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Do I Need An Estate Agent?

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carlito000
carlito000 Posts: 2 Newbie
in House buying, renting & selling
Hello, first time poster. Very straightforward question.

We are selling our home and next door neighbours have made it clear they want to buy. Do I need an estate agent in this instance? How do you get the ball rolling on a sale without an estate agent?

Many thanks.
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Comments

  • eddddy
    eddddy Posts: 16,442 Forumite
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    carlito000 wrote: »
    Do I need an estate agent in this instance?

    No - but a good EA would qualify the buyer, and progress the sale, and monitor the chain etc. So you'd need to do that yourself.
    carlito000 wrote: »
    How do you get the ball rolling on a sale without an estate agent?

    Both parties pass all the details to their respective solicitors, and they get the legal stuff started.

    And the buyer applies for a mortgage, arranges surveys etc.
  • Misslayed
    Misslayed Posts: 14,178 Senior Ambassador
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    A colleague sold her last house entirely by herself, said she saved a packet and "it wasn't rocket science, just common sense". And you wouldn't need to advertise, which she did.
    I’m a Senior Forum Ambassador and I support the Forum Team on the Competition Time, Site Feedback and Marriage, Relationships and Families boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com All views are my own and not the official line of Money Saving Expert.
  • capital0ne
    capital0ne Posts: 872 Forumite
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    As long as you both are happy with the price and you have a good solicitor, and are able to handle all the queries from your neighbour, you don't need an EA.

    Go for it! Good luck
  • PokerPlayer111
    PokerPlayer111 Posts: 343 Forumite
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    If you want to throw away money, EA will glady take it and suggest they are needed in any situation.
  • knightstyle
    knightstyle Posts: 6,990 Forumite
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    The great thing about not having an EA is that you miss out a step in the communication chain. No having to see their mortgage advisor, no pressure to use their "special" insurance etc.
  • kingstreet
    kingstreet Posts: 38,767 Forumite
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    Note your buyer's details.

    Note your buyer's solicitor details.

    Note your details.

    Note your solicitor details.

    Note the property address, price, tenure and anything included in the sale price, such as carpets etc.

    We call that a Memorandum Of Sale, in the trade.

    Write a letter to each party attaching the above.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • carlito000
    carlito000 Posts: 2 Newbie
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    Thanks so much for the replies everyone. Not a lot of love out there for the poor old EAs :)

    It a bit daunting to try and undertake a sale without one, but I!!!8217;m certainly game!!
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    Start by sitting down with a cuppa, and agreeing the price.

    That's basically the EA's job done - on to the solicitors...
  • agatham
    agatham Posts: 30 Forumite
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    Depends upon how good the Real Estate Agent is. Reputation of the EA matters here. EA would make the paper works more smoother for you while buying or selling a property.

    By the way, did you try posting on rightmove website? By posting in such websites, you can probably handle it yourself. But when you post about your property, the chances of a Real Estate Agent seeing your Ad and calling you is high. So, it would be a bit difficult to avoid an agent even though you can do it without them.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    The point that's been missed so far is getting the best price. As long as you are happy that you are getting the best price you can (minus their commission) then there's no reason not to. I did it once, I was the one buying. It wasn't difficult to establish price since it was on an estate with many near identical houses. Harder if yours is a unique property which is difficult to value without open competition.
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