In all honesty, selling a home could in most cases prove to be a daunting task and people sometimes do not get it right at first, they try and then try again. At this stage, you start to prep your home for viewings, putting the work in to make it attractive while getting prepared for the paperwork that is sure to come.
As such, sale progression is an important point in the process of the sale of your home and it typically starts from when an offer is made for your property and you have accepted. The process extends to signing contracts and completing on the sale.
As this is a crucial phase, we have put together a checklist that should come handy as the process of selling your home progresses…
· Choosing a solicitor or conveyancer- you want to kick-off your checklist by ensuring that you have your solicitor or conveyancer on board already. It is important to hire either of the two professionals to effectively deal with the paperwork that accompanies a home sale process. In choosing one, you want to make sure they come highly recommended or you can see visibly via their website or social media that they have a proven success rate. They will be the driving force, ensuring everything is chased up effectively, and there are no hold ups.
· Answer appropriate questions: It is usual for your prospective buyers to have questions concerning the property they are about to invest in and as such, you would do well to provide answers to possible questions so each prospective buyer can see how much of your specifications fit the bill of what they are looking for. Your agent can be of help here, knowing what they are likely to ask.
· Accepting offers: As offers begin to trickle in, your agent is under an obligation to inform you of each offer while guiding you to make a beneficial decision. If you do accept one of the offers you consider to be fair, your property will be taken off the market and processes to sign a contract and transfer ownership will kick-off.
· Create a draft contract: At this stage, you and your buyer have agreed that the property fits their bill and you want to sell for the price they are offering, you will discuss a timeframe in which the contract will be completed and every other outstanding issue you agree on. Surveys and checks will be made, and your agent and solicitor will chase up any resolutions which need to be completed before an exchange of contracts.
· Exchange contracts: Here, both parties have agreed on everything and contracts will be signed. Then you’ll both work together to set a completion date and hand over keys.
· Complete sale: To complete the sale, you will commit to move out on a certain date and also pay off the mortgage on the property. A mortgage company usually gives you the outstanding figure to be paid on your property and your agent can help you complete the process.
The final process involves you paying your agent for work done based on your prior agreement with them and the registration of the sale/ new ownership at the Lands Registry will be done.
Congratulations, you’ve sold your home!