Thinking of putting your house on the market? This step-by-step guide provides insights into the process of selling a house to help you achieve a smooth and successful sale.
Knowing your mortgage end date is important in order to avoid unexpected charges. Early repayment charges (ERCs) may apply if you switch before the end date. Typically, ERC’s range from 1% to 5% of your outstanding mortgage balance, but this varies according to your lender.
Although ERC’s can be substantial, switching may be worthwhile if you can secure a better rate. Take advantage of available calculators to assess the cost-effectiveness of switching.
One of the important steps to selling your house is to prepare your finances. This can help you to know how much you can afford each month.
An Energy Performance Certificate (EPC) is a legal requirement when looking to sell your property. It rates the energy efficiency of a property on a scale from A to G and is valid for 10 years. Learn about the EPC status of a property on the Government website here.
If you don’t have an EPC, you can get usually get one between £40 and £120 depending on the size and location of your property. They can be arranged with an accredited energy assessor or you can pay your estate agent to do it for you.
If you’re wondering how much to sell a house for, a good place to start is to browse similar properties in your area that have sold recently. To do this, use sites like Rightmove, On The Market and Zoopla, which can help you estimate your property’s worth.
To gain a better understanding of your potential selling price, ask both larger high street and smaller local estate agents for a valuation and calculate the average of estimates received.
Some of our top tips to sell your house include:
There are multiple ways to sell your property, with each one having its own benefits and drawbacks. Some of the ways you can sell your property are to:
The process of transferring the property from one person to another is called conveyancing. The whole process is a legal matter, and so you must hire a solicitor or conveyancer to ensure everything is undertaken correctly.
Some estate agents will recommend a solicitor or conveyancer they usually work with, however, you can hire one off your own back. Again, like with many aspects of this guide, do your research. (Hiring your own is usually cheaper too.)
The cost will vary depending on who you choose. However, according to the Home Owners Alliance, July 2023, you will be looking to pay anywhere from £610 to £950 when selling a house. But you should note that fees are directly linked to the property value.
There are a few additional costs on top of this, including:
With your property on the market, you may receive offers from potential buyers. If not, consider discussing a price adjustment with your agent. If you receive multiple offers, you can decline and negotiate with the bidder through your estate agent's guidance.
When selecting an offer, it’s not just about the highest price. Consider factors like the buyer’s readiness and reliability. Understanding each bidder's situation helps maintain a positive relationship throughout the process.
Before you sell your home, some of the things to consider are:
Plan ahead to determine your moving day and budget. Compare My Move offer a guide on moving costs based on property size and distance travelled. We have put this into a table to give you an overview of their findings.
|
Number of bedrooms in property |
Average removal cost |
Average removal cost, with packing |
|---|---|---|
|
1 |
£356 |
£606 |
|
2 |
£576 |
£826 |
|
3 |
£806 |
£1,056 |
|
4 |
£1,056 |
£1,306 |
If quotes from removal companies are too costly, it may be worth doing the removal yourself. Hiring a van and getting help from friends and family will be much more cost effective and you can be a lot more flexible with your moving date too.
At Tilia Homes, we have various schemes such as Part Exchange* and Smooth Move* on some of our new homes that can help you sell your property. *T&Cs apply
Should I sell my house before buying a new one?
There is no right or wrong answer to this question, however, there are both benefits and drawbacks to it. The main advantage is that you are breaking a housing chain, meaning if you have already sold your house, you will be seen as more attractive to sellers as you are able to complete a purchase quicker.
However, while you are searching for a new house you will need to find somewhere to stay. Furthermore, if housing prices begin to rise it could affect your budgeting.
What are the costs of selling a house?
What documents do you need to sell a house?
What is the best time of year to sell your home?
Spring, particularly March to May, is often considered the best time to sell a house. According to Rightmove, March is the strongest month for prospective sellers to come to the market.