Selling Your Home Yourself

Selling your home yourself

In these days of negative equity anything a home-owner can do to save money when selling their home must be a good thing. Many sellers are now opting to market and sell their own home, saving anything from 2% to 5% of the sale price in estate agency fees.

It sounds like a no-brainer, but it has to be said that an estate agents job is not always simple. But for those homes with a simple paper trail, it is certainly possible to do it yourself. It just means that the seller needs to be both organised and willing to negotiate.

• It is worth realising that there is no legal requirement to have an estate agent. You are quite within you rights to sell your own home
• You need to be willing to get experts such as solicitors and surveyors on board at the right times and these will cost.

Price

Do your research to determine what price your home should realistically sell for. Try websites such as Rightmove and local papers to work our what homes similar to yours are selling for. Be objective. You can even get a valuation form an estate agent for free.

Advertising

Get your home on the pages of every newspaper in the area, bulletin boards in supermarkets and on internet sites specialising in selling your own home. The latter may charge a small fee for insertion, but it can be worthwhile. Always use a photo and in colour. Ensure that everything you say about your home is accurate, right down to the size of the rooms etc. Make up leaflets to give to viewers including all particulars.

Boards

It is estimated that 50% of homes sell due to the “for sale” board placed outside. You can make your own or ask a sign writer to do one for you. Include a phone number and specify that appointments must be made. The last thing you want is all the neighbours knocking on the door for an impromptu viewing.

HIPs

These are now a legal requirement for the sale of all homes and must be accurate. An HIP provider can do it for you. But it is simple to produce yourself. All title deeds and planning documents must be included (these can be ordered through a conveyancing solicitor) as well as details of any electrical work or building work which has been done to the home. An energy assessment must also be included which can be performed by an assessor. Take the time to ensure your HIP pack is as detailed as possible and use online resources to ensure it is correct.

Solicitors

Once an offer has been made on your home and you are happy with the price, it is time to instruct your solicitor. They will do the conveyancing part of the sale, but you will be expected to keep the buyer informed of the process and what steps are being made. You may also find you are dealing with their solicitor, the bank, passing on messages to the buyer and so on. This part of the process is long and stressful. Be aware that a solicitor may not be used to dealing direct with the seller and may not wish to accept your sale.

Above all, read everything you can lay your hands on about selling your home before you start. An estate agent has learned by experience and it is quite possible to learn those skills by simple research.