In the autumn of 2009, Eddie and Sheila Saunders had been thinking about selling their vacation home in Worcester. They were, just like so many folks, feeling the depression, and had to raise some money. But they were also anxious to do it in the most cost-efficient way.
The query on their mind was, "Can I sell my house quick without help from an estate agent?" The couple didn't know for certain, but they made a decision to try.
"It was a gamble we were content to take," expounded Eddie, "because if that meant a saving of thousands of pounds on estate agent commissions, it'd be worthwhile especially in this down market."
In the United Kingdom, approximately 7 p.c of houses or 84,000 homes are sold privately. But that figure, as Mark Parkinson, director of property expert Middleton Advisors, informed the Times, is rising.
"Recessions inspire people to go off-market because they can sell without publicizing the incontrovertible fact that they have were made redundant, are divorcing or being chased by their banks," said Parkinson.
The Thompsons spent a whole summer vacation fixing their vacation home, showing it and dealing with prospective buyers. It wasn't till half a year later when they were able to eventually sell the house, but they were able to do it. So While it requires a lot of hard work to be able to sell a house secretly, it can be done.
Here are six tips that could help guarantee a successful sale without the use of an estate agent:
1.Sell to a money house buyer.
You don't need to hang about for half a year like the Saunders if you truly want and need to sell your home quick. You can save on estate agent commissions, legal fees, and home staging costs, redecorating costs etc, and at the same time complete the sale of your place in just a few days if you sell to a cash home buyer. If you're in deep money difficulty, are facing repossession, have to reposition, or are stuck in a chain break, then you might need to sell your home fast. In any of those examples, only a money home buyer will be in a position to move fast enough to be able to help you.
2.Do Your Analysis
If you are not considering selling to a money home purchaser, then your primary step should be to familiarize yourself with the property prices in your area and the ins-and-outs of selling property. Study all the paperwork and contracts on your home. Learn the language of the housing market, read and consult Google.
Make sure you have all of the forms prepared for the closing of the sale, including property records and title, insurance documents, and legal documents. Also find folks who can help you in the process- solicitors, valuers and so on. And finally, think about how you would like to structure the deal, like maybe offering lease options, for instance.
3. Prep your house for viewings.
There are things you cannot change about your home. If it's a high-falutin pad in the best surroundings, then great, but if it's beside a run down derelict building, what can you do? There are plenty of things you can do to boost your house, and hence improve the chance it is going to be sold.
You do not have to go mad renovating the whole house, that's just pointless spending on your side. Begin with the exterior. Nobody is going to want to look inside if the exterior is uninviting. Known as 'curb appeal ', it may be worth landscaping your front grass and repainting your place. It's also important to check home appliances like boilers and central heating, and other items like the roof, and flooring are in good shape. Ensure the house is clean. Get rid of all of the litter. Buyers would like to see a bright and spacious home.
Finally, try hanging a classic celebrity portrait or other item of interest in an unsubtle area. Not so much for ornamental purposes but as an icebreaker to prompt friendly conversation and accord building.
4.Price your home right.
One of the worst mistakes homeowners wanting to sell their houses secretly is pricing their home too high. Doing that shocks off potential buyers. The secret is to set a pragmatic asking price for your home. There are many paths to worth your home yourself using the web.
Web sites like rightmove.co.uk will help you to find equivalent properties in your neighborhood and see how much they have sold for. Just enter the postcode and press the for sale button. In the drop down box select the following options: enter search radius, number of. Rooms and property type. Choose the 'include under offer, sold STC,and reserved properties ' and then simply click find properties.
Myhouseprice.com and nethouseprices.com will give you costs for properties sold with information straight from the Land Registry. This information can be up to a quarter old though but it's a handy starting point, really the same place to begin a surveyor will use.
5. Market your house.
The web has opened a totally new world of possibilities when it comes to promoting a place. You can still go the conventional route, i.e classified advertisements," for sale" signs, flyers and posters, but why not post an advert on Craigslist? Or make a video and post it on YouTube? These internet sites get plenty of traffic and cost nothing at all. You can also spread the news on social network websites and forums. There are even online realtors who charge a relatively tiny amount to list your home in property portals.
6. Be prepared to negotiate on cost.
Even though you believe you have set a fair price, buyers will necessarily need to haggle for a lower price. Have a net result that is backed up by powerful research, and calculate in the cost of continuing to market the house. If you think that you can not deal with it yourself, think about getting the help of a property solicitor.