Selling your home is one of the most stressful experiences for anyone to go through – especially if you buying another house to move into. There’s a lot to organise and remember, so to help you along we’ve put together a complete guide to selling your home in St Albans.
1. Do you need to sell?
Check the local St Albans’ property market to see if it is financially worthwhile selling and buying. Perhaps you could convert an attic or loft as a cheaper alternative? Maybe you can rent out your existing property rather than sell it? If you are thinking of downsizing look at all the pros and cons before you do so.
2. Should you buy or rent?
Renting instead of buying can be more expensive in the short-term, but it removes a lot of stress from finding a new home while selling your current one. This is because there is less pressure to sell and buy to meet the other party’s deadlines. If you do sell, tell your mortgage lender about your plans and find out if there are any early redemption penalties.
3. Find a reliable estate agent
Find a local estate agent in St Albans who can help evaluate your property. Also consider the size of mortgage you’ll need for your new property. Use the agents expertise to set the right selling price to maximise your chances of selling.
4. Prepare to sell your home
Tidy your home, make repairs to any major issues and generally make it presentable for potential buyers to visit. Again use your agents expertise to advise on any essential repairs. You might want to give a fresh lick of paint to the front door to give it that all-important kerb appeal.
5. Find a good conveyancer or solicitor
Using a conveyancer or solicitor in St Albans will ensure all the necessary legal work is taken care of. Always get at least three quotes before making a decision about which one to use after you have agreed to an offer on your property. Your agent should have firms that they can heartily recommend.
6. Negotiate the best deal
Your St Albans’ estate agent will pass on all offers for you to consider. It is up to you to either accept, reject or to ask for the agent to negotiate. If you choose to accept, you can change your mind as it is not legally binding, but that will make it extremely stressful for the buyer.
7. Confirm the sale
Once the contracts have been exchanged with the buyer the deal is legally binding on both sides. Should you pull out, the deposit will have to be returned to the buyer and they could even take you to court.
8. Leave your current home
It is time to pack up and go to your new home and while it is fine to leave on the day of completion, it is much less stressful to move earlier if possible. The house must be left in the condition you have agreed to in the contract.
9. Complete the sale
Once you accept payment and hand over the keys, the sale is complete. The money is transferred and relevant documents exchanged between the solicitors or conveyancers. The transfer of ownership will also be registered with the Land Registry by your legal advisor.
10. Final steps
Your legal advisor can now pay off any of the outstanding mortgage now that the lender has given you a final figure (if you haven’t moved your mortgage to the new property). The advisor will then invoice you for their work, along with full details of the mortgage redemption. For those buying and selling, the advisor will deal with both mortgages and also managing stamp duty payments.
Thinking of selling your home in St Albans?
Our team can help you get prepared to sell your home with a free valuation from our property team. Contact our team of estate agents and letting agents at email@example.com or give us a call on (01727) 836561.