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For whatever reason you’ve decided to sell your property, but exactly what does the process entail? To help put you in the picture, we've put together this handy list of the frequently asked questions we get from our vendors…
The cost of selling your property will include our commission fee, which is usually an agreed percentage of the eventual selling price plus VAT. Our fee becomes due on exchange of contracts but payable on completion. You will not be charged for any marketing or advertising activity unless it falls outside of our normal remit. Another cost to factor in will be your solicitor’s fees and we’d be happy to put you in contact with of our preferred solicitors who would be able to give you a quote. You may also have to pay for an Energy Performance Certificate (EPC), with the cost ranging from £35 to £120.
An EPC is a certificate that provides information about your property’s energy usage and typical energy costs. It also gives recommendations on how you can increase your property’s efficiency, ultimately reducing your energy usage. The certificate will show which band your property is in using a scale of A-G, with A being very energy efficient. An EPC is valid for ten years and is a legal requirement when selling a property.
From our experience, prospective buyers tend to feel more relaxed when the owners aren’t present and as we accompany all viewings, there’s really no need to be around. Of course, you are welcome to be present if you so desire, but we’d just suggest you leave the prospective buyer to wander freely with us while making them aware that you’re available to answer questions if necessary.
It’s common for the prospective purchaser to request the property be taken off the market once their offer has been accepted, however, the decision is up to you. We usually advise to withdraw the property for a few weeks as a show of goodwill and to allow the purchaser time to get themselves in a position to exchange contracts.
The purchaser, not the seller, pays stamp duty, so unless you are buying another property, then it’s of no concern.
This is only applied if the property you are selling is not your main home, for example buy-to-let properties or an inherited home. If it is your main home, and provided you meet certain criteria such as not letting part of the property out or using part of it exclusively for business purposes, then you are exempt.
Your Title Deeds are important as they prove that you are the rightful owner of your property and if you have a mortgage, they will be held by your lender. Your solicitor will obtains the deeds and let the buyer’s solicitor have a copy. If you don’t have a mortgage, your solicitor will check the Land Registry where the information needed can usually be found.
The mutually agreed completion date that was set at the time of exchange is when you will need to vacate the property.
“ The service provided by the entire team at Butler and Stag is fantastic. From purchasing a plot, to the sale of the properties was run fantastically. Very professional outfit and a pleasure to work with. We certainly will be using Butler and Stag again in the near future. ” Matthew Hammond
★★★★★ 4.9 Bow (London Office)
★★★★★ 5.0 Theydon Bois (West Essex Office)
★★★★★ 5.0 Buckhurst Hill Office
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