1 Organise your Finances
If you’re planning on buying a new home following the sale of your own, it’s vital you organise your finances as soon as possible, whether you’re remortgaging or applying for a new mortgage. This is even more important now due to the Mortgage Market Review, during which your lender will conduct a thorough screening process to check you’ll be able to afford your mortgage repayments, based on your specific incomings and outgoings.
Organising how much you can borrow early on will give you a better idea of what you can afford to buy next, as well as how much your home will need to sell for, so you can move successfully. If you would like mortgage advice, please ask us and we’ll put you in touch with a specialist financial advisor.
2 Arrange your Home Report
In Scotland, it’s a legal requirement that you arrange a Home Report before you put your house on the market. This provides information about the condition and value of your property, and is made available on request to potential buyers. It consists of three documents: a Single Survey, an Energy Report and a Property Questionnaire.
We can put you in touch with local surveyors who will carry out your Home Report quickly and conveniently. It’s worth remembering the Home Report Survey may reveal certain repairs needed on your property which could affect the price a buyer is willing to pay. If you’re concerned about potential issues, it may be worthwhile rectifying these before the next step - marketing.
3 Go up ‘For Sale’
We’ll use many different marketing channels to stimulate interest in your property such as our own website and other online portals like Rightmove, our window display (which benefits from a prime location in Ayr Town Centre), database matching, glossy brochures and advertising. And of course, our eye catching Stonefield ‘For Sale’ sign board which can play a key role in creating awareness and word of mouth.
4 Prepare for Viewers
First impressions really do count with potential buyers, so here are a few basic things you can do beforehand to help increase desire for your home:
- Give your property 'kerb appeal' which means make the outside look as good as possible e.g. mow the lawn, clean the windows, move bins out of the way, clear any clutter or touch up chipped paint.
- To make the inside of your home as welcoming as possible, clean until it’s sparkling, tidy away any clutter and clear out your cupboards - potential buyers may want to look inside to check on storage space!
- Fix any niggling DIY jobs that might put buyers off.
- If you’re thinking of redecorating, use neutral tones so buyers can picture their own furniture in the rooms.
- Replace any odours of smoke or pets with flowers or freshly brewed coffee.
We would be delighted to assist with viewings on your behalf. However, if you would prefer to do your own viewings, we’ll share our top tips with you and chat through possible questions, so you’re well prepared to give a positive response.
5 Let us Negotiate
We’ll handle all negotiations between you and potential buyers. If there’s more than one interested party, we’ll set a closing date for receiving all offers. As well as the price being offered, your decision to accept a particular offer may be influenced by a buyer's position and how they fit in with your requirements, e.g. if they’re first time buyers, in a short chain, or if they can they work to your timescales better than other buyers. Remember, we’re acting on your behalf, not the buyer’s, so we’ll work with you to ensure the best possible outcome for you.
6 Instruct your Lawyer
Once negotiations have reached a positive conclusion and you’re happy to accept an offer, you’ll need to instruct a property solicitor/conveyancer, if you haven't already done so. We can recommend a local conveyancing solicitor if you need one. At this stage, you can also move forward with your own mortgage application if needs be, as you now know how much money you’ll make from the sale of your home.
Your solicitor will progress the sale to ‘complete missives’ which is the contract for sale. From this point, both you and the buyer are legally bound to go through with the transaction. Your completion date will normally be set at this stage too.
7 Time to move out!
On completion day, your money will be transferred and your buyer will move into their new home. There’s no denying packing up and moving out can be stressful, but using a removal company can help ease the pressure. Please ask us for our recommended removal companies. We have contacts operating across Ayrshire to help pack, move and unpack your belongings quickly and carefully.
Before you leave, remember to take meter readings and re-direct your post. We suggest you leave some notes for the new owner to explain how things work and where to find the essentials such as the boiler switch - they’re sure to be appreciative (and more likely to help forward any of your post!)