Selling A Home Privately, with No Estate Agent, to Save Money Whilst Ensuring a Quick House Sale
Selling a house without the estate agent can be a financial boost, especially if negative equity exists. Learn how to secure a quick house sale without the usual costs.
Saving money selling a property without an estate agent has become increasingly popular. This is because estate agents tend to charge between 1.5% and 3.5% of the sale value. See more about agency fees here. The fee can be problematic, especially if negative equity or financial difficulties exist.
Pricing A Property To Sell
Check how much similar homes have sold on the same road during the last six months. Nobody knows an area and how quickly houses sell, better than the person living there. Whether houses sell quickly or sales are sluggish, you should rice accordingly.
Get a reputable estate agent to come and value the house. Ask them how much they honestly think the house should be priced to secure a sale within the next few months.
Preparing The Sales Material
Take pictures of the outside of the home on a bright, sunny day, as this makes selling a home a lot easier; it will attract more visual interest. Take a picture of the front of the house and the back garden.
A picture should also be taken of the living room, kitchen, and bedrooms, as these are the rooms that people are most interested in.
Provide an honest description of the house that entices people to come and see it. It should be factually accurate, as it constitutes an offence to provide a false description.
Getting A For Sale Sign
Visit a local sign maker as they should be able to construct a sign for under £40. Most private sellers tend to quote their mobile number on the for-sale board for personal security reasons.
The Local Paper
It is important to identify a quality, local paper when selling a house. There is always one paper that specialises in property and will be favoured by the local community. Ask the estate agent where customers usually advertise, as this will provide a great starting point for making that sale.
Internet Property Site
It is possible to put a very nice advert on the Internet, including a full description and multiple pictures, for under £100. It will enable someone to display far more pictures than would otherwise be possible in a local newspaper. Provided that the pictures are good, it will boost interest substantially.
Accepting an Offer
A keen buyer comes along: This brings about the need for the services of a licenced conveyancer. Until contracts are exchanged, there is no legally binding contract. Should the buyer try to pull out after contracts have been exchanged, they would have to compensate the seller 10% of the agreed sale price.
Sell And Rent Back
If selling a home is proving difficult, it is worth considering a sell and rent back. The seller could choose to continue living there as a tenant and simply move on when they are ready. This would mean that a buyer would secure a quick house sale, as a cash buyer is prepared to buy it.
It is possible to sell a house without an estate agent and save a lot of money in the process. It adds extra work, but consider how long it would take to earn the estate agent fee at the factory or office. It is certainly worth the effort.