London
London
Dubai
currency
GBP
AED
EUR
USD
sqf
sqf
SQM

  • Learn About the UK House Selling Process Timeline

Property Type
  • All
  • Apartment
  • Commercial
  • House
  • Penthouse
Bedrooms
  • All
  • Studio
  • 1 Bedroom
  • 2 Bedrooms
  • 3 Bedrooms
  • 4 Bedrooms
  • 5+ Bedrooms
Price Range
Minimum:
GBP
  • 400 K
  • 500 K
  • 600 K
  • 700 K
  • 800 K
  • 900 K
  • 1 M
  • 1.5 M
  • 2 M
  • 2.5 M
  • 3 M
  • 3.5 M
  • 4 M
  • 4.5 M
  • 5 M
  • 5.5 M
  • 6 M
  • 6.5 M
  • 7 M
  • 7.5 M
  • 8 M
  • 8.5 M
  • 400
  • 500
  • 600
  • 700
  • 800
  • 900
  • 1 K
  • 1.2 K
  • 1.4 K
  • 1.6 K
  • 1.8 K
Maximum:
GBP
  • 400 K
  • 500 K
  • 600 K
  • 700 K
  • 800 K
  • 900 K
  • 1 M
  • 1.5 M
  • 2 M
  • 2.5 M
  • 3 M
  • 3.5 M
  • 4 M
  • 4.5 M
  • 5 M
  • 5.5 M
  • 6 M
  • 6.5 M
  • 7 M
  • 7.5 M
  • 8 M
  • 8.5 M
  • 400
  • 500
  • 600
  • 700
  • 800
  • 900
  • 1 K
  • 1.2 K
  • 1.4 K
  • 1.6 K
  • 1.8 K
GBP
  • 400 K
  • 500 K
  • 600 K
  • 700 K
  • 800 K
  • 900 K
  • 1 M
  • 1.5 M
  • 2 M
  • 2.5 M
  • 3 M
  • 3.5 M
  • 4 M
  • 4.5 M
  • 5 M
  • 5.5 M
  • 6 M
  • 6.5 M
  • 7 M
  • 7.5 M
  • 8 M
  • 8.5 M
  • 400
  • 500
  • 600
  • 700
  • 800
  • 900
  • 1 K
  • 1.2 K
  • 1.4 K
  • 1.6 K
  • 1.8 K
To
GBP
  • 400 K
  • 500 K
  • 600 K
  • 700 K
  • 800 K
  • 900 K
  • 1 M
  • 1.5 M
  • 2 M
  • 2.5 M
  • 3 M
  • 3.5 M
  • 4 M
  • 4.5 M
  • 5 M
  • 5.5 M
  • 6 M
  • 6.5 M
  • 7 M
  • 7.5 M
  • 8 M
  • 8.5 M
  • 400
  • 500
  • 600
  • 700
  • 800
  • 900
  • 1 K
  • 1.2 K
  • 1.4 K
  • 1.6 K
  • 1.8 K
Dated:
Jun 02, 2023
Read Time:
Topic:
Development, House Prices

Learn About the UK House Selling Process Timeline

According to a recent survey, 1.1 million homes were recently sold in the UK. But what the survey did not mention is the UK house-selling process. Placing a house on the market requires making timely decisions that can save you a lot of money. Here is your complete guide to selling the house easily.

What is the UK house-selling process?

Step 1: Deciding on finances

The first step in the UK house-selling process is identifying the finances. If you are switching policies, the seller may need to browse the mortgage documents or talk to the lender. In addition, if the house owner is relocating to an expensive property, they can re-mortgage the deal too. Unfortunately, the calculations are estimates. Therefore, stay organised for the future.

Step 2: Will the house owner rent or buy?

The house owner must consider their future when the house sale is complete. Renting reduces the stress of buying a new home. On the other hand, it increases expenses too. It is an excellent motivator to move on with the process. Therefore, do not rent if you have discovered your ideal new home, as you might lose it to a high bidder.

Step 3: Hire an agency

You can sell your home yourself. However, a real estate agent is an expert in the UK house-selling process. They identify the complications. Furthermore, they are professionals at resolving matters. The seller is encouraged to browse and interview different agencies to discover the best fit. A real estate agent at TRPE will sell the house expertly.

Step 4: Attain Energy Performance Certificate

Energy Performance Certificate ranks the property regarding energy consumption efficiency. The certificate is valid for a decade. It mentions the property’s energy consumption and recommends ways to reduce wastage. Sellers must provide EPC to the buyer. Otherwise, the sale is invalid. If the property does not have an Energy Performance Certificate, the owner must hire an assessor to produce the relevant documentation.

Step 5: Figuring the selling price

Deciding on the house selling price is one of the most annoying steps in the UK house selling process. The seller wants to sell their home for maximum value. However, the sale will not happen if the asking price exceeds the market value. Therefore, the price must match the housing market to attract buyers. The price will likely drop when the buyers negotiate, so bear that in mind too.

Step 6: House Preparation

Here are a few ways to make the house look presentable for the potential buyer:

  1. Declutter the property of unwanted possessions to make the house look spacious. You can rent a storage facility or sell the items.
  2. Repaint where the walls need a little touch-up. Do not hire a professional, as that will increase expenses. Renovating walls will add personality to the property.
  3. Cleaning the driveway and weeding the garden are excellent ideas to make the house look attractive. The owner can also clean the windows or apply a fresh coat to the front door.

Step 7: Decide on a conveyancing solicitor

A solicitor will draft and supervise the legal paperwork related to the UK house-selling process. As a result, the sales process is completed sooner than expected. However, you must hire a conveyancing solicitor before the house goes on the market. You can ask for references to ensure you work with the best legal professional.

Step 8: Answering questionnaires

The next process in house selling involves answering detailed questions for record-keeping purposes. The solicitor will provide the following to the homeowner:

  1. TA6 includes information about the building, tax, utilities, and contact. It will also mention guidelines for conflicts and complaints.
  2. Leasehold properties require TA7, and commonhold properties are mentioned in TA9.
  3. Lastly, TA13 mentions the final paperwork, completion of the sale, and mortgage details. The seller must answer truthfully, or they might lose the buyer’s confidence.

Step 9: Accepting the offer

The buyers will now present different bids for the house. Some are less than five to ten per cent of the market value. Therefore, the seller must remain patient. In other words, do not reject or accept an offer immediately.

Step 10: Draft Contract

The draft contract is the first legal document the solicitor creates. It will mention the initial deposit, price, and other details. The document also mentions mortgages and environmental harms. The seller is sent a copy for confirmation.

Step 11: Exchanging Contracts

Exchanging contracts means the sale is legally binding. The buyer or seller will face penalties and fines if they do not comply. However, the probability of that happening is very little as parties are usually relieved that the legalities are concluding.

Step 12: The sale is completed

After the contracts are signed, the seller will move out of the home. At the same time, the buyers receive the property keys. The solicitor will complete the following requirements before transferring the money to the seller’s solicitor:

  1. Ask for outstanding dues
  2. Attain a Redemption Certificate
  3. Ensure all contractual obligations are fulfilled
  4. Draft completion statements to settle payments.

Let’s discuss the house-selling process timeline in the UK

Hiring an estate agent to sell the house takes several days to weeks. Meanwhile, the seller will interview and browse different agencies. High-end, traditional, and online agents are some of the options.

Listing and marketing the property in the house-selling process timeline in the UK takes one to two weeks. Some agencies also use social media to maximise exposure and attract buyers for viewings.

After the buyer and seller are pleased with the offer, the solicitor will figure out the legal details. The procedure can take nine weeks. The buyer may hire a surveyor to renegotiate the price according to marketing findings.

Lastly, the house-selling process timeline in the UK for exchanging contracts is two weeks. As a result, the entire house-selling procedure can take 12 to 27 weeks. However, the timeline can extend or shrink according to the price, agent, market, and other factors.

Hire TRPE today

TRPE will save time and money throughout the house-selling process timeline in the UK. We have years of experience in dealing with international and local clients. TRPE is reachable via phone and email, so contact our experts today. Visit https://trpe.co.uk/ to learn more about services and core values.

Not available