We get asked many questions when we sell properties. Below you'll find some of the common ones and the answers to go with them.

Why Use An Estate Agent To Sell My House? Top

It has been said that moving home can be one of the most stressful things you ever do, so get all the help you can. Estate Agents know about selling houses and a good estate agent will provide help and guidance. The service will include guidance on the market price of your house, marketing your property and finding a buyer. They will also liaise with and chase people on your behalf i.e. Solicitors, surveyors and the other parties involved.

What Service Can I Expect From An Estate Agent? Top

You should expect the highest service levels and a very professional approach. When buying a property, the estate agent acts on behalf of the seller and undertakes the promotion of the property, viewings and the final price negotiation. The seller pays them so they have the seller's interests at heart.

What Costs Do I Need To Consider? Top

There are a number of costs to be taken into account when buying property. Typically these are:

• Solicitor's fees (including stamp duty, local authority searches, etc)
• Estate agents fees
• Financial advisor fees (if appropriate)
• Part payments on council tax, ground rents, service charges
• Deposit
• Property insurance and house contents insurance
• Mortgage (indemnity premium and arrangement fees - usually can be added to mortgage)
• Surveyor's fees
• Removal firm
• Services (any utilities that need to be reconnected, mail redirection)

I'm A First Time Buyer, What's The Process Involved? Top

Roughly these are the steps involved in buying property:

• You find a property and make a offer that is accepted.
• You appoint a solicitor.
• You approach a lender for a mortgage.
• The lender will carry out their valuation on the property.
• You instruct a surveyor to do a home buyers report or full survey as appropriate.
• The seller's solicitor supplies draft contract, title deeds on the property to your solicitor.
• Your solicitor arranges for local search and raises any queries with the seller's solicitor.
• Once your solicitor is satisfied you can proceed to signing contracts and agreeing a completion date.
• You provide the seller with the deposit (usually 10%+).
• Signed contracts are sent to you from seller.
• Contracts are exchanged and you arrange insurance for the property.
• Completion takes place on agreed date.
• Your solicitor pays remainder of purchase price to seller's solicitor.
• Seller's solicitor confirms that sale is complete and arranges for keys to be handed over.
• You move in!

Although it can vary, the average purchase will take six to eight weeks to complete.

When Looking For A Property, Should I Register My Interest With Lot's Of Estate Agents? Top

You can do. It really depends on how active you want to be to find your property. Estate agents often keep lists of potential buyers ready to pass on the details of suitable properties. However, this process can take several days to get details to you. In this time, the property may be sold.

It is better to ask your estate agent to call you the moment a suitable property becomes available and visit them regularly to view the details of current properties.

Should I Appoint A Solicitor Before I Find A Property? Top

This is a very good idea. It avoids delay once you've found a property and want to proceed to survey. It also shows the estate agent and seller that you're serious about buying.

Should I Establish The Solicitor's Costs Up Front? Top

Yes. The solicitor's fees for an average purchase or sale will be available to you. Try to get the best and worst-case figures and budget for the worst case.

How Should I Choose A Solicitor? Top

You can choose a solicitor by simply looking in your local Yellow Pages. However, it is often better if you can ask your friends and work colleagues if they know of a reputable solicitor. This way, you are getting at least some confirmation that they are reasonable.

It is better if you can choose a solicitor local to the property you are buying.

What's Involved In The Solicitor's Role? Top

Your solicitor's role is to manage the legal side of the sale. This includes the drafting of the contract, advising on the survey required, undertaking local searches, organising the financial transaction and overseeing the exchange of contracts.

Are All Offers Subject To Contract? Top

Yes. The sale is not official until the contract is signed. In the UK, any party (buyer or seller) can pull out of the sale at any point prior to signing the contracts. Once the contract is signed, it is legally binding and the buyer and seller are bound by its terms.

What Survey Will I Need? Top

If you wish to appoint a surveyor to prepare a report on the condition of the property then this should be done when your offer has been accepted. Normally, three types of survey are available, depending on the extent of information you require.

Mortgage Valuation Report

The mortgage company (lender) use this to determine the current market value of the property. Often their valuation can be up to 15% lower than the asking price - this is because they are always more cautious. It does not mean that the property will not sell for the asking price. It's not advisable to rely on a mortgage valuation - the mortgage company has no legal obligation to you.

Home Buyer's Report

This is the survey that most people arrange. This was made available by The Royal Institution of Chartered Surveyors in the 1980's to bridge the gap between the basic Mortgage Valuation Report and Full Structural Survey. It generally covers any points about the property that are concerning to the surveyor.

Full Structural or Building Survey Report

This survey can be a very detailed report depending on what agreed with the surveyor. It goes a few steps further than the Home Buyers report and is often recommended for property that is particularly old. It highlights points property that are good or bad.

Do I Need The Owner's Permission To Commence The Survey? Top

Yes. The surveyor will need access to the property and therefore the owner will need to be present. Usually, the surveyor will contact the estate agent and request a viewing.

What Do I Need To Arrange At Exchange Of Contracts? Top

Arrange Removals

The British Association of Removers (est. over 100 years) can give you a list of removal firms in your area. They vet and inspect these firms and can therefore testify to their reliability.

Arrange Insurance - Buildings & Contents

You will need to arrange insurance for your property usually when contracts have been exchanged.

Services, Maintenance Contracts And Council Tax

You must notify all your service providers that the property has changed hands and that you are the new owner. It is wise to take meter readings from the property you are leaving and in your new property. This will avoid any over/under payments.

You should also notify the council so that they can update the Council Tax register and being billing you.

Why Is It Taking So Long? Top

Moving to a new property can be a lengthy process. Often there are several key people (solicitor, lender, estate agents, surveyor etc.) involved in the process at any one time.

It is good practice to keep contacting your solicitor and estate agent to keep up to date with what is happening. Don't wait for them to contact you!

How Much Can I Borrow? Top

This will vary on two things:

1) How much deposit you can put down.
2) Your current salary and earning position.

It is crucial that you consult a financial advisor as soon as you begin looking for a property. They will meet with you and go through the options available to you.

How Do I Find Out More About The Property Or Arrange A Viewing? Top

You should call the estate agent that is advertising the property. They will take a few details from you and confirm a time and date for a viewing or send you further property details.

Why Do You Require A Phone Number Before You Will Arrange A Viewing? Top

This is for security.

What Is Gazumping? Top

Gazumping is when the seller has accepted an offer but then sells to someone who comes along later and makes a higher offer. In England and Wales a sale is only binding when there has been an exchange of contracts.

What Is A Chain? Top

This is where there are a number of property sales depend upon each other. For example, A is selling to B, but B cannot buy until they have sold their house to C, and A cannot sell to B until they can buy a house from D. All these have to be co-ordinated.

Can I List My Property For Sale With More Than One Estate Agent? Top

Yes. You can list it with as many as you like. However it is worth looking at the contract for each estate agent to determine any penalties for multi-listing. Some will charge half of their commission if you sell it via another agent when they introduced the buyer.

It can also be counterproductive when your potential buyers see the property listed with several agents. It gives the impression that you are struggling to sell.

Why Do I Need A For Sale Board? Top

The "For Sale" board is one of the most effective ways to attract local buyers. Its part of your whole marketing package and you will almost certainly miss out on potential buyers if you don't have one.

Disclaimer: The answers given on this page are for guidance only.