Are you looking to sell in Fife? Sometimes it’s hard knowing where exactly to start. Our step by step guide might look like a lot of information but it can really be a good reference point to help you during this process.
1. Work on your finances.
Not sure where to start? Our mortgage partners will give you an idea of what you can afford to buy based on your circumstances.
2. Choose your estate agent.
You have options. Sell yourself, use a local estate agent or an online estate agent.
Do some research, compare estate agents by how quick they sell, how close they get to the asking price or above and how successful they are. Being the biggest agent in the area doesn’t mean you are the most successful. It only means you list more. Ask for our ebook: 5 things you must ask an Estate Agent when selling.
3. Get a Home Report.
You will need one to provide to potential buyers. Often the Estate Agent can arrange this.
4. Decide how much.
Get to know your local market. This will help you decided.
Get several valuations. Don’t fall into the trap of going with the highest either because ultimately, it’s the surveyor that does the home report that will set the valuation. Buyers still like to negotiate, so be prepared for this and work out what you are willing to accept with your Estate Agent.
5. Get a conveyancing solicitor.
They handle the legal work.
Get an overview of how much conveyancing costs. If should be around £1,000 all in
6. Fill out your paperwork.
There is going to be a lot of it from a selling agreement to a property questionnaire for the home report.
7. Accept an offer!
Congratulations, the estate agents legally must now pass all offers over to you.
Once you’re happy with the offer you can formally accept.
8. Work on your draft contract.
You and the buyer will have to negotiate-
• The length of time between exchange and completion.
• What fixtures and fittings will be including, and if they have a cost attached?
• Any survey discounts.
Ideally your Estate Agent should have most of this agreed at the offer stage.
9. Concluded missives.
This is the process when you become legally committed to selling your property, and they become legally committed to buying from you.
When you sell the house, you are responsible for maintaining the property until the sale is fully complete.
10. Move out.
It is less stressful to move out before the day of completion if possible.
Completion is when the property changes ownership. Once the keys have been handed over.
11. Pay off your mortgage.
If you have an existing mortgage the mortgage company will have given you and the solicitor an outstanding amount for the day of completion.
Now the buyer’s solicitor has transferred the money to your solicitor that will essentially pay off the mortgage for you.
12. Settle with everyone.
Once completion has been finalised, your conveyance solicitor will send you an overview covering all their costs, as well as outing the sale price.
If you’re buying and selling at the time, you can settle for both transactions at the same time.
There can sometimes be a small discrepancy and you may even get a little refund.
As ever if you are nervous or unsure about the process and need advice please feel free to ask any of our Estate Agents and they will be happy to help.
