Selling Your Property
Choosing an agent to sell your home is a big decision and one that can save you plenty of money and time, so it is important to get it right. It is wise to instruct an agent with not only years of experience but success in the principal areas of the property industry.
LA Lettings has not only been formed by Housing Law experts but also from a successful national property investment company which has over 30 years of successfully connecting potential buyers to property and securing the best deals.
We have access to a substantial pool of prospective buyers and the ability to put your property in front of people all around the country. After all, your buyer will not necessarily be found within a mile or two of home, so extending your reach is a must.
Our qualified and knowledgeable consultants can accompany buyers on viewings, so you can be sure that all interested parties are provided with a professional first impression. We will also ask for feedback, so in the event of your property not selling quickly we will give you tips on how to make it more appealing.
When selling a home it is important to be able to answer all of the questions that will inevitably be asked by viewers and to provide additional information about local amenities and transport links.
Every member of our team is fully trained not only to assist you in the process, but also to provide support and advice to buyers to ensure everything goes smoothly for all parties involved. We ensure we have local experts available with an extensive knowledge of the area surrounding your property.
LA Lettings understands fees are not the only factor on your mind when it comes to selling your home, but they are a consideration nonetheless. As such, we are competitively priced and confident you will find great value in every aspect of our service.
When you instruct LA Lettings to sell your property on a sole agency basis, you will receive upgraded property marketing in the form of Rightmove Premium Listings and Zoopla Featured Property.
Our relationship with you
One thing remains constant; remarkable service is all about building relationships. That’s why we take the time to get to know you, your situation and your property thoroughly, to guarantee you the best possible outcome.
How much is your house worth?
Once you have made the decision to sell your home, one of the first things you will want to know is how much it is worth. Based on our experience of your area and how the market is performing locally, we will use our experience to give you an honest assessment and an accurate valuation that will give you a better chance of realising the best price for your home.
We’ve been selling houses since 1868 and in that time we have grown to become one of the UK’s largest estate agencies, with an expanding network of branches covering England, Wales and Northern Ireland.
We’ve never lost sight of the need for local expertise or moved away from our founder, Samuel Rain’s principles that building great relationships, being genuinely interested in our customers and getting the job done is the way to achieve success when selling property.
Our passion for successfully selling property has never wavered. Nowadays thousands of homeowners around the UK trust Reeds Rains to sell their homes.
We are confident in our expertise, so we can concentrate on making sure that our service is friendly and personal.
Selling your home can be quite an emotional business, so we want to make sure you know what’s happening at every stage – how many buyers are interested, what they said and whether they are likely to offer.
We can keep in touch with you in whichever way suits you best – email, phone, meetings, letter – the choice is yours.
Getting the job done
In the local branch there is a team of very personable professionals, all lined up to be at your service.
Mostly they have lived and worked in the area for many years and are supported by a head office team with up-to-date national trend data and the latest information on industry regulations.
At Reeds Rains training is important and the full team are thoroughly familiar with all necessary laws, guidelines and procedures.
Managing your sale
Selling your home is about much more than finding a buyer, in fact that’s only the beginning. The majority of dealings with your estate agent – and the work they do on your behalf – will take place once your buyer has been found.
Progressing the sale from offer to completion is often the longest and most intricate part of the process, and can be the most stressful if it is not handled properly.
Which is why we have both sales experts in branch and a dedicated sales progression team in place, who work tirelessly to make sure your experience of selling your home is as smooth and stress-free as possible.
Our teams use their experience to ensure your sale moves forwards exactly as it should, that all requirements are met and suitable dates for exchange and completion are set. This includes:
Issuing the memorandum of sale
As soon as you accept an offer, we will begin to draw up the memorandum of sale – a document that confirms both buyer and seller have agreed to the transaction.
Confirming solicitor details
Your solicitor will need to interact with your buyer’s solicitor throughout the process, so ensuring they are in touch and ready to proceed is our next task.
Checking the chain
One of the most common reasons for a sale to fall through is that the chain collapses. Not all sales have a chain beyond the seller and the buyer, but if your buyer is selling a property or you are buying another, the additional links in the chain can cause stress. Our dedicated teams contact all parties in the chain throughout the process to check they remain on track.
Managing progress of key documents
Once the legal work is underway, the last thing we want is for delays to interrupt your sale. Our team will do everything possible to keep the process on track by chasing up the release of your draft contracts, followed by all local searches, plus enquiries from your buyer’s representatives.
Weekly progress calls
We want you to be assured that your sale is moving forwards all the time, which is why our sales progression team is committed to catching up with the relevant solicitors each week and reporting back to you.
Managing the day of exchange
Your exchange day is when all the loose ends are tied up, deposits are transferred and contracts are exchanged, legally binding you to the sale. Our experts will be on hand to deal with any last-minute requests and to give you the good news once the exchange is confirmed.
Our local experts are ready to help you achieve a successful sale and can start by giving you a free valuation of your home today.
The Guide to Selling
Before you go any further, take a look at our step-by-step guide to selling your home, which will tell you exactly what challenges lay ahead and how you can expect the process to unfold.
1. Find out how much your home is worth
The first task is to find out what your home is worth, and for this you may ask several local estate agents to provide you with a market valuation. You must remember that there is no guarantee your home will sell for the full asking price, so it’s important to consider the local market conditions along with your expectations.
You may find that you get differing market valuations so it’s important to remember that the highest price is not always the best to go with. If your property is ‘too expensive’ potential buyers are less likely to view and once a property has sat on the market for a long time the final sales price achieved is likely to be much lower. In comparison if you price your property keenly, you may receive interest from multiple buyers, this can result in the possibility of ‘sealed bids’, which can achieve in excess of an asking price.
So choosing the right price based on the current market conditions and bearing in mind your own situation and the reason for selling, is very important.
2. Choose the right estate agent
There are many factors to consider when you select an agent to sell your home, and you should avoid comparing them based only on the fee they charge. It is important to have a high-quality, knowledgeable and responsible agent acting on your behalf.
An estate agent will take on a variety of roles in the sale of your home. For starters, they will be able to market your property on a selection of portals (the best agents will use both Rightmove and Zoopla). In addition they are likely to have a pool of prospective buyers of which they have built a rapport who are actively seeking properties.
As well as marketing your property, the estate agent will arrange and conduct the viewings. Most buyers will want to view a suitable property at least a couple of times before making a decision and during this process an agent can ensure all of the right information is shared to help them with their decision. They should only show potential buyers who are in a position to offer and should ensure that the house meets the buyer’s needs to avoid wasted viewings. Sometimes it is best, especially on a property that is likely to attract a lot of interest, to host an open day encouraging as many people as possible to view the home on the same day.
3. Clean, tidy and improve your home
Remember first impressions count, so start at the front and work your way through your property with a critical eye, as if you were a potential purchaser and don’t forget about the outside including gardens.
It is often worth tackling those minor maintenance jobs you have put off for a rainy day before viewings start to make it more appealing to prospective buyers. A fresh lick of paint can make a big difference to the way people perceive your property and this is especially true if you have any ‘individually’ decorated rooms which might look bigger and brighter with a more neutral colour. One very important tip is to minimise any clutter, viewers need to be able to imagine the house with their personal belongings and furniture and this is easier if the rooms are clear and clean.
Minor improvements or repairs such as fixing a leaking tap, re-fitting cupboard doors that have slipped off their hinges or repairing broken lights cost little to nothing, but can make the difference between a potential buyer seeing it as their new home or seeing ‘lots of work’ to be done.
4. Wait for offers
There is no way to know how much time or how many viewings it will take before you receive an offer, but it is wise to have a figure in mind, based on the realistic market conditions, that you would accept for the property.
An estate agent is legally bound to tell you about and confirm in writing every offer that is made, regardless of its amount. While they will be happy to advise you on how good an offer is, it is your decision on whether to accept it or not.
When a potential buyer makes an offer, the estate agent will take on the role of managing the negotiations and if needs be encouraging buyers to increase their offers to a price you are willing to accept. If several offers are received, the agent can advise based on each buyers position which offer might be best for you. Remember once you are in receipt of an offer this may put you in a stronger position for any onward purchase, therefore it is worth considering what the offer allows you to achieve, even if it below the level you had originally anticipated. This is where an agent can help with negotiation and chain building.
5. Accept an offer
Sooner or later, you should receive an offer that you wish to accept. At this point, you can instruct your estate agent to move on to the next stage of the sale, subject to survey and contract. There is no legal reason for you to take the property off the market at this point, but it is common for the buyer to request you do so.
6. Instruct a solicitor
One of the most important people in your house sale will be your solicitor, who is tasked with carrying out all the conveyancing and legal work associated with the process. Among their key tasks are drawing up a contract of sale and releasing the necessary details to the buyer’s solicitor.
Each party within the chain will have their own solicitor and only the estate agents can speak to all involved. So the agent can often make the difference in ensuring the sale reaches completion as they are able to ensure that you are kept up to date with and chase up outstanding paperwork or information.
If you are buying another property related to the sale, then you will use the same solicitor for both transactions. Leaders has an exclusive arrangement with Lifetime Legal which offers many benefits beyond conveyancing including mover protection, unlimited legal advice, legal Will drafting and others – please ask our branch for more information before deciding to appoint your own solicitor
7. Formal Valuation and Survey
Once the buyer has had their offer accepted they will usually begin the process of applying for their mortgage. One of the requirements of this will be for a formal valuation of the property by an independent surveyor and many buyers will also ask for either a RICS Home Buyers Report or Structural Survey at that same time. This can take anywhere from 30 minutes to 3 hours depending on which type of survey they chose. You will need to be willing to allow the surveyor into the property to complete their work.
8. Finalising the sale
On some occasions, the legal process may highlight issues that the buyer will want to discuss before proceeding. For example, local and environmental searches may show details of proposed building plans, or telephone masts etc near to the property, or the survey can reveal damp or structural concerns, which may result in the buyer wishing to renegotiate the price.
Good advice from an experienced agent will help achieve the right outcome for you, if this situation arises.
9. Exchange of contracts
At the point of exchanging contracts you become legally committed to the sale, as does your purchaser. In other words, you could face legal action if you go back on your decision to sell after this point.
A completion date is agreed between you and your buyer, and they will hand over their deposit to their solicitor. You now need to start planning your move, so booking a removal van is likely to be the number one priority.
This is the final stage of the process; on the day of completion the purchase monies are transferred to your solicitor and you will receive a phone call from both your solicitor and the agent to confirm when these have been received. At that point you will need to have moved all of your belongings out of the property and hand over the keys to the new buyers – usually through the agents.
Selling your property FAQ
We have compiled a list of common questions and answers asked by sellers. Should you have further questions please don’t hesitate to get in contact with your local branch.
How much will it cost to sell my property?What does an estate agent do to earn their money?How can I achieve the best possible price for my home?What are the title deeds?What do viewings entail and do I need to be in?What are the next steps once I have accepted an offer?What makes a good offer?Will I need to pay Capital Gains Tax on my property?When do I need to move out?What are exchange and completion?
- How much will it cost to sell my property?
- What does an estate agent do to earn their money?
- How can I achieve the best possible price for my home?
- What are the title deeds?What do viewings entail and do I need to be in?
- What are the next steps once I have accepted an offer?
- What makes a good offer?
- Will I need to pay Capital Gains Tax on my property?
- When do I need to move out?
- What are exchange and completion?
Exchange and completion are the two most important stages in the process of buying a property.
Once your lender has approved your mortgage application and your solicitor or legal representative has finalised all of the relevant details and completed various searches, they will advise you it is time to exchange contracts.
At this point, your solicitor will send your signed contract to the seller’s solicitor, who will return their own version signed by the vendor. Once this exchange has occurred, the sale is legally binding, meaning you are in no position to change your mind.
If you choose to back out after this stage, you will forfeit your deposit to the seller, so you must not enter into it lightly.
The next stage is completion, which is typically set for a week or two after exchange, but can take place at any time, including on the same day. You may have to complete some formalities, such as signing some final documents or pay any outstanding charges.
However, once this has been dealt with and your solicitor receives funds from your lender and passes the total to the seller’s solicitor, you will pick up the keys to your new property. Congratulations, you have now purchased your new home!
Upon obtaining a free valuation and receiving your instructions, we will market your property with professional photos bringing out the best of your property to a large audience of prospective buyers in our investors database, online and other advertisements local to your property making your property seen by the biggest audience of prospective buyers.
We will provide fully accompanied viewings expressing all the best features of your property. When an offer is made, we will contact you immediately seeking your approval and if approved the contracts will be sent out to the parties immediately in which your property becomes subject to contract but remains advertised until the funds are received following the conveyancing being carried out.
We can have property cleaning and any maintenance carried out should your property suffer from any defects which would affect its potential asking price.