When it comes to selling a property for the first time, it can be difficult to know where to begin. We’ve rounded up some top tips for first-time sellers to save you time and money.
I’m selling my property for the first time – what do I need to do?
Selling a property for the first time can be daunting. Figuring out finances, hiring solicitors, choosing an estate agent – these are just a few tasks you may need to carry out before you can sell. Even determining the amount you will sell your property for can seem impossible, as it’s difficult to put a price on somewhere like your family home. It makes it tough to sell a place filled with memories, but it’s important to be aware of the exact requirements when placing your property on the market. So, what exactly do you need to do?
Should I be selling at all?
It’s a good idea to decide if you even need to sell your property in the first place. If you’re moving because you need more space, why not consider building an extension and expanding your home? Have you also checked to ensure if you are in negative equity? It’s estimated that there are half a million properties in negative equity in the UK, so it’s important to confirm this to avoid any issues when wanting to move. Of course, not selling may not be an option – there may be several reasons it’s crucial you market your property.
What if it’s essential I sell my property?
Unfortunately, it may be unavoidable that you sell your home. If you are divorcing or separating from your partner, you might be concerned about dividing and valuing your house. You may be selling a property in probate, which can also lead to confusion about your entitlement, and can cost a lot of money. Only one in three people in the UK have a will, but if you are a named beneficiary, you may find you need to manage and maintain the family estate. This can be demanding of your time and resources. If you are looking to sell inherited property, you can get advice from companies such as Probate Purchasers, who will help sell your family estate effectively and efficiently.
What else is required?
There are several steps to take when selling a property. It may be useful to start by contacting a reputable estate agent – this may be more expensive, but they can take responsibility for advertising and negotiating a price for your property. Make sure to consider any repairs or decorating you will need to undertake before deciding on a price. Think about any fixtures and fittings you will be leaving behind, as these can boost the value of your home. You also may need to hire a solicitor or licensed conveyancer when you have accepted an offer to assist you with the legalities. Additionally, make certain you have all the relevant documentation required when selling your home, such as your title deed, an Energy Performance Certificate, and proof of identity.