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The Stages of Selling a House

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Selling a house can be both a formidable and thrilling process for homeowners. Most owners prefer to hire a professional to do this work while others face the task hands-on. However, these stages are similar for an agent and a layman too. When selling your house, go for a selling plan that will save you money and earn you a good sale. Here is a step by step guideline that will direct you on how to sell your house without stressing out.

Get your funds in order

When selling your house, the first step is to put your funds in order. Inform your mortgage provider about your intentions to sell your house and inquire if there are any penalties required to be paid for settling your mortgage early. If you intend to purchase a new home after that, identify the suitable personnel needed for that transaction. They will give you some detailed information pertaining to your eligible mortgages.

Consider selling first then buying

If you intend to purchase a new home, it’s crucial to first market your current house before looking for a new one. Make sure that you spend unlimited time notifying people about your big sale since losing your dream house simply because your current home is off-market can be heartbreaking.

Get numerous valuations

Assessing the value of your house is fundamentally crucial in determining the asking price. Get a couple of agents to give you some insights on the value of the home and use the figures as your starting point. However, these figures should not limit you when pricing your house since it’s your own, and you got control over everything. Buyers will always negotiate a discount, and it's, therefore, wise to add in a small negotiable price to your selected price.

Prepare your home for sale

Spicing up your home will not only make it more appealing to the eyes but also make it more valuable and quick to sell. Shipshape your home, apply some light-colored paint, confiscate excess clutter, and fix any snagging things. You should also get rid of bad odors and keep the furniture and floor sparkling. If you don't know or don't have the time to prepare your home for sale, you can get the help of staging professionals. Since a home staging expert knows what works and what doesn't, he is the wisest choice to increase the value of your home and make it attractive to potential customers.

Employ a solicitor

The transfer of ownership is the most critical part of the hose selling process. It’s essential to hire an experienced solicitor who will be responsible for handling all the legal work during this process. You should select a firm with a good track record with a renowned company name to avoid void transactions and coning.

Fill out the necessary questionnaires and accept an offer

The seller should fill out a countless number of questionnaires to fill out to give extensive information about the property and the sale. After filling these questionnaires and dispatching it, the seller is likely to get many offers from prospective buyers, which he or she should assess and accept the best offer. After accepting an offer, the sale process begins immediately.

Negotiate the contract

The buyer and the seller will now have open discussions pertaining to the duration of the exchange, the price of fixtures and fittings to be included in the sale, if at all any, and the amount of discount to be given. Remember that no deal is sealed before a transfer is made, so feel free to opt-out when the conditions are not suitable for you.

Exchange contracts and move out

Once you are in consensus, the final contract will be drafted and exchanged. You will be required to pay a small deposit, and within no time, the agreement will be complete. After this step is completed, the contract now becomes binding, and no party is allowed to terminate the contract. You now only have the agreed period to vacate your home to pave the way to the new owners.

Completion

In this stage, there is a complete change of ownership. You will now hand over the keys as you receive payments. The deed together with the money will be given to the solicitors, who will, in turn, register the transfer with the land registry.

These are the stages of selling a house you need to know. When all these steps are completed, the solicitor will receive the agreed redemption figure for completion day of the mortgage. Your solicitor will then send a detailed report of the sale price, redemption costs as well as all their costs incurred during the whole process for payment.