Mistake #1. Not instructing a conveyancer early enough
By early, we mean before you choose an estate agent and before you begin marketing your property! These days most conveyancing firms work on a “no-sale, no-fee” basis, therefore there is no cost or risk in making your conveyancer the first person you talk to when thinking about selling.
Mistake #2. Get emotionally attached
For many people, the emotional bond they have with their house may be stronger than they first imagined. Try to remain realistic and focus on the transaction as a business deal rather than the memories you’ll be leaving behind.
Mistake #3. Is your asking price too ambitious?
It’s perfectly normal to be tempted to test the market and set your asking price a little higher. This could be a costly mistake as an expensive asking price may mean that you don’t attract the necessary amount of viewings needed to make a sale. The longer this goes on, the longer your house will be on the market creating the assumption that there is something wrong with your house.
Mistake #4. Failing to disclose problems
When selling a property, it is important you disclose any issues with the property and exactly what will be included in the sale price. When selling you will usually be asked to fill in a Property Information Form, which asks for information such as which boundaries you maintain, or whether you’ve had any disputes with the neighbours etc. Failure to make certain things clear may jeopardise the sale later on and you could find yourself liable for providing misleading information.
Mistake #5. Confusing cheap fees with high levels of service
In the property market you should always expect to get what you pay for. When it comes to appointing an estate agent and a conveyancing solicitor you will tend to find that paying a fair price will get you get a good level of service. Paying for a cheap online service may result in an understaffed, under qualified company handling one of the most important transactions of your life.
Mistake #6. Failing to write/update your Will
Making a Will is so important when you move house. With no Will, the law decides who will benefit from your estate and this may not be what you would have wanted. We can help you draft a Will that will control what should happen to your property in the event of your death.
Mistake #7. Not taking time to understand legal jargon
Failing to understand terminology can cause confusion and hold up the selling process. Take time to learn terms such as ‘completion’ and ‘exchange,’ as these are key dates in the selling process and will give you a clearer understanding of what is going on.
Avoid costly mistakes by appointing Peter Robinson & Co. to provide your conveyancing services. Rest assured that we will make the conveyancing process a simple one, and will support you from start to finish.