A 7-Step Guide To Selling Your Home Privately

Last Updated on April 1, 2022 by Carl Jensen

1. Decide On An Asking Price

Let no realtor convince you that you should not set an asking price for your house, that it is best left to a professional that understands the real estate market. You can do it if you take the time to do some research. Get online and visit different websites like Zoopla and Rightmove to find similar properties on sale within your neighborhood or town. Also, review the sold prices since the asking prices and the eventual sale price often have a disparity.

2. Give Your House A Spruce-Up

Time is money, and it is something worth keeping in mind when selling your property privately. Pre-sprucing your house by giving it a fresh coat of paint and fixing rundown fixtures and fittings will help you land a quick sale. That means you will avoid spending valuable time showing potential buyers your home.

3. Start Advertising Your Property

Studies from Newcastle University suggest that more homebuyers in the UK opt to move three to six miles away from their current homes when relocating. It means that the most probably buyers who will show significant interest in your property will be from your neighbourhood or town.

It would be best if you considered putting up leaflets in your block and the nearby streets. Also, past ads on the noticeboards in the local malls and supermarkets leverage word-of-mouth and share the same details on the online community forums. They might seem unorthodox marketing methods, but they are very affordable and effective.

Since we are in the digital age, people searching for properties to buy will do so online to find appealing properties. Zoopla and Rightmove are two prominent property portals worth checking out. However, you will not list your property directly if you are selling it privately. Still, you can work your way around this by hiring online estate agents to market your house on these portals.

4. Arrange Viewings

Ideally, the realtor organizes viewings, but this will become your responsibility if you opt to go the private route and sell your home yourself. If planning for viewings is a challenge, then enlisting a friend’s help to show interested buyers around the property could solve your problem.

5. Negotiate A Price

The objective is to set the least amount you are willing to accept if a potential buyer wants to haggle. It means that you should be ready to discount your asking price. Still, you also can turn down offers that do not meet the cut. However, do this in a friendly way. Be cordial when turning down a buyer, so they know that the door will be open for them increase they want to come back with a better offer.

6. Accepting An Offer

Since it is common for buyers to negotiate for a better price, the agreed amount and sale approval are first done verbally. However, it also is wise to request the interested buyer to send or email you a written confirmation, though nothing will be legally binding until money and contracts are exchanged. The goal is to have a substantive paper trail.

7. Instruct A Solicitor Or Conveyancer

After accepting an offer, you will need to hire a conveyancer or solicitor. But let this be an informed decision. Take your research online and inquire from family and friends regarding the best recommendations, as you also reach out to a few reputable professionals with interests in real estate.

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