Home Information Pack (HIP's)- Selling Privately
You do not need an Estate Agent to sell your property
Estate Agents serve no legal function in the sale or purchase of your property, their main role is to advertise and to introduce your property to prospective buyers
Once the buyer decides to buy your home, the agent will contact both solicitors and pass on the details of both parties. That is the end of your agents involvement
As a seller you can therefore elect to sell your house privately by advertising on line, local newspapers, radio etc depending on your advertisement budget
If you are not using an agent then you must be prepared to take phone enquiries and show prospective buyers round your home
Selling privately has its own advantages and disadvantages
Advantages Are:
- No commission, depending upon the value of your home, agents commissions are charged at around 1% (Some charge more)
- The buyers deal direct with you therefore you are guarantee to know about all the offers on the table
Disadvantages are:
- You must make yourself available to prospective buyers. This means answering calls, answering questions about your home, willing to show them round at times convenient for them
Can I do both
- If you decide you are not a salesperson. You can also instruct an estate agent as well as advertising privately.To be able to do this, you must make sure you sign with the agent on a sole agency basis. This means that although the agent has the sole right to sell your house, if you sell it privately you don't have to pay them commission
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