By Kyle Mutch

Generally speaking, people are more familiar with the term ‘first time buyer’ rather than ‘first time seller’ when it comes to the property market. However, the process of selling a property can be just as stressful and fraught with many challenges.

No two property sales are the same (something different always crops up) but there are common things you should think about when it comes to selling property for the first time.

You Must Get A Home Report Before You Can Market Your Property For Sale

When you put your property onto the open market in Scotland, you are legally required to provide potential buyers with a Home Report. A DM Hall Home Report is prepared by one of our qualified surveyors with expert knowledge of your local area. The report has 4 parts:

1. Energy Performance Certificate
2. Single Survey
3. Property Questionnaire
4. Mortgage Valuation Report (MVR)

DM Hall Home Reports include a generic Mortgage Valuation Report (MVR). This is not required by law, however we believe this is the vital bridge which allows the buyer’s lender to make detailed lending decisions – helping to ensure a smooth sale.

Some less comprehensive Home Reports may not come with a mortgage valuation report, leaving lenders to seek their own advice by obtaining a further separate report. For the sake of taking a cheaper option, this introduces uncertainty and may cause unnecessary delays for you as the seller.

Think “water”!

Lots of issues can affect the condition of your property but, first and foremost, think “water”. If possible, do a precursory check inside and outside for any obvious or potential damp issues that could be flagged by the surveyor. Ideally carry out repairs prior to marketing. In some circumstances this can involve engaging a qualified damp specialist.

Treat internet based valuation services with caution!

Whilst they have their place, entirely internet based property valuations are no substitute for the advice of the highly experienced team of surveyors we have here at DM Hall. Be sure to speak to one of our property specialists in your local area & they will happily guide you through the process.

Make sure all your covering documents for alterations and extensions are in order

If you’ve made certain alterations or extended your property, you will likely have required Planning Permission and/or a Building Warrant, or at the least had the works comply with the Building Regulations. Unauthorised works are often troublesome when trying to conclude a purchase, so make sure you have all relevant documents in place prior to putting your property on the market.

Valuation isn’t like how it’s often portrayed on television!

Unlike the TV ‘classic’, Homes Under the Hammer, whereby a professional appears to give a valuation whilst at the property immediately following their inspection, we at DM Hall would never do this. A thorough property valuation requires extensive research to obtain comparable sales, proper analysis of the comparables with appropriate adjustments being made before ultimately deciding upon a value. We are proudly RICS Registered Valuers and therefore, always adhere to strict auditing standards.

We appreciate selling your home is a big thing and can be stressful!

Feel free to ask your surveyor any questions before they start the inspection and be prepared for the surveyor to ask a few questions too!

Some of our surveyors prefer to start their inspection outside, while other colleagues will start inside your property. Your surveyor will always be happy to discuss the market, ease any concerns and answer questions you may have.

There is no direct relationship between Market Value and Insurance Reinstatement Cost

Market Value is an opinion of what the property should sell for on the date of valuation and is derived from comparable property sales. The Insurance Reinstatement Cost is an estimate of what it would cost to rebuild the property if something bad happened, like a fire. Any similarity in the two figures will be coincidental and in most cases there will be significant differences between the two.

When should I expect to receive my draft Single Survey report?

It usually takes 1-3 working days for you to receive the draft report following our inspection. We carefully proof-read the draft before emailing it to you so that you can check for any factual inaccuracies before approval. Then we can sign off the report ready for marketing the property with your chosen estate agent.

If you would like a member of our team to help with you with any queries related to selling your property, please get in touch. You can telephone or email our nearest office directly or you can make use of the enquiry facility on our website.

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