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Vendors Guide

Preparation

Before you start the process of selling your house, there are some things you should think about:

Motivation and Timescales

Think carefully about why you're moving, what constraints you have and when you need to move. This will determine your whole approach to the process. Moving house can be stressful, time-consuming and expensive.

Presentation

A dirty property or one where decoration is obviously required will not command the same price as a clean, well presented property. Its well worth spending the odd weekend doing the annoying little maintenance jobs that you've put off for ages. Potential home-buyers will notice if, for instance, the skirting board hasn't been painted and may wonder what other things haven't been done.

Don't be tempted to do any radical new work. You may think that purple painted ceilings add thousands of pounds to the value of the house - others may not. If in doubt, be conservative.)

Most sellers should consider getting a professional in to do those changes that can really add value to your home when it comes to selling it, or that change it from a property that sits on the market for ages into one that gets snapped up straight away. Speak to a highly experienced adviser at Bassetts that will be bale to point you in the right direction.

Choosing an Agent? Choose Bassetts

Assuming that you want an agent to sell your property, shop around. Some agents offer a good service at reasonable prices, whilst others do next to nothing for properties that don't match their normal portfolio. Important questions to ask:

What's the commission rate? The rate is almost always negotiable and generally varies from 1% to 2.5% of the sale value. Make sure it’s a no sale - no fee basis

Decisions to make:

Sole or joint agency?
Sole agency- advertising and putting the property on with just one agent.
Multi Agency – advertising with more then one agent.

How much?

It’s your decision how much you put the property on the market for and we will help you reach the price you are anticipating, however we will advise you where necessary.

Marketing

Once you have appointed us as your agent, and the paperwork signed, an agent from Bassetts will come and re visit your property; take pictures, measure up and produce and take down additional property details. We will ask you to review particulars before sending them out.

We market your property within various mediations to ensure you get the most exposure and have a better in the following ways

  • Our website
  • Find a property.com
  • Primelocation.com
  • Hounslow Chronicle
  • Sales Boards outside your property ( a powerful tool )
  • We also use Text messaging, emails and other forms of direct marketing to ensure all our registered buyers have access to any new properties that come onto the market with us.


Once the property is advertised and prospective buyers start coming, you'll develop a spiel for showing people round. Tell them what you love about living there - making it relevant to the people looking. Creating an impression of a home that would be a great place to live. Be prepared for difficult questions - but don't lie.

If people are serious, they will generally visit a second time. Use this opportunity to find out about the potential buyer's situation. Where are they in the process of selling their property? Is the mortgage arranged? Are there any other constraints?

Receiving an offer

Assuming they like the property, the buyers will put in an offer. Take time to think about your response and remember that this is a negotiation with other things apart from the price to play with. This is a time to play hard - but fair.

Find out if the buyer has put in any offers on other properties If you are tempted to gazump (go to property jargon link gazumping) the buyer - at least tell them. Answer like "That's not as much as I was hoping for, but I'll accept it unless a better offer come along between now and the exchange of contracts" If you want to move quickly - tell them. "I'll accept that price if you move quickly. You've got 2 weeks to exchange contracts, after which the property goes back on the market"

All of this is rather different in Scotland where offers are legally binding. An offer in England and Wales usually is subject to contract, which means that it isn't binding without a contract behind it, and as you haven't agreed one yet (and probably won't if you don't want the property) the offer isn't legally binding. There are some other subtle differences due to Scottish law, but the main difference is when making and accepting offers.

Between the acceptance of offer and exchange, the buyer has to do lots of running around. As a seller, your obligations are really only to answer the questions from the buyers solicitors and to ensure you're ready to sign. At this stage you are still under no legal obligation to sell. You'll need to contact your mortgage company about transferring the deeds and security for the mortgage if you buying a property at the same time

Exchanging Contracts

This is when it gets to the Conveyancing stage. Where relevant searches are done on the property. You then sign a contract which then is to e signed by the buyer, this becomes legally binding. If you decide to pull out after exchanging contracts or if the buyer pulls out at this stage, it could get very expensive. Similarly delays beyond the agreed completion date incur interest that mounts rapidly.

If you are buying a different property, make sure you exchange on selling you existing property before buying the new one - or you could be left with an unexpected bridging loan!

Arrange for the transfer of utilities and mail deliveries to avoid further complications.

Completion

You should have agreed when you will move out. Leave the property in the condition you would like to find it in. Many moves are marred by people leaving rubbish everywhere, taking light fittings and light bulbs. This is unnecessary. Cutting some flowers from the garden, sticking them in milk bottle in the kitchen and they'll thank for years to come just a small gesture.

On completion day, your solicitor will tell you when the money has arrived. Then either you or the Bassetts can hand over the keys.

  • In summary what you can expect from Bassetts
  • Honest valuations of your property
  • Regular updates on selling and buying processes
  • Straightforward estate agency contracts
  • A comprehensive schedule of advertising
  • Intensive negotiations on offers
  • A wealth of experience in sales
  • Bespoke property brochures
  • Eye catching ‘for sale' boards
  • Advertising on  high-profile property websites
  • Assistance with home information packs (HIPS)
  • Prompt response to enquiries
  • Flexible, accompanied viewings
  • Help with removal arrangements
  • We are also members of the Ombudsman and OFT approved, so you can be confident that you'll receive an unsurpassed level of service that adheres to the latest regulations.


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