FAQ : Sellers & Buyers

Frequently Asked Questions

A Guide to Buying & Selling a Property

Buying or selling a property should be a relatively straightforward procedure, given sound, professional and legal advice. However there are many potential pitfalls along the way so here are a few of the commonly asked questions.

How Long Does it Take For a Sale to go Through?

How long is a piece of string? As there are many factors that can effect it, but as a guide: In a simple transaction, where there is no chain and where the survey doesn’t require the need for further investigation, the average period of time between an offer being accepted and an exchange of contracts is between 4 – 6 weeks on a freehold and 8 to 10 weeks on a leasehold, with completion taking place normally within a couple of weeks.

But this is only a guide as it can take a lot longer or can even be quicker, it will depend on many different factors, the number of properties in the chain, Freehold/Leasehold, finances, level of cooperation between all parties and so on.

Do I Have to Pay Stamp Duty?

Stamp duty Thresholds are currently:-

  • No SDLT payable at all on properties up to £125,000
  • The first £125,000 on properties to be free of SDLT
  • Then payable at 2% payable on the portion up to £250,000
  • Payable at 5% on the portion up to £925,000
  • Payable at 10% on the portion up to £1.5m
  • Then payable at 12% on the portion over that amount.
How Much Do You Charge For Selling a Property?

Our fees are individual to the property, the seller and the circumstances but are competitive and will be based on a % of the sale price. Unlike most other agents now, our fees always include full colour photos, floor plans, national advertising and much more and are only payable on the successful completion of a sale.

Other Services?

We won’t try and tie you in to specific solicitors, mortgage companies, insurance agents or other services associated with the sale or purchase of a property. We can, however, point you in the right direction of good local companies. If you are offered all-in deals, be careful and find out how much commission your agent is earning off the back of the referral and the level of service you are likely to receive.

What if I cannot Sell My Property?

The sale of any property will depend on four main factors: The Price, The Agent, The Market and The Property itself. Assuming that all of these factors are in order, your property should sell. However, in the unlikely event of our being unable to sell a property, it may be withdrawn from our register, without charge and subject to your agency period within your agreement.

Can I Look at Properties Before Mine is on the Market?

You can and should look at properties before yours is on the market, this will enable you to get a good idea if you will get what you want. It is worth noting that some Vendors won’t allow people to view if they are not on the market themselves.

Do I Need Finances in Place?

You should have spoken to an approved financial advisor to make sure you can borrow the amount you need and can also afford the repayments before you start looking. Most lenders or financial advisors will be able to provide you with an approval in principle for the amount you can borrow, having this will help with your credibility as a buyer.

How Much Should I Pay a Solicitor?

Conveyancing charges vary from firm to firm, we will happily pass on the details to you of local firms who are proactive in the market at the moment. We strongly believe that a local solicitor should always be beneficial to the sale or purchase of a local property as well as being just down the road if you need to quickly sign anything.

What About Surveying a Property?

There are different types of survey available:-

There is a very brief type of survey, referred to, in a mortgage application, as a mortgage valuation. This essentially is limited to a brief inspection of the property for any obvious faults and provides an assessment of its value.

The Homebuyer’s report will go into more detail and will provide a fairly extensive report with appropriate summaries and valuation.

The full structural survey and valuation is an in-depth report that looks at the fabric of the property as well as its overall condition and will make appropriate recommendations and suggest a valuation.

We can recommend local firms who are able to provide this essential, professional service.

Many buyers are happy to rely on the survey or valuation report carried out in their mortgage application. However, for the cautious, or where there is no mortgage involved, and subject to the age and condition of the property involved, choosing one of these reports should provide the required amount of information.

Do I Have to Use an Estate Agent to Sell a Property?

The skills of a good estate agent are often underestimated. Many people ask “Why do I have to use an estate agent?”

Our job is not only to market a property at the most appropriate price and to the largest market but to also:

Sell the property and its benefits, explain the difference in tenure, justify the need for a maintenance charge, carry out all viewings and provide feedback on all viewings, negotiate the best possible price on the best terms for you, our client. Progress the sale through to completion by chasing buyers and solicitors and make sure all parties are kept up to date.

Just remember we are there for you, and to make sure your sale happens to your timescale.

I have had my property valued - what is the next step?

After we have carried out a valuation on your property, we attend once more to prepare an attractive, descriptive set of sales details and, at that time, we take external and internal photographs as well as a full colour floor plan which we send to you for your approval.

We will then contact all of our prospective buyers, post and e mail the sales details and upload the details to our various websites, making your property available immediately to the widest possible market.

FAQ Selling Buying in Tunbridge Wells