The first thing you should do, before planning to sell your home, is to have a clear plan of what you wish to achieve and how you are going to achieve it. By that I mean that if you are selling your home to move to another one, you must research how much you will have to pay to purchase the new house and the associated costs of moving, removal companies, new carpets, decoration etc.
Remember to factor in the costs of Solicitors for Buying and Selling as well as any Stamp Duty or other Property Taxes like capital gains you may be required to pay. Your Estate Agent can recommend a good firm that they have had good experiences in working with to obtain quotes and advice.
Also, there are costs involved in selling your home. The old maxim, that you get what you pay for, means that the cheapest agents won’t necessarily get you the best deal and certainly not give you the best service. You should consider the local knowledge and expertise a local agent can add to the value of your home.
In Scotland, the seller is required to also provide a Home Report, or Single Survey that the buyer can rely upon before the home goes on the market. This must be performed by a Surveyor and the cost will depend on the value of your home, usually starting from around the £300 mark plus VAT
Once you know where you want to move to and the costs, you must determine how much you can realistically achieve from selling your own home and how much, if any, you will need to borrow.
We recommend that this is when you should invite an Estate Agent (or three to compare valuations, costs, and services). While a national company appears to be well marketed, it is widely recognised that the consumer usually achieves a better service and result by using a smaller independent business, although that adage is not specific to Estate Agency.
Armed with a realistic valuation of your home you will now be able to decide on whether you need to obtain a new mortgage. In some cases, the mortgage you have on your existing home will be portable i.e.., the mortgage can be transferred from your existing house to your new property.
You may still need extra funding or a replacement mortgage, and so we recommend that, yes, ask your own bank or mortgage lender for a quote, but also invite an Independent Mortgage Advisor or Financial Advisor to give you advice. It should be noted that a bank is only permitted to tell you about their own products whereas the IFA can search the whole of market for the best product for you.
Hopper and Co have independent mortgage specialists that they recommend, but who work for the client and not for the Estate Agent which avoids any conflict of interest.
When is the best Time to sell?
If you would like to find out more about the processes involved in selling your home, please contact Hoppers Estate Agents and find out about obtaining your homes MOT prior to going to market and find out if your house is “BEACH BOD READY” for the market.