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Selling Process

Selling Process
Firstly, if you are selling, you will require a valuation. At Choice Housing we can offer you a free, no obligation factual and accurate valuation of the current market value of your property. Our experienced property valuers will provide you with a valuation based not only on there in depth knowledge of the area but also utilising our extensive database of recently sold properties.

If you instruct us to sell your property at the same time of valuation, our valuers will measure and take photographs of your house at the same time. (This is to save time and rearranging another appointment) They will take high quality digital photographs and work with you to ensure that the main selling features of your house are reflected. They may also take 360° virtual tours and produce floor plans if required and always take notes on the particulars of the property. If you can’t decide on the same day, once you have decided to instruct us to sell your property one of our photographers will arrange to visit your house at a time to suit you.
   

MARETING YOUR PROPERTY
At Choice Housing we believe in providing our clients property with maximum exposure, your property details will be mailed to prospective buyers within 48 hours of receiving your instructions. Choice Housing starts working direct from the convenience of your own home. Once instructed, your property details are completed and flashed straight onto the market via our website we will also market on variety of other leading websites.

In addition to advertising we ensure that we use the latest technology at our disposal to its full potential. We enter your property details onto our office systems and search our buyers' register. If your property matches the requirements of buyers we will inform them as soon as possible that your property is on the market using a range of methods including email alerts and of course we'll call them as well.

Our aim is to give your property the maximum exposure required to make a sale. It can take as little as 48 hours from valuation to your property being marketed and viewings being arranged. So make sure you are prepared.
 

VIEWINGS
It is vitally important that your property looks as good as it possibly can for all viewings. Many buyers are looking to buy into a lifestyle or just want a property to move into with nothing to do except move the furniture in. We can give you helpful advice on making your property presentable for sale and our Buying and Selling Guides also includes helpful tips.

It's always important not to rush and let them take their time; giving them the opportunity to ask questions etc.

The more flexible you are on viewing times this will increase the opportunities you have to sell your property. If you are not at your property we will always consult with you to make sure that you have given us permission to show prospective buyers around your property in your absence.

 

OFFER
Once we have received an offer from a potential buyer we will call you and inform you in writing. We can advise you on whether to accept or decline the offer, however ultimately the decision is yours. When you have agreed to sell at the offered price you will need to appoint a solicitor (or we can recommend you one) to undertake all the legal work involved in selling your house. However, until the contracts have been signed you are under no legal obligation to sell the house and similarly the buyer is under no obligation to buy it.

 

CONVEYANCING
You will need to find a solicitor or a licensed conveyancer to provide all the legal services required to sell your house. We can recommend a solicitor to you, who are efficient and knowledgeable of the local area. As soon as the offer has been accepted ensure that exchange and completion dates are agreed at this stage. In addition you will have to let your solicitor know what is and isn't included in the sale of the house.

 

DRAFT CONTRACT
This is drawn up by your solicitor and sent to your buyer's solicitor. Once the buyer is happy that all queries regarding the property have been answered and the results of the Land Registry Search and Local Authority Search are OK you are ready to move to the next stage.

In addition to support the sale both you and your solicitor will have to provide the following types of information such as;

Title deeds
Copy of lease holding
Fixtures and fittings list
Completion of seller's questionnaire
Details of any planning consent
Copies of any guarantees on the property or work completed
Copy of building regulations
   

EXCHANGE
The sales contract is signed by both you and the buyer and the deposit is transferred or paid by their solicitor to your solicitor. The date is then set for completion or some times this is done simultaneously at the same time of exchange if both parties agree to this.

   

COMPLETION
Once the exchange has taken place then completion generally happens a few days or a couple of weeks later. This is dependent on your circumstances and any other parties involved in the house buying chain. On the date set any monies owed are transferred from the buyer's solicitor’s account to your solicitor's account. Once the monies have been received you will have to vacate the property and move out, as the buyers then legally own the house. The sale will complete and the purchaser will be able to collect the keys from the agent. This usually happens around midday on the day of completion.

   
Common reasons for a sale to fall through are:

ADVERSE SURVEY
The mortgage surveyor may value the property lower than the asking price, or find structural problems. A building society may not lend on sub-standard property, or you may not be able to insure the building. If you can’t get building insurance on a property you will not be able to mortgage it. For non-structural repairs the lender may require further reports and these can cover anything from timber and damp, electrical or roofing, for example. If there is a cost for these repairs  the   lenders may  hold

retention, i.e reduce the amount of money they are prepared to lend to cover the cost of the repairs. If the vendor and purchaser cannot negotiate a solution to these problems then the sale may fall though.

Choice Housing staff are trained ‘negotiators’ and it is our job to negotiate between vendor and purchaser to bring the transaction to a satisfactory conclusion to all parties. If your lender requires further reports, we can arrange them for you at Choice Housing. We are very experienced in dealing with survey reports, obtaining quotes and estimates that are acceptable to the surveyor.
 

GAZUMPING
This is when the vendor accepts a higher price from an alternative prospective purchaser. We at Choice Housing work for the vendor and we have a duty to put forward all offers to the vendor.

 

LACK OF FUNDS

A purchaser may not be able to raise all the money needed to buy the Property

 

CHANGE IN CIRCUMSTANCES
A simple change of mind is one of the biggest reasons for a sale to fall through. On the other hand, there may be a reason - the new job offer is withdrawn, someone in the chain decides to divorce instead of move, your purchaser wins the lottery and wants a bigger property.

 
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