The frank sellers guide

If you haven’t used an Estate Agent before, or just need to refresh your memory on what happens next, this is where we provide a brief guide to each process. Whether you plan to sell, buy, let or rent, these guides should make the task a little easier. Print out and tick off the stages as you go.

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How it all works

Mortgaged property

Before you do anything else, check your mortgage paperwork to see whether you will owe your lender an early redemption charge if you pay off your mortgage in the next few months. If you are buying elsewhere you may be able to transfer your existing mortgage and avoid this penalty, or you may have no penalty, in which case Franklyn James can provide details of a mortgage broker who may be able to assist you with switching to a more attractive mortgage product — for further information, please see our Mortgages section.

Valuations

Contact Franklyn James and arrange an appointment for a free and frank valuation. We won’t inflate our valuations to ensure an instruction, because we know that a property has to be priced correctly in order to sell. Be aware that in a rising market your property will probably sell for a bit more than the last similar property and in a falling market you will probably achieve a bit less.

If your eventual buyer needs a mortgage, an independent valuation will have to be carried out by a surveyor on behalf of the new lender, so the selling price needs to be appropriate to the property, although an asking price is normally pitched a bit higher than the expected sale price to allow room for negotiation. Sign the agency terms and conditions and provide ID to comply with money laundering regulations. For further information on valuations provided by Franklyn James, please see our Valuations section.

Viewings

Have a bit of a clean and tidy up in preparation for photos and viewings. On instruction, Franklyn James arrange free professional photography, a detailed floor plan and an Energy Performance Certificate where required. If the property is tenanted, ensure that your tenants know that the property is being marketed for sale. Provide the agent with a set of keys if you can. Try to make it as easy as possible for viewings to be carried out. Often the best price is achieved while a property is still new to the market and viewers are worried they might lose out to someone else.

 

Offer

Accept an offer which is realistic and which is in the region of what was discussed at the initial valuation. Get confirmation in writing of the position of the proposed buyer. Are they a cash buyer or do they need a mortgage? Are they currently living with family, renting or selling their home? What are their expectations regarding a completion date? Once you have accepted an offer and the buyer has instructed a solicitor, take the property off the market.

Conveyancing

Select a local, reliable solicitor. Franklyn James can provide you with a list of experienced conveyancing solicitors — for further information, please see our Solicitors section. Complete the property forms as quickly and fully as possible. This may take some time, but it is one of the most important stages in the selling process. Reply promptly and as fully as possible to all additional queries raised. Come to an agreement via the agent on a completion date which is acceptable to both you and the buyer.

Contract

Read the contract, sign and return it promptly to your solicitor. Once the deposit has been received from the buyer, your solicitor will ask you to confirm the completion date and will request your permission to exchange contracts.

Congratulations, you have exchanged!

Celebrate, book a removals van and if parking can be tricky, contact the council to get a parking bay suspended for completion day. Contact all relevant utility providers and let them know when you will be leaving the property.

Completion day

Completion of a sale often takes place in the early afternoon, so as soon as you hear from your solicitor that the sale has completed, drop a full set of keys round to the Estate Agency for the new owner to collect. Take meter readings before you leave the property and off you go!

All information provided correct at time of publication.

Key steps

  • Arrange valuation & instruct Franklyn James
  • Sign agency terms & provide ID
  • Prepare property for photos & viewings
  • Accept appropriate offer
  • Select solicitor & complete property forms
  • Reply promptly & fully to additional queries
  • Read contract, sign & return
  • Agree on completion date
  • Exchange & book removals
  • Drop off keys to estate agent

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LimehouseLimehouse

" We previously had our property with another agent for some time, and failed to find the right tennants. We moved to Franklyn James and Dovile immediately had viewings happening, she gave us great (timely) feedback and within a couple of weeks we had tenants moving in. This is our first time renting out a property so Dovile was able to help and advise on what needed to happen and when. Dovile was excellent from start to finish and working with Franklyn James has been very easy indeed. I would definitely recommend them, and especially Dovile. "

MikeApril, 2018

LimehouseLimehouse

" From the outset David has been a pleasure to work with. I highly recommend David for his professionalism and dedication to providing the best possible service for his clients. "

LOAugust, 2017

DocklandsDocklands

" He was always available, kind and professional! I will suggest the agent, Nicholas he did a great job for us! "

MarcelloMay, 2018

BlackheathBlackheath

" After providing Mark a brief criteria over the phone he scheduled viewings for that afternoon and even stayed late for me to attend after finishing work.

Mark had listened attentively and clearly knew his market as all properties I viewed had potential and I made an offer for one on the spot The apartment had just come on the market that afternoon, Mark provided great advice on how to act and worked incredibly quickly to secure the property before i'd even had breakfast the next morning.

Having been in the property a couple months' Marks remained in touch and checked that everything is going okay which highlights his personable approach.

I'd highly recommend Mark to anyone looking for honest and helpful advice in their next search. "

Jack A'BearApril, 2018

DocklandsDocklands

" Stephanie helped me to buy my first property in London. She is always available to take my call and its good that she can speak Chinese and put me in touch with Chinese speaking solicitor. "

ASMay 2018

DocklandsDocklands

" Stephanie helped us on our house purchase. During the course of purchase, she was very helpful, professional. She was always available to assist and answer my queries or queries. We are very happy to have her as our agent, and I would definitely recommend this agent. "

URSOctober, 2017

BlackheathBlackheath

" Mark is fantastic estate agent and negotiator. From the moment the property went on the market he provided excellent service. Mark's ability to read people and the market meant he was able to get the right people in to view the property and achieve some amazing offers in a difficult climate.

He is very responsive and very easy to contact. He is easy to talk to and listens to what you are looking for.

As a property investor I often work with estate agents to buy and sell property and without doubt Mark is the most skilled and professional agent I have worked with.

If you need to sell a property go to Mark! "

Sofia ThomasNovember, 2017

DocklandsDocklands

" On the night of the viewing i was unable to locate the property due to my GPS playing up. However Nicholas located me, arranged a meeting point and drove me to the apartment! Nicholas was friendly and professional. Certainly recommend to others. "

KSApril, 2018

LimehouseLimehouse

" David provided an excellent service from viewing to completion on our recent purchase of a flat in Bow. David was very knowledgeable and answered all our questions thoroughly. He also went out of his way to be useful and we are very grateful for his help. "

MarcusSeptember, 2017

LimehouseLimehouse

" David has provided great support throughout the whole process of selling our flat from the outset with his understanding of the local area and market conditions through to coordination with all parties at each stage and keeping us fully informed. I would certainly recommend David and Anthony at Franklyn James to anyone seeking a thoroughly professional and supportive service. "

LimehouseFebruary, 2018