First steps

The good news is that selling a residential property recently became a little easier. In May 2010, the government scrapped the HIP, or Home Information Pack, which had to be provided to potential buyers by law.

However, you still have to supply an EPC, or Energy Performance Certificate. This contains info on your home's energy usage and carbon dioxide emissions, plus recommendations to increase energy efficiency and cut waste, and it can only be completed by an accredited domestic energy assessor. You don't need to have received an EPC to put your house on the market, but to keep on the right side of the law you need to have commissioned one.

Putting your house on the market

No doubt you'll be familiar with estate agents, those sharp suited young men who tear around quiet roads in their hatchbacks and have an uncanny skill for making that box room sound more like an east wing. If you're new to selling, going through an estate agent may be best - they will value and advertise your property and can handle viewings if you work in the day.

It pays to ask a lot of questions, though. Can your estate agent confidently walk you through the process? Beware estate agents that try to pressure you into going with their solicitor, or signing you into sole agency agreements for long periods - any agent worth their salt should price the property right, and be confident in their ability to sell fairly quickly. Good estate agents will likely be members of the National Association of Estate Agents.

Estate agents typically calculate their fees as a percentage of the final selling price of the property (usually 1.5 -2.5 %). Check if advertising costs or VAT are included in this percentage fee.

Selling your house without an estate agent

If you don't want to use an estate agent, first you'll need to value your property. Look in estate agent's windows and check local papers or Nethouseprices to see what similar properties are going for - or even ask an estate agent for a free valuation (unless they mention it, there's no obligation to sell with them).

Before deciding on a price, there are a couple of things you might want to consider:

• Decorating, or making repairs
• Arranging for a survey if you think there are any major problems that might affect the value of the house - a roof in a bad state of repair, for example.

If you're selling without an estate agent, you'll need to advertise your property. Common ways include advertising in newspapers or on the internet, or even selling to friends of friends. It helps to draw up extensive details about your house, including photos, room dimensions, council tax details and local facilities. Accentuate the positive!

Who can I sell my house to?

You don't have to sell to the buyer who offers the most money - sometimes it's easier to sell to a first time buyer, or someone who's found a buyer for their own property and isn't part of a long chain of buyers and sellers (these can take months to resolve).

An estate agent will negotiate with potential buyers on your behalf. Still, it's a good idea to talk to the buyer to find out about the reasons behind their move. Until you exchange contracts, there's no binding commitment - and even if you have accepted an offer, there is nothing to prevent either party from changing their mind and accepting a higher offer from elsewhere. Keep phone numbers of all potential buyers, in case your sale falls through.

The legal stuff

When you accept an offer, you or the estate agent should inform whoever is doing the legal work. While technically you can do this yourself, it's probably easier to hire a solicitor - or, if you're in England or Wales, a licensed conveyancer. They will request the deeds to the property and draw up a contract. There is no set scale of fees, so check around for a good price, checking if the figure is a fixed fee or variable, and if there will be charges if the contract falls through.

Exchanging contracts

As you prepare to leave the property, you should inform the fuel companies and phone company and ask for a final meter reading on completion day. If the buyer is paying a deposit, this will be paid to your solicitor at exchange of contracts - you'll receive it, with the rest of the purchase price, on completion.

Updated: 29/09/2010

Written by Louis Pattison