A guide to selling a house or property in Scotland
Do you find yourself spending more and more time browsing for houses on Zoopla and feel the time has come to move on? If you are wondering where on earth to start with selling your home and what the process of selling a property involves, then you’ve come to the right place.
It can be a complicated process, especially if it’s the first time you have sold a property, so we’ve outlined all the steps you need to take to make your transition from your current property to your next home as smooth as possible.
Get in touch with your solicitor
The first thing you should do when selling your home is contact your solicitor to discuss the plans you have. They will look at your title deeds and ensure they are ready to be supplied to the buyer’s solicitor. Try to ensure that you are organised and have any documents such as warranties available.
Get your home valued
The next step to selling your current property is to find out how much it is worth. Book an appointment and arrange a property valuation with a local estate agent to begin the selling journey. By asking different agents to value your home, you can also find out what other benefits they might offer, such as marketing of the property once your home is up for sale.
Some local agents include (insert preferred local agents chosen by Chapelton). Most agents can now visit your property physically in order to value it, but some are available virtually too if you feel more comfortable having your home valued this way.
Have a surveyor complete a home report
You can’t put your house or flat on the market until you have a Home Report. Some of the Home Reports will be completed by a surveyor. You can find a surveyor yourself, or you can ask a local agent to help you find one.
A Home Report contains information about the property you intend to sell, such as the condition of the home, the single survey and the Energy Report.
A surveyor will need to access your home to create the Home Report and it is common for them to get in touch before the visit to ask you some questions about the property that is being surveyed.
Be aware that if a potential buyer is interested in purchasing your property and you don’t supply them with a Home Report within 9 days, you may receive a fine of £500 by your local council. There are very few exceptions to needing a Home Report when selling and these can be found on the Scottish Government website.
Find an agent to sell your home for you
You may wish to sell your home yourself, however most people will find an agent to do this on their behalf. The agent will take you through the rest of the selling process and charges a fee for doing so.
Make sure you entrust a reliable company that will take care of the selling process, marketing the property and assist with the legal process.
Evaluation your mortgage options
Once you’ve decided you are going to sell your current property, it is a good idea to evaluate your financial situation. Find a mortgage adviser that will guide you and tell you what the best options are.
It’s almost time to put your home on the market, but first…
Think about any repairs or maintenance work that needs to be carried out before you put your home on the market. Think of yourself as a buyer when determining what needs to be completed in your home. This is also something you should discuss with the agent you have chosen to sell your home – they will be able to guide you.
Putting your home on the market
It’s time to put your home on the market and find potential buyers. Physical property viewings are now permitted but remember to check the Scottish Government guidelines before you arrange visits into your home.
Once your home is on the market and people have viewed the property or put in a note of interest, you can set a closing date by which the offers need to submitted. This is not a legal requirement and your solicitor should give you advice on whether you should set a closing date.
Accepting an offer
If a potential buyer wants to make an offer to buy your home, they can do this by submitting an offer via their solicitor. You can choose which offer you’d like to accept or alternatively, you can negotiate the price with the seller.
Once you have accepted an offer to purchase your property, your agent will be responsible for arranging a date of entry for the new buyers to take ownership of the house or flat.
Completing the sale
After you have accepted an offer on your home, your solicitor will work on the legal process. Once the contract between the buyer and seller (missives) is complete, neither party can withdraw from the sale without receiving a penalty.
You do not need to pay tax on selling a home but if you are buying another property in Scotland then you might need to pay Stamp Duty (Land and Buildings Transaction Tax). Read our LBTT guide to find out more information.
There are a wide range of desirable homes available at Chapelton, including 2, 3, 4, 5 and 6 bedroom homes. Whatever stage you might be at, we are sure that we have a property that is perfect for you. View our new build homes for sale or get in touch to find out more.