How to sell your property in 11 easy steps

By Liberty Insurance Ireland on 27 May 2016
How to sell your property in 11 easy steps

A step-by-step guide to selling your home

Selling a home can be stressful, but it doesn’t have to be this way. Follow these 11 simple steps and you can be sure to get the best price possible with the minimum of fuss.

To find out the market value for your property, you can book a free valuation with an estate agent.

1. PROPERTY VALUATION

To find out the market value for your property, you can book a free valuation with an estate agent. Checking the Irish property price register online is a good reference and don’t be afraid to attend open viewings of similar properties in your area to gauge the market.

2. CHOOSE AN AGENT

Meet with a number of estate agents before you choose one, to ensure that you are getting value. Don’t be swayed by estate agents offering you the world in terms of property valuations. If an agent says they can get you a price that sounds incredibly high, then it’s probably too good to be true.

3. PREPARE YOUR PROPERTY

When preparing your property for sale, be aware that most buyers would like a blank canvas and will have limited imagination when it comes to looking at the ‘potential’ of a property!

First impressions count so make sure your home has ‘kerb appeal’. This means sprucing up the outside as well as the inside

View it as an opportunity to undertake a decluttering exercise, also removing any excess furniture. First impressions count so make sure your home has ‘kerb appeal’. This means sprucing up the outside as well as the inside. If you have a garden, make sure it’s neat and tidy and that your entrance hall is welcoming. It’s also a good idea to ask a friend to give their honest feedback of how your property presents itself from a buyer’s perspective.

You don’t have to spend a lot of money to prepare your home for a sale, but do try to give the impression of space and light throughout your home as much as possible. For more great tips, check out blog.yourbricks.ie.

4. MARKETING YOUR PROPERTY

Over 90% of prospective buyers in Ireland look for property on MyHome.ie and Daft.ie. Traditional estate agents will charge marketing fees on top of their commission and they are likely to charge additional fees for newspaper advertising. Everyone likes to see their property in the paper but you should be certain that it really makes sense for your property before incurring the additional expense.

Photography is extremely important when selling your property so make sure your estate agent provides you with high quality photos.

Be aware that many solicitors charge a percentage of the asking price of the home.

5. CHOOSE A SOLICITOR

The legal formalities around selling your property are called ‘conveyancing’ and it’s important to choose your solicitor early in the process.

Be aware that many solicitors charge a percentage of the asking price of the home.

6. ENERGY RATING CERT (BER)

It is a legal requirement to have a Buildings Energy Rating (BER) certificate for your property when you put it up for sale.

The BER is designed to make the energy performance of a property transparent to potential buyers. This process will involve a BER assessor completing an appraisal of the property. The assessor then submits the results to the Sustainable Energy Ireland (SEI) who then issue a certificate.

7. VIEWINGS

As previously mentioned, make sure to prepare your property for viewings so that it’s presented in the best light. With regards to viewing times, be as flexible and accommodating as possible for your potential buyers.

When buyers start making offers you can either accept one, or stand firm and wait for higher offers.

8. RECEIVE OFFERS & NEGOTIATE

Great, so by now you should have offers coming in!

When buyers start making offers you can either accept one, or stand firm and wait for higher offers. How you handle this will depend on how close to the asking price the offer is, your timeline to sell and your appetite for a longer negotiation.

9. AGREE TO SELL

When you agree to accept a buyer’s offer, the buyer will pay a deposit as a sign of intent. This deposit is refundable if they decide to pull out of the sale before the contract signing.

It’s normal at this point for the buyer to arrange a structural survey of the property. If the buyer is borrowing to fund the purchase then their lending institution will also arrange their own valuation.

10. EXCHANGE OF CONTRACTS

Once everything is in place, your solicitor will ask you to sign unconditional contracts. This is first signed by the buyer and then sent back to your solicitor for counter-signing by you.

The buyer then pays the balance of the 10% deposit.

The sale is formally completed when all the legal documents between buyer and seller have been signed and full ownership has been legally transferred to the buyer.

11. SALE COMPLETION

The sale is formally completed when all the legal documents between buyer and seller have been signed and full ownership has been legally transferred to the buyer.

A suitable completion date will be agreed and arranged by your solicitor and the remainder of the money from the sale will be transferred into your solicitor's account.

Well done – your property has been sold!

YourBricks.ie is a new type of estate agency where you can sell your home from just €799. Get a free valuation here.

And when everything is signed and sealed, the next most important purchase is home insurance. Find out more or get a home insurance quote in minutes.

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