Seller FAQs
Do you do free valuations?
Yes, you can obtain a free online valuation through our website but an inspection and valuation with specific advice is also free and will provide you with an accurate price estimate.
I want to sell a property. What do I do first?
First you need to receive a valuation to find out how much your home is worth. When the agent values your home, ask them about the services they offer, the current state of the local market, and the purchase price you can hope to achieve. This will enable you to decide how this sits with your priorities and timescales.
How long is your contract?
An agent’s contract length will need to reflect the market in which the property is being sold. Most agents will negotiate a suitable length contract with you. Try to avoid unduly long contract periods of more than 5 months.
How does the auction work?
The buyer is bound by a contract at the fall of the hammer. As the seller, you will need to provide as much information as possible to inform the buyer and enable them to make a decision. The property will be extensively advertised, and the sale will take place in a public domain. There will be a listing fee to the auctioneer plus commission on the sale.
What are the costs to selling my property?
There are three main costs involved in selling a property:
- Estate Agent Fees: Estate Agent Fees will either be a percentage of the purchase price, or a fixed fee. When estate agents visit to value your home, make sure they outline their fees so you can take these into account.
- Energy Performance Certificate (EPC): You are legally required to provide an EPC when you market your property for sale. This outlines the energy efficiency rating of your property. An EPC lasts for 10 years unless substantial alterations have been made to the property, for instance a new gas boiler. If your EPC is getting close to its expiration date, your buyer’s solicitors may request a new one. The energy rating runs from A – G and there are no current rules regarding the minimum rating that is acceptable to sell. However, certain mortgage lenders are requiring low EPC ratings to be increased before a mortgage offer will be released. Within the certificate are recommended improvements which, if undertaken, show the potential score your property can achieve. All properties with an EPC are logged on the national EPC register. This can be accessed by anyone online as it is a public document. The EPC graph must be displayed on all marketing material for the property. The only person who can carry out an EPC is a government approved energy assessor. If you are selling to an investor, the property must have an EPC rating of A – E; this is so that a tenant can occupy the property.
Fisks can provide you with a quote.
- Conveyancing: ‘Conveyancing’ means the legal transfer of your property to the buyer, and you will need to employ a solicitor to make this happen. Prices will vary depending on your circumstances. Fisks can introduce you to a solicitor and offer a no-sale-no-fee conveyancing service with a guaranteed fixed price to keep everything easy. Contact your local branch to receive an accurate quote for how much this will cost.
When will my house be on the internet?
The internet portals are part of the wider marketing of your property. Once you have signed a contract with the agent, you should expect your property to be made available on the portals on the same day that the agent completes the preparation of the marketing material, including an EPC, taking photographs, creating a floor plan and putting together a marketing brochure etc.
Apart from the internet how else would you market my property?
Agents will have an extensive database of prospective buyers to be contacted. In addition, the office window should not be ignored together with newspaper advertising, where applicable. You should discuss with your agent their marketing packages and what is included or excluded from their commission.
What is the benefit of using a traditional local high street agent as opposed to an online agent?
A high street agent can offer everything that an online agent can offer coupled with increased customer service as you will have contact with them in their office. The agent will also have much better local knowledge when dealing with an enquiry than an online call centre. As well as the better service, the agents will also have a mailing list to contact as well as creating open homes and bespoke adverts for your property. Once sold the property will be managed through to completion by a staff member who will contact you regularly and be available when you visit the office.
What is included in my sale fee?
Each company will have their own marketing and service packages. Some will offer just internet marketing whilst others will include other forms of marketing along with sales progression. Ask your agent to inform you what is included in their fee.
As part of your service will you offer help for me on my onward purchase?
This is an important question that is not asked enough. Agreeing an offer often takes a lot of negotiation and this is not limited to the chain attached to your buyer. If you offer on a property, that price negotiation can also be handled by your agent. The relationship with an estate agent does not end with selling your home, it also extends to negotiating and helping you purchase your new home.
Do I need to conduct viewings?
Your estate agent should accompany all viewings, but you may decide that you would like to be present. It is really up to you.
If I give you a key to my home will you accompany buyers to viewings?
Yes, if a property is empty or the owner does not want to be present whilst a viewing takes place, a key can be left with the agent.
Will there be more viewings once I have accepted an offer?
This partly depends on the conditions of the offer. Remember, neither the buyer or the seller is bound to the purchase or sale until the contracts are signed and exchanged, so it is worth keeping your options open.
I want to sell my house quickly – can you help?
The speed at which you sell is related to the price at which you are on the market. A good agent can work with a timeframe that suits you.
How long will it take to complete my sale?
Every sale is different. Both your position and the buyer’s position need to be taken into account together with the number of sales in your chain before this question can be answered accurately. If your home has been realistically valued, you should expect to receive offers relatively quickly. Then, assuming your buyer needs to apply for their mortgage, the exchange of contracts and completion usually takes about 12 weeks.
Do I need an EPC?
In England, all sellers are required to purchase an EPC for a property before they sell it. Estate agents must display the EPC rating whenever they market the property.
An EPC lasts for 10 years unless substantial alterations have been made to the property, for instance a new gas boiler. If your EPC is getting close to its expiration date, your buyer’s solicitors may request a new one. The energy rating runs from A – G and there are no current rules regarding the minimum rating that is acceptable to sell. However, certain mortgage lenders are requiring low EPC ratings to be increased before a mortgage offer will be released. Within the certificate are recommended improvements which, if undertaken, show the potential score your property can achieve.
All properties with an EPC are logged on the national EPC register. This can be accessed by anyone online as it is a public document. The EPC graph must be displayed on all marketing material for the property. The only person who can carry out an EPC is a government approved energy assessor.
If you are selling to an investor, the property must have an EPC rating of A – E; this is so that a tenant can occupy the property.
What is conveyancing?
‘Conveyancing’ is everything that needs to happen to legally transfer your home to the buyer.
Where are my title deeds?
For most properties, the title is registered with the Land Registry and therefore you may not need the physical documents referred to as title deeds. Your solicitor will be able to obtain all your title information from the Land Registry in order for your sale to proceed. In some cases, if your property has never been registered, the original deeds will have to be traced; they may be with you or may have been lodged with your bank or lender
Do I have to pay Stamp Duty Land Tax?
No. The buyer is responsible for paying Stamp Duty Land Tax.
Will my property be surveyed?
In England you do not need to arrange a survey to sell, but it is likely that the buyer will, and so a surveyor will arrange an appointment to visit you home. The five key things a surveyor will be looking for are problems with utilities, damp, cracking, problems with the roof and timber defects. In addition, your buyer’s mortgage lender will organise a mortgage valuation to confirm that the property is worth the money being leant.
What are searches?
As part of the conveyancing process, your solicitor will search public registers for information about the property you are trying to buy. These searches will include the Land Registry showing your title and Local Authority for information in relation to your home. They will be checking for planning history, and any potential developments around roads, drainage and mining near the property.
When do I sign the contract?
Once the sale has been agreed, your solicitor will draft a contract. The seller’s solicitor will confirm the details of the property and perform searches. At the same time, the buyer’s mortgage lender will conduct a mortgage valuation and send a mortgage offer to the buyer. When all of this is complete, you will be ready to sign the contract and agree the completion date.
When is the buyer or seller bound to the sale or purchase?
The seller or the buyer can pull out of the sale at any time and for any reason until the point that both solicitors have received signed contracts from both parties and exchanged. The contract will include the agreed completion date.
How is a completion date chosen?
You cannot exchange contracts without a completion date. All parties’ solicitors will have to agree the completion date before an exchange can take place. Once exchanged, any mortgage monies can then be requested to be paid upon completion.
What do I have to leave in the property?
You are not required to leave any furniture or furnishings in the property, but you may agree to include some as part of the negotiations of the sale. Your solicitor will require you to fill in a fixture and fittings form which outlines to the buyer everything that is included in the sale.
When do I have to move out?
The contract will specify the completion day, and usually the buyer will be asked to collect the keys to their new home from the estate agent. In most cases the seller is asked to vacate the property by 12pm.
Do I have to pay Capital Gains Tax?
In most cases you are only required to pay Capital Gains Tax if the property is not your main home.