1.Valuation
One of the most important factors in selling your property for the fairest price, within the desired timescale, and with the least amount of stress is by obtaining an accurate valuation. An estate agent will utilise their combined knowledge of the local market, property expertise and buyer database to give you an honest and fair appraisal on the expected value of your property and assess how it is placed in the market alongside similar properties, this is based on current levels of supply and demand. This – time sensitive valuation will assist in generating viewing activity and support the level of offers received. An unrealistic asking price can lead to your property going unsold for an extended period, which may in turn cause potential buyers to be cautious of the property.
2.Choosing the right agent
Choosing whether to sell your property privately or with an estate agency, as well as the choice of agency, can be a difficult but crucial decision, with the wrong choice potentially leading to a delayed process, additional costs and unnecessary stress. Selling a property can be a complex and overwhelming task for an individual, such as setting the best price for the property, marketing the property, arranging viewings, negotiating offers and processing the sale through the solicitors. As such, most sellers enlist this responsibility to a trusted estate agent who will act on their behalf in identifying the right buyer, achieving the fairest price in the timeliest fashion. When choosing an agent, it is wise to consider the reputation of the agent and their position in the local market. Other important factors you should look for is the agent’s track record of success for selling similar properties to yours, agency expertise, team knowledge, presentation of their local office, their digital footprint, marketing activity as well as sales progression support.
3.Marketing
It is prudent to enquire as to how an agent plans on marketing your property, this is key to finding the right buyer. As a forward-thinking company MGY is at the forefront of new and effective marketing techniques, adopting technological developments to ensure our vendors have all possible advantages available to them. MGY also utilise the following marketing processes:
• Direct communication with our current buyer database who may be interested in your property.
• Eye catching window displays from your local branch office which benefits from high pedestrian, and road traffic awareness.
• Design led wall displays within your local MGY branch office.
• Bespoke design led; property brochures created in house.
• Professional photography, floor plans and optional HD property tour & drone video productions.
• Promotion on Internet based portals ‘On The Market’ and ‘Rightmove’.
• MGY Website & effective social media marketing.
• Discernible “For Sale” boards.
•Coming Soon: A dedicated magazine guide to your local area written, designed, produced and distributed by MGY.
All of this results in a “tried and tested” marketing campaign that no other independent agent in Southeast Wales can match.
4.Viewings
A Property Viewer should be trained to highlight the unique features of the property and other advantages that will appeal to the prospective buyer, such as pointing out South facing gardens, a property viewer should attend and accompany all viewings. MGY Property Viewers are knowledgeable of the local area as well as adept at answering any queries or concerns the prospective buyer may have about your property. As standard we provide viewer feedback within twenty-four hours in addition to offering home staging advice to maximise property appeal and potential value.
5.Negotiation
Your estate agent will handle negotiations between you and the buyer, offering experienced advice to achieve the best possible price whilst considering the response to the marketing up to that point, interest from other parties and recent comparable sales. On top of the price offered, consideration should be given to the position and flexibility of any potential buyer. Including if they are: paying cash, already in possession of a mortgage agreement, first time buyers and the length of their chain involved, as these details may impact if they can work to your required timescale or not. MGY verifies any potential buyer’s financial position and confirms details of any chain they are in.
6.Accepting an offer
Upon accepting an offer, you will need to instruct either a licensed conveyancer or a solicitor to help. Your conveyancer/solicitor will send the buyer’s conveyancer/solicitor a draft contract setting out the particulars of the sale. At this stage you should inform your conveyancer/solicitor of what fixtures and fitting (if any) are included in the sale, as well as providing documents of any guarantees or certificates for works you have on the property. This is an opportunity for the buyer’s conveyancer/solicitor to raise any enquiries regarding the contract and documents. MGY have a specialist in-house sales progression team, their sole remit is to get your property from sold to completed in the timeliest manner possible. We will stay in regular contact with you throughout this process. MGY will keep you up to date on the buyer’s mortgage application offer, survey dates and outcomes, status of the legal process and where relevant provide updates on the rest of the chain.
7.Exchange of contracts
Exchange of contracts can occur once the buyer’s mortgage offer is received, all responses to enquiries raised are deemed satisfactory and all parties agree a date of completion. Both the buyer and seller then sign the contract with the buyer paying a non-refundable deposit, usually 10% of the purchase price. Once contracts are exchanged the transaction becomes legally binding.
8.Completion
On the day of completion any outstanding monies from the buyer will be transferred to your conveyancer, who will in turn transfer the remaining balance to you once any fees and outstanding mortgage amounts have been deducted. You have then sold your property and are required to move out. Ensure you change/transfer your landline telephone number and internet service, take meter readings, and redirect your post. It is also courteous to leave notes for the new owner explaining how things in the house operate, as well as where to find essentials such as the fuse board and the water inside stop valve.
