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  • FIRST POST
    • Marcus
    • By Marcus 21st Apr 04, 7:42 PM
    • 14Posts
    • 238Thanks
    Marcus
    House Selling - Money Saving Tips
    • #1
    • 21st Apr 04, 7:42 PM
    House Selling - Money Saving Tips 21st Apr 04 at 7:42 PM
    Greetings all. I’ve been using this site for a while now and have managed to save us a small fortune. Years ago I was an estate agent so I thought I’d see is I could write some bits and bobs in relation to my experiences in the hope that it might save people some cash.

    Selling Your House

    Methods to Save Money

    1) Agents Fees
    a. All Estate Agent Fees are negotiable. First, check through the local property paper. See which agents get the most business. Are any members of the NAEA. Busy agents who are members of the NAEA would be my first choices. Select the best 3 or 4 agents and phone them up as potential buyers. See what service you get over a week or so as a buyer - that way you’ll get an idea of how they will market and present your property. A good proactive, busy and well managed agent will still have time and resources to post/email you details and phone you with new properties.

    Then get them all to Value your property. Tell each valuer that you have other valuations (BUT NEVER TELL THEM WHAT VALUATIONS OTHER AGENTS HAVE GIVEN YOU - AS THEY’LL MANIPULATE THEIR OWN VALUATIONS) and that you are looking for a fee of 1% with no lock-ins. Most agents will try to lock you in - so that if you instruct them to take your property off the market you will not contractually be able to re-market with another agent for up to 8 weeks (especially with corporates). Make sure you get this down to 1 week after written notice. If you are locked in and you then sell your property through another agent you will get sued for the fees.

    Agents are sales persons - they will give you great reasons to lock you in and charge you more... but they also need your business - thus you have the power to ask for and get these things.

    b. Once your property is up for sale keep an eye on your agent - mystery shop them ie call them up, give a false name etc. and tell them you are looking for a property that matches your own property’s description - see if they push for you to view your property - are they positive and energetic?

    The Duel/Multi-Agency myth.
    If you become unhappy with your agent’s efforts it may be time to sack them or go multi agency. Tell an agent that you wish more than one agent to market your property and they’ll try and push up the fees to staggering amounts (2.5%+!!).
    Tactics - tell your current agent that you wish for other agents to market your property. Tell them that you’ll keep them as an agent only if they will keep your fees at 1%. If they will not, then sack them (you should only be locked in for a week). I’ve never known an agent not to back down in this situation - they’d lose potential business if they let you go.
    Now go to some other agents - probably the other agents on your original list - and tell them that “my agent has agreed to let me go multi-agency and my current fees are 1% - would you like to also market my property at 1% multi-agency?” You can guess what the answer will be...

    A 1 % saving on the average cost of a property in the UK (currently £150000) will save you £1500 before VAT.

    Duel Agency means you’re marketing with 2 agents - multi agency means you’re with more than two. Agents will try and charge you more for either of these - especially in the case of multi.



    2) Solicitor Fees
    During you initial enquiries with estate agents, ask them for several recommendations each of good conveyancers or solicitors. You don’t just want the name of the firm, but also the name of the specific solicitor/conveyancer. Remember, some agents will have ‘arrangements’ with some solicitors and some will even have their own - so be warned. A good rule of thumb would be to approach solicitors (by name) who have been recommended by different agents - although some solicitors will have arrangements with more than one agent.

    Phone the best solicitors and ask for written confirmation of their charges. Take note of how they treat you - do they speak in plain English, are they friendly and do you get their details as promised the next day. And once again - their fees are negotiable - there’s no reason not to ask your favourite contender to shave £xxx off of their fees if you have evidence of more competitive quotes from other solicitors... they may say “no chance” - in which case you need to make a decision as to whether or not the extra charges are really worth it.

    A solicitor can make or break deals for you so shop around. It’s very hard to change solicitors once they start the conveyancing process for you... and it will cost you!

    And finally - avoid fee busting corporate conveyancing firms - they will most likely slow down the conveyancing process - these are normally call centre and internet based firms. They can save you as much as £500... but as stingy as I am I would never use them.



    I hope this is of use to you and I hope that my info is still correct.
    I’ll see if I can write something for buyers when dealing with agents and the like.

    Regards
    Marcus
Page 40
    • kinger101
    • By kinger101 6th Feb 17, 9:52 PM
    • 3,698 Posts
    • 5,049 Thanks
    kinger101
    Sounds like spam.

    It's also bad advice - who wants to live with the previous owner's locks? There could be any number of people with keys to your new house!
    Originally posted by Mojisola
    Yes. Oddly, Ilocks points out the security risk of not changing the locks just 1 post earlier. They're obviously a bit confused.
    • glasgowdan
    • By glasgowdan 6th Feb 17, 10:50 PM
    • 2,194 Posts
    • 2,439 Thanks
    glasgowdan
    Who's going to spend money on a house they don't even own yet? Dafty
    • bestill
    • By bestill 7th Feb 17, 8:10 AM
    • 57 Posts
    • 995 Thanks
    bestill
    It might be possible for you to change the locks yourself once you've moved. My husband did ours, they were quite easy. Just buy them on the day you move.
    • Davesnave
    • By Davesnave 20th Mar 17, 11:11 AM
    • 22,378 Posts
    • 87,012 Thanks
    Davesnave
    Spammer, who doesn't know the difference between a conveyor and a conveyancer reported.
    Working subliminally.
    • ChrissieS
    • By ChrissieS 15th Jun 17, 11:34 AM
    • 26 Posts
    • 9 Thanks
    ChrissieS
    Hello everyone. I'm completely new to this thread and will have a good read when I get home. My flat's been on with an agent since end March and not sold. 11 through the door in the first 2 weeks, 2 came close to offering but then nothing for the rest of the time. I'm talking to a new agent this evening and we're going with a different approach - on all the websites for a week prior to an open Saturday. There is a charge for professional photography of £178 inc VAT. I think there would be benefits in using a pro as the original photos weren't great but how can I get the price down?
    • Davesnave
    • By Davesnave 15th Jun 17, 12:07 PM
    • 22,378 Posts
    • 87,012 Thanks
    Davesnave
    I think there would be benefits in using a pro as the original photos weren't great but how can I get the price down?
    Originally posted by ChrissieS
    If the person is really a pro, they won't turn-out for much less, but I would expect some consulation over the shots that will be used, not just "flash, bang, thank you m'am."

    It's more important that you make the job of the photographer easier by ensuring there's no clutter and a few uplifting things around, like fresh flowers in the house and a tidy garden, if there is one.

    Don't over-stage the place, though. The table set for dinner with wine glasses, napkins etc and the kitchen clock reading 11am just makes people laugh nowadays!

    Some people might add that the reason you haven't had an offer yet is probably because people have viewed your asking price in the same way as you view the photographer's fee, but I wouldn't be so rude......
    Working subliminally.
    • ChrissieS
    • By ChrissieS 15th Jun 17, 2:19 PM
    • 26 Posts
    • 9 Thanks
    ChrissieS
    Hi Dave. Thanks for commenting. Flat is ready for photographing. I've kept it neat and uncluttered, ditto the garden for nearly 3 months! Exhausting sometimes, esp as I work 7 days a week trying to save for moving. We're going to reduce the flat by £15K. I feel it became overpriced as the market has dropped. I do however believe it's worth £155K and hoping to get that as it's going on at OIEO £150K. I'm a realist and not greedy but I need to use the proceeds while maxing out on a mortgage to move up to a 2-bedroomed ground floor flat in a cheaper area and I'm on the absolute cusp of affordability (I have £60K to pay back on the current mortgage + £3K redemption). I will definitely be consulting over the shots and have researched and taken practice shots of my own to check good aspect etc - I overlook lovely woods so need to factor those in a lot. Thanks again.
    • ChrissieS
    • By ChrissieS 15th Jun 17, 2:24 PM
    • 26 Posts
    • 9 Thanks
    ChrissieS
    I would add that I live in an expensive city. My flat is a first-time buyers red brick purpose-built thing on a modern estate (37ish years old). £155K might sound like a lot I guess depending on where you are, but here in Bristol that's one of the cheapest for a decent modern flat and the location by lovely woodland is an amazing bonus.
    • tikabisono
    • By tikabisono 16th Jun 17, 3:03 PM
    • 1 Posts
    • 0 Thanks
    tikabisono
    i want sell my home..the place near with on the road,mall,and strategis place..if u interested chat me..
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