Our FAQ's

Question 1

I want to sell my property. Where do I start?

Answer

When selling a house in the UK, it is important that you understand your finances because you will need enough money to cover the remainder of your mortgage if you have one. Whatever your circumstance, it is vital that you speak to your lender and get specialist advice on selling your house.

At Taylor Cole, we have an inhouse mortgage adviser who is available to support you in finding the right financial solutions when selling your property. If you would like to find out more about how our mortgage adviser can support you, call us on 01827 311412.

Question 2

How can I get my home ‘sale ready’?

Answer

There are various pieces of information you must collect when getting ready to sell your home. This includes your Energy Performance Certificate, HM Land Registry title documents, gas and electrical checks as well as building regulation completion, subsidence guarantees and party wall agreements. You can find a full list of the documentation you will need in our seller’s guide.

Question 3

How much should I sell my home for?

Answer

Deciding how much you should sell your home for is one of the most difficult decisions you can make.

The value at which you list your home should be informed by your own research and property valuations carried out by Taylor Cole, however, it’s important to remember that a property valuation is not necessarily the same as the price that your house will eventually sell for. After all, the price of your house will be sold for is down to how much your buyer is willing to pay.

Question 4

How do property viewings work?

Answer

We will organise them for you. For this reason, it is important that you keep your house clean, tidy and welcoming. Tidy away any clutter before any viewings so that you do not discourage potential buyers from your property.

Question 5

How do I choose a buyer?

Answer

As your estate agent, we are legally required to let you know about all offers that are made, even if it is below the asking price. Ask yourself: Are you happy with the amount offered? Do houses in the area sell for a similar price?

You can then decide whether to accept, reject or begin negotiations with the buyer.

Question 6

What needs to be considered in the contract?

Answer

You must consider the length of time between exchange of contracts and completion, what fixtures and fittings you will include and if there will be any discounts due to problems which have been flagged up.

Taylor Cole can support you throughout this process in order to ensure you get the best deal possible for your property. To find out more, read our seller’s guide.

Question 7

Do I need to hire a legal representative?

Answer

Yes. A solicitor or conveyancer is essential to the process of selling your property.

Taylor Cole will provide you with recommendations for and quotes from legal representatives such as solicitors and conveyancers. These representatives will support you with the legal work of selling your home.

Question 8

Do I need an EPC?

Answer

Yes. An Energy Performance Certificate, or EPC is a report which details the energy efficiency of a property. Legally, all landlords are required to purchase one before they let their property.

Question 9

What happens to my tenant’s deposit?

Answer

You are required to register your tenant’s deposit with an approved Tenancy Deposit Scheme. This deposit will then be held by either you, us or the deposit scheme itself.

Question 10

I want to let my property – what is the first step?

Answer

The first step in letting your property is discussing this with your mortgage lender as they must give you permission to do this. If, however, you will be buying a property with the intention of letting it out, you may be able to obtain a buy to let mortgage.

Taylor Cole have an inhouse mortgage adviser who can support you in finding the right financial solutions for renting out of your property. In order to find out more about the options available to you, call us on 01827 311412.

Question 11

How much should I charge?

Answer

This is dependent on a whole variety of factors such as location and the size of the property.

As experts in the market, we can provide you with a valuation which will take into account how much other rental properties are charging in the area and let you know what type of returns you can expect to receive.

Question 12

How will I receive my rental income from you?

Answer

We will organise the tenant to pay the rent via standing order. We will then transfer this money to your account on an allocated date minus our fees and costs for any work we carry out. We will also provide you with a statement.

Question 13

Can I enter my property during the tenancy?

Answer

You will need to give the tenants appropriate written notice before you enter the property. You tenants must be given at least 24 hours’ notice.

Question 14

What are my rights if the tenant damages the property?

Answer

Either the tenant will pay to fix the damage, or the cost for the damage will be taken from the tenant’s deposit. However, you should expect for general wear and tear.

Question 15

I want to buy a property. What do I do first?

Answer

Before you start looking for a property, it’s imperative that you work out how much the move is likely to cost and see what kind of mortgage you can afford. You can do this by talking to a mortgage adviser, who will look at your income, any debts you have and your deposit to assess how much you can borrow.

At Taylor Cole, we have an inhouse mortgage adviser, who is available to support you in finding the right financial solutions for buying a property. If you would like to find out more about how our mortgage adviser can support you with the purchase of a new house or flat, call us on 01827 311412.

Question 16

What factors should I consider when buying a property?

Answer

After speaking to your mortgage adviser about your budget, there are a range of factors you should consider when choosing a property to buy. Consider what type of property you would like to live in, where you would like to live, what type of accommodation you will need and how much you will spend.

Taylor Cole can support you with this process. We will search the market to present you with properties that suit your requirements and fit within your budget.

Question 17

What do I do after I have found a property I want to buy?

Answer

You will need to talk to us, your solicitor and mortgage adviser to make an offer on the property.

With the support of Taylor Cole, we can support you in finalising the process and purchasing your dream property. Once you have made an offer, we will take this figure to the seller. Alongside the price being offered, factors such as your ability to proceed will be considered. The offer will then either be accepted, negotiations will begin, or it will be rejected.

Question 18

Do I need a solicitor?

Answer

Yes. A solicitor or conveyancer is essential to the process of buying a property.

Taylor Cole will provide you with recommendations of legal representatives such as solicitors and conveyancers, which is an essential step to the buying process. These representatives will support you with the legal work of buying a property.

Question 19

What information do I need to purchase a property?

Answer

There is a range of documents you will need to keep the process moving and purchase a house. This includes proof of your existing address, proof of ID and proof of income.

This information must be provided to your estate agent and mortgage adviser, so it is worth preparing yourself in advance.

Question 20

Is an accepted offer legally binding?

Answer

No. Either party can still pull out of the sale without penalty up until the exchange of contracts. The process becomes legally binding when both the seller and buyer sign contracts which are exchanged between the solicitors of each party.

Question 21

How long will it take to complete my purchase?

Answer

Every purchase is different, and so the duration of the process will depend on both you and the seller’s position. If the seller has already vacated the property and you have already secured a mortgage, the exchange of contracts and completion may happen relatively quickly.

The average timescale of completion is approximately between 10 and 12 weeks.

Question 22

I want to find a place to rent. Where should I start?

Answer

Before you start searching for a new home, it’s a good idea to write down a budget. Consider your monthly incomings and outgoings to decide how much you can afford to pay each month. You will also need to provide a security deposit as well as a month’s rent.

Question 23

I have found somewhere I would like to rent. What should I do now?

Answer

If you haven’t already, make sure you go and see the property. As your letting agent, we can organise the viewings around your own schedule and be there to support you every step of the way.

If you are happy to proceed, we will ask you to sign a Tenancy Fee Declaration form and begin the referencing process to ensure you are able to be able to afford the property. We do this so that the landlord can be sure there will be no problems paying the rent on a monthly basis. The information you will need to provide includes your employer and income, your previous address, bank details and your relevant credit history.

Question 24

What happens if I want to move out?

Answer

If you are tied into a fixed term contract, you will be liable for the rent until the contract has ended. If you are on a rolling contract, a minimum of 1 month notice is required before rental date.

Question 25

What is a guarantor?

Answer

If you are not fully approved by the referencing process, you may decide to ask a guarantor to support you. This person, which is often a parent or guardian, will agree to take joint responsibility for the rent of the property.

Your guarantor needs to go through the same referencing process as you.

Question 26

Why do I have to pay a deposit?

Answer

The landlord is trusting you to keep their property in a good condition and in good order. A deposit is therefore necessary to ensure that any damages that do occur can be corrected at the end of the tenancy. Your deposit is protected by a government bonded scheme.

Question 27

What is a tenancy agreement?

Answer

A tenancy agreement is a contract which is signed by both the tenant and the landlord. It consists of a breakdown of all the rules to which both parties must comply. This is referred to as a AST and is for a minimum period of 6 months.

Question 28

Am I responsible for repairs?

Answer

Your landlord is responsible for maintaining the property in a good state. This may happen directly or through us as their letting agent. If, however, you damage the property in anyway during your tenancy, it is your responsibility to pay for the costs of repairing such damage.

Question 29

What happens if I can’t afford to pay my rent anymore?

Answer

It remains your responsibility to pay the rent on the property. However, we understand that your circumstances may change. The most important step in this process is to talk to Taylor Cole and let us to know to see if we can work with you to find a solution.

Our FAQ's

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Lettings FAQ's

Buying FAQ's

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