Top Tips for Selling Your House Privately
1. Keep your eye on the main prize, the substantial
saving you will make by not using an estate agent. Commissions
vary but even a 1.5 per cent commission on a £300,000 property
will amount to £4,500 plus vat. Bear that in mind when budgeting
for the marketing of your property. £1,000 spent will still
be a huge saving over the cost of estate agents' fees.
2. Many people market their house privately as well
as with an estate agent. If you do this make sure the demarkation
line is clear. If an estate agent can claim to have introduced
you to a buyer, even indirectly, he is entitled to his commission.
Watch out for small print in your contract with your estate
agent offering him "sole selling rights". This will entitle
him to his commission even if you find a private buyer.
3. Take responsibility for putting a realistic price
on your house. You should get it valued by more than one estate
agent but you should take their valuations with a pinch of
salt. Check out the price of similar properties in the are
via the Land Registry (www.landregistry.co.uk)to see what
prices properties have fetched.
4. Draw up particulars of your house. Make sure they
are accurate, professionally presented and free of jargon.
5. Photographs of your property should form an integral
part of your marketing strategy.
6. Put up a professionally designed For Sale board
outside your property. 8 out of 10 people who move house do
so within 5 mile radius so the local market is critical For
Sale boards must conform to government regulations on size
and layout.
7. Be prepared to advertise in local newspapers but
do not scrimp on costs. A small advert without pictures will
be overshadowed by the glossy adverts used by estate agents.
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