Selling a house privately

[shopgirl]

Anyone got any experience of selling a house privately? Who is the best person to ask to value it. Any pros & cons of the experience would be gratefully received. Thanks

 

[sadie]

If it were me, I wouldn't. Unless you have experience in negotiating money matters, and have the time available to take calls, arrange appointments, not be annoyed when people don't show up, etc etc. Estate agents have the office admin to do all that. Also they will have people on their lists who they can send details of the house to. Unless you have a very willing solicitor who can take on some of the nitty gritty sales process and the money negotiations.

An experienced estate agent will wring every bit of available money they can out of a would-be buyer. Also they can sort out the messers from the serious buyers who actually have the money.
What if you agree a sale and the seller says stuff like - oh can you take off 5k because our surveyor says it needs rewiring/the bathroom plumbing is going to the wrong pipe/chimney is unstable.
I'd run a mile from it if it were me, but that's just from having sold and bought myself a couple of times - using estate agents.
As a buyer I'd be very very wary of someone selling a house themselves. I'd figure if they were that keen to save the few thousand on the estate agents fee, that there would be no way they would give me a bargain on the house. If it was that easy we'd all be doing it.

 

[shopgirl]

Thanks Sadie I have quite a bit of experience in buying & selling both commercial & residential property. I have been approached by someone who is interested in buying a property I own & I am interested in hearing about other people's experience of selling privately.

 

[twofor1]

Anyone got any experience of selling a house privately?

I have advertised and gone sale agreed recently on a property privately (Not signed yet, but am confident).

My only involvement was to agree a price, thereafter, my solicitor deals with buyer’s solicitor, this was pointed out to all viewers.

Had an agent been involved, it would have been no different; agent agrees a price, my solicitor then deals with buyer's solicitor.

If you can negotiate a price that you are happy with, and are confident that an agent would not get you a better price, go for it.

I accept that sought after properties would benefit from the experience of a skilled negotiator.

In my case, an apartment in the north east, the local agent has several similar apartments for sale in the same complex, and still has, which one does he push ?

I decided to put it on Daft and put a sign in the window so anyone that had a viewing of neighbouring properties with the agent will see mine is also for sale.

My ‘’sale agreed’’ resulted from this strategy.

I am confident, in my case anyway, that I am getting a good price without an agent fee, but equally accept than an agent, in many cases can be beneficial.

 

[Setanta12]

If I recall correctly, Freakonomics also showed that estate-agents took longer to sell their own homes but also sold for more than the going-rate on their own homes. (Disclaimer - US housing market stats)

(Reason came down to pocketing commissions quicker/earlier)

 

[shopgirl]

Thanks for that Twofor1. Well done & good luck with the rest of the transaction.

 

[Bronco Lane]

I sold two of my previous properties. Made my own handouts. Open viewing on a Saturday. Made my own sign for outside the house. Stood at the door and welcomed viewers. Negotiated with an interested party and then passed them on to my solicitor. Got the market price. Easy and enjoyed every minute of it.

 

[Bronte]

I have quite a bit of experience in buying & selling both commercial & residential property. I have been approached by someone who is interested in buying a property I own & I am interested in hearing about other people's experience of selling privately.

Are you happy with the price, I imagine as you've been approached that that he will go higher. All you have to do is agree a price, no need for anybody else. With pleny of experience what can an estate agent bring to the table for you?

 

[shopgirl]

Good for you Bronco! Thanks for the encouragement. I have someone coming next week to value it & he very enthusiastically told me to watch the Midweek programme which was on TV3 last night (Don't worry Brendan I'm not starting a discussion on house prices!) Thanks for comments.

 

[Bronte]

I have someone coming next week to value it .

You need to be careful here, you already have a buyer. On what basis is the valuer coming? With a view to sale, a view to negotiate for you, are you paying for the valuation.

 

[Bronco Lane]

You need to be careful here, you already have a buyer. On what basis is the valuer coming? With a view to sale, a view to negotiate for you, are you paying for the valuation.

Have you read what the op said? They have been approached by someone who is interested in buying the property. What is wrong in having the property valued before she enters in to negotiations with this person?
A valuer values a property?

 

[Bronte]

What is wrong in having the property valued before she enters in to negotiations with this person?
A valuer values a property?

People have been caught out before with estate agents. I'm just telling her to be careful. A contract doesn't have to be in writing etc.

Valuers, ie estate agents ( EA)value for free with a view to getting a sale, if you pay for the valuation that's a different matter, the EA might consider he's hired and it's difficult to disprove afterwords.