Step 1 – Accurate market appraisal
Pricing your property correctly is key to you getting the best possible buyer and the best possible price in a timescale that suits you.
Our expert valuers have carried out hundreds of market appraisals and will provide you with a comprehensive insight into comparative local values. They will advise you on the correct pricing strategy to list your property helping you to agree a sale for the best possible price.
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Step 2 - Choosing the right estate agent
A reputable, professional agent should take care of all aspects of your property sale with minimal involvement from you. From arranging an Energy Performance Certificate through to helping you through the conveyancing process, your agent should be with you ever step of the way.
Your agent must be able to conduct constant viewings so consider their opening hours, also what kind of marketing your propertywill receive. These are critical to obtaining the maximum exposure for your property and obtaining the best possible price.
Step 3 – Which Solicitor to instruct
An experienced, efficient conveyancing solicitor can enormously impact the progress of your property sale. It is important to employ the services of solicitors that specialise in conveyancing, with years of experience within this field.
Solicitors’ fees can vary greatly so ensure you have a complete breakdown of costs before you instruct your solicitors.
Strawberry Star has years of experience working with a panel of approved conveyancing solicitors and we are happy to provide you with recommendations.
Step 4 – Preparing your property
Research suggests that buyers spend a total of just 25 minutes viewing a property before deciding to buy. First impressions can turn off a prospective buyer instantly, so it is vital to make sure your property is presented as appealingly as possible from the outset. The 3 most common factors in putting off buyers are dirty kitchens, dirty bathrooms and scruffy exteriors – keep on top of the appearance of your property to maximise its appeal.
Strawberry Star’s expert valuers will give you helpful hints and advice prior to putting your property on the market.
Step 5 – Exposing your property to the markets
The marketing your agent proposes to undertake for your property will be a key factor in a successful sale.
Your property must be exposed to the widest audience possible through a variety of media. When you instruct Strawberry Star to sell your property it will be listed on the primary property portals, emailed, text and called out to our database and again international coverage both online and offline within the key buying markets for London property. With a local presence in London, Hong Kong, Singapore, India and the Middle East we have you well covered.
Step 6 – Viewings
Your agent should accommodate viewings outside of office hours and at weekends with the sales consultants visiting your property prior to marketing so that they know every feature of the property inside out. You should also ensure that the agent accompanies all viewings.
You should receive thorough feedback after every viewing to help identify potential barriers to sale or features to exploit.
With Strawberry Star you can also login to your own personal account to see viewing feedback and offers 24/7.
Step 7 – Dealing with offers
When an offer is received on your property you should be notified in writing and verbally as soon as possible. Aside from the offer itself you should consider factors such as the buyer’s financial position, whether the timescales are convenient for you, the existence of a chain and any special conditions made as part of the offer.
We ensure that we verify your prospective buyer’s financial ability to proceed with the purchase by having them chat with our mortgage brokers, ensuring no nasty surprises along the way.
Step 8 – Offer accepted
When you accept an offer a Memorandum of Sale will be produced outlining the general conditions of sale. Both you and the buyer will need to instruct solicitors and your buyer will complete a formal mortgage application and arrange for a valuation to be carried out (where applicable).
Your solicitor will send a draft contract to the buyer’s solicitor who will carry out preliminary enquiries. Dates for exchange of contracts and completion will be agreed at this stage.
It is only upon exchange of contracts that it becomes legally binding.
Step 9 – Exchange of contracts
Once the contract is agreed between both parties and signed, the buyer’s deposit is paid to secure the sale. The deposit will typically be 10% of the total purchase price but can be agreed at any level. At this point both parties become legally bound to the purchase.
During the period between exchange and completion, all paperwork is formalised, the Title Deeds to the property are amended ready to be logged with Land Registry and disbursements such as Stamp Duty are requested by the solicitor.
Step 10 – Completion
Completion is when the balance of the purchase (typically 90%) is transferred from the buyer’s solicitor to the seller’s solicitor. The buyer now becomes the new owner of the property in question, with the Title Deeds typically resting with the mortgage lender for the duration of the loan.
Whilst the period of time between exchange and completion varies from one purchase to another, on average a period of 6 – 8 weeks is a typical period to expect.