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A Guide toSelling Your Home

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It requires a great deal of hard work and organisation but it really does pay to speak with the right people from the start. At Oliver Rayns we understand how to maximise the value of your property and to help you achieve the best possible sales price. Not only do we offer free advice to all our clients, we provide you with a service that runs as smoothly as possible.

We are members of The Property Ombudsman, this ensures that we adhere to strict industry codes of practice.

This guide contains a brief on the process of selling your home with Oliver Rayns, we hope your find it useful and informative.

This guide contains...

Market Appraisals

Preparing to sell your property

Maintenance

Presenting your property for viewings

Marketing your property

Viewings

The offer process

Exchange of contracts

Completion

Your home is typically the most valuable asset you will own, and selling it involves some important decisions...

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Market Appraisals

Our property Market Appraisals are carried out by senior members of our sales team. They hold a wealth of knowledge about the local market, which offers you the client, peace of mind that they won’t be overvaluing or undervaluing your property.

Each appraisal is carefully managed with our staff members providing you with recent sales comparables for properties in your area based on research from Rightmove and the governments Land Registry.

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Preparing to sell your property

We have compiled a short list of key areas to be addressed before placing your property on the market.

Paperwork

The following documentation will need to be provided/ filled out before we are able to place your property on the market:

• Agency of Terms of Engagement – This is the contract between yourselves and Oliver Rayns.

• Vendor Property Information Form – This form identifies important information in relation to your property. It is broken down into three main sections: Basic Information, Planning/ Statutory and Additional Information. Should you need any assistance in completing this document please contact our office for assistance

• An Energy Performance Certification (EPC).

• In order to comply with Money Laundering regulations, we are required to hold ID verification on record for all of our clients.

Solicitor

We advise you that you instruct a solicitor when you first put the property on the market. This is so that when you’re ready to accept an offer, the solicitors are already in possession of your title deeds and can act promptly in preparing the draft contract for the purchaser’s solicitor. Failing to instruct can lead to delays in the sale of your home which can be frustrating if you wish to have a fast exchange on contracts.

We have a number of highly regarded local solicitors that we are able to recommend should you require.

Offering you the client, peace of mind

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Maintenance

A well maintained home not only benefits the potential for a higher asking price, it can make a big difference to a surveyor’s report. The following checklist will help to ensure that your property passes the survey, and decreases the risk of having to reduce your asking price.

Roof

• Replace any damaged or slipped tiles.

• Rafters – Check inside your roof space that the timbers have not detached through rot.

• Check the “flashings” – In old properties these are made from cement and sand. If these happened to have cracked, they should be repaired or replaced.

• Flat roofs – Typically covered in felt, these should be checked to ensure that the felt has not split at the junction between walls and eaves. These can be easily repaired with Asphalt by reheating if it’s cracked or blistered.

Gutters

• Hopper heads (top of the drainpipes) can become easily clogged with leaves and other debris, it’s worthwhile checking as overflowing gutters can lead to damp on brickwork.

• If you happen to have cast-iron drainpipes it’s worth inspecting for any cracking, this can normally be identified with splash marks on the base of the wall or dark patches on the brickwork.

Doors and Windows

• Modern timber doors and windows are typically made from “soft wood” and are more prone to rotting around the base of the frame. It is advised that you have these repainted regularly (every three to five years).

• uPVC double glazed doors and windows are known to “fog up or mist” this is typically down to the gases inside the windows heating up and expanding. When this occurs it can give a window an unsightly appearance and it is worthwhile contacting a uPVC company for a quote to replace the blown panes.

Wiring

• Electrical wiring does wear out; it is worthwhile having an electrical safety test carried out on your property every five years.

Plumbing

• Central heating and boilers should be serviced on an annual basis. Providing a prospective purchaser with a service record can be beneficial.

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Movement

• Cracks – Often diagonal ones, can appear in the plasterwork or brickwork in your homes, a common cause of this can be trees located close to the house. Be aware that removing the tree may not always resolve the problem.

• Subsidence – Always look for cracks close to door and window openings.

• Cracks – Cracks will always be found by a surveyor, these can either be located on the outside / inside of the building or both. Should cracks appear it is worthwhile taking advice from a building surveyor or structural engineer to find the cause of the issue. Please note that not all cracks are serious but having any documentary evidence to provide to a prospective purchaser can assist further down the line.

Damp

• Penetrating damp – Common signs are damp patches and staining where rainwater has found a way into the structure of the building.

• Rising damp – Found at low level typically skirting boards or damp at the base of walls. This is caused by a break in the damp proof course, allowing moisture from the ground to be drawn up through the break. The issue can be solved with a new damp proof course.

• Condensation – Caused by a lack of ventilation and is often found in rooms with high moisture e.g. bathrooms.

Drains

• Blockages – Ensure your drains are regularly checked for blockages. Cracks can occur which can allow roots to grow, eventually blocking the drain.

Ensuring that your property passes the survey, and decreases the risk of having to reduce your asking price

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Decoration / Decluttering

Oliver Rayns has worked with a Leicestershire based Interior designer, so before you pick up a paintbrush please take the opportunity to browse our Refurbishment and Interior Services guide. It will be able to offer you a good, clear guide on where to invest in your property to provide you with the maximum return. While redecoration may be a good idea in some instance, it isn’t always profitable.

In order to present your property at its best, it is a good idea to tidy and perhaps remove some of your possessions to give your house a spacious and airy feel.

First impressions

A clean front door and a litter free entrance gives an excellent first impression. Communal areas within the property such as lobbies should be cleared of junk mail and vacuumed regularly.

• Lighting – Natural light is a huge selling point to a lot of prospective buyers, so clean windows and drawn back curtains are essential in maximising natural light. In the winter months natural lighting is equally important – consider additional lamps to add a warm and cosy feel to a room. Please ensure all lightbulbs are working, there is nothing more annoying than a lovely feature light when half the bulbs are blown.

• Temperature – so prospective buyers feel the warmth in their feet while viewing. Open windows in the summer for fresh air and considering switching your central heating on during the day in the winter. If you happen to have underfloor heating, it’s always a nice touch to leave it on so perspective buyers feel the warmth while viewing.

• Freshness – Reed diffusers, fresh flowers or scented candles provide prospective buyers with a feeling of a loved home and subtle fragrances are always remembered.

• Decoration / Decluttering – Regular cleaning is essential. It takes very little time for dust to settle on shelves, window sills and lamp shades which could easily put off potential buyers.

• Garden – Gardens, both front and back, should be kept tidy and attractive, with well mown lawns, trimmed hedges and colour emphasised where possible.

Presenting your property for viewings

We suggest you consider the following points when viewings are booked for prospective buyers.

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Marketing your property

At Oliver Rayns, we have highly experienced sales agents who understand the value of applying tailored marketing strategies on a sale by sale basis. We use cutting edge marketing techniques, alongside more traditional methods, helping your property achieve its potential.

Photography and floor plans

Photography is one of the fundamental elements of estate agencies as it is typically the first representation of your home a prospective buyer will interact with. Our sales team are all trained to capture the correct property features, highlighting the small details that the untrained eye would glance over. We also construct accurate and detailed floorplans.

Brochures

We combine well-written property descriptions with photography to produce clear and stylish brochures, ensuring that potential buyers have everything they need in one place.

Digital advertising

The internet has revolutionised the Estate Agency industry, and we are well aware that 85% of buyers start their property search online. We therefore use a number of digital marketing techniques to ensure your property is seen by the widest possible audience. All our properties are listed on our modern website (www.oliverrayns.com) as well as leading property search portal Rightmove.

Facebook, Instagram and Twitter are prevailing forces, and we at Oliver Rayns understand that audiences and otential buyers are using social media more than ever, so we use a variety of platforms and techniques to highlight your home to a countless number of people.

Print publication

There is a strong readership of local publications, so we at Oliver Rayns ensure that we actively advertise in a variety of print media from the Leicester Mercury to luxury magazines such as Exclusive Magazine, The Beacon and other well-known brands.

Our network

We maintain a central database of potential purchasers, so we can instantly call and email matches to your property. Our database is constantly updated and reviewed, ensuring that the right people are being sent your property. This provides you with reassurances that your property is being viewed by active, financially qualified purchasers.

“For Sale boards”

The agent’s boards are a very effective marketing tool for vendors. A large number of potential purchasers will register and call as a direct result of seeing one of our boards. Your home might be someone’s perfect house; they’ve always spotted it on their commute but are not actively searching for a house – without that board there is a good chance they may never have known it’s on the market – all it takes is one person. We would always recommend erecting one, where possible.

The office

Our modern office is located in a highly popular location, with many enquires coming from potential buyers when they pass by. We therefore regularly updated our window displays with the latest listings.

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Viewings

The most successful vendors ensure their property is looking its best throughout the viewing process. While we understand that viewings can become burdensome it is important that restrictions on viewings are avoided wherever possible. A potential buyer may have many properties to look at and if they cannot get access to yours at a time that suites them, you may miss out on that sale.

At Oliver Rayns we offer all our clients accompanied viewings, this takes the hassle away from you, and leaves our agents to sell your home. Once a viewing has been carried out we will provide you with an initial viewing feedback and detailed feedback when available.

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The offer process

Receiving an offer on your property is an exciting moment. At this point the help and support from your Oliver Rayns agent will be critical. We have the experience and knowledge to guide and advice you on the best course of action to take.

We are bound by law to disclose all offers as soon as reasonably possible (as well as confirming these in writing).

Closing a sale is often a difficult process, this is where we can provide you with advice and support during the negotiations, helping to achieve a successful outcome.

Accepting an offer

Once we have received the prospective buyer’s financial eligibility (whether that be proof of funds or mortgage Approval in Principle) we will issue all parties the Memorandum of Sale. This confirms to you, your buyer and both solicitors, the terms of the sale and includes special conditions such as time frames or additional content to be included.

Ensure that the Memorandum of Sale is checked through carefully, although it is not legally binding, mistakes may lead to delays in the sale process.

Your solicitors will prepare and send a draft contract to the buyer’s solicitor who will proceed with the conveyancing process. This typically involves surveyors visiting your property.

Occasionally negotiations may occur during this period and we will be available to assist throughout the whole process. This provides you with the peace of mind that each step of the sale of your property is handled and cared for by Oliver Rayns.

Closing a sale is often a difficult process, this is where we can provide you with advice and support during the negotiations

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Exchange of contracts

Prior to exchanging contracts, both ourselves and your solicitor will speak on a number of points and will be agreed between both solicitors.

Prior to exchange

• Enquires – These are questions asked by the buyer’s solicitor regarding your property.

• Lease – If your property is a leasehold and/ or has a share of the freehold a number of specific questions will be raised. Typically, your buildings management company will hold a lease pack which your solicitor will require. This can take several weeks to be produced so it is worth bearing in mind before placing your property on the market.

• Assigning the lease – Sometimes the purchasers need specific permissions from the freeholders to allow the lease to be transferred.

• Title – The purchaser’s solicitor will have checked that you have clean title to the ownership of your property.

• Local searches – These will have been received back and checked by the purchaser’s solicitors.

• Fixtures and Fittings – Your solicitor will ask that you complete a fixtures and fittings form, this details what will be left behind in the property (i.e. wall lights).

• Mortgage offer – The buyer will have received their mortgage offer from their lender after all surveys and valuations have been carried out.

At exchange

Once contracts have been signed you will be legally committed to the sale. At this point the buyer will pay a deposit of usually 10% into your solicitors account, although this figure is variable. The funds are normally transferred via TT (Telegraphic Transfer).

A date will be set between exchange of contracts and completion, although sometimes this is with immediate effect.

Between exchange and completion

• Buildings insurance – Both you and the purchasers (because they now have a vested interested) ensure that the buildings insurance is valid.

• Removals – You will need to ensure that your contents are ready to be packed up and the house is empty by completion.

• Utlilties – These companies will need to be informed of the completion date and final meter readings taken on the day of completion.

• Council Tax – The local authority will need to be notified of the completion date so that your liability will be severed.

• Post – Ideally you will set up a mail redirect with the Royal Mail so all post is sent onto your new address.

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Completion

This is where you will hand over the keys to your property.

The buyer’s solicitor will confirm that completion funds have been sent and your solicitor will confirm receipt. If you are involved in a chain it can sometimes take until mid-afternoon for your monies to clear.

Once we have received a call from your solicitor to confirm completion has taken place, we will speak with the purchasers to confirm we are able to realise the keys.

Congratulations, you will have now sold your property.

We hope this guide has been informative and useful. Should you wish to book a market appraisal or have any queries please contact us on 01162 960 940.

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01162 960 940info@oliverrayns.comwww.oliverrayns.com

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Oliver Rayns Ltd115 Clarendon Park RoadClarendon ParkLeicester LE2 3AH

Company No. 10608412VAT No. 261 5432 21