Seven Steps to Successfully Selling Your Family Home

Welcome back to our third post in this series of six.

Here we are listing seven essential steps to selling your family home.

Step 1: Think About It

Before placing your home on the market, consider why you are selling and choose the best timing. Whether you're relocating for work, needing a larger space due to family growth, or even downsizing, it's a big decision. Talk it through as a family and weigh up the pros and cons together.

Step 2: Money, Money, Money

If you've decided to sell up and move on, set a realistic budget for buying your next home and review your financial situation in detail. This includes understanding your remaining mortgage, potential capital gains tax implications, and estimating the costs of selling your home. Factor in estate agent fees, conveyancing expenses, and moving costs.

Step 3: Select the Right Estate Agent

A crucial next step is choosing the right estate agent to work on your behalf. Because it can make all the difference between a horror story and a happy ever after. Talk to three agents and select one who gives you an evidence-based valuation, can show a track record of selling family homes, and you feel you can have a rapport with them.

Step 4: Prepare Your Home for Sale

Get 'For Sale' ready by decluttering, deep cleaning, making necessary repairs, and learning to think like a buyer. Consider your home's kerb appeal, as first impressions are crucial. Liaise with your estate agent to see what you need to do to attract attention, interest, and, ultimately, offers.

Quick Tip: Be wary of instructing an estate agent simply because they've said your house is worth much more than other valuations. Ask them for comparable evidence to back up their valuation.

Step 5: Marketing Matters – A Lot!

Your estate agent should provide you with an effective marketing plan. This should include professional standard photography, detailed descriptions of your property, and utilising both online and offline platforms to reach a broad audience. An experienced agent knows how to emphasise features that appeal to families. These include a safe neighbourhood, proximity to good schools, and family-friendly amenities.

Step 6: Viewings and Offers

Aim to be flexible with viewing times to accommodate potential buyers' schedules. You'll also need to work with your agent to ensure minimal disruption to your family's routine. When your home attracts offers, carefully go through them with your agent. It's not just the offer price you need to consider but also the potential of the buyer's ability to proceed promptly. Questions include - Do they have a mortgage in principle? Is their home already on the market? Are they in a rush to move?

Step 7: The Happy Ever After

Once an offer is accepted, your estate agent and solicitor will guide you through exchanging contracts and completing the sale. This includes ensuring all legal paperwork is correct, answering queries, communicating with all parties involved and arranging the moving date. Clear and consistent communication during this stage is vital to avoid any last-minute complications. Then, when all is confirmed, and the move is completed, you can begin the next chapter of your family's story.

Quick Tip: A good, well-connected estate agent can recommend you to a skilled conveyancer (property solicitor), an essential member of your family's home-selling team.

For more tips on moving as a family, check out our free step-by-step guide to selling your family home on our website or by clicking this link

Thanks for reading, tune in tomorrow for part four! from Nick and Teresa at Quarters Residential Estate Agents, Wokingham.