The Lux Guide To Selling
Welcome to the Lux Guide to Selling. This is a detailed step by step guide to selling your property and includes our top tips for selling to get moving faster! If you instruct with us we’ll be able to guide you through each step of the sale.
Valuation and Maximising the property value
The first step when selling is to organise a valuation of your property. A valuation will provide you with a price or price range of what your property is worth. To ensure an accurate and realistic valuation of your property, we’ll conduct thorough research of the current market and comparable properties which have sold as well as a full review of your property taking into consideration any upgraded features and the condition. During the valuation we’ll talk you through the sales process and address all queries and concerns you may have.
We’ll advise on very small details that can be done inside and outside of the property to maximise the property value and achieve the best possible price. This could be as simple as adding a lick of interior paint or increasing the property’s kerb appeal by moving the bins out of view however these small details could make a huge difference on the value and saleability. Our experts have a keen eye for detail and will be able to advise on what works.
Useful tip: Keep in mind that a good valuation isn’t necessarily the highest price. Agents will often provide an inflated price in order to win an instruction which is not only purposefully deceitful but will inevitably end up wasting your precious time and could result in your property sitting on the market for a long time going stale.
For most of us selling a property is the biggest transaction in our lives which is why choosing an agent who cares about your move and has a professional and proactive approach to selling your property will make the process smooth and stress free. There are many factors to consider when choosing the right agent for you including the quality of the agent’s marketing, the quality of the agent’s website, the knowledge and confidence displayed by the valuer. Did you engage well with the valuer and will they be able to provide the type of service your looking for? Remember you will be working with them for a minimum of 2 months (the average sale to completion time takes around 4 months) and dealing with them on a daily basis so it’s important to strike up a good relationship right away.
Once you’ve instructed an agent you will be asked to sign a contract which gives the permission to sell the property and provide your Identification for AML checks. Our sales contracts are tailored to suit your needs so that you have the flexibility to choose the contract that’s right for you and its only one page long so you wont have to read through hours of paperwork.
Useful Tip: We provide a sellers questionnaire at the point of contract signing so that we have all the relevant knowledge and confidence when speaking to buyers about your property including details like service charge, lease length, and parking etc.
Energy Performance Certificate (EPC)
It’s a legal requirement to have an EPC on your property in order to market and sell so its important to have this in order. Most newer properties or new builds already have an EPC in place however a lot of properties don’t get around to getting one until it’s time to sell or it could be that yours is out of date. (EPC’s have a 10 year timeframe) Don’t worry we’ll carry out the relevant checks to make sure you’ve got one or we’ll arrange to have one done on your behalf.
Once all of the relevant paperwork has been done, the marketing process begins. It’s important to make a good first impression to potential buyers so a professional marketing approach is key to achieving a successful sale. Our marketing package presents your property in the best possible light with high quality professional photos, clear floorplans, a distinctive Lux Homes sales board affixed at the property, informative and vibrant sales particulars, and a communicative property description outlining the key selling points of your home. Of course you will have your own ideas on the best selling points of your property so we will work with you to highlight these also. We’ll send you the final product before going live with the property online to make sure your 100% happy.
Another important aspect to getting your property sold in modern times is making sure it’s standing out online with the right exposure. We produce stunning adverts and advertise on the main online property platforms; Rightmove, Zoopla and OnTheMarket and our own informative website to make a great first impression on potential buyers and attract the right viewers.
Accompanied Viewings and Feedback
The thought of showing potential buyers around your home can be a daunting task so we never expect you to do this yourself. We offer accompanied viewings to all of our clients as standard. Besides, we’re the professionals, we believe the job should be down to us so you can sit back and relax! Our team are naturally warm and engaging which means buyers feel more comfortable with them and more likely to put in an offer. And we’re available 8am-8pm to accommodate late viewings and early meetings. We’ll advise you at the start on the best viewing times and days or we may recommend an open house to maximise interest.
We’ll keep you up to date with feedback from viewings and regular updates on how the property is performing online with stats and figures.
Useful tip: We’ll always give you enough notice to prepare for viewings. Its best to always have a quick tidy up and de-clutter before viewings. If present when the viewing takes place, we advise to let the buyer wander freely to avoid them feeling nervous and rushed. If there are any questions were unable to answer like ‘What is it like living here?’ or ‘What are the neighbours like?’ we’ll make the buyer aware your available to answer any questions.
Offers Stage and negotiation
All offers will be forwarded to you within 24 hours of receipt. We’ll deal with all negotiations between you the seller and the prospective buyer. You may also have more than one offer at this stage but we’ll have prequalified all of the buyers and will be able to advise on the one with the strongest position to help you make an informed decision. The aim of this step is to choose the most reliable buyer to see the sale through.
Useful Tip: A strong proceedable buyer will have a complete chain or be in a chain free position and have confirmed their financial position by providing proof of funds such as an agreement in principal, proof of deposit or proof of cash. It’s also important that a prospective buyers timescales align with yours before agreeing a sale.
Accepting the right offer / offer accepted
Congratulations at this stage you’ve agreed a sale with a purchaser. Almost there! – Once you’ve accepted an agreeable offer with the purchaser you’ll need to instruct a solicitor to convey all of the legal stuff. We can offer recommendations of excellent solicitors that we regularly work with or you can choose one at your own leisure. We’ll send out the memorandums of sale so that the solicitors can make contact.
Useful Tip: Having a good solicitor on board for the next step could make a huge difference in how efficiently the sale goes through. We have strong working relationships with our recommended solicitors which affords us the luxury to have things actioned efficiently.
Buyers that are purchasing with a mortgage will require a survey to be carried out on behalf of the lender. There are three types of surveys; mortgage survey, home buyer or full building. A buyer can opt for all three but generally will only require one or two of these options. Once the survey has been completed the surveyor will issue a report and providing the lender agrees with the property valuation the buyer will receive the mortgage offer. A buyer will only be able to proceed as long as the mortgage offer is favourable.
Useful tip: New build properties come with a NHBC (New homes building certificate) which provides a 10 year build mark warranty and generally negates the need for a full building survey.
Conveyancing and Sales Progression
During the conveyancing process the buyer’s solicitor will raise enquires and carry out the necessary searches. At this time we will work alongside the solicitors to progress the sale which will involve liaising with them frequently to ensure all parties are performing as required. We will also speak to other buyers, vendors and estate agents involved in the chain and keep you informed and updated regularly. All parties will be working towards an exchange and completion date.
Exchange of contracts
Once the buyer’s solicitor is satisfied with all replies to queries and received all of the searches back and the mortgage offer both solicitors will proceed to exchange of contracts whereby the purchaser will lodge a deposit of 10% of the purchase price with their solicitor at which point the sale is legally binding.
At this stage a completion date is set by which you will need to move out of the property and there is only one final step in the process.
Completion day has finally arrived, the buyer’s solicitor will transfer the remaining funds to your solicitor and you will have successfully sold your property. The solicitor will call to confirm this and we will be allowed to release keys to the new owner, who will normally collect from our office.
By the end of the process we’ve formed a close bond with our clients and our feedback is testament to that. Since opening there has not been any negative feedback online and we aim to keep it that way. Providing a luxury service is the main aim of our business which is why we are willing to go the extra mile and above and beyond the call of duty to make our customers happy.