Selling Your House in Scotland
So you've decided to sell your house, but you're not sure of the steps involved. Discover our step-by-step guide on what you need to do if you're thinking of selling your house. From arranging a valuation, arranging a home report and conducting viewings - everything you'll need to know if you're thinking of selling.
Check out our step by step guide on what you need to do if you’re thinking of selling your house.
Arrange a Property Valuation
Your chosen solicitor or estate agents will be able to give you a rough guide on how much your property might be worth. They’ll do this by checking various aspects such as recently sold prices of like for like properties in the same area, economic indicators, location of the property, for example if you live in a prime location, you will be expected to pay a higher price.
Other factors which could influence the property value include proximity to local transport, size and design, age of the property, condition of the property, kerb appeal, view, and scope for improvements/remodelling.
Work Out the Costs Involved of Moving
Figure out what the costs are likely to be to move to a new house. Consider estate agency fees, legal fees, removals and any other associated costs such as short term storage or temporary accommodation if you sell before you buy. Plan your budget upfront so you’re not left with any unexpected costs further down the line.
Arrange a Home Report
All properties for sale in Scotland must be marketed with a Home Report, it is a legal requirement.
The Home Report is a pack of three documents (single survey/energy performance certificate/property questionnaire) which provides potential buyers with a clear picture of the condition of the property for sale. The property questionnaire is completed by the current owner and includes information that only they would know such as council tax band, bin/recycling days, communal factoring costs etc.
Instruct a Solicitor
You’ll need a solicitor to carry out the conyancing part of the sale of your property. This is the legal paper work which transfers ownership between one party and another. Some estate agents (if you’re using one) will offer this service if they have in-house conveyancer’s but, in most instances, you would need to instruct a solicitor.
Decide on an Asking Price
You should advertise your property as ‘fixed price’, ‘offers over’ or ‘offers around’.
‘Fixed price’ means the property is sold to the first person to offer the advertised price. ‘Offers over’ means you sell to the highest bidder. ‘Offers around’ indicates that you’re willing to negotiate.
If you are looking for a quick sale, you may wish to set your asking price at a ‘fixed price’, however, if you’re looking for the best possible price you should consider marketing at ‘offers over’.
Marketing Your Property
If you have gone down the estate agency route to sell your property, they will market your property for you. You’ll have various options where you’d like prospective buyers to see your property i.e. offline/online.
Nowadays, most people use the internet to browse properties for sale, so for the best chance of your home being seen, you want to visible on all the most relevant online portals such as Rightmove, Zoopla, ESPC. You will be charged according to the package you select. If you wish your property to stand out, you can often pay a little more for a ‘limelight’ listing. If you have extra budget in your pot for selling, you could consider extras such as video tours of the property and don’t forget to use your own social media channels to share your property.
Prepare for Viewings
Your property is now on the market and you are ready to have potential buyers view your home. First impressions count, so check out our guide for getting the most out of viewings.
You can either show people the property yourself or you can arrange for your estate agents to do this for you. If ask your agent to do it, they will ask viewers for feedback on which you should act upon to improve the viewing experience for other potential buyers.
Receive and Negotiate an Offer
Your estate agent or solicitor (acting agent) will be on-hand to negotiate when offers start coming in. They’ll advise you on market conditions and help make sure you get the best possible price for your property.
Conveyancing is the transfer of legal title of real property from one person to another. Your solicitor will deal with this step and keep you in the loop.
Your Sale Completes
When the legal work/conveyancing has been completed, the sale of the property is completed on the agreed Date of Entry. The seller’s solicitor receives the money for the sale and the keys are handed-over to the buyer. After this, some further paperwork has to be done by the seller’s solicitor before they transfer the financial proceeds of the sale to you, the seller.
If you’re looking to get your selling your property in January, the first thing you’ll need is a Home Report. We are RICS Charted Surveyors specialising in Home Reports across Scotland from as little as £85. Get in touch today to arrange a time to suit you. We offer early morning or evening and weekend appointments. Call us on 0131 608 0175 or email us at firstname.lastname@example.org
Author: Andrew MacKenzie