What is the process and timeline for selling/buying a property?
Selling a Property – Step-by-Step
Choose an Estate Agent & Market Your Home (1–4 weeks)
- Get 3+ valuations to compare fees & marketing strategies.
- Sign a contract (check tie-in periods!).
- Agent arranges photos, floor plans, listings (Rightmove/Zoopla).
Find a Buyer & Accept an Offer (1 day–3 months)
- Viewings start; well-priced homes sell in 2–8 weeks.
- Negotiate offers (buyers may haggle 5–10% below asking).
- Once accepted, the property becomes "Sold Subject to Contract (SSTC)".
Instruct a Conveyancer (1–2 weeks)
- Hire a solicitor (£1,000–£2,500) to handle legal work.
- Complete property paperwork (TA6, TA10 forms).
Buyer’s Survey & Mortgage Approval (2–6 weeks)
- Buyer’s lender conducts a valuation survey.
- Buyer may order a homebuyer’s report or full structural survey.
Exchange of Contracts (6–12 weeks after offer)
- Both parties sign contracts & buyer pays deposit (5–10%).
- Legally binding – backing out now risks losing the deposit.
Completion (1–4 weeks after exchange)
- Final funds transfer; keys handed over.
- Seller must vacate by agreed time (usually 12pm–2pm).
Total Time to Sell: 12–24 weeks (longer if in a chain).
