Taking the plunge and putting your home on the market is a daunting step, but it is usually the start of an exciting new chapter. The process of selling a property can be lengthy and complicated, and for those who have never done it before, knowing where to start can be difficult.

Here, the residential conveyancing solicitors at JMW break down the sales process into simple steps in order to take the stress out of selling your home. 

Step 1: Check When Your Mortgage Deal Ends 

The first step in any house sale should be to check the terms of your current mortgage deal to find out if you are subject to any penalty fees for moving. If you are on a lender’s standard variable rate mortgage, it is unlikely there will be any penalties. It should also be fine to move if you are still on the introductory rate of your mortgage - and if this is ‘portable’ and your lender is accepting of the new property and the price you are paying for it.

If your mortgage deal is not portable and you are still in the introductory phase, you may have to pay an early repayment charge to your lender. This is typically between one and five percent of the remainder of your mortgage debt, meaning the penalty to move can be very expensive. 

Step 2: Consider Your Options 

Once you have established that you can feasibly afford to move, you can start thinking about your next steps. In general, there are a few options available to prospective sellers, depending on your preferences. 

1. Remain a homeowner with the intention of selling your current home and moving into a new one immediately after. The main advantage of this is that everything is done in one go and you can use the same solicitor for the buying and selling aspect of the transaction. However, this can be stressful and you could find yourself involved in two chains. 
2. Move into temporary accommodation, with the intention of buying a new property at a later date. This can be beneficial if you are relocating and not sure where you want to live. This option places less pressure on you to find a property you like and means you will be chain free when you come to buy, which could be attractive to sellers. You will, however, need to factor in the cost of renting and the fact that you may be tied into a fixed tenancy. 
3. Sell your home with no view to buy. With this option, there is no chain to consider and you will be mortgage free. 

Step 3: Think About the Overall Cost of Moving 

You should find out how much you can borrow on your new mortgage, if you intend on moving into a more expensive property. This, along with stamp duty, estate agent fees, energy performance certificate (EPC) costs, conveyancing fees and removal costs, can really add up. 

It is worth considering whether or not you would benefit from speaking to a mortgage adviser who can give you a more detailed breakdown on how much you can borrow for your next home. 

Step 4: Make Improvements Ahead of Sale 

Once you have made the decision to put your home on the market, you should take some time to consider any improvements you can make to attract potential buyers. In order to increase the chances of selling your property quickly and for the best price, it could be worth making the following quick fixes before you get a valuation: 

• Clean windows 
• Ensure garden is tidy
• Clean up the fences and walls 
• Ensure rooms clearly show their purpose 
• Get rid of any unpleasant smells 
• Ensure the property is warm 
• Hang up mirrors to make spaces look bigger 

Step 5: Get an Energy Performance Certificate (EPC)

Before selling a home, it is essential to get an EPC in place, which rates the property on its energy efficiency. An EPC is valid for 10 years and will typically cost between £40 and £120, depending on the size and location of the home. Usually, you will be able to arrange an EPC directly with an energy assessor, or pay your estate agent to sort it out for you. 

The energy efficiency of a property is becoming increasingly important for prospective homeowners who are concerned with soaring heating bills, and so having a good rating can be beneficial for the house sale process. 

Step 6: Get Your Property Valued 

The next step in the house selling process is to have your property valued. Setting the right asking price for our property is vital - making the price too high could put potential buyers off, while a price that is too low could see you selling for much less than you could have got. 

For this reason, you should spend time researching how much your house is worth based on recent local market activity, and invite several local estate agents to value your property. Ask each agent on why they think your home is worth the amount they have suggested and ask for examples of how much similar local properties have sold for in the last few months. 

Step 7: Set an Asking Price 

It is entirely up to you what asking price you set for your home. If you have been given similar valuations from each estate agent, you can be confident that they are correct and base your decision on their recommendations. However, if there are big differences between the valuations, it can be difficult to know what to do. 

Some estate agents overvalue properties in order to win business, and setting an unrealistic asking price can be a waste of your time and put buyers off even viewing a property. Here, you should set an asking price based on a combination of the average valuation you’ve received and recent selling prices of properties that are similar to yours. 

Step 8: Instruct an Estate Agent 

If you have decided to sell through an estate agent, you should make sure to compare fees and shop around for the best deal. Once you have chosen which estate agent to use, you will usually be asked to sign a contract that lays out the terms under which they will sell your home. 

Once the estate agent has been appointed, they will send a photographer to take professional pictures of your home. Take steps to ensure your property is clean and tidy, and add small touches like flowers and decorations to make it look more appealing. 

The estate agent will arrange for a floorplan to be created and write a description to accompany the listing. You can ask to check this before the listing is published in order to ensure you are happy with it. 

When the marketing materials are ready, your estate agent will list the property online - including on portals such as Rightmove, Zoopla and the agent’s own website. 

Step 9: Conduct Viewings 

If you are utilising the services of a high-street agent, they should offer to conduct viewings on your behalf. This option is usually preferable as they will understand how to show off your property in its best light and it will prevent any awkward moments between you and potential buyers. Where possible, you should try to be out of the house when viewings take place. 

On the other hand, if you’re conducting the viewings yourself, think carefully about the order you would like to show the rooms and any features you would like to draw attention to. 

Step 10: Enlist a Conveyancer 

Speaking to a solicitor or conveyancer before you have received an offer will speed up the sale process considerably. Doing so will also demonstrate to any prospective buyers that you are organised and serious about selling. 

Step 11: Consider Your Offers 

Your estate agent will let you know as soon as any offers are made. In the event that you receive multiple offers, ask the estate agent to investigate each bidder’s situation. The safest buyers to choose are usually chain-free cash buyers, or those who have already sold and completed their sale. Of course, these types of buyers are often hard to come by, but if you do receive an offer from one of them, it is worth pushing them to the top of the pile. 

Step 12: Accept or Negotiate Your Offer 

It is widely accepted that buyers will initially offer less than the asking price, which places the ball in your court for negotiations. You are within your rights to negotiate their offer in the hope that they will increase, or suggest a compromise price. Holding your nerve can be difficult, but this type of back and forth is perfectly normal and to be expected for a transaction of this size. 

Step 13: Look for Your New Property 

People will always look for a new property at different stages throughout their sales process. However, it is safest to start house-hunting once your own property is under offer. This will place you in an advantageous position if you do find a home that you are interested in. In a competitive market, some estate agents will not show you properties unless you have gone under offer anyway. 

This approach will also save you from the heartache of becoming emotionally invested in a property that you are unable to buy. 

Step 14: Be Clear About What’s Included 

Ensure the buyer fully understands what you are including in the price of the home, for example, any fixtures and fittings. Now is also the time to consider what dates you are likely to exchange and complete.

Step 15: Exchange Contracts 

The exchange of contracts is a significant stage in the process of selling your home because it is the first step in becoming a legally binding transaction. If you are purchasing another property, now is the time to make sure you have buildings insurance in place. 

Step 16: Completion 

The day you complete is the date that you have officially sold your home. On this day, you will need to move all of your belongings out of the property and drop your keys at the estate agents so they can be given to the new owner. 

If you are in a chain, it is much easier to complete your purchase on the same date that you complete your sale, so that you can prevent having to put your items into storage.