Sales

How long is a piece of string? No two sales are the same and there are many factors that can affect a property sale, such as length of chain, surveys, mortgage delays… But to give you an idea, where there is no chain and the survey doesn’t request further investigation, the average period between an offer being accepted and an exchange of contracts is 4 to 6 weeks on a freehold property, and 8 to 10 weeks on a leasehold. Completion would then normally take place within a couple of weeks.

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

We can’t dictate or predict how long your sale or purchase will take, but we will keep you informed every step of the way so you know what to expect and when.

Stamp duty is a tax payable when you buy residential property or land above a certain value in England or Northern Ireland. You may also see it referred to as Stamp Duty Land Tax or SDLT. There are some exceptions to this. The stamp duty thresholds are currently

• 0% payable on properties up to £250,000
• 5% payable between £250,000 and £925,000 
• 10% on the portion between £925,001 and £1.5 million
• 12% on the portion over that amount.

First-time buyers can receive stamp duty exemptions. If you are buying your first freehold or leasehold property, and it is to be your only or main residence, you do not have to pay stamp duty on the first £425,000. Anything up to £625,00 is subject to 5%. If the property is worth more than that,  you do not qualify for first-time buyer’s relief, instead paying the standard rates as shown above. 

Any property sale depends on a number of factors: price, the agent, the market at that time and the property. Assuming that all of these factors are in order – the property is on the market at the right price for that current time and it’s in a saleable condition, and the agent is marketing it properly – your property should sell. However, in the unlikely event that we’re unable sell your property, it may be withdrawn from our register, without charge, and subject to the agency period within your agreement.

A survey is essential as it reports on the condition of the property , beyond what you can see, and whether it represents good value for the selling price. There are different types of survey available:

• Mortgage valuation – this is a very brief type of survey, referred to in a mortgage application as a mortgage valuation. It is limited to a brief inspection of the property for any obvious faults and provides an assessment of its value.
• Homebuyer’s report – goes into more detail and is a fairly extensive report with appropriate summaries and valuation.
• Full structural survey and valuation – an in-depth report that looks at the fabric of the property as well as its overall condition. It will make appropriate recommendations and suggest a valuation.

Each type of survey is priced according to the amount of work undertaken.

We can recommend professional local firms who provide surveys.

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 a more thorough and detailed report should provide the required amount of information.

You can undertake the sale of a property by yourself, but it isn’t something for the faint-hearted! The skills of a good estate agent are often underestimated, as is the value of their local property knowledge and experience.

Our job is to not only 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 (if applicable)
• carry out all viewings and provide feedback on all viewings
• negotiate the best possible price on the best terms for you
• progress the sale through to completion by chasing buyers and solicitors
• make sure all parties are kept up to date.

It can be an exhausting process, and if it’s your home, an emotional one. As your agent, we are there for you, and to make sure your sale happens to your timescale.

After we have carried out a valuation on your property and once instructed we’ll come back to prepare an attractive, descriptive set of sales details, take external and internal photographs and produce an accurate floor plan, all of which we send to you for your approval.

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