Need advice on selling my property...is it better to sell privately??

Question

My flat cost about £2000 (2 thousand) plus to BUY. through haarts estate agents i'm being charged £2700 excluding legal fees. a good friend of mine said its strange to pay more to SELL than it is to BUY.
iF I sell privately, does this require specialized know-how?? i need to sell *quickly*...

sorry, my details in first posting is ambiguous... the *charges* were (and i think i got the price wrong) just under £3000 pounds) thats apart from the price of the 2 bed flat which was £86 000 the value has gone up to about £115/118 k...

Answer 1

you can sell privately but know the laws of it first can and do you know how to re-registra the tenency deeds

and you will struggle to sell to ppl with a morgage as most morgage companys will ownly deal with lawers or estate agents

but if it only worth £2000 then can you not right of the money for 2 to 3 month and let it for the market value in your area that way it is always makeing you money look in your local paper to see rent prices in your area

Answer 2

Hi there,

As Estate Agents typically charge anywhere between 1 and 2.5% commission for their service and if you are selling a £200,000 home at 1.5% you will be paying £3,000 in Estate Agency fees. This seems like a lot of money for very little work.


The alternative involves selling your property privately so the first question is do you think you could promote your property, advertise it and negotiate a better deal than the estate agent?

Ask yourself:-

Do you know the property market well enough?
Are you able to negotiate with a buyer?
If the answer is yes then you have to ask yourself the following:-
Do you have the time to sell the property privately?
What are the pros and cons of selling a property privately?

The Pros of selling privately

Save a small fortune probably enough for a major holiday or even a car
You are in total control of the process
It is relatively easy to advertise a property privately
You can do this for as little as £50 versus thousands of pounds

The Cons of selling your home privately:-

Negotiation can be difficult for some people.
It can be time consuming
You need to be well organized
Will you get a better deal than the agent?

There are loads of private for sale websites out there but if you do one use one make sure they uplaod your property to the major property websites ie property finder, find a property, fish4 hmes, prime location (many are not allowed to upload your property details to rightmove as this is owned by estate agents)

The best private for sale websites are little house compnay, property broker, and house ladder.

They will charge anywhere between £50 to £200 for the ad, you should also get a for sale baord as well.

Good luck if you do go down this route - you have to be v. organised and it might take a bit of time with all the viewings (average viewings for a sale is around 10 to 15), and you have to liaise with the solicitor but if you can save £2,700 then think what you can use the money for.


check out my website for some more info - im building it up as i go along - hope it is useful

http://www.britsandmortar.com/Property-selling-guide


ps

one think you need to do is get a good understanding for how much your property is worth - check out www.ourproperty.co.uk - a cracking website which tells you how much the properties near you have sold for. It's a free service.

good luck.

Answer 3

To be honest... having worked in the real estate business a few years ago.... I would say it sure would save headaches to hire a agent.... they will take care of EVERYTHING for you, additionally there is a lot more to selling a home than people often realize... Lawyers and surveys, etc.... there is a lot too it.... and if you are purchasing a new home you will have all that to deal with also.

it is worth the expense.. I would say.

Best of luck.

Answer 4

If you sell privatly you save the estate agent fees and can maybe lower your asking price which is more appealing although prepare yourself for long winded telephone calls and repetitive conversations about the detals of your flat. Good luck

Answer 5

You will get a lot more exposure and activity if you list it through an agent. Most lookers go through agencies because it is easier to look at multiple properties this way. I'd say try it yourself for a month and if you don't have any luck, get an agent.

Answer 6

YOU SERIOUS

where do you live wisdom for 2000 pounds thats cheap

I would buy it

Answer 7

yes