Selling a home

Homeowners often sell their homes to move to a different area or to buy a bigger property, or because they are having problems paying the mortgage and need to move somewhere more affordable.

If you have mortgage arrears or have been threatened with repossession, you need to act quickly. Call our helpline or get local advice - use our directory to find an advice centre in your area.

The basics of selling

Selling property usually involves six basic steps and lots of negotiations.

Using estate agents

Choose your estate agent carefully, and make sure you understand what your contract means.

Accepting an offer

If a potential buyer decides to make an offer to buy your home, this is only the start of the process. See what happens next if you accept the offer.

Valuations and surveys

A qualified valuer will come to assess the value of the property. The buyer may also have a survey or homebuyer's report carried out.

Sellers' legal preparation

All the legal documents relating to the property and the local area need to be carefully checked.

Exchange and deposit

Once everything's agreed, the contracts between you and the buyer must be signed and exchanged. At this stage the buyer pays a deposit.

Estate agents' fees

How much you pay normally depends on the type of contract you have with the agent. Don't expect to pay for anything you didn't agree to in advance.

Sellers' legal expenses

Fees and expenses for the legal work involved in selling a property can be expensive. They probably won't be refunded if the sale falls through.

Other sellers' costs

Depending on your circumstances, other costs may be involved in selling your home.

Negative equity

You are in negative equity if your property is worth less than what you owe to your lender.