Do i need to go through estate agent

bunnydrumming

My house has been on the market with an estate agency for 10 months with only around 10 viewings and no following interest.

A friend told her friend about my house and she came to see my house and loved it.

My question is do i need to go through the estate agents or can it go through as a private sale. what are pros and cons of selling it myself or telling estate agency about interest.

dekh

Did you sign up to an exclusivity contract with the estate agent? Did it expire? If so, no agent fees could be in the offing.

If you can't find your contract ask the estate agent for a copy. Make sure it's the one you signed. See if you are out of contract.

Let us know how you get on.

I can't see much cons - you'll have to do the showings/advertising/public facing yourself. Oh wait, sounds like you've done that.
Pros, no % cut to the agent, that should make up for any additional hassle.

rdpro

Generally speaking, EA contracts are 1/2 months max, so just politely tell them you're withdrawing from the market.

If you really want to save money, and have saved all paperwork for any work done/deeds/searches on your own original purchase, etc., consider doing a 'Transfer of Equity' arrangement to cut solicitor bills too. It doesn't fit all house sales (esp if there's a mortgage involved), but worth investigating as you could save 3/4k between buyer/vendor on solicitor fees.

I just did it, buying my friend's parents house - total legal cost, 400 quid, including indemnity policies.

dekh

rdpro, can I just ask what are indemnity policies?

Jorgan_2

dekh wrote: »

Did you sign up to an exclusivity contract with the estate agent? Did it expire? If so, no agent fees could be in the offing.

Most estate agent contracts do not expire, they have to be terminated by one party giving the other written notice.

OP, if you have signed a sole agency agreement you should have nothing to worry about. If you have signed a sole selling rights agreement, this would mean the agent is still entitled to a commission, even if you find a private buyer. In this instance, get the EA to confirm in writing that the property has been taken off their books & the contract terminated.