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COVID-19 UPDATE: We are still open and operating safely for buyers, sellers, renters and landlords. Find out more
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Find out more about the selling process with our frequently asked questions from sellers
Before you start searching for a property, the first thing you should know is how much mortgage you are likely to be offered, what the costs of buying could be and how much deposit you could afford.
We have provided a number of calculators on the website to help you understand your finances.
Getting financial advice
If you would like a more accurate view of what the process will cost and how much you could borrow as well as help finding the best mortgage deal for you you can speak to Embrace Financial Services.
There are three main costs involved in selling a property:
Estate Agent Fees will either be a percentage of the purchase price, or a fixed fee. When estate agents visit to value your home, make sure they outline their fees so you can take these into account.
You are legally required to provide an EPC when you market your property for sale. This outlines the energy efficiency rating of your property. The JNP Partnership can organise this for you. Contact your local branch for a quote for how much this will cost.
Conveyancing means the legal transfer of your property to the buyer, and you will need to employ a solicitor to make this happen. Prices will vary depending on your circumstances. The JNP Partnership can introduce you to a solicitor and offer a no sale no fee conveyancing service with a guaranteed fixed price to keep everything easy. Contact your local branch to receive an accurate quote for how much this will cost.
You may also decide to pay for extras such as professional photography or advanced web positioning. And don’t forget about removals. Ask your agent to outline all these costs at the start of your sale so that you can budget your move.
Your estate agent should accompany all viewings, but you may decide that you’d like to be present. It’s really up to you.
This partly depends on the conditions of the offer. Remember, neither the buyer or the seller is bound to the purchase or sale until the contracts are signed, so it’s worth keeping your options open.
Every sale is different. Both your position and the buyer’s position needs to be taken into account before this question can be answered accurately. If your home has been realistically valued, you should expect to receive offers within the first four weeks. Then assuming your buyer has to apply for their mortgage the exchange of contracts normally takes between 4 and 6 weeks, the completion takes between 2 and 4 weeks. So in total you should expect 12-14 weeks to complete the sale.
In England, all sellers are required to purchase an EPC for a property before they sell it. Estate agents are must display the EPC rating whenever they market the property. If a property does not have an EPC when marketed the buyer and the agent risks a fine. Please be advised that this does not apply to Grade II Listed properties.
‘Conveyancing’ is everything that needs to happen to legally transfer your home to the buyer. You will need a solicitor to make it happen. The JNP Partnership can introduce you to a solicitor. It’s a no sale no fee conveyancing service offered at a fixed price so you know where you stand. Find out more about JNP Conveyancing or request a callback.
No. The buyer is responsible for paying Stamp Duty.
In England you do not need to arrange a property survey, but it is likely that the buyer will, and so a surveyor will arrange an appointment to visit you home. The five key things a surveyor will be looking for are problems with utilities, damp, cracking, problems with roofs, and timber defects. In addition, your buyer’s mortgage lender will organise a mortgage valuation to confirm that the property is worth the money being leant.
As part of the conveyancing process, your buyer’s solicitor will perform searches of Land Registry and Local Authority information in relation to your home. They will be checking for planning history and any potential developments around roads, drainage and mining near the property.
Once the sale has been agreed, your solicitor will draft a contract. The seller’s solicitor will confirm the details of the property and perform searches. At the same time, the buyer’s mortgage lender will conduct a mortgage valuation and send a mortgage offer to the buyer. When all of this is complete, you will be ready to sign the contract and agree the completion date.
The seller or the buyer can pull out of the sale at any time and for any reason until the point that both solicitors have receive signed contracts from both parties.
When both contracts have been signed, the buyer’s solicitor will request the mortgage from the buyer’s lender. Once these funds are released, then your solicitor and the buyer’s solicitor will consult both parties and agree a completion date.
Your title deeds give proof of ownership of the property and will need to be transferred to the buyer as part of the conveyancing process. These are usually held by your mortgage lender, and it will be your solicitor’s responsibility to obtain these.
You are not required to leave any furniture or furnishings in the property, but you may agree to include some as part of the negotiations of the sale.
The contract will specify the completion day, and usually the buyer will be asked to collect the keys to their new home from the estate agent. In most cases the seller is asked to vacate the property by 12pm.
In most cases your are only required to pay Capital Gains Tax if the property is not your main home.