Complete Guide to Selling Property in South London
If you have a property to sell in South London, then we can definitely help. Selling your home can be a big undertaking, especially when undertaken in conjunction with buying a property.
There are several measures you can take to ease the process and lighten the burden selling your home. The first and the most important is by engaging with us to sell your property for you. We’ve got years of experience selling homes all over South London and we can help you through the process step by step.
Before you put your house on the market
Due to the international nature of the London housing market there is not much seasonal variation in terms of when to sell for the best prices, so timing is not as important in the capital as in other areas of the country.
Once you’ve decided to take the plunge and sell up you will need to begin preparing your property for viewings. Before you put your house or flat on the market sort through your possessions and get rid of the clutter. If you need to dispose of large items of furniture do it before you begin the marketing process as cluttered houses are not attractive to buyers and will take longer to sell.
Prepare documents like gas certificates, additional building planning permission permits, building regulations, energy efficiency documents and utility bills, anything which could provide useful information to potential buyers about the property to avoid delays later on in the process. If you have any environmental reports which could provide information on flood risks this could also prove useful.
Getting a Valuation
You want to get the right price for your property so do your homework before the valuation. Look for how much similar properties are going for in your area and talk to us about what’s going on in your local market.
Similarly, valuations conducted by your mortgage provider can also be unnecessarily low as they are looking to protect their own financial interests, it is therefore essential that you have an understanding of the market before you trust a valuation to ensure you are getting the highest possible price for the property. Remember that negotiation is expected, especially in the cut-throat world of the London property market, so try to set an asking price 5-10% higher than the price you are willing to accept.
Making the Most of House Viewings
After agreeing on an asking price it is time to get potential buyers in to view the property. We all know the importance of first impressions so to maximize your chances of selling so think about how you can bring out the best in your property.
Consider the exterior of the house. Clean the windows and mow the front lawn, if the front door needs a new coat of paint get the paintbrushes out before the viewings start coming in. The exterior of the house is the first thing people see and will dictate their first impressions of the property.
Regarding the inside of the property, focus on cleanliness, tidiness and maintenance. Clear out all the excess clutter and furniture which could make the room feel smaller but try not to leave the space completely void of personality. Many unimaginative buyers buy with their eyes and showing a lived in property with your furniture and decor could help give ideas about how the space could be used. That being said, neutral wall colours are safer as you don´t want bright garish walls scaring off potential buyers.
Maximize your selling potential by using mirrors to fill blank wall spaces, they help make rooms feel light and spacious and vases and plants can make the property feel homely and lived in. Additionally, putting single beds in small bedrooms can help to get the most out of smaller spaces. Consider touches like lighting a fire, brewing fresh coffee or baking bread. Nice smelling houses are alluring to buyers and this should definitely be a consideration for smoking households. By placing bowls of vinegar around the house for three days then emptying them out, you can remove a lot of the smells of stale smoke from your living space.
Receiving an Offer
Congratulations, your property has received interest and now you have got a formal offer. Be prepared to negotiate, you don´t have to accept the first offer you receive and you don´t even have to accept the highest offer. Buyers who don`t have to wait for mortgage approval, or aren´t selling a property themselves are often preferable as the paperwork process will be completed much faster than those awaiting approval or in a chain.
Upon accepting the offer, you may be asked to take the property off the market. You don´t have to do this but the buyer is just protecting themselves against you accepting a higher offer after you have agreed a price with them. Equivalently be aware that a buyer may change their offer at a later date if they feel they might be able to negotiate the price down even lower.
Conveyancing is the legal name given to transferring ownership from one person to another. It is worth choosing a conveyancer before you agree the sale but they can only begin drawing up a contract after you accept an offer.
You can shop around and compare prices for conveyancers. It is sometimes possible to get a no-sale no-fee arrangement, whereby if the sale falls through you don´t pay.
You will need to establish the finer details with the conveyancer like what fixtures and fittings you will be including with the property. You will also have to complete a questionnaire about the property. This is where you need to disclose the legal boundaries of the property but it also includes some more personal questions like any neighbourly feuds.
Once the contracts have been exchanged there is usually a period of around two weeks to make necessary arrangements before you can release the keys to the buyers.
Moving Out and Completing the Sale
You´ve maneuvered your way through the conveyancing minefield and are all ready for completion. It is advisable to move out before this day to minimise stress levels, this also allows the buyer to check the property has been left in the agreed condition with the agreed fixtures and fittings.
On the final day of completion, the money is transferred and the keys are exchanged, often at midday. Your solicitor will update the Land Registry with the new owner’s details and all that remains to do is say goodbye to the house.
The solicitor’s fees will be sent to you on completion of the sale along with the sale price of the house.