Each flat and house in Wimbledon Village and the surrounding area is as individual as the vendors that trusted independent estate agent Robert Holmes & Co works on behalf of to help maximise the value of their property.
Many factors influence the time it takes to sell a residential property in Wimbledon Village. These include the type of property, the current state of the market, whether it is a leasehold or freehold home, how long is remaining on the lease, whether the sale is to a cash buyer and even the time of year the property is launched on the market.
As a very rough guide, it takes between nine and 11 weeks to complete a property sale in Wimbledon Village after it has been listed with Robert Holmes & Co. However, this time can fall to 4-6 weeks if the sale is a cash deal for a freehold property.
This includes an average of between three and four weeks the property spends on the market.
However, we would point out that in a sellers’ market – when demand for property outstrips its supply – the time spent on the market can fall to as little as one day.
On the other hand, when a property is perfect for a very specific type of buyer it can spend longer on the market – especially if they are not presented for sale in a way that will attract interest from the target market.
Selling property in the shortest possible time
The 3 stages that selling a property at its maximum price in the shortest possible time involves no less than 7 steps.
Stage 1. Listing a property to accepting an offer
Step 1. Accurate valuation
The property valuations team at Robert Holmes & Co has an in-depth knowledge of Wimbledon Village and the surrounding area.
We can give an accurate valuation of any type of property based on its type, location, size, state of repair and even the amount of land that surrounds it.
An accurate valuation of a property is key to you achieving a good offer quickly. If a property is priced too high, it will fail to generate the number of views required to attracting a good offer.
When you launch your property on the market with Robert Holmes & co, we take care of every aspect of the sale, from creating full colour brochures, drawing up floorplans, advertising on property search websites, sending out details of your property to our large database of would-be buyers in the area, conducting accompanied viewings, notifying you of offers immediately and keeping you up to date on the conveyancing process.
Step 2. Instructing a solicitor
Vendors who are keen to achieve a quick sale at the right asking price are advised to engage legal representation putting their property on the market and to complete any documentation relating to the sale before receiving an offer. This includes taking steps to extend the length of the leasehold.
Step 3. Receiving an offer
As soon as an offer is received, Robert Holmes & Co will notify you verbally and in writing. We will also check the buyer’s ability to proceed before you decide whether to accept the offer.
Stage 2. Accepting an offer to exchange of contracts
Timescale: Between two and six weeks. There is, however, no defined timescale for this stage of a property sale and can depend on factors such as leasehold extensions and even whether all parties are available to contact once the conveyancing process gets underway.
Step 4. Accepting an offer
Once you accept an offer for your property, Robert Holmes & Co will prepare a memorandum of sale, write to all parties to confirm the agreed price and ask you to confirm the details of your solicitor.
There are no legal obligations until contracts are signed.
Step 5. The conveyancing process
The seller is responsible for drawing up a legal contract to transfer ownership, although this is usually done by a conveyancing solicitor who will draft the initial contract, answer questions from the buyer’s solicitor and negotiate the details of the contract.
The timescale for this step can vary dramatically, and depends on the time it takes to complete enquiries and searches.
At this stage you will also be able to agree on dates for the survey of your property, exchange of contracts and proposed date for completion.
Step 6. Exchange of contracts
Exchange of contracts can only take place when the following have been confirmed and agreed:
- Preliminary enquiries following receipt of draft contract
- Evidence of a good title
- Specific issues highlighted in the lease (if applicable)
- Local search queries
- Fixtures and fittings to be included in the sale
- The buyer’s mortgage offer (if applicable)
Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be transferred by the buyer’s solicitor to your solicitor. The completion date is then set by mutual agreement.
Stage 3. Exchange of contracts to completion of sale
Timescale: 0 days to eight weeks. There is no fixed timetable for a conveyancing transaction so this will take however long it needs to be for everyone to be ready to complete. But there does need to be sufficient time for mortgage funds to be requested and for everyone to arrange removals. The time it takes to complete a property sale can be reduced if the buyer does not have to obtain a mortgage.
Step 7. Completion
Completion is when the residual monies (usually 90%) are transferred from the buyer’s solicitor to your solicitor’s account in exchange for the keys and the property’s title deeds.
Your solicitor will call you when the money has cleared in the firm’s account and will inform Robert Holmes to release the keys.