Making the decision to sell your home is an emotional one, and if you’ve never done it before, it can be overwhelming. But no matter where you’re moving to, Camberwell is our home, and no one knows how to sell here quite like us. We’ve broken down the key aspects of a sale so you can go into it feeling confident and without any unexpected surprises.
Go on a fact-finding mission
When it comes to selling, the more you know the better. The market is always changing, and understanding your local area is key – but what do you need to know?
- The house prices in your area. You can find a good starting benchmark through sites like Rightmove and Zoopla.
- The demand in your area. Who is looking and how many? Right now, the UK is in a seller’s market, so demand in and around SE5 is high.
- Problems you might encounter. For example, do you still have a mortgage, and have you checked the fees you could incur by moving?
- Get a valuation on your home. Once you’re ready to take the next step, you can book a free valuation.
- Setting time aside to gain insight into your postcode is well worth it, and will help you in every step that follows.
Understand what’s driving local property prices
Like any other London borough, prices in Camberwell and Denmark Hill are booming, and competition is fierce. Take the time to discover what’s driving house prices in your vicinity. SE5 is up-and-coming, so house prices here are shifting at a record pace; the average semi-detached property sold for £1.3million last year in the area. Keeping an eye on the changes can help you evaluate your home’s value – but if you want a more accurate estimate, you can book a free valuation with us.
Think about adding value to your property
Buyers have a variety of reasons to buy, and the secret to securing one is to think of them as your customer, and create a space that they would want. Ask yourself, what would you look for in your ideal home? While you can’t create anything specific, the one thing people always want is more space – and investing in an extension can tip the scales towards a sale. If you’re thinking about extending to add value, every little helps. An extra bedroom can increase the value of your home by 20%, whereas an extra bathroom can add 5% - small numbers alone but can have a huge impact.
Discover and understand your finances
We can’t stress this enough – know what’s in your wallet. By understanding the money you have available, as well as the funds that could come in, you’ll be prepared to face the fast-paced world of selling. We’ve broken down some of the costs you may come across:
Estate agent fees
Your estate agent provides a vital service. They’re your point of contact throughout the journey – dedicating their time to ensuring your home is ready to sell, reaches the right people, and that there is a smooth transition between stages. They offer expertise every step of the way and their fee will reflect this.
EPCs
Your EPC or Energy Performance Certificate is a legal requirement and must be done before you put your house on the market. This ranks your home in a chart of how efficient it is, and the greener, the better. It costs between £60 to £120 depending on the size of your home. You can search for an assessor in your local area, or through the government website.
Solicitor/conveyancer fees
The amount your solicitor could charge depends on the value and type of home you’re selling. The cost can range from £400 to £1,500, however, with the amount of paperwork, it could be money well spent: we’ll cover this in more detail later.
Taxes
Taxes can be an added cost when selling, but only for certain types of sellers. If you’re selling a property that isn’t your main family home i.e., a rental property, or a property you’ve inherited, you’ll need to pay Capital Gains Tax when it’s sold.
Cleaning and removal
Of course, there are costs to consider after your sale. You have a whole life to move when it’s time to hand over the keys, and outsourcing cleaning and removal can take some of the weight off of your shoulders.
Appoint an agent
Your point of contact, your base of knowledge, and best friend in the selling journey – your estate agent. As we said earlier, choosing whom to entrust your home to is one of the most important decisions in the whole process. There are a few types – you can settle for a big chain, try out one of the online-only sales platforms, or a local estate agent. What’s the difference between them?
With a local estate agent, you have a wealth of area knowledge and expertise at your fingertips. Young professionals and families flock to SE5 for a reason – how could a chain or someone behind a computer understand the unique atmosphere of each street in Camberwell and Denmark Hill?
Get a solicitor
Appointing a solicitor is a vital part of your selling process. Like we said above, they’ll handle the legal requirements, and ensure your sale proceeds smoothly and efficiently. However, you can do it yourself, but it’s not recommended. There’s a lot to consider, and getting legal help can save you a lot of time and energy, as well as avoid any pitfalls or misinterpretations.
Most estate agents will have a list or are partnered with a recommended solicitor or conveyancer – someone they trust with their clients to provide the best legal help and expertise that reflects their values.
Staging and advertising
76% of buyers believe first impressions are everything, no matter whether you’re searching in-person, or online. It’s vital your home looks its best – inside and out.
Your home’s interior is a reflection of you and your lifestyle, but to attract buyers, it needs to be their idea of perfection. That’s where staging comes in. Homes that are staged sell three times faster than those that don’t – so make sure your home is primped and preened and ready for buyers to knock on your door.
Next is getting it out there. Your agent will use their area knowledge and expertise to really sell your home. What makes Camberwell and Denmark Hill unique for selling is the vibe in our community. From Georgian terraces, covered in wisteria, to Edwardian semis with plenty of room, as well as modern cottages that ooze style and that ‘urban village’ feel, the buildings themselves become a feature. Pair them with amazing eateries, local green spaces, and fantastic schools, selling in SE5 is an experience like no other.
Buyers and offers
Once that ‘For Sale’ sign is up, offers will start coming in. Don’t be surprised if many are below your asking price – buyers tend to opt for a bid that’s 5% to 10% lower to open up negotiations. There are three main types of buyers:
- First time buyers
- Those using the profit from the sale of their home, or chain buyers
- Buyers who are purchasing in cash, usually investors
All have their advantages and disadvantages, and not all are financial. For example, if you’re looking for a quick sale, a first-time buyer could be more appealing than someone in a lengthy chain. Whichever you choose, ensure it works for you. An agent who is knowledgeable in the area, understands current trends, and knows your unique situation can offer advice before you accept.
Remember, offers aren’t binding until contracts are signed – and surveys need to be completed before then. Be wary of gazumping or gazundering, as both can have detrimental effects on your sale. The best way to avoid them is to move quickly – and in Camberwell and Denmark Hill, our market moves at a rapid pace.
Complete all surveys and checks
Once you’ve found the ideal offer, then you can start to prepare your home for the contracts. Though they aren’t a legal requirement, house surveys allow you and your buyer to discover any problems with your home you were previously unaware of – this is where discovering and understanding your finances comes in. Think of it as a health check – and with some homes here dating back to the late 18th century, it’s worth completing these and saving a lot of money.
Sign the contracts
The checks are complete, you’re happy with the price, and now it’s time to draft and sign the contracts. You’ve reached that all-important completion day. This is our favourite part of the sale, as this is where that hope of a sale becomes reality. You’ve sold your house. Someone has bought their dream home in SE5. It’s a wonderful moment.
Once you’ve both signed on the dotted line, you can set up an exchange date and hand over the keys.
No one can sell your home like Urban Village. Sellers come to us not just for our expertise, but our extensive knowledge of the Camberwell and Denmark Hill area, personal approach, and sharp focus on getting the best result. Request your free rental property valuation or call us on 0203 519 9121.