What is the Ultimate House Selling Process? Selling your house involves a number of procedures that need to be gone through. Some you can choose to undertake yourself and some may involve costs that vary, so make sure you obtain quotes before entering into any agreement.
The first decision to be made when looking at the house selling process is whether you plan to handle the sale yourself or appoint an estate agent. A traditional estate agent has a number of overheads associated with running their business, ranging from the cost of the premises, to cars and staff. Typically an agent will charge between 1.5% and 2% commission for handling the sale of your house – this means you will potentially be paying out thousands of pounds in commission to the agent you choose.
Using a good online estate agent enables them to pass on considerable savings directly to you, the seller.
An online estate agent can get you on average over £3000 over the course of the house selling process
An online agent can be more effective as they have a greater reach and most searches for buying property start online these days, and their costs are considerably lower enabling them to pass all these savings directly on to you, the seller. Typically an online estate agent’s charges will run into the hundreds compared to a traditional ‘High Street’ based estate agent, and they are becoming increasingly popular as a result.
If you decide to handle the sale yourself, you will have to decide how and where you are going to advertise your property for sale. The decision on whether to handle the sale yourself may also be dictated by how quickly you need to sell the property as established estate agents will have access to a far greater database of contacts and can strike a deal on advertising rates across the large ‘aggregator’ sites which may not be accessible or affordable for the private individual.
You will also be responsible for deciding on the market value of your property, assessing if it is fit for sale or needs any work (who wants to spend money unnecessarily? On the other hand, we become blind to faults after a while and what appears acceptable to us may, in fact, be a complete eyesore to someone considering buying the property).
You may be eligible for a loan if you are selling in WalesIf you are selling in Wales, the Welsh Government scheme, Houses into Homes can provide a loan to enable a property to be made fit for sale. Applications are made through the local authority. More information about the scheme is available on the Welsh Government website at: new.wales.gov.uk. (check if the scheme is still running).
You will also be expected to handle all surveys, negotiating with potential buyers directly and handling any legalities which are directly associated with the sale of the property.
If you decide to appoint an agent it is useful to look at what type of property they specialise in, see if they know your area and find out what references they can provide.
Estate agents can be appointed either as a sole agent, or joint sole agent or, if you are having difficulty selling the property, agents may be appointed on a multiple agency basis in which case expect fees to be higher.
When you think you have found a buyer, you will need to assess if they are the best buyer for you. Take into consideration such factors as whether they are a first time buyer, a cash buyer, or are in a chain and, if so, how long is the chain? It is illegal to refuse to sell your house to someone on the grounds of race or religion.
A Licensed Conveyancer or Solicitor is required in order to finalise the legalitiesYou will need to appoint a solicitor or, if you are in England or Wales, a Licensed Conveyancer, to undertake the legal work – this aspect has to be done by a qualified professional.
So, all in all, there is quite a lot to consider and when you take into account just how much a property is worth, then the fees you will have to pay to ask an agent to oversee the house selling process, suddenly seems very reasonable and even more so if you use a reputable online estate agent such as Zevizo Properties.
We pass savings directly on to youContact us today for a free, no obligation, chat about selling your property, what’s involved and what the likely charges are. Any savings we pass on to you can be put towards a new carpet or white goods or a holiday – much nicer things to spend your money on once you’ve bought your dream home! We hope you enjoyed the article “The Ultimate House Selling Process: Make More Money!”