It’s time to move on. There’s no denying that selling up can be an emotional decision to make, but once you have - and your property hits the market - things can move fast. Getting your head around the process - and doing the prep - before the ‘for sale’ sign goes up is essential to maximising profit and minimising stress. Read on as Aimee Orrock, Corporate Account Manager at egg partner Gilson Gray, brings you up to speed.
Do the Work
We all have an ongoing snagging list in our homes, now is the time to get that list crossed off. Dealing with maintenance issues from a roof repair to that squeaky door will not only prevent potential delays but ensure that your home is in its best possible shape before it’s valued. Aimee suggests also focusing on small repairs that could have a big impact, such as freshening up tired paintwork or fixing broken fixtures, as these improvements often yield a greater return and make your home more attractive to potential buyers.
Get a Valuation
Before you reach your final decision to sell, you need to financially sense check it. Contact an estate agent for an initial valuation and discussion. In fact, whilst you’re at it, it’s best to invite a few, for comparison’s sake. “By arranging a valuation you’re not obliged to sell your home or sell it with us. We can offer you a no obligation free and honest estimate about what it’s worth in the current market,” says Aimee. It’s important to note that in Scotland, valuations often differ from a formal Home Report. A valuation is typically based on the market value, whereas a Home Report will evaluate the condition of the property in greater depth, so ensure you're clear on both before making any decisions. There are several factors that will affect this figure, including the home’s age, location, condition, and the number of bedrooms it has.
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Paper Trail
Decluttering and DIY are unavoidable steps if you want a successful house sale, but let’s focus here on the legal aspects. Aimee recommends keeping your paperwork organised well in advance, as any missing documents or inconsistencies can delay the process. So, what do you need to tick off your admin checklist?
- Check with your mortgage lender to see how much is required to settle the mortgage on your property, if applicable. This is crucial, as it will help you understand how much equity you’ll have in the property once it’s sold.
- Have you made any changes to the house that required planning permission or building control consent? Ensure you have the relevant documentation and be prepared to share this with your solicitor. If you have carried out any structural work or extensions, these documents will be required for the sale.
- Look out for any certificates for remedial treatments you may have had on the house or garden, such as dealing with dry rot or Japanese Knotweed. These are important to disclose, as they can affect the sale price or lead to further negotiations.
- If your property is part of a shared building or common ownership, you may also need to provide evidence of your share of costs and any management agreements.
Choosing Time
Now’s the time to select your Estate Agent! “At Gilson Gray, we are solicitor estate agents, meaning we manage both the estate agency and legal aspects of selling a property,” explains Aimee. “This integrated approach streamlines the selling process, doing away with the need for multiple points of contact.”
Aimee also recommends choosing an agent who is well-versed in the specific requirements of selling in your local area. If, however, you appoint a firm that is solely an estate agent - you’ll also need to find a Scottish solicitor to handle the legal aspects of the sale. In Scotland, all property transactions are formalised through a solicitor, so choosing an experienced conveyancing solicitor is essential to ensure the process goes smoothly.
Fees will all vary, but typically upfront costs include the home report and marketing such as floor plans, photos, video tours, brochures - and the professional text to go along with it. All other estate agency fees are usually deducted from the sale proceeds unless agreed otherwise. The legal – or conveyancing fees – are taken at the end too.
But it’s not just about figures. Aimee advises that if you’ve developed a good rapport with any of the valuers you previously met with, or if you like what they had to say, it’s often a strong indication that they’re the right fit for you. Trust is a key part of the relationship with your agent, so make sure you’re comfortable with their approach.
Before you pass ‘GO’, check in with your calendar. “Conducting viewings yourself and keeping the house looking its best can be time intensive,” Aimee warns. “It may be worthwhile to enlist professional help for viewings if you’re unable to manage it yourself, as this can ensure the property is presented in the best possible light and save you time.”
Curious how much your house is worth? Gilson Gray are offering FREE instant online valuations exclusively for egg members! Click here to see how much your home is worth.
For more information on home-buying, selling or renting across Scotland, visit gilsongray.co.uk or email [email protected]. You can also call their women-strong team on 0131 516 5366.
All eggs can benefit from 10% off residential conveyancing fees. So, if you’re looking to buy a property, just quote 'egg' when you email. All egg members also receive a whopping £400 discount on houses valued up to £400k, and a further 10% discount on values thereafter. Landlords receive 50% discount off management fees for 12 months if you're a paying member, 25% off for non-paying egg members. For all enquiries and valuation requests please email [email protected]. Free online valuation here.
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