We have set out below what we believe to be some helpful advice and key steps to selling your house:-
We have set out below what we believe to be some helpful advice and key steps to selling your house:-
STEP 1 – Get a FREE Market Appraisal and FREE Mortgage Advice
Elder + Twells would appreciate the opportunity of providing you with a free market appraisal of your property. Simply give us a call on (01773) 53 53 53 (Heanor Office) or (0115) 932 5523 (Ilkeston Office) to arrange a convenient appointment.
We would also advise you to take some further free advice from our Financial Advisor. Our Financial Services arm has access to over 100 different Banks and Building Societies all of whom offer different products and rates. Buying a home is one of the largest financial commitments you are ever likely to undertake and it is therefore essential that you get this right. Seeing our Adviser at an early stage will enable you to find out how much you can borrow based on your household income and what the re-payments are likely to be.
STEP 2 – "Taking The Plunge" – Put your property on the market
The next step is to place your property on the open market and wait for the viewers to arrive! We would recommend that you do it this way, rather than setting your heart on another property and then trying to sell yours. In our experience this only leads to considerable heartache as there is always a tendency for the property you wish to buy having sold before you manage to secure a purchaser for your own. It is far easier to place your own property on the market whilst you continue to have a good look around and ideally make a list of a few possibilities. When you then receive an acceptable offer on your own property, you are in a strong position (having sold with your mortgage in place) to make a positive bid on your preferred choice of property.
STEP 3 – Form Filling
Once the above has been agreed you will need a further meeting with the Financial adviser to complete all the relevant mortgage forms for your chosen Bank or Building Society whilst Elder + Twells instruct your Solicitors to handle the Conveyance.
STEP 4– Have a Private Survey and some Peace of Mind!
Once you have found the property of your dreams it is advisable that you arrange to have a survey carried out on your own behalf. It is a common misconception that the survey carried out for mortgage purposes is for your own benefit. This is positively not the case as this survey is simply for the benefit of the Bank or Building Society with whom you are wishing to borrow money to purchase your home. They appoint a Surveyor to look at it on their behalf to inform them as to whether or not they should loan you the amount of money required in order to buy the property concerned. It is the most basic form of Survey undertaken. Elder + Twells therefore strongly advise that when you are buying your home, spending tens of thousands of pounds it is very much in your own interest to make sure that this property is structurally sound, free from defect and worth the money you are proposing to pay. Our Survey Department would be only too pleased to talk you through the process and provide you with the options available. For a small sum of money, we can give you the peace of mind of knowing that your home is a good investment and not your worst nightmare. For further information, please contact us on (01773) 53 53 53.
STEP 5 – Meet your Solicitor
You will need to make an appointment to meet your Solicitor, talk through any queries and questions you may have and pay for your "Search Fees" to be undertaken. These include Coal Mining Search, Local Authority Search and Severn Trent Water Search which all Lending Institutions require prior to lending you the money needed in order to secure your home. On the whole, it is advisable that these are applied for at an early stage as they generally take two to three weeks to arrive back with your Solicitor. If these are left until the last minute, you are not only faced with the agony of a further time delay but you may also be jeopardising your purchase and sale by holding matters up.
STEP 6 - Signing the contract
Once the Solicitors have received the searches, the contractual documentation and your offer of mortgage from your Bank or Building Society they will arrange a convenient appointment for you to visit the Solicitors offices in order to discuss the contract an put your signature on it. Once the remaining details have been sorted out amongst the Solicitors throughout the chain, contracts will be exchanged upon which point the transaction becomes legally binding. Upon completion, the monies will be transferred across and you arrange for collection of the keys to your new home.
Anything else you'd like to know? Give us a call for a free, no obligation advice!