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Selling a house to a friend
ThrobsBlackHat
Posts: 181 Forumite
Hi, just after some basic advice really.
I may be moving house and have a friend who is very interested in buying my current property, worth approx £150k
1) Will I still need a home information pack?
2) Is it difficult to sell a property without the help of an estate agent?
My hope it to split the saving from the estate agent to help pay for other fees. What sort of figure do I need to budget for the actual cost of moving without using an estate agents services?
I may be moving house and have a friend who is very interested in buying my current property, worth approx £150k
1) Will I still need a home information pack?
2) Is it difficult to sell a property without the help of an estate agent?
My hope it to split the saving from the estate agent to help pay for other fees. What sort of figure do I need to budget for the actual cost of moving without using an estate agents services?
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Comments
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Probably wont be a friend in the future if the market value falls below price that you sell to them.0
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ThrobsBlackHat wrote: »Hi, just after some basic advice really.
1) Will I still need a home information pack?
2) Is it difficult to sell a property without the help of an estate agent?
My hope it to split the saving from the estate agent to help pay for other fees.
Easy ones first. (We really need a sticky for these.)
If your friend asked you if your house was for sale then it's a private sale since you did not 'market' it. In this case no HIP is required.
If you told your friend that you might be selling, then this is marketing and a HIP will be required. Prices for HIPs quoted in these threads range from £199 to £400+VAT. Government figures quote £3-400 with most at the bottom end of these. If you're avoiding Estate Agents then you will not be sucked into their (sometimes expensive) deferred HIPs payments or so-called 'free' HIPs. Look for the Association of HIPs Providers website for a list of approved suppliers.
You do not need an agent at all to sell to a friend, just a solicitor for the conveyancing. This CAN be done DIY but not many people will recommend this (Although a few people here will and I expect a flurry of replies!) The solicitor will take care of the whole of the process BUT think twice about getting a HIP through them. Some will offer a 'cheap' HIP but the real cost is hidden in expensive conveyancing. Also vice-versa their own HIP could be heavily marked up and hidden in the costs. remember to break out the HIP cost.0 -
pickles110564 wrote: »Probably wont be a friend in the future if the market value falls below price that you sell to them.
Why? I am not to blame to the credit crunch.0
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