SELLING YOUR PROPERTY

ANSWERING YOUR QUESTIONS

Selling a property can be fraught with stress. But it doesn’t have to be. At Next Step Estates we are here to alleviate those worries that keep you awake at night. Here are the answers to some questions we often get asked:

1. If I have a consultation with you, will I be tied into a contract?
   Absolutely not! A consultation is an opportunity to get an appraisal (valuation) from us and get to know us and what we can offer you. There are no strings attached.

2. What does “no upfront costs” mean?
   If you instruct Next Step Estates you will not have to pay anything to us until your property is sold. This includes costs for marketing (unless it is something extraordinary), floorplans and our time spent doing viewings and negotiating offers. One exception to this is the price of an Energy Performance Certificate. This is a relatively low cost and is paid by you to the Energy Assessor directly.

3. What is an EPC?
   EPC stands for “Energy Performance Certificate” and is needed to market your property. It shows a buyer your property’s energy usage and typical energy costs. It also recommends how to reduce usage and save money. It gives a rating from most efficient (A) to least efficient (G) and is valid for 10 years. A Domestic Energy Assessor undertakes the inspection and produces the EPC. These assessors can be easily found online but we are equally happy to help.

4. Can you help me stage my property?
   We are happy to advise you on anything that will show your property in its best light. Prior to photography we will send you a list of suggestions to make your property look the best it can. If you would like to have your property professionally “staged” then we can arrange this for you too. Professional staging would incur a cost. 

5. What if you don’t manage to sell my property?
   You will not incur any costs if we do not sell your property. No sale, no fee.

6. What does “no contract tie-in” mean?
   It is normal for agencies to tie their clients into “fixed term contracts”. These are usually around 2-3 months but can sometimes be up to 6 months. If you are to sell to someone during this period, who was not introduced to your property from your contracted agency, then you will still be obligated to pay the agency’s fee. Next Step Estates is unusual in that we do not tie our clients into such contracts. That is how confident we are of making a sale for you.

7. If you are my agent and I sell to someone you haven’t introduced, do I have to pay your fee?
   No. This is one of the many things that sets Next Step apart from other agencies. Please see point 6 above for more information. 

8. What if I decide to instruct another agency?
   You are well within your rights to do so. We welcome a bit of healthy competition! We would however point out that our fees are more if we are not the “sole agency”. If we are successful in selling then you will pay higher “joint agency” fees. It is also worth noting that sometimes multiple listings of the same property with different agencies can seem desperate to buyers.

9. What if I accept an offer and then change my mind?
   This depends on when in the process you change your mind. If it is before exchange of contracts but after you have instructed a solicitor then you might need to pay your solicitor’s fee for the work they have done so far. We also advise that you would be best to have a very good reason. Sometimes your first offer can be your best offer.

10. What if I accept an offer and then receive a better offer?
    This very much depends on the calibre of the second offer. How much more is the second offer? Is it a cash offer (although sometimes beware of a high cash offer)? Does the purchaser seem reliable and committed? In theory you are within your rights to pull your first offer but sometimes a “bird in the hand” is best. In some situations two offers can go to “sealed bids” which can be a very good thing. We are experts in advising you on all of this should this happen. 

11. What does “cash offer” mean?
    This means that the buyer does not need to get a mortgage to buy your property. Essentially it means they have the money in the bank. This can be a real positive as sometimes the mortgage approval process can be long and complicated for some buyers. However in most cases buyers will have had their mortgage preapproved and if you are confident that there are no issues with your property then things should run smoothly. Also, sometimes it is best to be aware of a high cash offer. Savvy investors sometimes have their high cash offers accepted over other offers and then spend the offer period (prior to exchange of contracts) looking for reasons to drop the price.

12. What if the buyer decides to withdraw their offer?
    This can happen sometimes for a variety of reasons. Next Step Estates prides itself on finding you reliable buyers who are committed to their offers. If they are looking like they might be getting “cold feet” then we are skilled at reassuring them. Ultimately such decisions are the prerogative of the buyer and must be respected.

13. How long will it take to sell my house?
    This is a difficult question to answer as it depends on the facts of your sale. From when you accept your offer we usually advise a minimum of three months to completion (when the buyer gets the keys).