STEP 1 – Contact your Sapphire Blue agent
Ask your Sapphire Blue agent to conduct a market appraisal of your property, explaining comparable sales (comparative market analysis) and the best way of marketing your property.
STEP 2 – Signing the agency agreement
You have the choice of listing your property either exclusively with Sapphire Blue or as an open listing. Ask your Sapphire Blue agent about the benefits of listing exclusively.
STEP 3 – Selecting a solicitor
If you don’t already have a solicitor, ask Sapphire Blue to suggest some options so that your chosen solicitor can prepare a contract for your property (this is required by law and takes approx. 3-5 days to prepare)
STEP 4 -You’re on the market
When the contract is received from your solicitor, your property is officially on the market. This is when the Sapphire Blue marketing campaign starts, and continues until a successful purchaser is found.
STEP 5 – Purchaser found
Once a buyer has been found, we send their buying details to your solicitor. The property stays on the market until contracts are exchanged. This protects you, the vendor, by still entitling any other purchaser to either pay a higher price or exchange faster. Before the purchasers exchange the contract, they usually need to complete the following tasks:
– Organise a building and pest report on the property
– Lodge any finance applications
– Organise balance of 10% deposit or deposit bond
– Contact their solicitor to organise the signing of the contract
*The purchaser is not legally bound to buy your property during any of these stages.
STEP 6 – Exchanging contracts
Once both parties have signed the contract with their solicitors and the purchaser has paid 10%, exchange takes place. At this point, you are committed to sell to the purchaser at the agreed price. The buyer however, has 5 working days in which to finalise any finance, building reports etc (this is known as the cooling off period).
STEP 7 – Settlement
Most contracts provide for settlement to be effected 42 days after exchange. Between exchange and settlement, your solicitor will obtain any necessary searches/certificates. Your solicitor will inform you of the proposed settlement date as it becomes available, and advise the purchaser to have a final inspection either the day before settlement or the actual settlement day. This is to ascertain whether the inclusions as listed on the contract have been left, and that the property is in the same condition as it was at exchange of contracts. Keys cannot be handed over prior to settlement taking place nor possession granted unless a licence agreement (like a lease) is entered into for an agreed licence fee.