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Information For Vendors

 

Davis Brown is a firm of Chartered Surveyors and Estate Agents in W1.  We are regulated by the Royal Institute of Chartered Surveyors and so when you sell your property with us, you can take advantage of our professional expertise.  Established in 1901, we believe that we have the credentials to achieve the best results for you.

To give you an insight into what selling a property entails, we have compiled a guide which will take you through the whole process from valuation to completion. 

 

Arrange a valuation & appoint an agent                                               

First things first, book in a few different valuations with some local estate agents.  Our residential team provide sales and lettings valuations free of charge, and we can arrange to meet at a time that is convenient for you.

 

Preparing your property

EPC’s

It is a legal requirement to have an Energy Performance Certificate prepared for marketing purposes and Davis Brown can organise this for you.   You may have one if you have previously rented your flat.  If you are unsure, please contact our residential department who are members of the Association of Residential Lettings Agents (ARLA) for information and advice.

 

Dress to sell

Presentation is key and it will really help securing a successful sale.   We have set out below some useful tips and recommendations:

  • De-clutter - remove personal items to create a sense of space 
  • Re-decorate if possible – buyers prefer neutral finishes
  • Professionally clean carpets
  • Provide good lighting – use bright bulbs and add lamps to lighten up any dark areas
  • Soft furnishings. Use bold colours for cushions, rugs, lamps etc.
  • Create as much storage space as possible
  • Take care of any external maintenance including gardens/guttering

We can advise on all the necessary steps prior to letting your property, including furnishing, redecorating, refurbishing. Davis Brown Estate Agents Fitzrovia has an in-house project management team who can tailor the project to suit your individual needs.

 

Prepare your paperwork and appoint a solicitor

Ensure your paperwork is in order to avoid delays when an offer is accepted. Finding a good and reliable solicitor is important to ensure the sale is completed efficiently. Ask family and friends for their recommendations if you are unsure.  Davis Brown is happy to provide you with further guidance.

 

Marketing & Viewings

We will propose a marketing plan tailor made to your property.   As estate agents in W1, Davis Brown has access to all the major property portals such as OnTheMarket.com and Zoopla, as well as our own bespoke website:  www.davis-brown.co.uk.  We will prepare a set of colour property details, individual designed to the property.  As an independent estate agency in Fitzrovia, we also make use of the neighbouring community, advertising within local businesses and publications to maximise exposure.

It is important that your property gets maximum viewing exposure so viewing times should be as flexible as possible.  Please let us know in advance if the property is not accessible so we can inform potential purchasers.   All viewings are accompanied by a member of our staff.    

 

Accepting an Offer

Usually the first offer is submitted verbally and followed up in writing. An offer is not legally binding until exchange of contracts. 

If the offer is acceptable to you, we will prepare a Memorandum of Sale which is sent to you and your solicitor and the buyer and their solicitors.   The Memorandum of Sale will state the agreed price and any conditions of the sale.

Your solicitor will prepare a draft contract which will be sent to the buyer’s solicitors with other relevant documentation; for example the lease, details of the service charge.  The buyer’s solicitor will also apply for searches with the local authority.   If the buyer requires a mortgage, you should be prepared for the bank’s valuation surveyor to inspect the property.  The buyer may also wish to employ a structural surveyor.  

 

Exchange of Contracts

An exchange of contracts will take place once the buyer and seller have agreed on the contract and the buyer’s solicitors have received satisfactory responses to their enquires.  If the buyer requires a mortgage, they will need to ensure they have a mortgage offer in place.   The contract will be signed by both parties and the deposit monies, which are usually 10% of the purchase price, will be transferred to your solicitor.   A completion date is then set which is mutually agreed by all parties.

The contract becomes legally binding and neither party can withdraw without paying a substantial amount in compensation.

 

Organising your move

There is usually a three to four week period between exchange and completion so it is time to start packing up and re-confirm details of your move with the removal company.

 

Completion

Completion will take place when the remaining monies (usually 90% of the property price) are transferred from the buyer’s solicitor to your solicitor and vacant possession is taken.   Your solicitor will call you to confirm that completion has taken place and the keys will be released to the new owner!

 

Please contact a memeber of our Resiential Team on 020 7637 1066. 

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