a) You decide to sell your House

Love it or hate it, it has to go! This is sometimes the hardest decision to make. If you are new to the buying & selling process it may seem a bit daunting at first but by using this list you will know what steps need to be taken in what order!

b) Commissioning a Home information Pack or HIP

To make the process of buying & Selling homes easier, and to reduce the number of  potential sales falling through, HIP's are now required to be in place when you first market your home. HIPS should highlight many potential deal breakers early in the process, allowing time for many problems to be sorted out before the critical Exchange of Contracts takes place. We strongly suggest that Home owners commission a HIP that is Independent from their Estate Agent. This gives the Home Owner more freedom to move between Agents and lets everybody know who the HIP belongs to.

c) Choosing an Estate Agent

This is a potential minefield! Almost all Estate Agents will offer you some type of Exclusive Deal. Most Estate Agents will offer you an attractive sole Agency deal with what may appear to be a low commission rate. A Sole Agency Agreement will tie you to one particular Agent for a pre-agreed length of time. This may not be the best option for you. We suggest getting at least four Estate Agents to visit your home for a basic valuation of your Property and to discuss any terms. Remember that most Agents fees are negotiable!

d) Putting your house on the Market

Your chosen Estate Agent will come to your House and take the relevant details and photographs necessary to produce the sales particulars for your property. They will then produce a draft copy of the particulars for your inspection. You will amend the details as necessary, sign and return them to the Agent. The Agent should now have enough information to market your property.

e) Preparing for viewings

This is easy if you follow a few simple steps! When you have a viewing you would be wise to keep any dogs or cats out of the way for the duration of the visit. You may love your pets but others may not! Keep the kitchen and bathroom areas tidy, nobody wants to see last nights curry on the stove or your dirty socks on the bathroom floor! Never rush the viewing and be sure to point out the positive aspects of your property.

f) Receiving offers

If you have chosen the correct Estate Agent you should be receiving offers around the asking price. You do not have to accept or decline an offer on the spot. It is wiser to discuss the offer with your partner or a friend.

g) Accepting an offer

Once you are ready to accept an offer contact your Agent and let them know. This is the time to put any stipulations on the deal e.g. We would like to complete the sale within 10 weeks.

h) Sale Agreed

This is the time to appoint a Solicitor if you have not already done so.

Once you have agreed a sale, you can stop receiving viewings, but it may be advisable to have a back-up purchaser around in case the first sale falls through. Once a Sale has been agreed you should expect a survey to take place on your property within a couple of weeks or so. If it is any longer than this, chase your solicitor to find out why the Purchaser is dragging their heels. If the purchaser is stalling for time you need to know straight away so that you can re-market your home quickly.

h) Draft Contract

Your Solicitor will draw up the contract of sale and send a copy to the purchasers Solicitor. This is where things can slow down so keep on top of your Solicitor at this stage with weekly phone calls.

i) Exchange of Contracts

The contract is signed by You and the Purchaser. The deposit (usually 10% of the purchase price) is telegraphically transferred or paid by the buyer's solicitor in the form of a banker's draft. The completion date is set.

k) Completion

This is generally set a few days to a few weeks after exchange of contracts, depending on each parties' personal requirements. Residual monies (usually 90%) are now transferred from the Sellers solicitor to Your  solicitor's account.

You no longer own the house!

The Home Buying process in easy steps

a) Looking for your new Home

You are moving for a reason so choose your new home for the right reasons! Look at as many property details as possible. Create short lists then shorter lists! Get your local Estate Agents on side by visiting them and letting them know exactly what you are looking for. Let them know what your current position is and let them know you are serious!

b) Financing your Purchase

About 75% of all properties deals are financed with a mortgage or similar product. Sort this out now and you will have fewer disappointments along the way.It is advisable to get a mortgage agreed in principle as early as possible, as this will speed up your mortgage application.

c) Viewing the Property

When you have found a property that you like from the outside you will need to make an appointment to see the inside! This is done through the selling agent. When you are viewing the property do not allow your self to be rushed. Go two or three times if necessary. Ask lots of questions. DO NOT MAKE AN ON THE SPOT OFFER EVER! Go away and think about it! This will leave more room for negotiating later on!

d) Making an Offer

Once you've found a  property you like, you can  put your offer forward to the sellers Agent, both verbally and in writing. Any offer is subject to acceptance by the Seller and  a contract being signed. There are no legal obligations on either side until the contract is signed. This is the time to negotiate any extras!

e) Legal Representation

If you have not already done so, now is the time to appoint a Solicitor to handle the purchase. The Solicitor will handle the legal paperwork for you and should point out any potential problems with the sale. It is useful to choose a Solicitor that has Knowledge of the area where your intend to purchase the property.

f) Sale Agreed

Once your offer is accepted, you will need to instruct your solicitor to proceed immediately. At this stage it is best if the exchange and completion dates are agreed. This is also the time to instruct your mortgage broker to proceed with your mortgage application and make arrangements for a survey.

g) Draft Contract

This is drawn up by the seller's solicitor and sent to your solicitor, who will raise some preliminary enquiries and may make a Land Registry search to see if the Property is Registered and if the Seller is the person named on the register! Lots of this information is now contained in the Home Information Pack or HIP that must be provided by the Seller and the process should not take the weeks it used to!

h) Local Searches & enquiries*

These must now be included in the Home Information Pack and ready for your inspection. If these (or written valid excuses) are not instantly available, the property may be on the market illegally and the Estate Agent or Seller may well be breaking the Law. These documents show information that includes certain planning issues surrounding the property, who delivers the fresh water to the property and removes the waste water, who may be responsible for certain repairs to sewerage systems etc

i) Survey

If you are receiving financial help with the purchase of the property, the lender will almost certainly want to have a Survey carried out on the property to find out if it is safe mortgage the property. The cost of this may come down to you as the Purchaser.

j) Contract Approval

Once results of the local search and answers to the preliminary enquiries are received (this should now be included in the HIP), the draft contract is approved by your solicitor providing there are no further enquiries.

k) You receive your mortgage offer

This document will be sent to your solicitor for you to sign and you should retain a copy for your records. Once signed and returned your mortgage is in place and you are ready to exchange contracts

l) Exchange of Contracts

The contract is signed by You and the Seller. The deposit (usually 10% of the purchase price) is telegraphically transferred or paid by the buyer's solicitor in the form of a banker's draft. The completion date is set.

m) Completion

This can be set  a few days to a few weeks after exchange of contracts, depending on the individual requirements of each party. Any remaining monies (usually 90%) are now transferred from your solicitor to the seller's solicitor's account.

You now own the House!

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