Selling without an estate agent

Boogo

Hello All,

I have tried to find an answer to my query but I can’t seem to properly express it!

I wonder if anyone can help. I have found a buyer for my property without using an Estate Agent. However now I have come to find a property myself Estate Agents from properties I am interested, in seem wary about my situation. I’m not sure if it because we haven’t used an Estate Agent or there is some other issue that causes them concern. I have seen our buyers’ mortgage in principle and are confident my buyer has the funds (on a side note I have read about Estate Agents being required to do anti-laundering checks. If we are selling the house ourselves, what are we expected to do?).

Thank you in advance.

Seashell517

Are solicitors instructed? That's probably the best way to confirm your situation is valid. They would usually want a memo of sale from the agents, but I'm sure if you explain the situation then they tell you what they would need instead.

Mutton_Geoff

How far advanced with your sale are you? Estate agents don't have any legal position, as long as you can persuade them you are a proceedable buyer, then off you go house hunting. I'm currently looking and just gone under offer and have spoken to a couple of agents, none asked for any "proof". Maybe you should act a bit more confidently with them as if you had £20 notes hanging out your pockets?

eddddy

Have you instructed your solicitor regarding the sale? Has your solicitor been contacted by the buyer's solicitor?

If so, ask your solicitor to write a letter, maybe addressed "To whom it may concern" confirming details like:

• You have instructed them to sell your property
• The name of the buyer
• They are in contact with the buyer's solicitor

If you show that to EAs you speak to, it might reassure them that you are proceedable.

But they might still have concerns about "sales progression" if you get an offer accepted. The EA will chase you to 'get a move on' and to try to navigate around problems/renegotiations etc.

But who will chase your buyer, and help them navigate around problems/renegotiations etc? The EA might be worried that you won't do a good job, which risks the chain falling apart, and/or they end up having to progress your buyer as well as progressing you - i.e. double the work.


(But there might also be a 'EA professional superiority' thing - where EAs are sneering of people who sell their own property.  Like some plumbers would sneer if you showed them some DIY plumbing you had done.)

eddddy

... and regarding the Money Laundering checks. The legislation lists organisations that need to do money laundering checks on their customers. They include Estate Agents, Lawyers, Financial Institutions, Auditors, Accountants, Casinos etc.  Presumably you're not any of those, so you're not required to do any Money Laundering checks.