Selling your home can feel like a huge task, but with the right guidance and preparation, the process can be smooth and straightforward. Whether you're moving for a new job, downsizing, or simply looking for a change, it’s important to follow a clear plan to avoid the common pitfalls. This blog will take you step-by-step through the process of selling your home, from organising your finances to finalising the sale.
Step 1: Organise your finances
Before you start the process of selling your home, it's crucial to organise your finances. This is especially important if you plan on purchasing a new property after the sale. Knowing your financial standing can help you determine what you can afford in terms of your next home and avoid any surprises down the road. If you require a mortgage for your new home, seek mortgage advice early in the process. A mortgage advisor can help you understand your borrowing capacity, prepare for down payments, and ensure your finances are in order for the sale and purchase. Our sister company Mortgage Scout has been advising customers for over 20 years - they'd be happy to help you see what you can afford for your next home.
Tip: Seek mortgage advice from trusted professionals early in the process so that you’re financially prepared when it's time to buy.
Step 2: Get a valuation
The next crucial step is getting an accurate valuation of your property. The right valuation ensures that you price your property competitively while maximising its value. Real estate agents use their local knowledge and market data to assess your home and provide an accurate valuation based on current trends. A reliable and well-researched valuation can attract serious buyers while avoiding the pitfall of overpricing, which could leave your home sitting on the market for too long.
Tip: Use the services of local experts who understand the market dynamics in your area and can give you a realistic picture of your home’s value.
Step 3: Start completing your paperwork
Once your home is valued, it’s time to start working on the necessary paperwork. Property sales involve a fair amount of compliance and legal documentation. From preparing contracts to ensuring all certifications are up to date, having your paperwork in order is key to avoiding delays later on. Work closely with your real estate agent to complete the necessary documentation to get your home ready for the market. This stage will also ensure that you are fully compliant with all legal requirements.
Tip: Stay organised by creating a checklist of all documents and tasks to keep the paperwork process manageable.
Step 4: Put your home on the market
With your valuation and paperwork in hand, it’s time to list your home on the market. A good real estate agent will use a mix of marketing methods to reach potential buyers. These methods might include high-quality photography, online listings, social media promotion, open houses, and more. The goal is to present your home in its best light to attract as many potential buyers as possible.
Tip: Make sure your home is “show ready” by decluttering and enhancing its curb appeal before listing. First impressions matter!
Step 5: Receive and accept an offer
Once your home is on the market, the offers should start to come in. Receiving an offer can be an exciting moment, but it’s important to review it carefully. Your real estate agent will help you evaluate each offer, considering not only the price but also the terms and conditions. Once you receive a reasonable offer that meets your expectations, you can move forward by accepting it. At this stage, it's important to communicate clearly with the buyer to ensure a smooth transaction.
Tip: Be prepared to negotiate, but also have a clear understanding of the minimum price you’re willing to accept.
Step 6: Finding your new home
If you haven’t already found a new home, now is the time to begin your search. With the help of your real estate agent, you can start viewing properties and exploring options that meet your needs and budget. Your agent’s expertise will help you navigate the competitive housing market and find a home that ticks all your boxes.
Tip: Make a list of your top priorities (location, size, budget) before starting your search so that you can stay focused on finding the right property.
Step 7: Getting on the move
With an accepted offer on your home, it's time to get ready for the big move. Moving involves a lot of logistics, from organising your belongings to finding the right removal company. Your real estate agent can help recommend reliable removal services to ensure your move is as smooth as possible. Don’t wait until the last minute—plan your move well in advance to reduce stress on the day.
Tip: Declutter before the move. Getting rid of unnecessary items will make the packing process easier and give you a fresh start.
Step 8: Arrange a survey for your new home
If you're purchasing a new home, it’s wise to arrange a professional survey. A home survey provides a detailed report on the condition of the property and highlights any potential issues that could affect the sale or require future repairs. This step ensures you know exactly what you’re buying and helps avoid unexpected costs down the road.
Tip: Always hire a trusted surveyor to conduct a thorough inspection before committing to the purchase.
Step 9: Finalise the financials
Now that you’ve found your new home and arranged a survey, it’s time to finalise your mortgage offer and financials. Your mortgage advisor will help you with the necessary paperwork to ensure your loan is approved and all financial matters are in order. This includes confirming the terms of your mortgage, setting up insurance, and organising any other relevant financial documentation.
Tip: Keep an open line of communication with your mortgage advisor to stay on top of deadlines and ensure a smooth transition.
Step 10: Exchange and complete!
At this point, both your sale and purchase are almost complete. The final step is to exchange contracts and set a completion date. Once contracts are exchanged, the sale becomes legally binding, and the completion date is the day you officially hand over the keys and move into your new home. Celebrate - this is the moment you’ve been waiting for!
Tip: Stay organised in the final days leading up to the move to avoid any last-minute surprises.
Selling your home and moving into a new property can feel like a daunting process, but with the right steps in place, you can make the transition as seamless as possible. By organising your finances, working with experienced professionals, and staying proactive throughout the process, you’ll be well on your way to successfully selling your home and finding the perfect new place to call your own.
