting strangers into your home. If you’re planning to handle the viewings on your own, make sure to inform a neighbor or friend in advance, and let them know when you’ve finished the appointment.
- Source a ‘for sale’ sign. To enhance your home’s exposure, consider installing a ‘for sale’ sign. If you’re not confident in your DIY abilities to create one yourself, there are plenty of pre-made options available for purchase on eBay and Amazon*, with prices ranging between £15 and £30.
10 – You can pay extra for an online agent to do most of the work for you
Looking to sell your property but prefer not to pay the full price? If you’re willing to handle some tasks on your own, opting for an online agent might be the right choice.
Typically, you’ll need to pay a one-time fee in advance, unlike traditional high street agents. However, some online agents allow you to delay payment. Expect to spend up to £1,000 with an online agent, although this amount could increase if you prefer not to conduct viewings yourself.
Choosing an online agent can save you thousands compared to traditional agents, though the service may not be as comprehensive or personalized. Paying upfront carries the risk of losing that money if your property doesn’t sell, and some believe this could mean online agents might not be as motivated to put in extra effort.
Tips for using an online agent
Watch out for costly extras and different package levels
Typically, the initial fee covers a basic package. If you want additional services like hosted viewings or an energy performance certificate, you’ll need to pay extra. Some agents offer premium packages that bundle most of these extras and additional benefits.
Before you begin selling, consider all the features you want from an online agent and review what’s included in their basic offering. Look into the costs of any additional services and evaluate whether opting for a premium package might be more cost-effective.
Hosted viewings are not normally included in the basic service
Contrary to traditional high street estate agents, hosted viewings are typically not part of the standard service provided by online agents. To arrange for hosted viewings, you’ll need to incur an additional cost, unless you’ve opted for a premium package that includes this feature.
According to online agents we’ve consulted, a lot of sellers choose to conduct viewings themselves. If you have the option to handle viewings personally, you can save money. However, if you decide to go solo, make sure to inform someone of your plans and follow up with them afterward.
Check reviews before choosing an agent
To quickly compare the basics of the various online agents and what they offer, see The Homeowners’ Alliance tool. Check Trustpilot and All Agents for user reviews.
Even though they may not have a physical presence on the high street, online estate agents usually provide a local property specialist to carry out the initial valuation. The degree of local expertise varies depending on the agency and your location, so it’s wise to verify this before committing.
What extra legwork does choosing an online agent involve?
The level of additional effort required varies among online agents.
While some online agents offer photos and floor plans, not all do. In many cases, you may need to handle the valuation and marketing aspects for the property that will be featured in advertisements and online listings.
If you don’t already have a valid energy performance certificate, you will need to arrange one unless you opt to have an online agent handle this for you.
You will probably also need to schedule and conduct property viewings yourself, unless you’ve paid the agent to take care of this.
Similarly, you might be responsible for negotiating the price unless you’ve arranged for the agent to manage these negotiations on your behalf.
Who are the online agents?
Here’s a rundown of some of the main online agents:
Online estate agents
Agent name | Basic package cost | What’s included | NOT included | Optional extras |
Yopa | £999 (1) | – Photos and floorplans
– For sale sign
– Local agent with you throughout process
– Listing on Rightmove |
– Hosted viewings
– Energy performance certificate
– Premium listings
– Listing on Zoopla |
– Hosted viewings (£300)
– Premium listings (£99)
– Energy performance certificate (£99) – Zoopla listing (£200) |
Griffin Property Co | £245 (2) | – Valuation
– Listing on Rightmove, Zoopla, On The Market and Prime Location (3)
– Your own sales assistant on hand to support
– Buyer verification |
– Photos and floorplan
– Energy performance certificate
– Premium listings
– Hosted viewings (not available)
– For sale sign |
– Photos and floorplan (£200)
– Energy performance certificate (£75)
– Premium Rightmove listing (£75)
– For sale sign (£100) |
Visum | £129 (4) | – One month’s marketing
– Listing on Zoopla, Primelocation, OnTheMarket
– Access and edit your advert at any time
– All enquiries go directly to you |
– Photos and floorplan
– Energy performance certificate
– Rightmove listing
– For sale sign
– Hosted viewings (not available) |
– Photos (£159)
– Floorplan (£79)
– Energy performance certificate (£79)
– Rightmove listing (must purchase upgraded package)
– For sale sign (£75) |
Purplebricks | Free (5) | – Valuation
– Expert support along the way
– Sale negotiation help
– Listing on Zoopla and other platforms |
– Photos and floor plan
– Rightmove listing
– Energy performance certificate
– Hosted viewings
|
– Photos and floorplan (£699)
– Rightmove listing (£399)
– Hosted viewings (£799)
|
(1) Yopa also has a premium package (£1,499) and an ultimate package (£1,999), both of which include hosted viewings.
(2) Griffin also has a £795 ‘no sale, no fee’ package. (3) Rightmove listing is on a monthly rolling basis, the first month being free and costing £50 per month thereafter. (4) Visum also has a plus package (£159) and a premium package (£499), the latter which advertises your property for six months. (5) Purplebricks also has an enhanced package (£899) and a premium package (£1,499), the latter which includes hosted viewings. |
11 – Want the full works? High street estate agents do it all for you – but you’ll pay a premium
If you prefer a hands-off approach and don’t mind paying for convenience, opting for a high street estate agent is your best bet. This method is still the most popular way to market a property.
Typically, these agents offer a comprehensive range of services, often including energy performance certificates and guided viewings as part of their standard package. They also generally offer a more personalized experience, serving as a go-between for you and prospective buyers.
That said, this higher level of service comes with a cost…
Traditional high street agents are MUCH pricier than online agents. You typically pay a percentage of the agreed sale price – between 0.75% and 3% – once the property has been sold, though you pay nothing if it doesn’t sell.
Identify the most active and seasoned agents in your vicinity by exploring local media outlets and searching online for agents with a high volume of listings. Inquire about how many properties they’ve sold in your neighborhood in recent months and their fees.
Personal referrals are always beneficial, and agents with a physical presence on the high street can also provide added visibility by showcasing your property in their office window, attracting potential buyers.
Quick tips for using a high street agent
Try haggling to cut costs
As we’ve mentioned, traditional estate agents typically charge a percentage of the agreed sale price, usually ranging from 0.75% to 3%, plus VAT. Some may opt for a fixed fee instead.
For instance, selling a property for £300,000 could cost you between £2,700 and £10,800 if your agent charges a percentage-based fee. The expense increases with higher property values; for example, a 3% fee plus VAT on a £500,000 home would amount to £18,000.
If you’re working with a percentage-based agent, the Homeowners’ Alliance advises aiming for a 1% + VAT fee, which would cost approximately £3,600 on a £300,000 property and around £6,000 on a £500,000 one.
Consider using multiple agents
There are two main types of agency contracts: sole agency and multi-agency.
A sole agency contract, where a single agent is responsible for marketing your property, typically comes with lower fees. However, since relying on just one agent might slow the process, it’s advisable to include a clause in the contract that allows you to bring in additional agents if the property hasn’t sold within a set period—usually six to eight weeks.
On the other hand, while some believe that having multiple agents increases the chances of selling, a multi-agency approach can have drawbacks. Listing your property with several agents may result in it appearing multiple times on platforms like Rightmove and Zoopla, which can give the impression that you’re eager to sell. If buyers sense this urgency, they may be more inclined to make low offers. Additionally, with high commission rates, agents might push you to accept a lower price.
Not sure who your local estate agents are?
If you’re seeking a comprehensive overview of estate agents in your area, a good starting point is GetAgent, a free-to-use platform.
By entering some basic details about the property you wish to sell, the platform will generate a list of six recommended estate agents. These recommendations are curated based on data such as:
– Average sale time. How long it takes for an agent to arrange a sale.
– Properties listed. The number of local properties the agent is advertising.
– Percentage of asking price. How close the agent typically gets to the asking price.
GetAgent currently collaborates with approximately 7,000 estate agents. While the platform strives to offer comprehensive information about these agents, including pricing and additional services, it may not have complete data for every agency.
It’s important to note that if you engage with an estate agent via GetAgent, your ability to negotiate could be somewhat limited, as the agent is required to pay a fee to GetAgent for the referral.
12 – Appoint a conveyancer / solicitor
Find yourself a conveyancer / solicitor. Conveyancing refers to the legal procedure involved in transferring ownership of a property from one individual to another.
Both solicitors and conveyancers are trained professionals who are insured to manage the legal aspects of property transactions. Their responsibilities include handling paperwork, conducting Land Registry and council searches, drafting contracts, and managing the transfer of funds. The key distinction is that conveyancers specialize specifically in property law.
It’s important to note that you aren’t obligated to use the solicitor or conveyancer recommended by your estate agent, as they may have a financial arrangement with them, potentially leading to higher costs for you.
To expedite the lengthy process of selling your property, it’s advisable to arrange a conveyancer or solicitor before listing your property on the market. For further guidance on finding conveyancers, refer to our Buying a Home Timeline guide.
How much does a conveyancing solicitor cost?
Solicitor and conveyancer fees can vary widely, generally ranging from £800 to £1,500. When evaluating different options, it’s important to request a detailed breakdown of what each firm’s quote covers.
In addition to the base fee, you should expect to incur additional costs for:
- Title deeds. Proof you own the property, normally held by HM Land Registry (approx £10 to £20).
- Bank or telegraphic transfer (CHAPS). Unless you’re remortgaging with the same lender, your funds are transferred to your bank (£20 to £50).
- Money-laundering checks. Ensuring the buyer and seller are who they say they are (approx £10 to £20).
Keep in mind that this represents only the usual conveyancing cost when selling a property. If you’re purchasing a property simultaneously while selling another, you’ll incur additional conveyancing fees.
Can I find a conveyancer / solicitor online?
Similar to estate agents, conveyancing services can be found online. These online options often advertise lower costs compared to traditional high street firms, but be aware that you may not have a dedicated contact person throughout the process.
Make sure to review feedback for both online and traditional conveyancers and solicitors. If you know anyone who has recently relocated, ask if they can recommend their legal representative.
Choosing a conveyancer you’re comfortable with is crucial, as you’ll likely be in frequent communication with them. Opting for an unreliable solicitor could significantly delay your transaction and even jeopardize your sale. Therefore, thorough research is essential.
13 – Accept the ‘best’ offer
If you’ve set a fair price for your property and made it more appealing, you should expect to receive at least a few offers from interested buyers. Ideally, you might even be overwhelmed with offers, though there’s also a possibility you might not receive any, in which case you may need to think about reducing your asking price.
When offers come in significantly below your asking price, you have the option to either reject them or prompt the buyer to submit a more competitive offer.
If you’re working with a traditional estate agent, they will handle all bidding and negotiations on your behalf, acting as an intermediary to communicate rejections, compromises, and acceptances.
While it might seem logical to accept the highest bid, consider other factors such as whether the buyer is chain-free, their ability to close quickly, and their likelihood of completing the purchase. Building a good rapport with the buyer can also make the process smoother, as dealing with a contentious buyer can add unnecessary stress.
Additionally, assess the buyer’s financial stability to ensure they have the funds to follow through with the purchase. It’s also beneficial to determine how easily you can communicate with them directly, rather than through solicitors, as direct contact can streamline the process and save time.
14 – Negotiate the finer details before exchanging contracts
Before finalizing the sale and becoming legally committed to it, you’ll need to settle some last details with the seller. This process will involve reaching an agreement on:
- Any discount off the selling price for issues flagged by surveys. If a survey highlights significant structural issues, the buyer could leverage this information to reduce the asking price. In a more extreme scenario, they might even consider withdrawing from the deal altogether.
- Any fixtures any fittings you’re leaving behind / taking with you. Will you be bringing the curtains with you, or are you planning to leave them? What about the furniture, mirrors, kitchenware, or appliances—are you okay with leaving those behind? If there are items you’re willing to part with, you can request that the seller pay extra for them.
- The completion date. This is the day you’ll transfer the keys, officially making the buyer the new owner of your home. You’ll need to coordinate a date that suits both parties.
After addressing all these aspects, you’ll be nearly prepared to exchange contracts. However, exercise caution: once the exchange occurs, you become legally obligated, and withdrawing afterward could result in financial penalties.
15 – Compare removal companies and prices
Once you’re set to examine removals and relocate your possessions, the process of selling your home will be well underway.
Hiring a removals company generally costs around £1,000, based on information from Compare My Move. However, if you’re relocating across the country during the busy season, this cost can rise to approximately £1,500. Opting for a DIY move could help you save a significant amount of money, if feasible.
Several factors influence the cost of removals, including:
- Size of van (volume of belongings).
- Distance between pick-up and destination (a 150-mile journey will be more expensive than a 15-mile journey).
- Time of day and time of year (weekends are typically more expensive).
- Who does the packing (you or removal firm).
- Packing materials.
- Special and/or fragile items.
- Restricted access/difficult entry.
Obtain quotes from several companies and then request a detailed cost breakdown from your selected firm. This will allow you to explore potential savings, like packing the items yourself.
Quickly compare a few quotes using the Compare My Move or reallymoving websites.
16 – Be prepared for any final bills
Don’t forget any final bills you might need to pay. Receiving your final energy and water bills can sometimes be quite a surprise, particularly if you’ve been relying on estimated charges. If your energy provider has miscalculated your usage, you might end up facing a substantial bill, so it’s wise to have a contingency fund set aside for such situations.
Additionally, be sure to keep a record of your final gas and electricity meter readings. This way, you have the necessary evidence to dispute any potential overcharges.
Also don’t forget niggly extras such as redirecting your post, which normally costs from £36. This should be done in addition to changing the address that you have registered with the likes of banks, doctor’s surgeries, opticians, subscription providers, Government services, etc.
17 – Selling to buy? There’s significantly more leg-work involved
If you’re selling your property to relocate abroad or for renting, you’ve completed your main tasks and can bypass these concluding steps.
However, if you’re selling to purchase another property, it’s crucial to get your current property listed in advance to be considered a serious contender. This is because the most appealing buyers for sellers are typically first-time buyers, followed by those who have already sold their current home, and lastly, those who are still trying to sell their property.
When it comes to selling one property to buy another, the process generally unfolds as follows:
- Research areas / properties you like.
- Visit potential properties.
- Find one you like.
- Realise you won’t be taken seriously unless your home is on the market.
- Rush to get your home on the market.
- Simultaneously look at properties while people look at yours.
- Hopefully have an offer accepted on yours so you can…
- … place an offer on the one you like
Our guide to the home-buying timeline reveals that purchasing a new property typically spans from six weeks to eight months. Be sure to include this timeframe in your planning.
18 – There’ll be extra fees too if you’re selling to buy
Buying a property can be both taxing and expensive. These expenses come on top of the costs linked to selling a property, as outlined earlier.
For a comprehensive breakdown of the fees involved in buying a property, refer to our Mortgage Fees Guide. To summarize briefly:
- Mortgage arrangement fees. If you’re not paying with cash or transferring an existing mortgage to your new property, you’ll need to cover various fees when taking out a new mortgage. The most significant of these is usually the mortgage arrangement fee, which can reach as much as £2,000 in some instances. Additionally, you might also face booking and broker fees.
- Valuation fee. This fee is for lenders to assess the value of the property you’re purchasing. Typically, you should anticipate spending between £300 and £400, though there are occasions when this service might be provided at no cost. The amount can vary depending on the lender and the property’s worth, and it’s important to note that this fee is solely for the lender’s use.
- Survey. You have three options when it comes to surveys. A homebuyer’s report ranges between £500 and £1,000, while a comprehensive structural survey can reach up to £1,500. For new-build properties, a snagging report is a suitable choice, typically costing a few hundred pounds, though occasionally it might be offered at no charge.
- Solicitor / conveyancer fees. This’ll cover all the legal work associated with buying a house. Budget for £500 to £1,500.
- Searches. Local, drainage, and environmental searches are essential for identifying any potential concerns, like building control problems or nearby road projects. Your solicitor or conveyancer will handle these searches for you, which will typically cost around £300.
- Stamp duty. Typically, stamp duty is owed to HM Revenue & Customs on properties purchased for more than £250,000 in England and Northern Ireland (note that thresholds vary in Wales and Scotland). For comprehensive information on your payment obligations, refer to our Stamp Duty guide.
19 – Got a complaint? You should be able to raise it (and escalate – if necessary) for free
If you have a grievance regarding a company you interacted with during the sales process, you should be able to address this issue at no cost. Start by contacting the company directly to see if they can resolve the problem.
Should their final response not meet your expectations, you can escalate the issue without incurring any charges. Depending on the nature of your complaint, you have the option to escalate to:
- The Property Ombudsman or the Property Redress Scheme. All estate agents and online agents must be signed up to a redress scheme. Ask the agent or check online to see which of these two redress schemes it’s registered with, and follow the complaints procedure on the relevant website.
- The Legal Ombudsman. This is for unresolved complaints about legal firms, solicitors and conveyancers.
- The Financial Ombudsman Service. This is for unresolved complaints about a lender, such as your mortgage provider.