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Sometimes the excitement of purchasing your new home can take over, and you forget all about selling the home you already have!

We have compiled a list of some of the things that you should consider when selling your home to ensure that it goes as seamless as possible.

1. Marketing

First of all, prep your home so that it is in its best shape. A fresh lick of paint can go a long way in advertising your Property. Maximising interest and footfall through your front door will work wonders and give you the best chance of a sale. Remember, more interest means that your Estate Agent will likely push your sale to a closing date to ensure that buyers put their best Offer forward. Please see our blog on ‘Closing Dates’ for further information.

2. Home Report

A Home Report will form part of the marketing pack for your Property. Every Seller must provide a Home Report for prospective buyers. Forward this to your Estate Agent and this can be distributed at the outset and will negate any bogus buyers.

This report includes three documents: a single survey, an energy performance certificate and a property questionnaire, which must be completed by you to the best of your knowledge and belief. Remember; answer as truthfully as the buyer will rely upon this as part of the contract!

3. Accepting an Offer

Before accepting an Offer you should consider the position of your buyer. It is commonplace that many people will require to sell their existing property in order to fund their new home; however, you might find that your buyer is a chain-free cash buyer, i.e. a property investor or someone who has already sold their home and does not require a mortgage or first-time buyers who are new to the market and will be securing a smaller loan.

4. Enlist the help of a solicitor

Once you are happy to accept an Offer, The McKinstry Company can handle the sale of your Property from the start, right through to completion. This involves negotiation of the missives (contract) on your behalf; we will look at details such as the entry date, inclusions, boundaries, disputes, proposed developments, building works, services, repairs, grants, structural problems and more.

The aim of your solicitor is a concluded missive. Up until this point, both parties may walk away at any point. Once the missives are concluded you are contractually bound to sell your Property on your chosen entry date and that neither party may walk away without penalty. If you decide that you no longer wish to move forward and sell your Property, then the purchaser can decide if they wish to pursue you for damages.

5. Settlement

At settlement, the buyer’s solicitor will pay The McKinstry Company the purchase price. In return, you must hand over the keys to the buyer, either directly or you can leave them with the Estate Agent for the buyer to collect. You must ensure that you have cleared your Property of all your things that you have not otherwise agreed with the buyer are to be included. It’s wise to have your removal van booked for the morning of settlement and call in some favours, as you can never quite tell how long it’s going to take!

After settlement, The McKinstry Company will then undertake to repay your existing mortgage. We will also take steps to discharge this from the Land Register and settle any outstanding debts including the Estate Agent invoice and any factoring charges due. The remainder of the proceeds are yours! These will be distributed to you by cheque or into your chosen bank account, as we know that you have already decided how these funds are going to be spent before they hit your account!

Contact The McKinstry Company Property Lawyers in Ayrshire & Dumfries and Galloway

As we roll into spring, we see the Property market increase; many people are on the lookout for their dream home to move into ready for the summer months. Have you seen something you fancy? Why not get the ball rolling on selling your own home by arranging to have your own home valued? This will allow you to narrow down your onward search to something that you can realistically afford.

Contact one of our experienced Conveyancing Team members today and let them take the stress out of selling your home!

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Some of our happy clients
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We are open from 1st July by appointment. We will be restricted to executry and matrimonial clients. Social distancing measures will be in place.