How to sell your home: The step-by-step guide with Goldex Sales and Lettings

If you're considering selling your home and are interested in having more bedrooms, a larger garden, a dining area, or simply a change of location, Goldex Sales and Lettings are here to offer our assistance. We have created a step-by-step guide to help you through the process of selling your home, and we're committed to making it as easy and stress-free as possible for you. We will explain each step you're likely to take during the process and show you how we can help to ensure your success.

1. Decide if you should sell

If you're considering selling your home, it's important to take some time, to consider your options. Selling your property isn't always the most beneficial option, especially if you're unhappy with only one aspect of your home. In some cases, it may be better to build an extension, convert the attic, or dig out the basement to create more space, which can also increase the value of your home. Renting out your property could also be a more financially beneficial option, depending on your circumstances. Ultimately, it's important to weigh up the pros and cons and consider the current market conditions before making a decision.

2. Decide if you should rent a house next, rather than buy

If you're considering selling your home, it's important to think about your next steps. One option is to rent a house next, rather than buying a new home right away. This can help reduce the time pressure of finding a new home and also break the housing chain, making you a more attractive buyer. However, if you have already found your perfect property and have not yet sold your current home, renting may not be the best option for you. It's important to figure out your finances and weigh the pros and cons of each option before making a decision.

3. Choose an estate agent to sell your house

When you're planning to sell your home, choosing the right estate agent is crucial. It's important to find an agent you can trust, to guide you through the process and help you market your property effectively. Ideally, you should look for an agent who is based in your local area and has a good understanding of the local market. At Goldex Sales and Lettings, we're a Gillingham-based agency with a wide portfolio across the Medway and Kent area. We offer a free property valuation and will visit your property to provide an up-to-date and accurate sales valuation. We'll also explain our terms and conditions of the business and how we'll market your property to get you the highest price possible. When choosing an estate agent, it's important to agree on a fee - we recommend aiming for 1% plus VAT for the sole agent.

4. Get an ‘Energy Performance Certificate’

When selling your home, you will need to provide your chosen estate agent with an Energy Performance Certificate (EPC). This is a standardized document that ranks properties in terms of energy efficiency and is required by law to be presented to potential buyers. It's important to note that you must have at least applied for an EPC before putting your home on the market. If you do not currently have an EPC, it can cost between £60-£120 depending on the size of your property and where you live.

5. Decide how much to sell for

When it comes to selling a house, determining the right price can be a challenging task. It's essential to conduct thorough research and understand the local market and area, to decide on the right price for your property. If you choose to register with an agency, they would provide property valuations to help you get an idea of the value of your home. Keep in mind that buyers may try to negotiate a lower price, so it's advisable to add an additional 5% to 10% to the minimum price you are willing to accept. If you're in the Gillingham and Medway area, you can rely on Goldex Sales and Lettings for a free property valuation, whether you're selling or renting your property. They are a reputable estate agency that can guide you through the process with ease.

6. Hire a conveyancing solicitor

Choosing the right conveyancing solicitor is a crucial step in selling your property, as they will handle all the legal work involved in the process. It's important to compare quotes and ratings to find the best conveyancing solicitor for you. To ensure the sale progresses smoothly, you should decide which firm you want to use before agreeing to the sale of your house. It's important to note that you can

only formally instruct a conveyancing solicitor after agreeing to an offer. You can get an overview of how much conveyancing fees cost and see a list of questions to ask your conveyancer in our guide. At Goldex Sales and Lettings, we can also recommend reputable conveyancing solicitors to help you through the process.

7. Accept an offer and negotiate the draft contract

It's important to carefully consider any offers you receive when selling your home. The estate agent is required to pass on all offers to you, and it's up to you to decide whether to accept, reject, or negotiate the offer. If you're not happy with the offer, you can wait to see if a higher offer comes in or ask the estate agent to try to negotiate a higher price. Once you're happy with the offer, you can formally accept it. However, it's important to remember that accepting an offer is not legally binding, and you can still change your mind or accept a higher offer later on.

8. Complete all of the legal requirements

When negotiating the draft contract, it's essential to decide on the length of time between exchange and completion, which is typically 7 to 28 days following the exchange of contracts. Additionally, you and the buyer will need to agree on what fixtures and fittings will be included in the sale and how much the buyer will pay for them. Any discounts due to problems flagged up by the survey should also be agreed upon. It's important to consider all these factors and come to a mutual satisfactory agreement before finalising the sale.

9. Exchange contracts and move out

When it comes to moving out after exchanging contracts, it's important to keep in mind that you are now legally committed to selling the property once the contracts are exchanged. You should only pull out if there is a valid reason to do so, otherwise, you may be sued and the buyer's deposit will be returned to them. If possible, it would be less stressful to move out before the day of completion, especially if you already have somewhere else to move to. The buyer and estate agent may visit the property between your move-out date and the completion date, to ensure everything is in order. It's important to find the right removal company for your move and get removal quotes to ensure a smooth and stress-free process.

10. Complete the sale and pay off the mortgage

On the day of completion, the property ownership is transferred, and the keys are handed over to the buyer. The payment is made through the solicitors or conveyancers, and the deeds for the property are also transferred. Your solicitor or conveyancer will register the transfer of ownership with the Land Registry. On the day of completion, the outstanding amount of your mortgage will be paid off by your conveyancing solicitor using the money transferred by the buyer. The mortgage company will have provided your solicitor with the precise redemption figure for your mortgage. If you have any further questions, feel free to ask.

11. Settle up with the conveyancing solicitor and estate agent

It's good to know that after completion, the conveyancing solicitor will send an account that covers all the costs and disbursements, including the sale price of the house and redemption of the mortgage. It's also useful to know that if you're buying and selling at the same time, the conveyancing solicitor can settle up for both transactions, including paying stamp duty for the house you're buying. The conveyancing solicitor will ensure that the change of ownership is registered with the Land Registry, and there may be a small refund if there's a small discrepancy.