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First Time Selling your Essex Property?
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ISo you have been the first time buyer, but now you are thinking of moving again and now there is a new challenge SELLING for the first time, when you first bought a property you may have been moving from the family home or from a rental accommodation and the biggest challenge you will be faced with (if buying on) is navigating two property transactions at the same time.
This is without a shadow of a doubt the hardest part of the process and one that you may be fearful of or do not fully understand. When buying for the first time you may have collected your keys on one day and moved in over a period a few days later, stepping inside the ladder is not quite the same. You will be asked to move from your old home to your new home on the same day.
Sound scary? It needn’t be… with the right support networks (your estate agent/your solicitor and your removal company you will not need to feel as though you are spinning too many plates hoping one doesn’t fall and smash… and therefore it is important to make sure you are choosing the right support in each area of your network.
We Understand First time selling
Things change but our support is unbeatable
It is important to realise that hear at Wallington Estates we believe a first time seller can be anyone who hasn’t sold a home in the past 5 years with the digital world ever evolving there are many processes that are seeing constant change so even if you have done a home move a few times before our tips below may still be worthy of a five minute read:
There are 5 key factors you will need to be educated in before selling for the first time:
1 – the cost of moving
As a seller you will need to make sure you have the affordability to cover the costs of selling, estate agency fees and solicitors costs are most often the big factors people will think of but don’t forget if you are redeeming your mortgage to be mortgage free check with your lenders to make sure you haven’t got any unexpected exit fees in the fine print (if you don’t know where to start then click here) does your home have a valid EPC? There is presently only one form of legislation to sell your home in England and that is an EPC energy performance certificate. Once purchased they are valid for 10 years but also be mindful if you have undertaken any major alterations or improvements to your home you may have unknowingly increased the rating which could be music to your buyers ears (although you don’t know them yet, this may be a very important buying factor for them) they are inexpensive and range from around £50-£120 depending on your chosen supplier. Will you need to pay Stamp Duty? The most likely answer is yes, second purchases will always have an attached charge of stamp duty…. But don’t fret we can help you calculate the costs as it isn’t always as bad as it may first appear! And finally your new purchase… You will need to pay a solicitor a fee to both deal with your sale and your new purchase, your purchase costs should always be more than your sale as you will need to pay for services to make sure your new home is the right fit for you and all searches that you will need are purchased from the local authority in the area you choose to buy. There are also a few additional items you may desire with your new purchase such as an in depth survey/ removal companies or van hires for moving day and always allow for a £1,000 contingency just in case anything comes up during your legal process that you may not have accounted for (the biggest unexpected costs are often indemnity policies for missing documentation for your sale)
2 – Preparing your home for market
Take yourself back to when you were out viewing what were your likes and dislikes when seeing new homes. Did the property appear clean and welcoming? were the photos attractive? did the property feel cluttered? How did it smell? were all the lightbulbs working? This is exactly what a prospective buyer may be looking for – head over to our selling tips page for more information in how to prepare your home for market.
3 – choose the right agents to value your home
Firstly, research the estate agents in your area, looking on the property portals to see the agents who typically sell properties similar to yours, this will help you to narrow down the list. three estate agents are a good number to invite to value your home, you might be tempted to go with the agent who values your property the highest, but be wary of this, the last thing you want is to put your home on the market at a price that is far too high, so be realistic taking into consideration your research and how much similar properties are on the market for in your area. Finally, it is all about the individual, you will be dealing a lot with this person over the coming months, so make sure you trust the company and person that you choose.
4 - The sale
Once you are on the market and get an offer accepted you then start the conveyancing process head over to our dedicated page to see an easy to read timeline.
5 – completion
Phew you made it, hopefully it wasn’t too stressful and you enjoy your new home!
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