If you have never sold a property before, the jargon can be confusing — and intimidating. Being timid or unsure can impede the process and make your emotional stress even greater. The solution? Arm yourself with information. Then you’ll have the confidence to tackle everything from viewings to completion with confidence.
Here are a few terms you need to know:
it is the first term on the list, it’s the last stage of the selling process. This is the day on which the buyer transfers money to you and you give them the keys. Success!
up a bit: a conveyancer helps sort out the legalities of the sale. A licensed conveyancer or conveyancing solicitor handles tasks such as title searches, property searches, contract drafting, preparation of legal documents, calculation and preparation of stamp duty land tax, completion representation and more.
Performance Certificates contain information about your house’s energy use and typical costs. They also detail strategies you (or the new owner) can employ to make the property more efficient. When selling, you must have an independent assessor in to complete the review, and you must provide the EPC to potential buyers.
Exchange of Contracts: Sounds
very official, doesn’t it? It is! At this stage, your conveyancer has drawn up
a contract with the details of the property and sale. You provide it to the
person who has made an offer. Once they agree, you both sign copies and
exchange them. Then your sale is legal and binding. Neither party can withdraw without providing compensation to the other.
Staging: These are
strategies you use to make your house ready for buyers; it includes boosting
curb appeal, de-cluttering, thoughtfully arranging furniture and other touches.