how to sell a house

Selling a house can be one of life's more stressful events, especially if you are also buying a home and you want to sell your property fast. It may be the first time you've ever tried to sell your house or flat, or maybe it's been years since you last decided to sell your home.

Whatever your circumstances, Primelocation.com's 'how to sell a house' guide will quickly get you up to speed on what to expect, on the latest regulations and on how to maximise the chances of selling your home fast and for the best possible price.

Preparing your property

Getting your house or flat in peak condition for its eventual sale may seem like plain common sense, but some still overlook this crucial part of the process and risk losing some of the potential value of their home, or worse, failing to sell it at all, by simply not covering the basics.

First impressions count for everything when it comes to property, so it's vital your home looks its best for potential buyers. Maintaining this condition from the moment you get the valuations until an offer has been accepted will give you the best chance of selling your home and of achieving the best possible price, whether you're selling a house, flat, cottage, bungalow or studio apartment. So what preparations should you make?

The external view

This is the first view your potential buyer will have of your property, so you should focus on optimising its appearance:

• Tidy up the front and back garden (weed, trim hedges, add some new plants if necessary, clear any dead or unsightly plants, mow and fix any damaged lawn)
• Repair cracks, holes or blemishes in the driveway or walls
• Give the window frames and door a lick of paint if they need it
• Make sure the house number is clearly visible
• Keep rubbish and rubbish bins out of sight.

The interior

• De-clutter - create more space by moving some furniture into storage, tidy away unnecessary objects, books and knick-knacks, clear out cupboards and wardrobes of non-essential items
• Make minor repairs - fix leaky taps and cracks in the walls, replace broken or crooked tiles, replace burned-out light bulbs - make sure everything works!
• Clean thoroughly from top to bottom - carpets, floors, windows, fixtures and fittings, etc
• Eradicate unpleasant odours, like pet smells and cigarette smoke
• Decorate rooms if required - a lick of paint can re-energise the appearance of a room.

It may seem like a lot of work, but with time, energy and even a bit of money spent now, it could really make the difference to how quickly you sell your property and how much you get for it. Speculate to accumulate and ask your estate agent for advice on anything you're not sure about.

Choosing the right estate agent

While a minority choose to cut out the estate agent from the property selling process, it's certainly not for the faint-hearted, and the vast majority of sellers instruct an estate agent. Read our why use an estate agent to sell your home guide right now on Primelocation.com. You can also get up to speed on how to get the best from your estate agent when selling a property. When you're ready, you can use our estate agent search service to find a UK estate agent to sell your house.

The estate agent pitch: valuations and commission

Once you have compiled your estate agent shortlist and done your preparation work on the property, it should be fit and ready for those all-important valuations. You will usually also receive agent commission proposals at this stage and these should be carefully considered.

Here are some tips to help you make an informed decision on which valuation, and agent, you should go with.

The highest valuation may not always be the right one!

Remember, all estate agents are providing you with a valuation for free in order to try and win your instruction, which is why it is recommended you obtain three valuations. Everyone wants to maximise the sale value of their property, but remember an over-priced property may be difficult to sell quickly. Get yourself informed. You can see what prices similar local properties have been selling for by using the sold house prices service on Primelocation.com, which is free to use when you register. Find out the benefits of registering with Primelocation.com now.

How did they arrive at their valuation?

Different estate agents have different approaches when it comes to property valuations. It is often worth asking how they arrived at their property value, what training they have received and what other information they have incorporated into their conclusion. Read more about how to value your home.

Estate agent commission proposal

Estate agent fees will vary from between 1% and 3%. Remember, the lowest commission rate may not always be the best. You should always choose the estate agent you believe will achieve the best selling price for you. In some cases, however, you can haggle to get the fee down, but you should consider that this may end up being a false economy. You want your estate agent to be motivated to sell your property. By haggling too low, you may be taking away much of the incentive the estate agent needs to focus on your sale. Agree a fee that provides a fair deal for both parties. One tactic could be to pay the full fee if the agent achieves the full asking price and a sliding scale downwards if a lower price is achieved.

Does the estate agent know everything about your property?

A note of caution: if there is a serious problem with any part of the property that you are aware of, it is better to inform the estate agent before he conducts the valuation. Honesty really is the best policy, as any such problems will only come back to bite you further down the line.

Instructing your estate agent

Once all your valuations are in, it's time to consider which estate agent you will entrust with the sale of your property. Find out more about choosing an estate agent to sell your house and get advice on which estate agent to choose and how to negotiate the fee and deal with contracts. You can also search for estate agents now on Primelocation.com.

Getting a Home Information Pack (HIP)

Every property with three bedrooms or more now needs to have a Home Information Pack commissioned before it can be advertised by an estate agent. Most estate agents are now equipped with the necessary expertise to instigate and create a HIP for your property. You can now also arrange your HIP directly with Primelocation.com. The pack will contain the following information on your property:

• Energy performance certificate
• Sale statement
• Standard searches
• Evidence of title
• Additional information on leasehold and commonhold sales if required.

Different companies will have different prices, ranging from free to as much as £600. Some estate agents will offer it within their fee; others will get clients to pay for it in part or full, either by an upfront payment or settlement via a credit agreement over a period of months once the property is sold.

For more information on HIPs, or to order a HIP directly, have a look at Primelocation.com's guide to HIPs when selling a property.

Negotiating the price

This stage is the most crucial in determining the sale of your property and the amount it will eventually sell for. It can be a real test of nerve and the negotiation of your sale will be a three-way exchange between you, your estate agent and the buyer. By weighing up your own circumstances and those of the buyer, and with some guidance from your estate agent, you can decide on a strategy for successful and realistic negotiations.

Understanding your own circumstances

Your own circumstances will play a major role in the negotiation process for the sale of your property. You may be under time pressure to get an offer on your current property in order to secure the home you wish to move to. In this case, you may be willing to settle for a slightly lower offer to keep your dream property in sight. You may be under no time pressure at all and be keen to maximise the return on your investment, in which case you can play a little harder to get.

Either way, bear in mind that the longer you take to sell your property, the more you leave yourself open to a possible decline in the overall property market.

There may be huge demand for your property, with lots of offers coming in thick and fast, or your property may stay on the market for months with only a single offer. Gauge the market conditions to understand if you can afford to hold out for the asking price, or whether you may be better off taking any decent offer you can generate. Whatever the circumstances are, be sure to discuss them with your estate agent and work together to create a strategy for dealing with offers that will get you to the desired outcome as quickly as possible.

Understanding your buyer's position

The buyer's circumstances should also be taken into account when you think about price negotiations. Are they chain-free and able to move quickly? Are they cash buyers? Are they currently in a position that could work to your advantage in terms of a quick transaction? Remember, too, that if the buyer is under time pressure, they are in a weaker bargaining position and you can afford to hold out for a higher offer.

What if the property isn't selling?

If your property is not attracting the interest you first hoped for, you need to understand why. Discuss this with your estate agent. He or she may be able to give you valuable feedback that could help turn things around. The most common tactics include:

• Lowering the price - you may need to do this in a slow market and it may bring more offers to the table, which could be crucial if you are under time pressure
• Consider using two estate agents simultaneously - this may cost you more in commission, but it could help you to reach a wider audience
• Remove the property from the market - if the market is slow, you may wish to remove your property from the market until it starts to pick up again
• Wait it out - not every property sells immediately and your continued patience might just earn you the sale in the end. But beware, the longer the property is visibly on the market, the more cautious potential buyers may be about wanting to buy it.

Accepting an offer

Congratulations! You have accepted an offer for the sale of your property. Your property is now officially 'under offer'. You are not legally committed to the sale at this stage, and you can still listen to other offers if you choose, although as a goodwill gesture, many will remove their property from the market at this stage. Similarly, the buyer has the right to pull out of the purchase at any time up to the point of exchanging contracts. So, although things are moving nicely, until contracts have been officially exchanged, there are still hurdles to overcome.

The buyer may commission a survey on your property. If the survey highlights potential problems, the buyer may try to re-negotiate the sale price to take any works into account. Sometimes it makes sense to correct any problems yourself in order to retain the agreed price. For more information, read about what your surveyor will do and guide to choosing a surveyor.

From this point onwards, the legal process of the transaction takes its course.

The legal process

The legal process of buying and selling is known as conveyancing. It varies depending on whether the transaction is taking place in England and Wales or in Scotland. Find out more information on what your property solicitor will do whether you're buying or selling, or both.

You can also get hints and tips from our guide to choosing a property solicitor (conveyancer) and you can find a solicitor now on Primelocation.com.

Preparing to move

So, all the legal work has been conducted and it is time to think about moving home. Primelocation.com's comprehensive moving home information contains all the helpful hints and advice you could need, including a dedicated moving checklist. Good luck!

The content provided in the Primelocation.com guides is for information only. In all cases, independent and professional advice should be sought before buying, selling, letting or renting property, or buying financial services products.