The Sales Process

A guide for selling property through JW Wood Estate Agents

Free Valuation

Review Your Finances

Understanding your mortgage situation is a logical start when considering selling your home – what is the outstanding balance? Are there any early settlement penalties? Are you in negative equity? Until you have received a formal valuation, you can only make a rough assumption on the value of your property. Do you know what you are able to borrow for your next home? Have you spoken to a mortgage advisor?

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Preparing Your Home

First impressions count, let’s make sure your home is well-presented throughout, speak to our team for tips and advice. View your house as if you were looking to to view it, start with the outside making sure it has kerb appeal, then de-clutter the inside, paint the main receptions rooms if able. We we use trained photographers, produce professional floor plans and full colour professional sales brochures to present your house at its best and promote it through numerous marketing channels to ensure maximum exposure.

The Valuation

Getting an accurate valuation is key, this will determine what your home is worth and maybe have a huge impact on what you’re able to afford moving forward. Being the leading Estate agents in County Durham since 1910 our team of expert valuers are at hand to advise and guide you through the whole process. We really do understand the market, our free valuation service is available at a time best suited to you and can be arranged by contacted our team today

Viewings

Should you not wish to host viewings on your own, our accompanied viewers will show round all prospective buyers. We are able to work the viewing appointments around your busy schedule. We can help answer any questions the potential buyers may have and we will always provide prompt and honest feedback on every viewing. Our negotiators will also visit your property to enable them to answer queries.

Receiving An Offer

We will inform you of all offers made on your home. Using our knowledge of the current market we can advise on the validity of the offer and whether we feel you should enter into negotiations. We will communicate any conditions of the offer to you in writing, make sure that that the potential buyer is in a good position to proceed with the sale and, most importantly, keep you updated at all times.

Instructing Your Solicitor

The conveyancing process does not start until you have formally accepted an offer, it is advisable to have a solicitor appointed, briefed and ready to go as early as possible. If you are selling and buying a property it may be more efficient and cost effective to use the same solicitor for both transactions. We work with several local solicitors who we are happy to recommend.

Accepting An Offer

If the offer is acceptable, we will write to all parties to confirm the agreed price and possible conditions of the offer if agreed. You will need to confirm your solicitor’s details so we can prepare a memorandum of sale. At this point you will need to instruct your solicitor. Your solicitor will then obtain the title documentation and details of the outstanding amounts on any mortgages. We will keep in touch with all parties and keep you informed throughout this process.

Exchange Contracts

Once all parties are happy and all queries and have been resolved, and the buyers have their mortgage offer or funds formally in place, then the exchange of contracts can take place and a completion date agreed. On signing the contract, the deposit (usually 10% of the purchase price) will be paid by the buyer's solicitor to your solicitor.

Completion

Once you have exchanged contracts, you have up until the completion date to move out of your sold home. The completion day is when you legally transfer the ownership of the property to the purchaser and the outstanding balance is transferred from the buyer to your solicitors account. Your solicitor will confirm to all parties when the money has cleared. We can then release the keys to the buyer - your house is now sold! Any outstanding mortgage you have had on the property, will be settled by your solicitor directly with your provider.

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