Step by step guide to selling your property

London properties are valuable capital assets that can yield significant rewards for astute investors, serving as vital components for portfolio expansion and diversification. Therefore, selling a home should be viewed as a strategic business decision aimed at minimising costs and maximising return on investment. The difference between a modestly profitable sale and a financial windfall often comes down to timing and preparation. Here, the expertise and advice of an established estate agent become invaluable

Step 1: Make a plan

There are many reasons for selling a property, some more time-sensitive than others, such as career relocation, schooling, a growing family, or the need to free up capital. Even without time pressures, setting a schedule helps ensure all components of the sale fall into place. Allocate time for researching the local property market, prospective estate agents, conveyancing experts, and local tradespeople if needed. Assess the costs and time required for their services.

Step 2: Choose an agent

Selecting the right estate agent is crucial. The best agents are experienced, transparent, and will be in regular contact with you during this intense and often stressful period. Key questions to ask include:

Step 3: Market your London property

A good agent should be able to market your property promptly upon instruction. They should take professional, high-quality photographs that showcase your property effectively, generating substantial interest. Agents like Benham and Reeves provide additional services such as video tours and floor plans. Ensure your agent outlines where and how they will market your property to reach the widest audience.

Step 4: Accurate valuation

An accurate valuation is the foundation of a successful sale. It helps balance attracting buyers and maximising profits. Benham and Reeves offer a free online valuation as a starting point. Consider factors such as the age, size, location of your home, and the state of the economy.

Additionally, potential structural improvements, modern fittings, room layout, electrics/heating, double glazing, storage space, and overall wear and tear can influence the property value. A formal valuation by a qualified agent is recommended for accuracy.

Step 5: Best home presentation

Enhance your property's appeal by decluttering, applying fresh paint in neutral colours, and ensuring all fixtures work properly. Cost-effective improvements like these can make a significant difference in how buyers perceive your property.

Step 6: Soft furnishings with high appeal

Stylish and tasteful soft furnishings can give your property a competitive edge. Consider options like furnishing packages, home staging, window dressing, and strategically placed artwork to enhance your property's appeal without major renovations.

Step 7: Viewings

Treat every viewing as a potential sale. Keep your property in excellent condition and be open to feedback from your agent or prospective buyers. Whether you need to be present during viewings will depend on your agent’s advice.

Step 8: Legal matters

Choose a conveyance solicitor early to handle the legal aspects of the sale. Your estate agent can recommend experienced professionals. Ensure all necessary documentation is up to date and accessible before accepting an offer. Complete a property information questionnaire honestly to avoid delays or additional costs during the conveyancing process.

By following these steps and leveraging the expertise of a trusted estate agent, you can navigate the property-selling process smoothly and achieve the best possible outcome