CORMAC SHEEHY, MD, RE/MAX PROFESSIONAL PARTNERS
While it is possible to sell a house privately, most properties are sold with the help of an estate agent.
The estate agent will value your property, arrange any advertising and co-ordinate viewings, as well as being involved in the completion of the sale in conjunction with your solicitor.
Find a solicitor
You will need to have a solicitor in place to sell your property. If you have a mortgage, your solicitor must request your title deeds from your lender. It can take between four and eight weeks for your lender to issue the deeds. To avoid unnecessary delays instruct your solicitor to request the deeds as soon as possible.
Get a Building Energy Rating (BER )
A BER certificate is required if you are advertising a home for sale or rent, or before a new home is occupied for the first time. You will need to have this before working with an estate agent.
Prepare for the sale
Give the estate agent a full list of all contents that will be included in the sale, for example furniture, appliances, blinds, as well as any damage or repairs needed to the property that will not be completed prior to the sale.
Bidding Process
When offers start to come in it can be tempting to accept the highest bid offered, but there are a number of other factors that you should consider.
Has the buyer got mortgage approval?
Has the buyer got their deposit? Does the buyer need to sell an existing property? If you are not dealing with a first-time buyer, they may have to sell their own property before they can buy your property. Ask to see a signed contract for the sale of the other property which should give you some assurance that there will not be any undue delays with the sale going through.
Are they a cash buyer?
Some buyers may be in a position to buy your property with cash. This could mean that the sale could go through relatively quickly.
Sale Agreed
Once you accept an offer, the property is sale agreed and the buyer will need to pay a booking deposit to your estate agent. Booking deposits vary and a booking deposit is refundable up until contracts are signed.
Your estate agent will prepare a document of sale details and send this to both the buyer’s and your solicitor. This document contains details of the price, conditions of the sale, the estimated closing date – the day the house sale will be completed – and the names and addresses of all those involved in the sale.
Closing
Finally, it is time to complete the last steps of the process. You will need to attend your solicitor’s office to sign the transfer deed and other documentation that may be required to complete the sale.
