Selling Process


1Valuation

Pitching the price of your property correctly is a skill. Too high and you won’t receive any interest. Too low and the property sells for much less than it is worth. An accurate valuation pulls together information from several resources: the cosmetic, general structural condition and future potential of the property and the prices achieved for similar properties in the area. This information is reviewed and an appropriate asking price is offered to you.

2Selecting an estate agent

You should visit estate agents in and around the area you wish to move to. Register your requirements and budget with them and get on their mailing lists. Once you’re registered, they should then send out details of relevant properties to you. You can also keep an eye on the local market by browsing the local property press or property portals like Zoopla and Rightmove.

3Obtain an EPC

An Energy Performance Certificate (EPC) rates the energy efficiency of a property and its carbon emissions. As of 6th April 2012, the EPC details should be displayed on all property particulars and it is now a legal requirement to provide an EPC for most properties in England and Wales.

4Instructing a solicitor (conveyancer)

You will need to decide who will do your conveyancing. Conveyancing is the term used to describe the legal process you must go through when buying or selling a home. Conveyancing can be done by a solicitor or a licensed conveyancer. Find out what their fees are, what other legal costs are involved and when these are payable. We can recommend a solicitor if you do not have one.

5Presenting your property

Prospective buyers will come to view your property, by appointment through the estate agent. Ensure your home is tidy and clean. De-clutter and take down any personal photographs for viewings – it makes the property less personal to you and more of a blank canvas for those looking around.

6Marketing your property

To find the right buyer, your property needs maximum exposure across a wide range of media. We offer a range of important marketing benefits which will aid in getting you the best possible price. To raise the profile of your property, we always recommend these following methods:

Erecting a For Sale board – This is one of the most effective ways to advertise and attract buyers to your property. They really do work and they advertise your property 24 hours every day.

Email – The world of technology now enables us to send your property all around the world with a simple click of a button.

Direct marketing – We will contact any prospective purchasers who are registered with us and inform them of your property within minutes of receiving your instructions. Any details will be sent via all methods of communication, including emails and SMS alerts. Targeting a direct market of registered applicants ensures we don’t get time-wasters.

Website and property portals – Our website is updated instantly and full details of your home will be placed online as soon as details have been approved. In addition to advertising on our website, we also advertise in local press and through national property portals.

7Accompanied viewings

Equity London believes that flexible opening times are essential to maximise viewing opportunities for your home. We know that our customers need to work around their usual daily commitments, resulting in a large number of our clients viewing after work or at weekends. Accompanied viewings allow us to share our expert knowledge on your property to achieve competitive offers. The safety of our clients is paramount; therefore, we never allow prospective buyers to visit unaccompanied.

8Receiving an offer

All offers will be reported both verbally and in writing, and we will check all offers for their validity and ask for proof of funds. We will also conduct checks under the Proceeds of Crime Act 2002 and Money Laundering Regulations 2003 and ensure that any mortgage offer is verified. In the case of multiple offers, we will advise you on the best course of action.

We will always try to achieve the best possible price for your home and act in your best interests throughout the transaction.

9Offer agreed

Before an offer is agreed, we will check the buyer’s ability to purchase a property. We can also contact the buyer’s personal mortgage adviser to confirm their financial commitment. This minimises the risk of a purchase falling through.

At the point of a sale being agreed, we will liaise with both your solicitor and the buyer’s solicitor and prepare the memorandum of sale and we will write to all parties confirming the agreed details of the sale.

Your solicitor will request the title deeds from the lender (if appropriate). The solicitor will prepare the draft contract, which details the terms of the sale, and send it to the buyer's solicitor together with all relevant documents. The buyer’s solicitor will then start the preliminary checks. The title deeds and lease (if applicable) will be checked and local searches carried out.

Remember that, in England, an offer is not legally binding, so until contracts have exchanged, your buyer could change their minds without financial loss.

10Exchange contracts

At this stage, both parties become legally committed to the sale, and if it falls through from this point onwards, the deposit is forfeited. Contracts are signed by both parties and the solicitor requests the buyer’s deposit. A completion date is set and agreed upon by both you and the purchaser. Unless agreed otherwise (e.g. a simultaneous exchange and completion), the completion date can be anything up to 28 days from the date of exchange.

11Organise your move

Normally, both parties will want a short period of time between exchange of contracts and completion to organise their move. If you haven’t done so already, you should arrange all packing and removal duties, inform every one of your change of address and book any disconnections/re-connections of services for your new home. Remember, on the date of completion, the property is legally owned by the new buyers so allow plenty of time to move out. Don’t forget the cat!

12Completion

Completion occurs when all outstanding legalities have been completed and the balance of funds are transferred to your solicitor. The solicitor will let you know when this has happened and will inform us so that we can release the keys.

Residential sales

Moving home is not complicated, but can be a daunting prospect, and we recognise that your home is probably the largest single investment you will ever make. Buying and selling property is a very people-oriented business and good communications are essential for a successful move. Our aim is simple: To provide the best possible service, assist you from start to finish and communicate regularly throughout the whole process, whatever your property matter.

Residential lettings and property management

With so much legislative change in the lettings sector, it’s imperative that you use a professional and competent agent to make sure you are compliant with safety and legal legislation. Our clients vary from first time investors to some of the biggest corporate property companies in the UK. Our dedicated team will value an individual property or an extensive portfolio and apply the same level of professionalism to both. We deliver a tailored and personal service to each client’s specific needs.

Block management

We offer a hands-on block management service for large or small residential blocks. We tailor make our service on each management instruction dependent on their needs and manage all accounting, repairs and legal compliance.

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