Frequently asked questions
Selling your home is split into two very distinctive stages, we call them pre and post sale, both areas require different skills.
David Phillip is an expert in both stages (remember many online agents take the sale to listing stage only, and after that it is over to you!)
How much is my property worth?
How much will it cost to sell my property?
What do I need to do to get my finances in order?
The David Phillip website has a mortgage calculation tool that can tell you approximately how much your payments will be
David Phillip would recommend seeing a mortgage broker, and can recommend someone local to do this, when making an offer for a property it is helpful to convince the seller via the Estate Agent that any offer you make is a serious one and financially supported by a bank
How long will it take to buy and sell my home?
What are the benefits of using an independent agent?
Independent Estate agents have a greater local knowledge, which is key to selling, they are likely to have developed a good reputation in the area, and as well as trust, they also give you more time and focus. David Phillip has over 30 years selling property in North and West Yorkshire
Some larger Estate Agents, you may often be dealing with a call centre and different people throughout the process. At David Phillip the only focus is selling your property, Lesa Brown and David Phillip will come to view your home, will complete the viewings and assign you a skilled negotiator who will be with you every step of the way until your property is sold and you move out – it is very much a tailored, ‘hand holding’ service acting with your best interests at heart.
Some larger Estate Agents tend to be more automated which can be a benefit, at David Phillip, you can be sure that you are dealing with a company that has invested in the very best technology, is agile but also has a very human touch, plus, you are dealing with the name above the door, giving you over 30 years’ experience selling homes in your local area – plus our reputation and livlihood depends on the service we provide.
Are there any additional marketing costs?
Depending on the package you choose, this may entitle you to extra advertising, and because David Phillip only operates in a very local area they can tailor the advertising to suit the profile of your property and to the best target audience
Do I need an EPC?
Do I need to redecorate before I put my property on the market?
Who will conduct viewings on my property and when will they occur?
By using an estate agent with longer opening hours then this will minimise any unaccompanied viewings. David Phillip has a Media Centre on Leeds Road, here potential buyers can view your property in relaxing surroundings – it is a really immersive experience, and because they encourage the use of lifestyle videos using the most advanced Matterport technology, then people feel as though they are already walking around your home, so…. once the actual viewing takes place you can be sure that the potential buyer is keen to progress – this also reduces ‘time –wasting’ appointments.
If I accept an offer, will my property still be viewed?
Do I have to pay stamp duty?
This is a government tax on house purchases, details of which can be found at www.hmrc.gov.uk/so. Payments will be arranged by solicitors/conveyancers – this is due on completion and is paid by the person buying your property.
What is conveyancing?
Once an offer has been accepted by the vendor, there are a number of post sale processes that need to take place quickly and which often overlap. Using an experienced Estate Agent who offers the post-sale process too (ie one that doesn’t just list your property) covers everything that legally needs to happen to transfer your home to the buyer – You will need a solicitor to do this – David Phillip can recommend a local solicitor who offers a fixed price on a no sale no fee basis.
What are searches?
As part of the conveyancing process your buyer’s solicitors will undertake searches from Local Authority and Land Registry – they will be checking for planning history, any potential road developments (and draining and mining around the property if required). Using a local solicitor or conveyancer who has local market knowledge can speed up the process of this.
When do I sign the contract?
Until you exchange contracts then neither side has any legal obligation to buy or sell the property. Both the buyer and the seller sign a contract. The buyer’s solicitor will draft a contract once a sale has been agreed and the following are in place
- You have been offered a mortgage in writing and have funding for the mortgage deposit
- You have agreed on an offer and what fixtures and fittings are included
- The solicitor has completed all the relevant searches
You have agreed a date of completion for the sale.
How is the completion date chosen?
The buyer’s solicitor will request the mortgage from the buyer’s lender when both contracts have been signed. Once the funds have been released then the solicitors will agree a completion date after consultation with both parties.
David Phillip aim to complete as quickly as possible, their post sales team will handle any tricky elements of a chain and ensure any complex problems are dealt with efficiently.
Where are my title deeds?
As part of the conveyancing process your title deeds will need to be transferred to your buyer. These give proof that you own the property – your solicitor will obtain these from your mortgage lender or where they have been deposited.
What do I have to leave in the property?
As part of the sale negotiation process you may agree to leave some of the furniture as part of fixture and fittings, other than that you are not required to leave anything
Do I have to pay Capital gains tax?
If the property is not your main home, then you may be required to pay capital gains tax. If the property is your main home then you won’t pay Capital gains tax as long as you satisfy certain conditions.
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