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Do You Need A Solicitor To Sell Your House?

Do You Need A Solicitor To Sell Your House?

Looking at whether you need a solicitor to sell your house, and the difference between solicitors and conveyancers.

Tom Condon
Tom Condon ★ Digital Content Writer

Table of Contents

Do You Need A Solicitor To Sell Your House?

Hiring a solicitor to sell your home is not legally required, but it is highly recommended. 

 

Selling a house can be complex, and many legal and financial considerations must be considered. A solicitor can help you navigate the process and ensure everything is done legally and correctly.

 

When you sell your property, a solicitor will offer you a conveyancing service where they will check the legal title of the property, ensuring you have the legal right to sell the property and make sure there are no restrictions or issues with the title.

 

The solicitor will guide you through the process from the moment you have accepted an offer to the exchange of contracts to completion. 

 

You will need a solicitor or licensed conveyancer, whether you are selling a property via auction, an estate agent, cash buyer or privately.

What Does A Solicitor Do?

A solicitor, property lawyer or licensed conveyancer is a legal professional who provides legal advice and representation to clients. 

 

Their day-to-day role is advising clients on legal matters, representing clients in legal proceedings, drafting legal documents to ensure they are legally sound, conducting legal research, and managing cases. 

 

A solicitor’s primary goal is to help their clients navigate the legal system and achieve the best possible outcome in their case. Most solicitors will have a speciality in a particular area of law, for example, property or medicine.

What Does A Conveyancer Do?

A property or conveyancing solicitor will provide legal advice and assistance to clients involved in property transactions. Their role is to ensure that the sale or purchase of a property is legal and to protect their client’s interests. 

 

A conveyancing solicitor will advise clients on the legal aspects of buying or selling a property, including contracts, searches and surveys. They will draft legal documents, such as sale contracts, leases and transfer deeds.

 

A property solicitor conducts various searches, such as local authority and land registry searches, to ensure that the property is legal and that no issues could affect the transaction.

 

If needed, a property solicitor will negotiate with the other party’s solicitor on behalf of their client to ensure that the terms of the sale or purchase are fair and reasonable. 

 

To ensure the process runs smoothly, the property solicitor will liaise with mortgage lenders to provide the necessary funds for completion. They will also manage the transaction from start to finish and resolve any legal issues if they do appear. 

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Should You Hire A Solicitor Or A Licensed Conveyancer To Sell Your House?

All solicitors can legally perform the conveyancing process, but again we recommend that you find a property specialist as they will provide a more streamlined service. 

 

When it comes to selling a house, you can hire a solicitor or a licensed conveyancer, who are qualified and regulated professionals who can help you sell your property. 

 

However, there are some differences between the two that you should consider before making a decision. 

 

Solicitors are qualified lawyers who have completed a law degree and professional training; they will have a broader legal knowledge and can provide legal advice on a wide range of matters beyond conveyancing – they can even represent you in court if necessary.

 

Solicitors can help you in complex house-selling situations like divorce or probate as they have a more general understanding of the law. 

 

On the other hand, licensed conveyancers specialise in property law and are trained to handle all aspects of property transactions, including buying and selling properties, remortgaging and transfer of equity. The Council for Licensed Conveyancers regulates them. 

When deciding whether to hire a solicitor or licensed conveyancer to sell your property, you should consider your individual needs and the complexity of your transaction. 

 

A licensed conveyancer may be suitable if your transaction is straightforward and you do not require advice beyond conveyancing.

 

However, a solicitor may be better if you need broader legal advice or representation.

How Do You Find A Solicitor Or Conveyancer?

There are several ways to find the right solicitor or conveyancer for you. The legal professionals will handle your property transactions, including asking for recommendations, using online directories, checking reviews, checking accreditation and getting quotes — so it’s vital that you find the right one for your situation.

 

Ask family members, friends, or colleagues who have recently bought or sold properties for recommendations when looking for a legal advisor. 

 

Many online directories exist for solicitors and conveyancers, such as The Law Society’s Find A Solicitor or the Council for Licensed Conveyancers’ Find a Conveyancer. 

 

By reading online reviews and testimonials from previous clients, you can get an idea of the solicitor’s experience and how their customer service is. 

 

It would help if you always looked for any mention of contact time, as you will need to stay in touch with your solicitor as much as possible to keep the process moving forward. 

 

Most solicitors will be part of an agency and have a conveyancing team behind them, although you may also be able to find independent solicitors.

What Are The Average Conveyancing Fees For Selling A House?

When you sell your property, the conveyancing fees will vary depending on if your property is:

 

  • Leasehold or freehold.
  • Where the conveyancer is based.
  • If you are using a licensed conveyancer or solicitor.
  • The price of your property.
  • The length of your property chain.
  • If you are in a shared ownership property. 

 

However, saying this, the average cost of a conveyancer in the UK is £610-£950, depending on the value of your property. You can expect to pay around £300 more if the property is leasehold. 

 

We recommend doing your research, getting conveyancing quotes from many different solicitors, and weighing these up against their online reviews before deciding.

What Is The Conveyancing Process?

The conveyancing process is the legal work behind a house purchase or sale; it will typically involve:

The conveyancing process will begin when you instruct a solicitor or licensed conveyancer to act on your behalf. We recommend finding a solicitor with prior property knowledge and excellent reviews.

Your solicitor or conveyancer will draft a contract of sale and send it to the buyer’s solicitor or conveyancer for approval.

They will then conduct various searches and enquiries to ensure the property is legal and suitable for purchase. This will include the following:

 

  • Searches with local authorities.
  • Checking Title Deeds.
  • Raising any necessary enquiries with the buyer’s solicitor.

If you require a mortgage to purchase your onward purchase, the solicitor will liaise with your mortgage provider to ensure the funds are available for completion.

Once all the necessary checks and searches have been completed and any issues resolved, you and the buyer will exchange contracts. This is a legally binding agreement to sell and purchase a property.

On the agreed completion date, the purchase price balance will be paid, and ownership of the property will transfer to the buyer.

Your solicitor will register the property in your name and pay any necessary stamp duty; they will also send you a final report and account.

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What If Your House Sale Falls Through?

If a house sale falls through, the solicitor’s role will depend on the circumstances and terms of their agreement with you. In most cases, the conveyancing fees must still be paid, even if the sale does not progress.

 

However, some solicitors may offer a “no sale, no fee” arrangement, where they will only charge fees if the sale is completed. 

 

It’s essential to check the terms of the agreement before you instruct the solicitor before hiring them to ensure that you understand what fees will be payable in the event of a failed sale.

 

If the sale falls through due to issues with the legal process, such as problems with the title or searches, the solicitor may need to continue working to resolve these issues even if the sale does not proceed — in this case, you will still need to pay the solicitor fees.

 

Suppose the sale falls through due to issues outside the solicitor’s control, such as the buyer pulling out or the property being withdrawn from the market. In that case, the solicitor’s role will be limited to advising on legal implications and finalising outstanding matters, such as returning deposited funds. 

 

In any case, it’s essential to maintain good communication with the solicitor throughout the process and to seek their advice and guidance if any issues arise.

Can I DIY The Conveyancing Process?

While it is legally possible to handle the conveyancing process yourself, it is generally not recommended.

 

The conveyancing process involves many legal and financial considerations, which can be complex and time-consuming.

 

You must have a solid understanding of property law and be familiar with the conveyancing process to complete the process correctly and efficiently. 

 

Instructing a solicitor or conveyancer to carry out the legal legwork is generally recommended. Hiring a qualified and experienced solicitor or licensed conveyancer to handle the process on your behalf is worth the investment. 

 

There are many potential risks associated with DIY conveyancing, including:

 

Making Errors Or Omissions

With a proper understanding of conveyancing’s legal and financial aspects, you may avoid errors or omissions that can have serious consequences.

 

Delays

Handling the conveyancing process yourself can be time-consuming, and if you make any mistakes, it can cause delays that can be costly and frustrating. 

 

Legal Issues

If legal issues arise during the process, such as buyer or property title problems, you may need more legal expertise to resolve them. 

 

Liability 

You may be liable for any resulting losses or damages if you make any mistakes or omissions during the process.

Can A Solicitor Help When Selling A Leasehold Property?

It doesn’t matter if you are selling a leasehold or freehold property; you should seek the guidance of a solicitor. 

 

However, as leasehold properties tend to be more complex, we recommend hiring a specialist leasehold solicitor trained to deal with tenanted properties. 

 

A leasehold solicitor or conveyancer will be able to help you review the lease and advise you with any restrictions or obligations that may affect the sale, such as requirements to obtain consent from the landlord or comply with certain conditions. 

 

Like the standard conveyancing process, the solicitor must also conduct searches to ensure that no outstanding charges or arrears are owed to the landlord, third party or management company that could affect the sale.

 

The property solicitor will then advise on any service charges or ground rent payable and ensure that these are properties apportioned between the buyer and seller. They will then draft any legal documents, such as the contract of sale and transfer deeds. 

 

Once completion day comes around, the leasehold solicitor will then handle the completion of the sale, ensuring that all necessary documentation is signed and exchanged and that the sale proceeds are property distributed.

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What Is The Cheapest Way to Sell A House?

What Is The Cheapest Way to Sell A House?

The cheapest way to sell a house is through us, but what are the other options available?

Tom Condon
Tom Condon ★ Digital Content Writer

Table of Contents

What Is The Cheapest Way to Sell A House?

The cheapest way to sell your house in the UK is to sell without the assistance of a traditional estate agent, which could be done privately or through an online estate agent. Doing so can sidestep the high commission fees that conventional estate agents typically charge. 

 

Other avenues of house selling, like Cash Buyers and Auctions, will position themselves as the cheapest way to sell a house, but you will be losing profit on the property as they sell it for below market value.

Are Traditional Estate Agents The Cheapest Way To Sell A House?

Selling a house with a high street estate agent was one of the most common ways to sell a property, but there are better options. 

 

Local estate agents have physical offices and places of work, providing an in-person service. If your property sale does not complete, you usually won’t have to pay anything. 

 

The traditional estate agent usually offers a more hands-on approach by conducting valuations, photographs, floorplans, EPC surveys, advertising on property portals, viewings and negotiations on your behalf. 

 

You may also benefit from receiving the best price for your property as local agents may try and sell your property for more as they receive a larger commission. 

 

The downside to traditional estate agents is that they will charge anywhere from 0.9%-3.6%+VAT of the selling price of your property. If your property sells for £290,000, then that could be anywhere between £2,610 to £10,440.

Is Selling Privately The Cheapest Way To Sell A House?

Selling privately is not the cheapest way to sell your house, but it will be less expensive than selling to a traditional high street estate agent. 

 

Although you won’t have to pay any estate agent fees, you will have to pay for legal fees, removal costs, EPC costs and everything else associated with selling a property.

 

Selling a house privately will also mean that you need a property expert to guide you through the process, and you will be required to do much of the leg work.

 

Although this may, on the surface, seem like a cheaper option than using an estate agent, it’s also important to note that it will be one of the longer processes to sell your property. 

 

As a result, you will spend more money on utility bills and council tax while you wait for the property to sell. 

 

The private house selling process can be pretty daunting, so we have written this step-by-step guide to help you decide if it is right for you:

It would help if you used property portals such as Rightmove and Zoopla to see what similar properties are selling in your area, and this will allow you to get a general idea of how much to set your asking price at. 

 

You will also need to work out a figure that would be the lowest you are willing to sell the property for, as this will come in handy during the negotiation phase.

Once you’ve set your asking price, you must get your property into selling condition — a fresh lick of paint, de-weeding your garden, new carpets and improving your curb appeal.

Once your property is in selling condition, you should take photographs of your house and write a stunning description to entice buyers. 

 

As an independent party, you cannot post a property on Rightmove or Zoopla, but you could advertise your house in the local paper.

When you begin to get interested potential buyers, you can organise viewings of the property. You should ensure that you stay organised and don’t double book any viewings while giving yourself enough time to show the buyers around the property.

If the potential buyers appreciate your property, they may put forward an offer. You will likely need to negotiate this offer with the potential buyer and remember the lowest selling price. 

 

Being flexible will be helpful in this situation but try not to go beneath your lowest selling price. It can be somewhat stressful if you have not negotiated before, especially when you need an estate agent to do it on your behalf.

Once negotiations have been satisfactorily agreed, you must send the potential buyer written confirmation of the agreed selling price. This process is not legally binding, but it will prove that you are serious about selling to the buyer.

After accepting the offer, you can begin instructing a solicitor and starting the conveyancing process. 

 

This is the most important and longest part of the house-selling process, and while you DIY it, we highly recommend that you outsource it to a legal professional.

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Are House Auctions The Cheapest Way To Sell Your Home?

Selling a house via a property auction will allow you to sidestep estate agent fees and sell your property far more quickly when compared to trading on the open market. 

 

The process is relatively simple; all you need to do is find an auction house (auctioneer), decide on a reserve price, prepare your property for photographs and open days, and then get ready to exchange contracts on the auction day.

 

The auctioneer will do most of the leg work for you, such as marketing, conducting house viewings/open days and handling the negotiations for you on the auction day. Your property will sell if the reserve price you set at the start has been met. 

 

The downside to selling via an auction is that although you are sidestepping estate agent fees, you will have to pay legal, advertising, room hire, and auction fees.

 

The auction fees are a commission of the sold price sold to the auction house, which is usually around 2%+VAT of the final sale price of your property. 

 

If you sold your house for £290,000, this could be £5,800+VAT which may be more than selling with an estate agent. 

 

There is also no guarantee that your property will sell at auction, meaning you will lose money on legal fees and the auction costs and still have a property to sell.

Is Selling To A Cash Buyer The Cheapest Way To Sell A House?

Using a cash buyer to sell a home may only sometimes be the cheapest way to sell a house, as you will be trading below market value. Cash buyers may be investors looking for a good deal and may offer a lower price than the market value.

 

It’s essential to compare offers from different cash buyers and weigh them against the property’s market value, which you can work out by using recently sold house data from your local area on Rightmove or Zoopla.

 

Although Cash Buyers do not require a mortgage to buy your property, closing costs and fees may still be involved with the transaction, so it’s important to compare these costs when considering different offers. You will also need to cover solicitor and conveyancing fees. 

 

Cash buyers may want to purchase your property as is, as they will be looking to renovate it and flip it for a profit, which can benefit you if the property needs repairs. 

 

However, if the property is in good condition, you may benefit from selling with an online estate agent for a higher price. 

Is The Cheapest Way To Sell A House Via A Part Exchange?

Part exchange can be a good option for selling a house and securing a new property, but better alternatives may exist.

 

A part exchange is selling your property to a home builder or developer in exchange for a new property from them. 

 

The process can be a convenient option as it eliminates the need to find a buyer for your current property, and you can move straight into the new build once it has been built. 

 

However, the cost of the new property may be higher than your current property’s value, so that you could pay more overall. 

 

Additionally, the developer may not offer you the total market value for your current property — they will usually give you around 80%-85% of your market value.

How Does The Part Exchange Process Work?

You must find a new build development and approach a developer to check if they offer part exchange on their properties.

 

The developer will then check that your property is eligible for a part exchange and organise for two independent estate agents or valuers to view and evaluate your property.

 

The two valuers will be asked to value your property based on a selling price rather than the asking price. Once the valuations have been received, the developer will make you a formal offer, usually below market value.

 

If you accept the offer, then the conveyancing process can begin. The downside to a part exchange is that even though you exchange contracts, you may be met with a delayed completion.

 

Delayed completion is when there is no guarantee when your property will be finished, so there is no exact completion date. By the time you’ve sold your property, your new build may still need to be built, and you will have to pay for temporary accommodation.

Are Online Estate Agents The Cheapest Way To Sell Your House?

Online estate agents tend to be cheaper than traditional high street estate agents, as they typically offer a range of fixed-fee packages, which are more affordable than the percentage-based commissions of conventional agents. 

 

This is particularly advantageous for higher-value properties, as the fixed fee can be significantly less than the percentage of the house sale price.

 

Online estate agents are estate agents that operate almost exclusively online. But, most online agencies will offer a more basic service than a high estate agent, which comes at a lower cost. 

 

Some online estate agents will charge additional fees for services such as viewings and open days, and some may require payment upfront before any sale has been made. 

 

They may also offer a different level of support than traditional agents, which could disadvantage those less experienced in the selling process. 

 

But not all online estate agents are the same.

Which Online Estate Agent Is The Best To Sell My Home?

If you want to sell your house for free without all the fees and hidden costs, you’ve come to the right place.

 

The Property Selling Company offers a complete online estate agent service without fees because we want to change how you sell houses. The days of expensive solicitor fees are behind us; we’ll cover everything so you don’t have to. 

 

By offering you a tailored service, we will be with you every step of the way and carry out all the leg work. We will advertise your property on Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals for free. 

 

Selling your property has always been challenging; over the years, we have built a seamless process to provide excellent service and help you sell for free. 

You will benefit from our team’s expertise in the property industry and marketing, legal and completion services.

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No Onward Chain: What Does It Mean?

No Onward Chain: What Does It Mean?

Looking at what no onward chain means, how it can affect you as a buyer and a seller, and who we can help you sell in as little as 28 days.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

In the wonderful world of property, the general rule of thumb is the fewer people who are involved, the smoother the process runs. You should be looking to sell your house in the shortest property chain possible. 

 

If you are selling a property, then chances are, you have heard the phrase ‘no onward chain’ thrown about. 

 

But what exactly does it mean? 

 

In this blog post, we are going to be looking at what it means if a property has no onward chain, whether it is a good thing or not, and how it can affect your house sale. 

What does no onward chain mean?

If a property is classed as no onward chain, it means that it is ready to be sold immediately. Also referred to as no forward chain or no upward chain, it means that the vendor does not require the funds to move into their new house, they are not looking to purchase a new property straight away, or they are happy to move into rented accommodation. 

 

When it comes to your typical house sale, sellers are often relying on each other for their sale to go through. This is referred to as ‘the property chain’. If a seller has no onward chain, they are reliant on no one when it comes to moving on after the sale of their house. 

 

 An example of a no onward chain property would be a new build. As there are no occupants to move out of the property and the builder is selling the property, there is nothing to get in the way of the sale. 

 

If you are a seller it works in your favour to be selling your home to a buyer that is no onward chain as they can buy your property ASAP as they will not need to sell their current property to buy yours. 

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Is no onward chain good?

Whether or not no onward chain is a good thing is down to personal choice. But as a rule of thumb, it is usually viewed as a good thing. A no onward chain makes the buying/moving process a lot simpler, which in turn helps it run smoother. 

 

If you should find a buyer who is no onward chain, it should help you achieve a fast and smooth sale. It also helps to reduce the fact that your sale will fall through.

Is it easier to sell a house with no chain?

Every house sale is different, however, selling a house with no chain is often an easier task, as you are not reliant on the sale of your current property. This means that you can afford to take your time to find the most suitable buyer, without the time pressure of a property chain. 

Examples of no onward chain property

A property with no onward chain is more common than you may think on the open market. Below are some examples of the different types of property with ‘no onward chain’. 

Some sellers decide they want more time to find a new property and so will move into rented accommodation instead of immediately looking for a new property. This will mean that the funds from the sale will not go towards a new house straight away, getting rid of any property chain there may have been. 

A property that has been inherited, regardless of whether it is going through probate or not, is usually a property that people are looking to sell. This will mean that an inherited property has no onward chain, as the money will not usually be used to purchase a new property. 

If a property is a new build, it will not have any occupants. They are often bought off the developer and so the money won’t be used to purchase a new property afterwards. 

Selling a property with tenants is not the easiest of tasks, and so they will often not be looking to purchase a new property after. 

Should a mortgage lender take back possession of a property, then they will be required to sell the property. The money from the sale will go towards paying off the debt, rather than buying a property. 

As a rule of thumb, property investors will usually have a large portfolio, and so when they are looking to sell it on, they will not be looking to jump straight back into purchasing a new home, meaning there is no onward chain. 

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What are the advantages of a no onward chain sale?

When it comes to selling through a no onward chain buyer there are plenty of advantages. The main advantage is that a no onward chain buyer will offer you the best chance at a fast and smooth sale. They are often quicker and with less risk as the buyer does not come with troubles that buyers in a chain can often bring. 

Can a no onward chain sale fall through?

Even though sales with a no onward chain buyer are usually more secure than those without, the risk is still there. Unfortunately, no sale is 100% complete until the completion day is over. Below are some of the common reasons why a house sale may fall through: 

 

  • The buyer is unable to secure a mortgage 
  • One of the preceding sales in the chain falls through 
  • The buyer or the seller changes their mind 
  • The sales process gets delayed by the conveyancer, buyer, or seller 
  • The survey highlights structural issues with the property

What's the difference between no onward chain and chain-free?

When a buyer is classed as chain free, it means that they are not purchasing a new property with the funds they get from the sale of their home, so first-time buyers are classed as first-time buyers, as they are not reliant on a sale to purchase. Whereas when a property has no onward chain, the property chain will end with the sale of that home. 

 

No onward chain is the end of a property chain, whereas a chain-free buyer can often be the beginning of a sale.

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Want to get sold with no onward chain?

Don’t want to the hassle of finding a no onward buyer on the open market? Then look no further! 

 

Here at The Property Selling company, we believe that selling a house should be three things: fast, effortless, and free.

 

We offer you a full online estate agent service, without the fees – because it’s our mission to change the way you sell houses. 

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete.

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free! 

 

If you are ready to sell your home in as little as 28 days, then get in touch today and fill out one of our fast, free, no-obligation forms for your house valuation today!

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How to Prepare Your House to Make It Sell Quickly

How to Prepare Your House to Make It Sell Quickly

Looking at our top tips to sell your house quickly, how you can add value to your home, and how we can help.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

Putting your property on the market can feel like a daunting prospect, especially if you are looking to sell your house fast. Thankfully there are steps you can take to help make your home appeal to buyers and secure a fast sale. 

 

These steps are referred to as staging or dressing your house for sale and can be a simple and effective way of securing not only a fast sale, but also a good price. 

 

In this blog post, we will be looking at the importance of staging your house for sale, the effect dressing your home can have on your property sale, and a sure-fire way to a quick house sale. 

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How can I make my house look more appealing to buyers?

The best way to sell a property quickly and make it appealing is by staging or dressing your property. This refers to a way of setting up, or staging, your home in a way that impresses buyers without being too obvious. A well-staged home can be the difference between getting the sale price you want, and the sale price you will settle for.

Is it worth dressing a house for sale?

Whilst it can take a bit of effort to correctly stage your home, it is a good way to sell faster and can increase your sale price. Whilst it is certainly possible to stage your home yourself, if you are willing to pay a little extra, you can pay a professional to stage your property for yourself. However, if you are looking to save money, it is both worth it and possible to stage your home on a budget. 

What are the benefits of staging a property for a viewing?

There are many benefits to staging your home for a showing. Not only will it help your home sell faster by securing a quick sale, but it will also attract more buyers. According to a survey done by Movewise, 94% of those surveyed stated that staging a property increases the number of showings it gets and 100% agreed that it leads to higher-quality photos. Another benefit to consider is that it can help you to achieve a higher price compared to those who don’t stage. 

Do houses sell better empty or furnished?

When it comes to selling a house that is furnished compared to one that is empty, the furnished house will usually be the one that sells quicker. This is because whilst homes for sale should be tidy and minimalist, they still need furniture to help the seller envision themselves living there. It will also be easier for them to imagine how they will make use of the space. By seeing how your furniture sits in a room, they will be able to compare it against their own. 

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How to present your house for sale?

Once you have made the decision to put your property on the market, you are ready to start your preparations for viewings. To help you out, we have compiled our top tips for selling your home fast by staging your home for a sale: 

Deep clean

First impressions matter so it is important that as soon as your buyers step over the threshold, you need to make sure the property is clean.  Deep cleaning is one of the most cost-effective ways to make your property appeal to both possible buyers and local estate agents who may cover to evaluate the property.  Although it may sound obvious, if you are looking to find a buyer then the best way to go about it is by performing a deep clean of your property.

 

This can include shampooing your carpet, washing sofa cushions, mopping, dusting, and polishing. Even making small changes such as these can make a room feel brand new. While it can be costly, it is important not to underestimate the power of professional cleaning, especially when it comes to upholstery and carpets. After all, a clean and tidy house is the key to selling your property fast. 

Declutter

When you are staging a home for sale, it is important to make sure the space is clean and clutter-free. This step goes hand in hand with deep cleaning, as the two are usually done consecutively. When you de-clutter, you should aim to throw away anything that you will not be taking with you in the move. It will help give possible buyers a better idea of what the home can look like. 

 

The main advantage of decluttering is that it will help you out when it is time to move. Rather than moving all your unwanted possessions with you from one house to the next, you have the option to cut down on mess and removal fees by getting rid of what you don’t want before the move. 

 

As a rule of thumb, you should be able to look through your cupboards and storage solutions and they should be 75% full. 

Freshen up your rooms

One of the most cost-effective ways to give your walls a facelift is with a fresh coat of paint.  It is amazing the difference a fresh coat of paint can have on walls and is also friendly on the wallet. When deciding what colour to decorate your walls with, it is a good idea to go for a neutral tone such as beige, grey, white, caramel, or cream. 

 

It may also be worth taking a critical, in-depth look at your home and deciding which furniture you should keep, and which you will put into storage for the duration of the viewings. You should aim to remove any furniture that makes rooms feel small and cramped so that buyers will be looking at an open space that they can mould into their own. 

 

Another aspect that cannot be ignored when it comes to freshening up your home is how the rooms smell. Pets, cooking, smoking, damp, and bins can all produce unpleasant odours which can negatively impact the speed of your sale. This is why you should take special care to ensure bins are emptied before viewings, as well as investing in some reed diffusers, scented sandals, room spray, or flowers to help your room smell clean. 

Make repairs

Another key part of preparing your property for home showing is home repairs. Home improvements can help to elevate the price of your home, as they show a well-cared for property.  Now is the time to turn your hand to any pesky unfinished DIY projects, broken light bulbs, or breakages that you have meant to fix months ago. 

 

If you are looking to secure the best price, then buyers will want to know that the property they are moving into is well-loved and cared for and is a property that they should want to buy. Every time a buyer notices a problem in the home that needs fixing, they will reduce their offer. 

Boost kerb appeal

If you are planning on selling a home, it is critical that you consider kerb appeal in the process. Kerb appeal is considered an important factor by more than 68% of buyers, according to a survey done by the Home Owners Alliance. 

 

Whilst it is an important factor, it does not mean you need to go full gardener’s world on your lawn. Simple changes such as planting flowers, cleaning the patio, cutting the grass, and repainting fences can all make the world of difference. 

Neutralise

One of the most important steps you can take to help increase your chances of selling quickly is to neutralise your home. Whilst this may sound like something a sci-fi villain would say before attempting to blow up the earth, it is not quite as scary as it sounds. Neutralising your home is the simple process of removing personal items from your home in order to give it a showroom feel. 

 

In order to make your rooms as neutral as possible, it is important to take the following steps: 

 

  • Family photos
  • Children’s artwork
  • Collectible items 
  • Trophies and certificates 
  • Holiday souvenirs 

 

By removing these items, you are giving buyers a blank canvas for their imaginations to run wild with. Instead of looking at someone else’s home, they are looking at their future home. They can imagine what art they would hang on the wall, and where they would put their photos and collectibles.       

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How do I make my house look good when selling?

When selling your property, it is important that you keep the home staging tips up throughout the entire process. This will keep your property looking sharp and neat and will keep a steady line of interested buyers through your door. 

 

The most important thing to do in order to make your house look good when selling is to make sure your property is clean. A clean and neat property is the key to not only selling your property quickly but also achieving the best price possible. Whilst it is not always possible to deep clean before every showing, you can always do quick tidy-ups beforehand, using storage space to your advantage to keep clutter out of sight. 

Which areas of my home can affect the asking price?

When it comes to staging your home for buyers, the area of the house that can affect the selling price the most may come as a bit of a surprise. According to data from Rightmove, kitchens and bathrooms are the rooms that will draw potential buyers in the most. 

 

In order to properly pull out the stops and draw buyers in, we recommend that you perform a thorough deep clean on your bathrooms before any potential viewers arrive. Make sure that any and all toiletries are stored away out of sight and that there is no evidence of mould or limescale. You should also make sure that you have eradicated any signs of dust and that you remember to keep the toilet lid shut! 

 

When it comes to wowing with your kitchen, you should make a start by tidying away all of your appliances (including the toaster) and ensuring that all of your washing up has been done and is stored away. Whilst it is by no means the most glamorous task in the world, deep cleaning your kitchen can provide very real results, so be sure to clean any windows and remove any personal belongings. 

Do I need to make major home improvements in order to add value to my house sale?

Whether or not you decide to make any major home repairs to your home before you put it on the market is completely up to you. Whilst it is the case that certain home renovations can further the value of your property, it is worth bearing in mind that this is not always the case. Home renovations can often be costly and can end up adding time to your sale and costing more than the improvement is worth. 

 

If you are looking to sell the property, then you should carefully weigh up whether or not your home requires any renovations, or if the money would be better off spent elsewhere. If you really believe a new kitchen or a bathroom remodel will benefit your property, then it is something that you should do some research into. However, often a deep clean, declutter, and home repairs are enough to do the job. 

What brings down the value of a house UK?

Now that we know how you can add value to your home, it is worth taking a look at the areas of your home that can devalue your property. Below are some of the biggest problems that could be having a negative effect on your sale time and price: 

First up we have one of the scariest garden nasties about: Japanese knotweed. This super-invasive weed can grow through tarmac and foundations and into your home, leaving a wake of structural damage and plummeting property prices in its path. Growing as fast as 10cm a day and roots stretching as far as 14 feet and can lie dormant for up to 20 years. 

 

Having Japanese Knotweed in your garden means that infested sites will often have planning permission denied and mortgage lenders will often refuse to lend. 

 

Due to the destructive nature of the weed, the legislation and laws surrounding it are very clear. If you allow Japanese Knotweed to grow outside of your property and into the wild you can face prosecution. It is expensive and notoriously difficult to remove, so if you suspect you have a case, it is best to call a professional to remove and assess the plant. 

Another factor that can decrease your property’s value is outdated and unfashionable furniture. If potential buyers go into a home with a ‘unique’ or outdated style, they may be turned off the property instantly. If you have a kitchen that looks like it was decorated in the 90s and hasn’t changed since, then a buyer may have to spend time and money to bring it into the 21st century. Whilst this may not be a dealbreaker for some, it is likely to chase many away. 

One of the more surprising factors that can have an effect on your property price is pets. According to house beautiful, you can get up to 5% taken off the asking price for your property if there is excessive evidence of pets living there. Your home can suffer from wear and tear as a result of a pet in the house, such as dirty paw prints on the walls, bite marks, and scratch marks. 

 

However, the biggest issue with pets is often the smell they bring with them. This can put the valuer off your property as well as any potential buyers. 

Sometimes the issues that can affect house prices are simply out of your control. If the area where your property is located has issues that potential buyers find unappealing, then you may not be left with a lot of options. Below are some area issues that you may find negatively impacting your house sale: 

 

Closure of facilities – If you are in an area where amenities, employment, or public services close down, then you may find your house price impacted as these are qualities that buyers will often prioritise when house hunting. 

 

Poor school ratings – If you are selling a family home, then it is highly likely that potential buyers will be interested in the ratings of the local schools. If you live in an area with poorly rated schools, then you may struggle to get the best sale price for your home. 

 

Noise Pollution – It is no secret that living near to motorways is a noisy business. However, this noise can drive your house value down as the excessive noise can put buyers off your home. 

 

Housing Surplus – Should you be the proud owner of a three-bedroom property, but a housing developer decides to build another 50 three-bedroom houses in the field next to you, you may face more competition when it comes to trying to sell. 

 

Buyer Demographics – Buyer demographics in your area also play a huge role in the value of your house. If you are located in a commuter town for working professionals but are trying to sell a four-bedroom house, you may be in the wrong area to achieve the price you want. 

 

Environmental Pollution – A recently emerging problem that some sellers are facing is the issue of environmental pollution near their homes. If your home is located close to a factory or a polluted area, you may end up losing value from your property. 

When it comes to getting the most value for your home, it is often the little things that can have the biggest effect. Over time, your property is bound to suffer from wear and tear, a missing tile here, or a crack in the foundation there, however, these issues can soon add up. This is why it is wise to tackle them when they crop up. else they can quickly lead to another issue, which will usually begin to get quite costly. 

 

Estate agents will often clock these issues which will have a knock-on effect on your asking price. Key issues to be wary of include: 

 

  • Damp subfloor
  • Termites
  • Exposed gaps between walls
  • Crumbling concrete
  • Leaking roof
  • Uneven floors
  • Ill-fitting doors and windows
  • Wall and ceiling cracks
  • Timber rot 
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Can you sell quickly through an estate agent?

Looking to secure a quick sale without hanging about on the open market? 

 

Here at The Property Selling company, we believe that selling a house should be three things: fast, effortless, and free.

 

We offer you a full online estate agent service, without the fees – because it’s our mission to change the way you sell houses. 

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete.

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free! 

 

If you are ready to sell your home in as little as 28 days, then get in touch today and fill out one of our fast, free, no-obligation forms for your house valuation today!

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Property Buying & Selling Guide: What’s The Difference Between Exchange And Completion?

What's The Difference Between Exchange And Completion?

Property Buying & Selling Guide To Conveyancing

Tom Condon
Tom Condon ★ Digital Content Writer

Table of Contents

What's The Difference Between Exchange And Completion?

It doesn’t matter if you are buying or selling a property through DIY conveyancing or the usual route, using an estate agent or a cash buyer; you will come across the exchange and completion process. 

 

Exchange is when it becomes legally binding, but you may ask yourself which came first, the chicken or the egg. 

Well, the exchange came first. 

 

The exchange of contracts shows a seller that the buyer is committed as they pay a deposit and begin to get down the gritty world of solicitors. 

 

Find out below as we delve into all things exchange and completion and what it means for buyers and sellers.

What Is An Exchange Of Contracts?

The exchange of contracts is legally binding between buying and selling parties under English law. This process is usually carried out by solicitors and conveyancers trained in property transactions.

 

The exchange of contracts can only occur after a particular set of criteria has been met, including carrying out necessary searches and agreement to contract terms. 

 

The process is carried out by solicitors and conveyancers who will read out contracts over the phone in a recorded conversation to ensure the arrangements are the same. 

 

The contracts will then be posted to the other solicitors, and once the warranty has been exchanged, the homeowner and potential buyer are now legally bound to carry out the transaction.

Why Is It Necessary To Exchange Contracts?

It is necessary to exchange contracts to ensure the process becomes legally binding.

 

If the buyer does not complete it within two weeks, the seller can rescind their contract, and the buyer will forfeit their deposit. 

 

The seller will then be able to resell their property to another buyer and could even pursue you for losses incurred if they do not reach the same sale price.

When Do You Need To Exchange Contracts?

As the buyer, you can exchange the contracts if you are committed to purchasing the property after you have made your offer and all necessary documents have been obtained.

 

You should only exchange contracts once:

 

  • The offer has been agreed upon.
  • Relevant Law Society forms (TA6 & TA10) have been inspected.
  • Surveys have been carried out.
  • Your mortgage lender has carried out a house valuation.
  • Your solicitor has carried out searches.
  • The EPC has been checked.
  • You have enough funding in place for the house deposit.
  • You have a completion date in mind, and it has been agreed upon.
  • You have put building insurance in place.
  • You have read through the contract, asked any relevant questions, and signed it once it is complete.

When Do You Need To Exchange Contracts?

You will not need to exchange contracts; your solicitor will do this. Usually, this is done over a phone call, ensuring the arrangements are identical, and then the contracts will be posted. However, it may be done in person, although this is rare.

What Is Completion On A House?

The completion process occurs on a date predetermined during the exchange of contracts. It is the last step in the property transfer process, and it is the day on which the ownership is legally transferred from seller to buyer.

 

The buyer will get the keys to the property, and the seller must move out of the property. It is also the day the money is transferred from the buyer to the seller.

What Should You Do Before You Exchange Contracts?

Although similar, the process will differ slightly depending on if you are a buyer or seller. Property ownership can only be transferred once contracts are exchanged, so checking that any paperwork has been completed is vital.

Buyer - Before Exchange Of Contracts

Because the exchange of contracts is a legally binding process, you should ensure that everything is in order before signing anything:

Your solicitor or conveyancer should do all parts of the conveyancing process, but you should always communicate consistently with them to ensure a smooth transaction.

 

You must ensure that your solicitor has completed any searches, which are the enquiries with local authorities for more information on the property.

 

You will need to agree with your solicitor on a completion date that suits you before you exchange the contracts, as the solicitor will agree with the seller’s solicitor on a completion date that will be set in stone. 

 

We also recommend that you read over the contract with your solicitor present and ask any questions about it if you are unsure, as this will ensure you know the process better, and you won’t be able to read it once the exchange has been completed. 

 

This also applies to ensuring you know what’s included in the property offers, for example, any fixtures, fittings and if you need to pay for a holding or contract deposit in case the seller requires one — which means having the funds available (£500 to £1000). 

 

If the seller attempts to renegotiate the purchase price, you should seek advice from your solicitor, who will help you negotiate them back up.

You will need to ensure that you have your mortgage in principle, which is a written estimate from a mortgage lender that indicates how much money you can borrow.

 

As well as ensuring that you have the correct funds for your mortgage deposit.

You must ensure you are covered if the seller pulls out before the exchange, as you will have no legal right to recover any costs from them. 

 

Getting indemnity insurance coverage will ensure you can recover any wasted costs, but your solicitor will be able to provide you with more insurance. 

 

You will also need to organise building insurance and ensure it is valid from the exchange date.

Seller - Before Exchange Of Contracts

As the exchange of contracts is a legally binding contract, you will need to ensure that all of your information is in order before you sign the contract:

You should ensure that your solicitor has your signed contract and signed transfer of title document and that the deposit has at least been lodged with the buyer’s solicitor and is ready for transfer.

 

Your conveyancer should also have an estimate of any mortgage redemption costs, especially if there are any early redemption charges you may have to pay. 

 

You will also need to ensure you have responded to all enquiries and provided all necessary documentation:

 

  • Warranties.
  • Guarantees. 
  • Certification of Works.
  • Signed Contract.
  • Signed Transfer of Title Document. 

 

You will also need to confirm a completion date with your solicitor.

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What Happens After The Contacts Are Exchanged?

Once the contracts have been signed and exchanged, the buyer is legally bound to purchase the property. The solicitors will need to ensure that the transfer of ownership has been registered with the land registry. 

 

If the property is tenanted, the buyer must tell the freeholder that they are the new owner. 

 

Usually, the period between contracts exchanged and completion will be when the buyer confirms removals, packs their belongings, plans the move, and contacts utilities and services to inform them of the property transfer or end of service. 

 

The buyer’s solicitor will ensure that the mortgage lender is on track to transfer the funds on completion and draw up a completion statement.

The property seller will also need to confirm removals and pack, notify utility companies and ensure everything agreed to include in the purchase is left in place, set up mail redirection and leave a set of keys with the estate agent.

 

The seller’s solicitor will confirm the redemption amount with the mortgage lender and draw a completion statement.

Is It Possible To Exchange And Complete It On The Same Day?

It is possible to exchange and complete on the same day, although this differs from the path many homeowners choose. 

 

The time difference between the two allows for necessary arrangements like property removals and ordering mortgage advances.

How Long is Between Exchange And The Completion Date?

The time between exchange and completion will vary depending on the speed of sale needed but generally will take 7 to 28 days, although it typically takes around five working days. 

 

The exchange and completion period can be affected by various factors, including the length of a property chain or if the property is being bought for cash. Most cash buyers will speed up the process, making the completion day closer to the exchange. 

 

It will also depend on the speed of your solicitors and their service.

 

If the buyer buys a new build property, there may be a much longer delay as the property may have yet to be built at the point you exchange. 

If the seller has yet to secure an onward purchase, they can agree with a buyer to set a delayed completion date to allow them to find accommodation. 

 

However, if the property buyer has a mortgage offer, they should be wary of the offer expiring as they are only valid for three to six months.

Can You Get Solicitor Service For Free?

Yes you can! Here at The Property Selling Company we believe that house sales should be fast, effortless and free. Which means that we will cover all the fees associated with selling a house for you, even including any conveyancing fees!

 

We will work with you every step of the way to ensure that everything is looked after, so you don’t have to worry about it. The days of expensive solicitor fees are over, our team of property experts are only a phone call away.

 

We will market your property on popular portal portals such as Zoopla and Rightmove, organise viewings and negotiate better deals…for free! 

 

Want to get started? Click the button below for more information and no-obligation cash offer for your property.

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What Does Under Offer On A House Mean?

under offer

What Does Under Offer On A House Mean?

Want to know more? Find out more below as we delve into what ‘under offer’ means and how it relates to you.

Tom Condon
Tom Condon ★ Digital Content Writer

Table of Contents

What Does It Mean When A House Is Under Offer?

There are two general situations in which under offer can relate to you; you are a property seller or a property buyer. 

 

Say you are a property seller; you can put your property under offer to allow time to consider any bids you have already received. If you are a property buyer and put in an offer on a property, the seller may put the property under. 

 

This can be a risky move as the property seller can still accept other offers, and you may be at risk of being gazumped.

What Does Under Offer Mean?

When a property is under offer, a reasonable bid has been presented to the seller, and the seller is considering it. 

 

Usually, the offer is below the asking price, or the seller has received multiple offers and is deciding between interested parties. 

 

If a property is under, the buyer is responsible for pushing their agenda forward and moving the process along, whether trying to get it Sold STC for their offer to be accepted or going to exchange and completion. 

 

If the potential buyer does not push their agenda forward, they risk being gazumped by a better offer.

How Long Can A House Be Under Offer?

There is no minimum or maximum period for how long a house can be under offer, and the property can remain under for as long as both parties continue to work through the contract and exchange process. 

 

However, the longer a property remains under offer, the higher the risk of another buyer coming along or the existing buyer pulling out.

Do All Properties Go Under Offer?

In most cases, the property won’t go under offer as the offer is suitable for the seller. The property seller may accept the offer quickly, which will unlikely be labelled as under. It will, however, stay on the market labelled as SSTC until the contracts are exchanged.

What’s The Difference Between Under Offer And Sold STC?

Sold Subject to Contract, or SSTC, is different from a house being under offer, as Sold STC is when an offer is accepted, and the conveyancing process can begin. 

 

When a house is under, the property seller is simply considering the offer and has yet to make a final decision — nothing about a home being under offer is legally binding.

 

Property sales can only fall through at any point once contracts are exchanged. 

 

Under offer is used by estate agents to use as a marketing exercise when an offer has been accepted but before any contracts have been exchanged as the property sale has yet to be legally formalised. 

 

This can create a sense of urgency or increase demand for more offers as potential buyers try to avoid the fear of missing out. 

 

Sold Subject To Contract is the next step in the house selling process when a more formal agreement is made between the buyer, estate agent and seller, where solicitors are instructed, and conveyancing begins.

 

SSTC and house under mean that the estate agent or seller will take the property off the market entirely; this only happens when the exchange of contracts and completion dates have been set.

 

What Happens At Offer Accepted?

Once the offer is accepted, there is no set time for completion, and it will ultimately depend on the skill and service of the conveyancers that have been instructed. The process is also legally binding once the exchange occurs.

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How Can You Make An Offer A Property That Sellers Can’t Refuse?

If you want to avoid the seller putting the property ‘under offer’ then you need to make a compelling offer that will charm them into accepting your offer as soon as possible. You can do this by:

When you find a property that you like, it’s essential that you understand what the seller wants. They could be looking for a retirement income, looking for a quick sale or want a certain amount of money. You should be able to liaise with your estate agent to find out the motivations for the seller, and this can be used to structure an offer that meets their needs.

One of the most important parts of putting in an offer on a property is to offer a fair price, you don’t want to overpay and if you want to avoid being put under offer, then you will also want to avoid going too far below the asking price. 

 

You should look at comparable properties in the local area, current market conditions and the condition of the property to determine a fair price for the home you are interested in.

Providing proof of funds can come in the form of bank statements or pre-approval letters from a mortgage lender, which can help boost the confidence of the seller in your financial situation.

Most sellers will have their own specific needs or requests when it comes to selling their property so being flexible is crucial as occasionally these won’t meet your needs. By adapting your offer to meet their requirements you can make your offer more appealing. 

 

An example of this would be that the seller wants to sell their house as soon as possible, for which you could offer to close in a shorter time frame.

By writing a personalised letter, you can let them know why you  are interested in their property and how you plan to use it in the future. This can be a great way to connect with the seller on an emotional level and make your offer stand out from the crowd.

Can You Put In An Offer On A House That’s Under Offer?

If a property is already under offer, then any other potential buyer can still view a property or still make an offer on a property that’s under.

 

The property seller can accept other offers until contracts are exchanged, in which case the sale will have been finalised. 

 

There are many reasons why a property seller may take their time to consider an offer rather than accepting it quickly. It could be that the potential buyer has made an offer below the asking price, or they could be part of a long property chain. 

 

But, leaving a house under offer for too long may damage the home-seller-homebuyer relationship and could risk you being gazundered (where the buyer lowers their offer at the very last minute).

What Is Gazumping?

If a property is under offer, and the seller is considering a bid, they are still open to accepting other submissions and are more likely to accept an offer higher than the original offer. — this is known as gazumping.

 

It can be seen as an unfair mechanism to a potential buyer but is a standard practice amongst many in the housing market as some sellers will accept higher offers for more profit.

How Can You Avoid A Relationship Breakdown?

If you are a buyer, you can ask the seller to take the property off the market, but they have no obligation to do so and can still entertain other potential buyers. 

 

It is more strategic for the seller to leave the property on the market whilst it’s under offer, as another buyer may come with a better offer. One way of getting around this is to offer the seller something in return — like paying for the surveys to be completed. 

 

Alternatively, if you want to buy or sell a house, you can do it through us! We will handle all the negotiations for you, creating a hassle-free service. 

 

Here at The Property Selling Company, we specialise in fast, effortless and free sales because we believe buying or selling a home shouldn’t be complicated. 

 

We will work alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there even after the process is complete. 

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals, all for free!

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