YOUR GUIDE to selling YOUR PROPERTY
1 - Get your property professionally valued
It is essential in any market, to seek a current market valuation of your property, in order to achieve the best price possible within the timeframe that you require. Our Sales Director will value your property responsibly, taking into consideration many factors, such as tenure, length of lease, aspect, floor level, lift, square footage – this will include a market uplift depending on the desirability of your property and current market demand. It is therefore important to present your property to the best of its ability and we can advise on this too.
Our approach is tried and tested and we continually achieve the asking price and in many cases, where the demand is high, we have multiple offers in excess of the asking price.
2 - Appoint your selling Agents
Which Agent to appoint to sell your key asset, can be a worrying prospect, which is why, we will always make ourselves available to you to help with any of your property concerns. In addition to marketing your property on-line and in print advertising, we will also market your property to all existing buyers, thus providing a targeted approach to marketing your property, to achieve the best results in the shortest time.
Prior to marketing your property, we will require our terms of business to be signed, photographs and floorplan to be taken, full description of the property and Energy Performance Certificate (as required by law). We will subsequently commence marketing, which will involve producing a sales brochure, distributing your property throughout a number of on-line property portals, including our own dedicated website and inclusion in the various print advertising campaigns that we have running and promotion of your property to existing buyers and relocation agents.
As standard, we will also work with other local Agents who may also have existing buyers, however, this is at no additional cost. In the event that you want to appoint multiple selling Agents directly and to liaise with each Agent directly, M2 will be happy to coordinate access to your property and securely manage your keys.
3 - Appoint your Solicitor
At M2 Property, we can often sell property prior to it coming onto the market. It is therefore important to appoint an experience Solicitor who perhaps has knowledge of your property already or is experienced in handling the sale of London property. Ensure that you ask your Solicitor for an estimate of their fees and if they will require funds on account to commence the sales process. We are able to recommend several Solicitors if required.
4 - Viewing your property
We will always be present for each viewing at your property and take the responsibility seriously, not to mention the importance of building a relationship with the buyer. We do work long hours and at weekends, since many buyers work long hours and only have late nights and weekends available.
It is important that your property should be left in good presentation, to ensure that all buyers see the property at its best.
5 - Sales offers made on your property
We are legally obliged to inform you of all offers on your property and we will attempt to do so verbally and formally in writing. In addition to the offer itself, we will also detail any special conditions that the buyer explicitly requests and will attempt to obtain the financial status of the buyer and their ability to perform – since all of these aspects should be considered for any offer.
If you have instructed several Agents directly, it is crucial to inform them that you have an offer, but you should not disclose the value of your offer.
Upon your acceptance of the offer, we will prepare the sales memorandum which requires the name of your Solicitors, the contact name and contact information. We will issue the sales memorandum to all parties involved, which will commence the whole Conveyancing process.
6 - Selling your property
It is essential, to promote good communication throughout the sales process. At M2, we will contact all parties regularly to assist in the sales process. However, you should be aware that there are no legal obligations until exchange of contracts, therefore it is essential to handle issues swiftly and seek advice, where you are unsure.
The key elements of any sale will include:
Once all enquiries have been answered to Your Satisfaction and the satisfaction of your Solicitor, all parties will agree when to sign and exchange contracts. Up until this point, there may be no formal dates to adhere to and relies on both Solicitors acting for the Purchaser and Seller to respond with complete information, including responses to all enquiries.
Once the contract has been signed by both parties a deposit of 10% normally, will be transferred between Solicitors and the date for completion is mutually agreed and written into the contract.
This is the point at which most people then book their removal services, however, it should be noted that there is no guarantee, having exchanged contracts that the buyer will definitely complete the sale and provisions are contained within the Contract in the event that either party fails to Complete the sale.
7 - Having sold Your Property - Completion of Contracts
A date when completion should occur is written into the contract and this is when the property legally becomes yours to enter, after transferring the remainder of the monies payable, normally 90% of the total purchase price as agreed in the Contract. Once funds have been received and any other specified obligations have been met, the Agent is given the instruction to release keys to the Purchaser.
CONGRATULATIONS, YOU HAVE NOW SOLD YOUR PROPERTY