Selling House Guides
How to Sell Your House
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- Receive funds in 7 days
- A guaranteed sale on any property
Selling your home is a big step. It’s a journey that requires numerous big decisions, each needing thorough research and consideration. From setting the right price to navigating legal requirements, the process can seem overwhelming at times.
By knowing what you need to do and when, you can stay in control and reduce your stress levels. Whether upgrading, downsizing, or simply seeking a change, we’ll help you understand how to initiate the selling process, what to expect in terms of timeframes, and how to make decisions that could significantly impact your financial outcome.
Use this guide as a hub for all things related to selling your home.
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What To Consider Before You Sell Your House
The first step is to evaluate your financial situation, particularly your current mortgage.
- Firstly, check the end date of your current mortgage deal. Moving before this date might incur penalty fees. You’re unlikely to face such penalties if you’re on your lender’s standard variable rate, typically applied after a fixed rate or tracker period.
- If you’re within the introductory rate period of your mortgage, examine whether it’s ‘portable.’ A portable mortgage allows you to transfer your current mortgage to a new property without additional costs.
- In cases where your mortgage is not portable and you’re still within the introductory rate, be prepared for an early repayment charge from your lender. These charges range from 1 to 5% of your remaining mortgage debt.
Figure out your finances
The first step is to evaluate your financial situation, particularly your current mortgage.
- Firstly, check the end date of your current mortgage deal. Moving before this date might incur penalty fees. You’re unlikely to face such penalties if you’re on your lender’s standard variable rate, typically applied after a fixed rate or tracker period.
- If you’re within the introductory rate period of your mortgage, examine whether it’s ‘portable.’ A portable mortgage allows you to transfer your current mortgage to a new property without additional costs.
- In cases where your mortgage is not portable and you’re still within the introductory rate, be prepared for an early repayment charge from your lender. These charges range from 1 to 5% of your remaining mortgage debt.
Determine your motivation to sell
Many people sell their homes simply because they want to move areas or want more space. But for many others, selling is forced upon them by external factors. If this is you, selling is not a choice but a necessity. Reasons for selling can include:
- Selling a house after a divorce
- Financial difficulties/repossession
- Selling probate property
- Moving house
- House sale fell through
If you fall into one of these categories then it is important to understand that you may need to follow different processes when selling your home. Don’t worry, though; we’ll guide you through these later.
Decide whether to rent or buy
Deciding between renting and buying your next home involves an analysis of your circumstances and plans. Generally, there are three options for you:
- Remain a Homeowner (Selling to Buy Immediately): This option involves selling your current home to immediately purchase a new one, be it for upsizing, downsizing, or relocating.
- Move into Temporary Accommodation (Selling to Buy Later): Ideal if you’re relocating or uncertain about your next residence. This means living in temporary accommodation, like a rental, between selling and buying.
- Leave Homeownership (Selling with No View to Buy): This involves moving to a permanent arrangement that does not include owning a home, like renting or moving with family. This option eliminates the property chain and mortgage obligations but requires thoughtful management of the financial gains from your property sale.
Free cash offer within minutes, any condition, any location.
Free cash offer within minutes, any condition, any location.
Estate Agents vs We Buy Any Home
Whether you choose option 1, 2, or 3, the next step for most people is choosing an estate agent to sell your house. It’s crucial to consider the overall cost implications of the sale process, though, and remember there are other non-traditional options to explore, such as cash house buying companies.
Traditional estate agents and cash-buying services like We Buy Any Home offer different approaches.
How, can, and why do we as cash buyers offer below market value and end up paying the same amount as a home sold via an agent? Let us explain…
- With an estate agent, the agreed sale price might be around £94,000, while We Buy Any Home may offer £85,000.
- After accounting for agent fees, the price comes down to £90,710 with an estate agent but remains £85,000 with We Buy Any Home.
- Further deductions such as utility bills, council tax, and mortgage costs alter these figures. For traditional estate agents, these deductions bring the final amount to approximately £84,712.
- In contrast, with We Buy Any Home, the final amount you receive is still £85,000.
Let’s take a look at how they differ.
- Traditional estate agents generally complete a sale within 6-9 months, whereas We Buy Any Home can potentially close a deal in as little as 7-10 days.
- While the original advertised price with an estate agent might be £107,000, the true market value of the property is often around £100,000, similar to the initial valuation given by We Buy Any Home.
This comparison highlights the importance of assessing not just the sale price, but also the additional costs incurred during the selling process. The speed of the sale, convenience, and net final amount are key factors to consider when choosing the right option for selling your home. Sell your house fast to cash house buyers today for a smooth and stress-free experience.
Free cash offer within minutes, any condition, any location.
Documents You Need for Your House Sale
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Get an EPC and other Surveys
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Gather Identity Verification Documents
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Organising Title Deeds
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Securing an Energy Performance Certificate (EPC)
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Completing a Fittings and Contents Form
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Filling Out a Property Information Form
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Gathering Building Regulations Certificates
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Conducting safety checks
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Understanding the costs of necessary documents
If you decide to sell your house, now is the time for you to get started on the dreaded paperwork, such as building surveys. There are several documents you will need to get.
Get an EPC and other Surveys
If you decide to sell your house, now is the time for you to get started on the dreaded paperwork, such as building surveys. There are several documents you will need to get.
Gather Identity Verification Documents
To ensure a smooth house-selling process, verifying your identity as the rightful property owner is essential. This is typically accomplished using:
- A valid passport.
- Your driving license.
- Your birth certificate.
Organising Title Deeds
Title deeds are crucial in defining your ownership and the property’s boundaries. These documents include:
- A detailed plan of the property’s layout and land.
- A register indicating the property’s last sale and the legal owner.
- Any restrictions or covenants affecting property modifications.
Securing an Energy Performance Certificate (EPC)
An EPC ranks your property’s energy efficiency from A (most efficient) to G (least efficient). This certificate is a legal requirement for estate agents to include in property listings.
Completing a Fittings and Contents Form
To avoid post-sale disputes, detail what fixtures and items will remain or be removed from the property. This includes:
- Built-in appliances and fixtures.
- Permanent fittings like cabinetry and bathroom fixtures.
- Movable items included in the sale, like furniture.
Filling Out a Property Information Form
Estate agents require details about your property, including:
- The number and types of rooms.
- Information about the kitchen, bathroom, and general construction.
- Details on services like heating, drainage, and utilities.
- Internet connectivity.
Accurate, honest information about your property enables potential buyers to make well-informed decisions.
Gathering Building Regulations Certificates
For any structural changes or extensions made during your time in the property, you’ll need proof of compliance with Building Regulations. If you’ve lost these certificates, contact your local council’s building control department or the company that carried out the work.
Conducting safety checks
Ensure you have:
- A gas safety record for any gas appliances, certified by a Gas Safe Engineer.
- An electrical safety inspection report.
- Service records for central heating and chimney sweeping (if applicable).
These checks confirm the safety of your home’s essential systems.
Understanding the costs of necessary documents
While many ownership documents are available online or free of charge, some, like the EPC, electrical and gas safety checks, and planning certificates, may incur costs.
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Decide How Much to Sell Your Home For
Grasping the true worth of your home is a key step.
Sometimes, the valuations provided by estate agencies may not be entirely accurate. Some agents might inflate the value of your home to encourage you to enlist their services for selling it. An overestimated valuation, however, is not beneficial in the long run.
- For a reliable estimate, consider hiring an independent valuer. They will typically conduct an in-person inspection of your property and offer a professional opinion.
- Many websites offer tools to help estimate your property’s value. The Land Registry, for instance, allows you to compare different valuations. We Buy Any Home also offers an online valuation service that you can easily access.
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Prepare Your Home for Sale
Selling your home efficiently and at the best price requires some key preparations. Here’s a condensed guide with essential tips for a smooth and successful house sale:
- Deep Clean Your Property: A thorough clean can significantly enhance your home’s appeal.
- Declutter: Reducing clutter makes your home appear more spacious and inviting. Clear out unnecessary items, donate or sell them, and use self-storage if needed.
- Boost Kerb Appeal: First impressions are crucial. Enhance your home’s exterior by tidying gardens, cleaning paths, driveways, doors, and windows, and ensuring the roof is in good condition.
- Set a Realistic Asking Price: Research prices of similar properties in your area and consult with estate agents for a realistic valuation.
- Choose an Efficient Estate Agent: Select an estate agent based on their marketing strategies, services, fees, and contract terms.
- Reevaluate if Necessary: If your home isn’t selling, reassess factors like asking price and marketing strategies with your estate agent. Be prepared to switch agents if you’re unsatisfied with their performance or use a cash house buying service like We Buy Any Home for a guaranteed sale.
Free cash offer within minutes, any condition, any location.
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Hire a Conveyancing Solicitor
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Fill out the Relevant Questionnaires
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Accept an Offer
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Complete the Sale
Conveyancing, a crucial stage in the property buying and selling process, involves complex legalities. Mistakes in conveyancing can lead to costly disputes or failed transactions, which is why professional assistance is highly recommended.
Hire a Conveyancing Solicitor
Conveyancing, a crucial stage in the property buying and selling process, involves complex legalities. Mistakes in conveyancing can lead to costly disputes or failed transactions, which is why professional assistance is highly recommended.
Fill out the Relevant Questionnaires
When selling your property, a solicitor normally manages tasks like preparing and sharing legal contracts, negotiating your mortgage settlement amount, and obtaining title deeds. However, a crucial part of their role involves filling out necessary questionnaires. These questionnaires are vital as they provide the buyer with important details about your property.
Accept an Offer
Once your property offer is accepted, a typical sequence of seven steps follows to finalise the sale:
- Remove your property from listings
- Hire a solicitor and ensure the buyer does too
- Proceed with Your mortgage application
- Engage a surveyor
- Exchange contracts
- Plan your move early
- Complete the sell my house journey
Some of these stages are quick, while others, such as coordinating removals or exchanging contracts may take more time and depend on external factors like the property chain.
Complete the Sale
Completing the sale is the final and crucial step. This occurs when all the legal and financial obligations are met, and the property ownership officially transfers from the seller to the buyer. This marks the end of the sale process and the beginning of a new chapter for both parties!
Free cash offer within minutes, any condition, any location.
The amount owed is typically settled using the proceeds from the sale. This process involves coordinating with the mortgage lender to ensure the accurate payoff amount is calculated, including any interest or penalties.
Pay Off the Mortgage
The amount owed is typically settled using the proceeds from the sale. This process involves coordinating with the mortgage lender to ensure the accurate payoff amount is calculated, including any interest or penalties.
Settle up with the Conveyancing Solicitor & Estate Agent
The conveyancing solicitor’s fees cover the legal aspects of the sale, including preparing and reviewing contracts, handling the transfer of funds, and other legal formalities. The estate agent’s fee, typically a percentage of the sale price, is for their role in marketing the property, conducting viewings, and negotiating the sale.
If you sell your house with We Buy Any Home, you’ll be able to avoid those additional estate agent fees, and receive the exact amount you’re offered from the beginning.
Moving out
Moving day is a busy and exciting day! To ensure a smooth process, it’s crucial to be prepared and organised. Key moving day tasks include:
- Decluttering your home
- Recording utility meter readings for accurate billing and legal compliance
- Updating your address with various organisations
- Cancelling your council tax
- Use Royal Mail’s redirection service
- Upon arriving at your new home take photos for future reference
- Keep unpacking minimal at first to facilitate cleaning
Free cash offer within minutes, any condition, any location.
Sell House After Divorce
Divorce can be a challenging and emotional time, often with the quick sale of shared assets a priority. Our selling house after divorce service ensures a fast and fair sale, allowing both parties to move forward more quickly and with less stress. Selling to us means you can bypass the lengthy and often contentious traditional market process, providing a clean break and financial clarity at a time when it’s most needed.
Learn more
Probate Property
Inheriting a property can be a mixed blessing, often coming with financial obligations such as maintenance costs, taxes, and potential legal complexities. Selling an inherited property through our service can simplify this process. It offers a straightforward way to convert the property into cash, without the need for costly repairs or navigating the complexities of the real estate market.
Learn moreStop Home Repossession
Facing financial difficulties or the threat of repossession can be a distressing experience. Selling your house fast for cash can be a viable solution to avoid repossession and alleviate financial burdens. Our efficient buying process offers a lifeline, giving you access to funds quickly. This can help settle debts, avoid damaging credit scores, and provide a fresh start without the prolonged stress of traditional house selling methods.
Learn more
Moving House
Moving house is a common reason why many people choose to sell their current home. Whether it’s for a job relocation, wanting to downsize, or simply needing a change of scenery, the process of moving can be stressful and time-consuming. By selling your house, you can free up funds to help with the costs associated with moving, such as hiring movers, purchasing new furniture, or covering any unexpected
Learn moreHouse Sale Fall Through
House sales can fall through due to various reasons such as gazumping, mortgage problems, breaks in property chains, issues with house surveys, conveyancing delays, and estate agent issues. Selling your house for cash can eliminate these risks and provide a faster and more secure alternative to traditional methods.
Learn more
Free cash offer within minutes, any condition, any location.
Frequently Asked Questions About Selling Your House
Want to discuss a little further? Freephone 0800 774 0004 or call our office 0203 789 2401
What’s the quickest way to sell a house?
Using a cash house buying service like We Buy Any Home. We can buy your home in as little as 10 days, no matter its condition or your circumstances.
Is it worth trying to sell my house now?
Unless you try, you’ll never be able to sell your home! January and the summer months are generally considered to be the best times to sell a house but sales go through every day of the year, so give it a go.
What adds the most resale value to a house?
What adds the most resale value to a house?
Major renovations can significantly boost your home’s value. Undertaking substantial projects such as loft conversions, building a conservatory, or transforming a garage, often leads to substantial returns.
Who is the best to sell your house with?
We Buy Any Home! We may be biased but our team of industry specialists boasts over 300 combined years of expertise in real estate. Our status as the UK’s leading cash home buyer is no coincidence – our professionals are recognised as the most reliable property purchasers nationwide, so sell your house fast to cash house buyers today!
How do the tax implications of selling a house affect the overall financial outcome, especially in terms of capital gains tax?
The tax implications of selling a house, particularly capital gains tax, can significantly impact the seller’s financial outcome. If the property sold has been the seller’s primary residence for at least two of the last five years, they may be eligible for an exclusion on capital gains tax. However, there are limits to this exclusion, and any gains above these limits may be taxable.
Can improvements or renovations made to the house shortly before selling significantly impact the selling price or speed of the sale?
Making improvements or renovations before selling can indeed impact the selling price and the speed of the sale. Well-chosen renovations can increase the home’s appeal and value, potentially leading to a higher selling price and a quicker sale. However, it’s important to consider the cost versus value added by such improvements.
What are the specific risks or drawbacks of selling a house to cash home buyers compared to traditional methods through estate agents?
Selling a house to cash home buyers offers advantages like speed and convenience but may come with risks or drawbacks, such as receiving a lower offer than the market value. Cash buyers often purchase homes “as is,” which can be beneficial if the seller wants to avoid the hassle of making repairs. However, it’s crucial to research the buyer to ensure they are reputable and the offer is fair.
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