What to know before selling your home

Deciding to sell your home can be a big decision, and it's often hard to know where to start. This helpful guide tells you what you need to consider before putting your house on the market.

1. Get an Energy Performance Certificate (EPC) >
2. Choose the right solicitor >
3. Choose the right estate agent >
4. Find out how much you can afford >
5. Consider your expenses >

 

An EPC (or an Energy Performance Certificate), is a document that details how energy efficient your property is, its estimated energy usage and costs, and recommendations on how to improve your energy score. 

You need a valid EPC (unless the property is exempt) on or before the day you start marketing your property, and it must be available to prospective buyers or tenants if requested. Not getting an EPC when selling a house could attract fines of up to £200, so it’s important not to skip this step. 

Good to know:
Carter Jonas can help source an EPC for you and talk you through any potential exemptions on your property.

 

While you don’t need a solicitor at the point you put your house on the market, it’s never too early to hire one, and it’s often a good idea to look into this early in the process to ensure you make the right choice.  

Your solicitor will be responsible for administering the sale of your property and will be key to a smooth sales process. They will also need some documents from you which may take some time to gather – the earlier you can start this process, the smoother your sale. 

Good to know:
We work with many trusted solicitors and would be happy to put you in touch if you would like a recommendation.  

 

Choosing the right agent will be a key factor in achieving guide price or above and can also help you have a stress-free sale. It’s important to understand your local property expert’s track record, and whether they: 

• Have registered buyers in your area 
• Are experienced in marketing properties like yours 
• Know everything there is to know about your local area 

It’s also important to check they live up to their word, by checking that previous clients are happy with the service provided. You can also check whether your estate agent has accreditations recognised within the industry for good conduct. 

Good to know:
Carter Jonas has a 4.7* average Google review rating.

If you’re thinking of selling your home, one of our dedicated team would be happy to talk you through your options. Get in touch today to see how we can help. 

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Are you selling at the same time as buying your next property? Here are a couple more points for you to consider.

 

If you’re selling your property to finance another move, you will first need to know how much you can afford to spend on your next home. This figure will be made up of: 

• How much your current home is worth. This will make up a large proportion of your total funds, so you need a fairly accurate idea of how much your home is worth. While online calculators can give you a rough estimate, they do not take into account your local market, property condition and any improvement works you may have done. It’s a good idea to get three independent agents to come to your home to assess its true value.

• How much you can borrow. Ideally you will need a mortgage in principle to start your search for a new property, which is a document your mortgage provider can give to you detailing the maximum amount you can borrow, taking into account incomings, outgoings, dependents etc. You can talk to your current mortgage provider to obtain this, or if you would like to see if you could get a better rate on your mortgage we would be happy to refer you to our mortgage partners Private Finance.

• How much you have in savings. Any savings or investments you have that you would consider putting towards your next home 

Good to know:
Carter Jonas offer a complimentary, no obligation visit to your home to assess its current market value.

 

Now that you know how much you can afford, you need to consider what your expenses will look like. We have outlined a few keys costs below: 

• Stamp Duty: Stamp Duty is a tax you have to pay if you buy a home over £250k (this differs for first time buyers) in England or Northern Ireland, and can be a significant amount. 
  
  
• Estate agent fees: Estate agents will typically charge between 1.5-2% of the final sale price. It’s important not to just go for the lowest fee, and ensure you are confident in the service that your chosen estate agent will provide you. 
  
  
• EPC: An EPC should cost you between £60 and £120 depending on a variety of factors including the size and location of your property. 
  
  
• Conveyancing fees: Conveyancing fees are the legal costs attributed to buying or selling a house, including exchanging contracts and conducting searches.  

Points four and five are key to helping you understand how much you are prepared to negotiate on offers for the sale of your own property, as well as how much you are willing to offer on your next home. 

Click here to use our free stamp duty calculator helps you find out how much will pay in Stamp Duty >

 Discuss your selling options