Selling privately: is it really that simple?

Shawn_Dark

Okay so I am a complete beginner but looking to sell my house in a month or so.

I have very little confidence in selling via an estate agent and so would rather sell privately. I would consider selling via auction (as I am looking for a quick sale) but still need to do more research.

After doing some initial research it seems as simple as advertising, selling, payments, setting dates, etc. and then the legal stuff via a solicitor (e.g. conveyancing).

Scenario:
Someone comes to see the house, agrees, sets a sale and move in target date, makes payment and the solicitors handle the legal stuff.

But is it really that simple?

Stanley_St

Well it worked that way for me. I got an estate agent to value it, but then didnt use the estate agents services after that. Everything went smoothly.

Depends how easy your property is to sell I suppose.

Shawn_Dark

Can you get free valuations?

G_M

Yes.

The agent has several main functions:

1) marketing. Finding you a buyer
2) keyholder - showing people round
3) negotiating. Acting as go-between on offer, counter-offer, price-agreement
4) invoicee - sending you a bill, and attempting to introduce the buyer to mortgage, survey, solicitor etc so as to send them a bill too

If you can do most of this yourself....

dryhat

Abu_Yoosha wrote: »

But is it really that simple?

Yes, it is that simple.

If you want to simplify even further and save some more money, you can do the conveyancing yourself and not even use a solicitor.

Shawn_Dark

Excellent!

dryhat

It should be pointed out though, that although you can do the conveyencing yourself, it can be a pain in the 4r5e if you don't know what you're doing.

When you factor in all the time and energy spent finding out what you have to do, and then all the time doing it and then all the time dealing with the queries that always arise, it can work out cheaper just to pay someone £500 or whatever and be rid of the hassle.

The whole "house-buying system" is set up to enable those in the industry to all have a little nibble at the pie.
But in reality, there is no reason why house sales (from offer to completion) could not be conducted within a couple of weeks or even days.

Shawn_Dark

Yes I probably will get my solicitor to do the conveyancing, although they took a few months getting my house sorted when I first moved in...

G_M

dryhat wrote: »

It should be pointed out though, that although you can do the conveyencing yourself, it can be a pain in the 4r5e if you don't know what you're doing.
Errrr... hmmm... yes! Just like if you do your own car maintenance; or decorating; or financial planning; or ........

When you factor in all the time and energy spent finding out what you have to do, and then all the time doing it and then all the time dealing with the queries that always arise, it can work out cheaper just to pay someone £500 or whatever and be rid of the hassle.
True. But add to that the feel-good factor of successful DIY, and the fact that you learn a whole lot more about your new home than you would by leaving it to someone else.

The whole "house-buying system" is set up to enable those in the industry to all have a little nibble at the pie.
But in reality, there is no reason why house sales (from offer to completion) could not be conducted within a couple of weeks or even days.

It can be done in a few days, but there are genuine reasons why it generally takes longer.

dryhat

G_M wrote: »

It can be done in a few days, but there are genuine reasons why it generally takes longer.

Such as...?

googler

Abu_Yoosha wrote: »

After doing some initial research it seems as simple as advertising....

Advertising where?