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Understand the Steps in the House Selling/Buying Process

Buying or selling a home normally takes 2 to 3 months. The process can take longer if you're part of a chain of buyers and sellers.

Buying or selling a home normally takes 2 to 3 months. The process can take longer if you’re part of a chain of buyers and sellers. There are several steps you’ll need to follow, as detailed on the official gov.uk website:

Estate Agency
If you are to use an Estate Agent such as Belvoir! Sheffield Estate Agency  to sell your home such then you will sign an agreement with us to sell your home. Estate Agents are legally bound to treat buyers fairly. We must show any offers promptly and in writing to the person selling the house. We are also legally obliged to pass on any other offers for the property right up to when contracts are exchanged.

Thats the ‘legally obliged’ requirements, that all agents are bound to. But remember that is the minimum legal requirement, use an agency like Belvoir! Sheffield and you will take advantage of a much higher level of service and benefits as a seller.

Making/Receiving Offers
Potential buyers must make any offers through the agent. Once a buyer’s offer has been accepted, the seller is responsible for drawing up a legal contract to transfer ownership, Belvoir! Sheffield can help wigh this process.

Transferring Ownership (conveyancing)
An offer isn’t legally binding in England and Wales until contracts are exchanged.

Stamp Duty
Depending on the amount given for property, the buyer may have to pay Stamp Duty Land Tax

If you buy property for more than £125,000, you pay Stamp Duty Land Tax (SDLT) of between 1% and 7% on the whole purchase price. You still have to pay SDLT if you swap something of economic value for a property, eg shares, another property. You don’t pay any SDLT if you pay £125,000 or less.

Energy Performance Certificates
Sellers must provide an Energy Performance Certificate for the property Full details on why can be found here, if you are selling with Belvoir! Sheffield then we will take of this whole process for you.

For more information, please visit www.belvoirsheffield.com or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.com You can view all the property current listed by Belvoir! Sheffield Estate Agency here.

For the most uptodate information relevant to landlords, vendors, and buyers of owner occupied and Buy to let property in Sheffield ensure you follow Belvoir! Sheffield on either Facebook Twitter or visit our website at http://www.belvoir.co.uk/landlord-information or for selling http://www.belvoir.co.uk/property-sales-sheffield-p4147

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