Below are some frequently asked questions we receive from our sellers.
How do you know how much my house is worth?
The simple answer to this is from research and knowledge of the local area. The way we conclude as to how much your home is worth is based on comparable properties that have sold in a close proximity, usually up to a 0.5 mile radius. We will gather a detailed report, along with other forms of evidence to justify a fair and realistic price for your property. We appreciate there are many factors that can affect the price of a property, including condition, garden size and location which is why we always prefer to come round and see the property in person. If you are looking for a free, up to date valuation, please call us and we will be happy to help.
How long will it take for my property to sell?
This question can be broken down into two parts. The first being, how long will it take for me to receive an offer on my property? The second being how long will it take for the whole process to complete?
Both questions can be difficult to answer due to the individuality of each property, however, with our experience we have noticed, if a property is priced correctly and has effective advertising, there is no reason why it shouldn't sell within a couple of weeks.
Many properties come to the market for too much money, and obviously this will increase the time a property takes to sell. Our biggest advice would be to price the property realistically so it sparks the interest and sells quickly rather than stagnating on the market.
The second part of the question is again dependent on many factors, such as how long the chain is, or the efficiency of your chosen solicitors. If you would like any recommendations on a quality solicitor firm, please head to our fee page where you can find more detail. Statistically, once an offer has been accepted it should take anywhere between 8-12 weeks to exchange. Woodcote Estate Agents are proud to have a dedicated sales progression team who will keep you regularly updated on the progress of your sale.
How much stamp duty will I pay?
Stamp Duty (SDLT) is the tax paid to the government by a buyer on the purchase of a property. Rates can vary between 1% and 13% depending on your personal circumstance and the price of your property. The tax is exempt on the first £125,000 but genuine first time buyers are exempt for up to £300,000 providing the property is worth less than £500,000. The table below explains the different thresholds of stamp duty.