How To Sell Your House
copyright Terry Robinson
Welcome to How To Sell Your House. Here you will find lots of information about the process of selling a house, and answer questions such as “How much does it cost to sell a house?”, “Can I sell my house for cash?”, “How long does it take to sell a house?”. We also cover how to sell your house and rent it back, house repossession, selling your house online, property auctions, Court Orders to sell a house, and companies that buy houses.
How To Sell Your House
When you decide that you want to sell your house, there are two main options: either you can put it in the hands of an estate agent, or else you can try and sell it yourself. In certain circumstances you could do both, but it will inevitably end up costing you more, as the agent will not have a “sole agency” (one where he has an exclusive arrangement with you to sell your house), and will therefore want a higher fee.
The advantage of using an agent is that they will generally know the market, they will give you a free valuation, they will take care of advertising and marketing, conduct viewings on your behalf, and receive, and even negotiate, offers. They may, depending on how helpful they are, provide advice on the way to present your house; all this means you can get on with the rest of your life, and concentrate on what to do when you sell the house. However, that service comes at a price, and you may end up paying up to 2% of the selling price.
Agents can be found on the high street, or online. All of the larger chains of estate agents operate both offline and online and will market your house in their offices, in local print (eg the local newspaper) and on their websites. Fees vary; some will charge an upfront fee, then an “ad valorum” fee (ie one which varies according the resulting selling price), but the usual practice is a simple ad valorum fee. Interestingly, this sometimes puts an agent in a difficult position; the higher the price achieved, the higher the fee, but the more difficult it is to sell it.
Specialist Agents also either run, or have access to, property auctions. These generally are used to sell houses which are in a poor state of repair, have problems with their legal documents (eg there may be an issue about who owns a particular part of the property), or the vendor (the seller) requires a quick sale for some reason. Prices are usually lower to take account of these issues, and completion of contracts generally quicker.
Sell your own house
You can sell your own house by placing an advert in the local newspaper, on a website, or by placing a board outside your property, or, of course any mix of these. The Property Broker website not only puts your house on its website, but also provides a sale board. Costs range from £50 upwards, but you should pay no more than £150 for an advert which should remain in place until your house is sold.
The advantage of this method is obviously the savings in the cost, but remember you have to do all the running around, viewings, and negotiating yourself. Additionally, you will either have to pay for a valuation or look at what similar houses are selling for in your neighbourhood (by looking at, for example, the Land Registry website) in order to work out what price to set if you are selling your house privately.
You could use ebay to sell your house – a vendor managed to sell all his possessions, including his house, on ebay when he wanted a new start in life! Not for everyone, though!