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. You can order a board from www.lawpack.co.uk/property
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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