Should I sell?

Selling your home is a big decision. You should think about your motives for wanting to sell and see if there are other options available to you.

If you are looking to sell because you need extra living space, you could consider extending your current home. You may be able to borrow additional money from your mortgage lender to fund this and it could save you money and increase the value of your home.

If your current mortgage is too expensive, you should speak to one of our Mortgage Advisers before selling as we may be able to offer you a better deal. You can arrange an appointment by calling us on 0121 557 2551, visiting one of our branches or completing our online form.

You may benefit more from renting out your property instead, however you will need to speak to us regarding this as there may be extra fees involved.

Sometimes though, there may be no alternatives available to you. You may be looking to move to be closer to schools or family or you may just need a change of environment. 

So if you have your heart set on moving home, where do you start? The first thing you should do is consider the costs of selling your home.

Costs of selling

The cost of selling your home is dependent on how much it is worth and where you live. Some of the key costs are described below.

  • Estate agency fees: The most common method of selling a property is to use an estate agent. There will normally be a charge for advertising your home and this can vary from being either a percentage of the selling price or a flat fee. You should ring around get quotations as the costs can vary significantly, but bear in mind that the cheapest option is not always the best option.
  • Legal fees: You will have to instruct either a solicitor or licensed conveyance to complete the legal work involved with selling your home. Again, you should get a range of quotes for the work and decide upon the most suitable option for you.
  • Energy Performance Certificate (EPC): This is usually arranged through your chosen estate agent and shows the energy efficiency of your home.
  • Removal costs: Unless you have agreed to leave your furniture behind as part of the sale you will no doubt have to consider the costs of moving your belongings to your new home. Depending upon how many large items you have, you may need to consider van hire or the costs of employing a removal firm. Make sure to get comparable quotes and pick what is best for you.
  • Mortgage costs: You may have to pay an Early Repayment Charge to your existing mortgage provider if you are unable to port your existing mortgage product, or are within a mortgage product term. Many of our mortgages allow for porting, but if you need further detail please speak to an Adviser. Call 0121 557 2551 or complete our online form.

Preparing your home

Many people want a quick sale when selling their home. Buyers tend to look for space and are more likely to be able to visualise themselves in your house if you give them a blank canvas. Therefore it is important to get the basics right and make your home look as attractive as possible.

Kerb appeal
Ensure that the front of the house is presentable, this will be the first thing the buyer sees. Make sure your front garden or driveway are tidy and well maintained and ensure your windows and front door are clean.

Repairs and decoration
If there are any jobs or repairs that you've been putting off but need doing, make sure these are done beforehand to show that the house is well looked after and maintained. Neutral colours are more inviting to buyers than bold colours, so it may be worth giving your home a quick lick of paint. It is also important that your house is neat and tidy, make sure your sofas, carpets and appliances are clean. Remove any smelly bins and don’t cook any strong scented foods before a viewing.

Declutter and depersonalise
Having less things in a room can give the appearance of looking bigger and neater. Consider throwing away items you don’t need or tidying things into boxes and putting them into the loft.

Garden
Your garden is seen as an extension to the home, make sure it is neat and well-kept to look both entertaining and relaxing.

Mother and young daughter cleaning house

How much is your home worth?

You may want to get an idea of the value of your home. There are a few ways you can do this.

  • Visit the Zoopla website, they offer a service where you can get a free estimate on the value of your home.
  • You can arrange for an estate agent to visit your property and provide you with a valuation.
  • www.mouseprice.com is a website operated by the Land Registry and allows you to see what similar properties in your area have recently sold for.

Estate agents

Most people chose to sell their house using estate agents as they have local property knowledge and experience, they will deal with the photography and advertising of the property and will arrange viewings and answer potential buyers’ questions. This service doesn't come for free though and they will charge a fee to sell your home for you.

There are some important things to ask when choosing an estate agent.

  • What asking price are they looking to achieve?
  • How much will they charge and what does this cover?
  • How and where will they advertise your property?
  • What type of contract will they use?

You will need to sign a contract with the estate agent, the types of contracts are detailed below.

  • Sole selling: Only your chosen estate agent will be able to sell your home. Meaning if you find a buyer yourself you’ll still have to pay the estate agency fees.
  • Sole agency: Only your chosen estate agent will be able to sell your home, however if you find a buyer yourself you don’t have to pay their fees.
  • Joint agency: Two estate agents can advertise your home, the fees will then be split between the agents regardless of which one finds a buyer.
  • Multiple agencies: You can have multiple estate agents selling your home, however only the agent who sells your home will get a fee.
Couple viewing a house

Viewings

It is wise to leave arranging viewings to your estate agent, however there are some things to keep in mind. Make sure you remove any pets from the house as viewers may be allergic to them and pet hair will make the property look untidy. It is always beneficial to leave any parking at the property available to the buyers as it will help them to visualise your property as their new home.

Accepting an offer

Once you’ve received an offer on your property your estate agent will be in touch. Once you have accepted an offer you will need to ask your agent to take the property off the market, even once accepted you can still change your mind until contracts are exchanged.

Legal bits

You will now need your solicitor or licensed conveyancer to complete the legal work. They will arrange the title deeds, complete a property information form and deal with the signing of contracts leading to the completion of the sale.