Selling My Parents House: Part 3
Last month, my sister and I finally sold our parents house. Our late mother’s will has now been fully administered, all funds have been distributed and I finally signed off the “executor’s approval” document and returned it to the solicitors. A line has finally been drawn under a process that has taken about 15 months. Dealing with an estate (in the legal sense of the word) and selling a family home is not something that you do everyday. It’s usually something that comes up maybe once or twice in your life. Few people (myself included) are fully prepared for such an undertaking when it occurs. Hence I have some observations to share about my experience of dealing with the esoteric world of estate agents and solicitors.
It really pays to do some research and find an estate agent that is right for you. Selling a house is a unique process because it is very personal. Therefore you want to be dealing with people you can trust, who listen to you and who aren’t just going through the motions. So read reviews and ask other people for recommendations.
Some estate agents are very obliging. Others do very little for their fee (which is substantial). Do not add to the stress of selling a house by having to constantly chase your estate agents to do things. It is their job to arrange viewings, answer the questions that potential buyers raise and to liaise with your solicitors. If they’re asking you to do any of these things then tell them politely to do it themselves.
You also have to harden your heart. The house you are selling should not be viewed as your home but an asset being professionally marketed. You may not like the manner in which your home is described in the marketing material but it is wise to defer to those who do this for a living. A feature that you may think is quaint and quirky may be an absolute eyesore to others. Those viewing your home may not like your choice of decor and might be vocal about it. Simply put, don’t take things personally. Remain detached from the process and elsewhere when there are viewings.
With regards to solicitors and conveyancing, despite a superficial veneer of modernity, this process is still quite archaic in the UK. The language used is frequently very old fashioned and therefore hard to penetrate. Many of the procedures seem to take purely arbitrary amounts of time. Solicitors also tend to play their card close to their chest and communication between them can be vague at times.
Never make the mistake of using an online company for your conveyancing needs as you’ll often find that their postal address is miles away from where you live. Considering the amount of paperwork this process generates, it’s best to find one that is local.
Also, ensure that you are aware of all the fees involved in this process in advance. Selling a house is expensive. The greater the value of the property, the more it costs. The last thing you need is a final invoice with lots of additional costs, eating into your profits.
Don’t be afraid to ask, if you’re not sure about something or do not understand the legalities. This industry is rife with jargon. However, the answers to many of the obscure questions that arise are often very simple. Therefore, seek clarity from those you are paying.
Finally, be patient. Selling a house can be a lengthy and time consuming process. Use this time to your advantage. Don’t just accept the first offer that’s made. A slightly lower offer from a cash buyer may be a far safer bet than a higher offer from someone who hasn’t sold their own property yet, or has a mortgage offer that’s due to expire. It is also worth remembering that until you’ve signed anything, you can always change your mind. I’m not advocating being difficult for the sake of being, but if you feel that a buyer may be problematic or that something just isn’t working, then vote with your feet.
Overall, my own experience of selling my parents home hasn’t been too problematic or traumatic. I am glad that it is now done and that the house has a new family living in it. I think that my parents would be pleased that my sister and I have dealt with the matter and are now moving on. If I ever have to deal with such a process again, I think I am better prepared now. However, I am hoping that nothing of the kind arises in the immediate future.
