Selling your house – how can you best prepare? | Curtis Parkinson

Selling your house this year – how can you best prepare?

14 January, 2019 4 minutes reading time


It’s a new year when many of us re-evaluate our lives and consider making changes, such as selling our homes. Whether you’re looking to cash in, downsize, relocate to a more desirable area, or move closer to a good school, January can be an advantageous time to sell. The market is typically less competitive, meaning buyers may find better deals. As a seller, this means ensuring your property is in top condition and ready to impress potential buyers.

Because moving is such a significant decision, thorough preparation is essential. Before you begin, take some time to reflect on these key questions and ensure you’re entirely comfortable with your answers.

1. Should I sell?

  • Market conditions: If prices in your desired range are soaring, you might not be able to afford a significantly larger house or better location, even with your equity. Conversely, a weak market could mean a lower sale price.
  • Financial situation: Are you in negative equity? If so, can you afford to sell?
  • Alternatives to selling: Could you create more space by extending, converting your attic, or renovating your basement? Factor in the added costs of moving, including stamp duty, to see if staying put is more financially viable. You might also consider renting out your property instead of selling.

2. Are my finances in order?

Finances are crucial when selling a house. Plan and organize them before you start the process:

  • Mortgage: Contact your lender immediately to find out your outstanding balance and if any early repayment charges apply.
  • Valuation: Get your house valued to understand its worth. This will help you estimate how much equity you’ll have after paying off your mortgage.
  • New mortgage: If you’re buying another property, research lenders and get pre-approval for a mortgage. Compare loan amounts and terms.

While exact figures will be unclear until you sell your current home and find a new one, careful planning and research (including expert advice) will help you prepare for different scenarios.

3. What documents will I need to have ready?

Selling a house involves paperwork. Be prepared to provide proof of identity and detailed information about your property:

  • Energy Performance Certificate (EPC): This legally required document shows the buyer your home’s energy efficiency and estimated costs. Your estate agent can usually arrange this, but you must cover the fee.
  • Property Title Deeds: These prove ownership and contain important details about leases, covenants, insurance, and planning documents. Most properties are registered with the Land Registry, especially if purchased after 1990 or mortgaged since. You can check online to see if yours is registered. If not, you’ll need the unregistered title deeds.
  • Additional Forms: Your legal team will likely require you to complete forms such as:
    • Fittings and Contents Form (TA10): Details what stays in the house, setting clear expectations for the buyer.
    • Property Information Form: Provides the buyer with comprehensive information about your property, including utilities, boundaries, council tax, parking, and any known issues or disputes.
    • Leasehold Information Form (TA7): If applicable, this form covers details about ground rent, service charges, and building insurance.

Important: Complete all documents accurately and truthfully, as the information is legally binding.

4. Is my house in the best condition to sell?

The condition of your house significantly impacts its appeal to buyers. Address any outstanding issues:

  • Essential Repairs: Problems with the structure, electrics, plumbing, or insulation can deter buyers. You’ll either need to fix these issues or be upfront about them, potentially accepting a lower offer.
  • Enhance Presentation: Even if everything is in good working order, simple improvements can make your house more attractive. Touch up paintwork, thoroughly clean and declutter, and complete any unfinished DIY projects. These efforts will make your property more desirable to potential buyers.

5. Are we working with the right people to get a sale?

The right professionals can make the selling process smoother:

  • Conveyancer or Solicitor: You’ll need a legal expert to handle the transfer of ownership. Research reputable firms and seek recommendations.
  • Estate Agent: In most cases, you’ll need an estate agent to market your property. Compare agents in your area based on their success rate, trustworthiness, and fees.

While a smooth sale isn’t guaranteed, understanding the process and preparing in advance can significantly improve your chances of success. Good luck with your sale this new year!

Our Advice

If you’d like more information about our conveyancing services or would like to speak to a member of our experienced legal team, please contact us. We’re here to help.

Please note that all views, comments or opinions expressed are for information only and do not constitute and should not be interpreted as being comprehensive or as giving legal advice. No one should seek to rely or act upon, or refrain from acting upon, the views, comments or opinions expressed herein without first obtaining specialist, professional or independent advice. While every effort has been made to ensure accuracy, Curtis Parkinson cannot be held liable for any errors, omissions or inaccuracies.

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