5 Minute Read

Selling your property is a major decision, often accompanied by both excitement and uncertainty. Whether you’re moving to a new area, seeking a larger space or downsizing, the process requires careful planning.

To help you prepare, here are six things to think about before putting your home on the market.

1. Conveyancing: The legal process of selling your home

Once you have decided to sell your home it is important to appoint your legal team right away. An experienced conveyancing team plays a critical role, managing everything from drafting contracts to ensuring the property’s title is clean and legally transferable.

At Askews, we handle the full conveyancing process, guiding you through potential complexities like title restrictions, leaseholds or shared ownership arrangements. By working with our team, you can ensure the sale progresses smoothly, avoiding unnecessary delays.

Visit our Conveyancing Services page for more information or Contact Us directly to discuss your property sale.

2. The tax implications of selling your property

When selling a property in England and Wales, you should make yourself aware of your potential tax liabilities. If the property is your main residence, you will usually be exempt from paying Capital Gains Tax (CGT) under Private Residence Relief. However, if the property is a second home or a buy-to-let investment, CGT may apply to any profit you make on the sale.

You can learn more at GOV.UK: Tax when you sell property

Additionally, while Stamp Duty Land Tax (SDLT) is typically paid by the buyer, it’s worth noting that changes in property prices or government relief schemes may affect how much buyers are willing to pay.

You can learn more at GOV.UK: SDLT

Although SDLT is a common conveyancing disbursement, we are not tax advisors and cannot offer tax advice. It’s also important to remember that property taxes are liable to change.

We recommend that you consult a professional tax adviser for advice tailored to your specific circumstances.

3. Preparing your home for sale

Ensuring your property is in its best possible condition is essential to attracting buyers and securing the best price. Simple steps such as decluttering, repainting and addressing any minor repairs can make a huge difference. Presentation matters, and in many cases, a well-staged home can make it easier for potential buyers to imagine themselves living there.

In England and Wales, you’re also required to have an Energy Performance Certificate (EPC) before marketing your home. The EPC rates your home’s energy efficiency and a higher rating can be an attractive selling point. If your EPC is on the lower side, you may want to consider energy-saving upgrades to improve the rating before selling.

4. Understanding the local market

Property values can vary considerably across Teesside, with market trends in towns such as Middlesbrough, Stockton-on-Tees, Redcar and Hartlepool differing significantly.

Being familiar with the current state of the property market is essential when setting a realistic asking price and managing expectations on how quickly your home will sell.

Consulting with a local estate agent can help you get a clearer picture of the market in your area. They can provide insight into how long properties typically stay on the market and what comparable homes are selling for.

At Askews, we collaborate with local agents to give you both the legal and practical advice you need to succeed in a competitive market.

5. Managing the property chain

One of the most critical and often stressful elements of selling your home is managing the property chain. The chain refers to the sequence of buyers and sellers linked by their property transactions. Delays in the chain, whether caused by another buyer’s financing issues or problems with a seller’s property, can impact your sale.

If you’re buying and selling simultaneously, you’ll need to plan carefully to avoid potential pitfalls in the chain. Having a solid contingency plan, such as temporary accommodation, will help you navigate any unexpected delays.

At Askews, we work diligently with our clients and estate agents to keep the chain moving and minimise disruption.

As an established firm with several office locations and stringent data protection policies in place, Askews is able to represent both buyer and seller in some instances. This is particularly beneficial when the transaction involves friends or family who instruct us at the same time and allows for the most seamless transactions possible.

6. Managing your future plans and finances

Before selling your property, it’s important to have a clear understanding of your future plans and how the sale fits into your overall financial picture. Are you looking to buy another property immediately, or will you be renting for a period? If you’re purchasing a new home, securing a mortgage in principle early on can help streamline the buying process and prevent delays.

We regularly advise clients on managing their future plans and finances. Contact Us if you would like to speak with our private client team or visit Trusts to learn more about this service.

It’s also wise to budget for the costs associated with selling a property, including legal fees, estate agent fees and removal costs.

Askews is your trusted conveyancing solicitors in Teesside

Selling your property can be daunting, but with the right legal support, the process can be smooth and efficient.

Our expert team of conveyancing solicitors is here to guide you from start to finish, ensuring your sale goes off without a hitch. Whether you’re selling in Teesside or the wider North East, we’re here to provide trusted legal advice every step of the way.

For more information, visit our Conveyancing Services page or Contact Us to book a consultation.

This content is for informational purposes and is not intended as advice of any kind.