Category: Selling

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What Does SSTC Mean?

What Does SSTC Mean?

Looking at what SSTC means in a property sale means, what happens if a house is sold subject to contract, and how it can affect both buyers and sellers.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

Whether you are buying or selling a home, the term SSTC is one that you need to get familiar with. Whilst you may have accepted on offer, or had your offer accepted, there is still a long way to go in the house-buying and selling process. 

 

But what exactly does sold STC mean and how will it affect your sale? 

 

In this blog post we will be looking at what sold subject to contract means, how it can affect you as a buyer and as a seller, and what it means for your house purchase or sale. 

What does SSTC mean?

If a property is marked as SSTC or as STC it means the same thing, that property is ‘Sold Subject To Contract’ and that the owner of the property has accepted an offer but it is not yet legally binding. After a property has been marked as SSTC the seller and the buyer will begin the conveyancing process and put in the groundwork towards the exchange of contracts. Up until the contracts are exchanged either the buyer or the seller can pull out without legal consequences. 

 

 

When it comes to the cost of the property, the price may have been negotiated before or this may happen whilst the property SSTC. This could be the result of an issue pulled up in the survey results. It is also worth noting that some estate agents will use the term ‘sale agreed’ instead of sold SSTC. 

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What does sold subject to contract mean for the buyer?

If a house is sold STC, it means you have made an offer on a house and that offer has been accepted by the seller.  After your offer has been made and accepted, it is time to instruct your solicitor. One of the first steps of this process involves your solicitor examining your draft contract and supporting documents and raising any enquiries you may have with the seller’s solicitor. You will need to look over all of the forms that your seller will have completed, and pass on any concerns or questions you may have to your solicitor. Your solicitor will be able to apply for the necessary property searches when you purchase a property, regardless of whether it is stc or not. 

 

At this stage in the buying process, it is also a good time to book a house survey to. Not only will it show the seller that you are a committed buyer, but it will also highlight any issues in the property before you are legally committed to buying it. 

 

It is also a good idea to get the property listing marked as SSTC as soon as possible as this is a good way to avoid gazumping. 

What does sold subject to contract mean for the seller?

If you are a seller and your property is SSTC, then you will have accepted an offer on your house. Once the buyer has provided here proof of funds, you will be able to request that your home is listed as SSTC. Your property will still appear on property portals unless the buyer requests that you remove the property from the site and you agree. Once you have listed your home as SSTC, a ‘ sold STC ‘ sign will replace the ‘For Sale’ sign outside your home. 

 

Whilst you may have a buyer in the pipeline, the work is far from over. There will still be various forms, documents, questionnaires, and paperwork that will need to be filled out, and you will need to provide the buyer with all the information about the property and the sale. 

 

You will also have to negotiate the draft via your solicitors, as well as work with the buyer to decide upon a timeline between exchange and completion as well as fixtures and fittings will be included. 

Can I make an offer on a house that is SSTC?

If you find the property of your dreams, but it just so happens to be a house that is sold stc, then fear not. Whilst the seller has accepted an offer, it does not mean they wouldn’t be open to a higher offer. Estate agents are legally obligated to pass on all offers unless the seller has asked them not to do so.  If another party swoops in and offers a higher price for a property when an offer has been accepted, it is called Gazumping. It is not a particularly nice or fair tactic on the housing market; however, it is incredibly common. 

 

 

When a property is gazumped, it is usually because a higher offer has been made, however, this is not always the case. Gazumping can also occur in house sales where timing is becoming an issue. If your solicitor is dragging their feet, or if selling your own home is taking longer than anticipated, you may find the seller accepts the other offer in favour of a buyer who is in a better position. 

 

 

As a sale is not legally binding until the exchange of contracts, which occurs quite late in the house-selling process, buyers can find themselves out of pocket the later on in the process that they are gazumped. This is why it is a good idea if you live in England or Wales to take out home buyers insurance to protect you in case your dale should fall through. 

 

 

If you spot a property that you like, you should register interest in the property with the estate agent in case that the sale should fall through when it is SSTC. According to data from Rightmove, around “15% of Sold STC or under offer properties” are back on the market after the sale falls through.

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Can I avoid Gazumping?

Whilst unfortunately there is no sure-fire way to guarantee that you won’t get gazumped, there are steps that you can take to help lessen your chances:

By taking the property off the market, you are reducing the number of potential buyers who may see it and gazump you. However, sellers are not always keen to do this so it is wise to offer something in return, such as getting the survey done as soon as you can. 

Acting quickly and being prepared are two of the best ways you can help to protect yourself against gazumping. Before you go in with your offer, it is a good idea to have your mortgage in principle finalised, as this will show the seller that you are a serious buyer. You should also have your conveyancing solicitor lined up and ready to go, as well as keeping all the necessary documentation you may need to hand. Once your offer on the property has been accepted, you should aim to keep in regular contact with both your conveyancer and mortgage broker so that your case progresses as fast as possible. 

As we have already mentioned, insurance is a great way to help protect you in case the worst-case scenario does happen. By taking out home buyers’ insurance, you will be able to recoup some of the loss you will face for surveys, solicitors fees, and any other costs you may have had to pay. 

 

Can a house that is sold subject to contract fall through?

As with any house sale, the sale of an SSTC property can fall through. Some of the most common reasons why an SSTC or sold STC property sale may fall through is because: 

  • The buyer cannot secure a mortgage 

  • The buyers’ property chain has collapsed 

  • Unforeseen problems have been highlighted in the housing survey 

You can help to avoid your property sale falling through by being clear and open upfront about the condition of the property, whether you are in a housing chain or a cash buyer and answering any enquiries as promptly as possible. 

How long does it take to go from sold STC to completion?

According to data from Rightmove, it takes an average of 150 days from when a property is marked as ‘sold subject to contract’ to reach completion. This figure is not set in stone though, as how long it takes to complete the sale will depend upon a variety of factors, such as how long it will take you to arrange your mortgage, how long it takes property searches to come back, and how complex your property chain is. 

How we can help

Whether you are trying to buy a house that is SSTC and need your own property selling quickly, or you are looking for your next property whilst your is STC, then we are here to help. Here at The Property Selling Company, we specialise in fast, effortless, and free sales, because we believe that buying or selling a home shouldn’t be complicated. 

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete. 

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free! 

 

So, if you are looking at purchasing a house marked as SSTC, or you are looking to find your next home, we can help you get sold in as little as 28 days! Fill out one of our fast, free, no-obligation forms for your house valuation today!

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Selling A House For Cash: Is It A Good Idea?

selling a home for cash

Selling a house for cash: Is it a good idea?

A third of all house sales are done via a cash buyer, but are they a good idea for you? Find out below for more…

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Selling a house for cash: Is it a good idea?

A third of all house sales are done via a cash buyer, but are they a good idea for you? Find out below for more…

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Table of Contents

Selling A House For Cash: Is It A Good Idea?

If you are wondering if selling to a cash buyer is a good idea in England and Wales — you are in the right place! In this article we will delve into all things cash house buyers.

What Is A Cash Buyer?

A cash buyer can finance their purchase of your property outright, with no requirement for a mortgage or loan. Technically speaking, a cash buyer should have enough money to buy your property at the time of offer. 

 

Cash house buyers account for a third of the residential property sale market and are often a good choice for people struggling to sell on the open market or have hit unforeseen circumstances and need to sell quickly.

Is It Illegal To Sell A House For Cash?

It is an entirely legal process to sell your house for cash in the UK, but we recommend that if you choose this path, you choose a cash-buying company with excellent reviews and a reputable track record.

Should I Use A House Buying Company Or An Independent House Buyer?

As with all aspects of the property market, there can be high risk as some cash-buyers aren’t members of the National Association of Property Buyers (NAPB) or The Property Ombudsman (TPO), which help regulate the market and protect customers.

 

Obviously, we would recommend that you use neither and choose us instead! We can sell your house in a fraction of the time of a traditional estate agency and cover all your costs! We are also members of NAPB and TPO, ensuring that our level of customer satisfaction is excellent at all times.

Why Would Someone Sell A House For Cash?

Selling to a cash buyer is often seen as the fast-track way to sell your house, as there’s usually less paperwork, and you aren’t waiting on any property chains on the buyer’s side. There are many reasons why someone would want to sell their house for cash, but the process comes with high risk.

 

This is why in most cases, cash buyers will buy significantly below market value to renovate the building against the remaining value:

If someone tries to sell on the open market, occasionally buyers may be put off by a properties location as a mortgage lender can refuse to lend if the property is seen as undesirable or unsafe due to:

 

  • Close to old or unsecure mines.
  • Land with risk of a landslip.
  • The property is a formal petrol station.
  • The property is in a high-risk flood area.
  • The area has a high crime rate.
  • The site has previously been used for industrial purposes. 

A property can put potential buyers off if revealed as damaged in any surveys. Damaged properties can come in many different forms, like Japanese Knotweed, Dampness and Structural Issues:

 

What Is Japanese Knotweed?

 

Japanese Knotweed is an unstable, rapidly spreading weed that can grow through solid ground and disrupt house foundations. Mortgage providers will not lend on a property that has Japanese Knotweed.

 

What Are Structural Issues In A Property?

 

Structural issues like roof damage, subsidence or severe dampness can lead to a need for serious investment which is why these properties are often sold to cash buyers below market value. This will allow cash buyers to spend the remainder of the weight on the property’s renovation.

 

Houses built before 1960 are often classified as older buildings, older than 1914, and will be listed property. Most older buildings are the preferred choice for cash buyers because they have deteriorated conditions or the energy efficiency is significantly below the norm, meaning they can buy below market value.

By selling to a cash buyer, you can sell your property for between 7 days and multiple weeks — depending on the company’s professional service.

 

Selling to a cash buyer may be a great way if someone needs to sell their property quickly, like to stop a repossession.

Infographic showing all the reasons why someone would sell a house with a cash buyer.

What Types Of Vendors Seek A Cash Buyer?

A vendor can be a person or company offering a house for sale, and usually, when it comes to obtaining a mortgage, using a cash buyer can be one of the best routes to purchase. 

 

Here are some of the main reasons why cash buyers affect mortgage decisions:

This is why in most cases, cash buyers will buy significantly below market value to renovate the building against the remaining value:

A mortgage lender will not agree to lend any money until they can confirm that the property is sound and that the borrower can meet their repayment obligations — which is quite time-consuming. 

 

Usually, a cash buyer already has the funds available at the point of offer, removing the need to wait on a mortgage.

Legal mortgage providers cannot offer a mortgage to a borrower they don’t trust to make the mortgage payments. When a mortgage lender turns a potential buyer down, vendors face a conundrum: they must put their property back on the market. 

 

This is why vendors tend to use cash buyers for the purchase of their homes as they attempt to avoid a broken property chain.

What Is The Process For Selling Your House For Cash?

The process of selling a home to a cash buyer is similar to the traditional route of selling a property without the need for arranging a mortgage. The sale process is often favoured due to its quick house sale approach.

 

The actual procedure will depend on the company or cash buyer you decide to use, but here is a general guide:

Most online cash buyers have a website where you can sign up and fill out a few forms. Alternatively, if you choose an independent cash buyer, they may have a phone number to ring. 

 

We recommend constantly checking their Google or TrustPilot reviews to get an accurate and recent overview of the companies and help you avoid scams.

Most cash buyers will then offer you a cash offer for your property based on statistics and their own going rates. They should usually be below market value, but some companies will give you market value and then reduce the costs later — sneaky!

 

At this stage, you must ask for proof that they are a genuine cash buyer and have the funds in the bank to pay for your property via a bank financial statement. If the buyer cannot prove they have the funds in the bank, they are not a cash buyer.

Once you have accepted your offer, a cash buyer should then visit your property and be able to inspect the property and undertake a property valuation — finalising your offer. 

 

Although cash buyers do not need a mortgage valuation survey, they may still opt to have a survey completed; this will usually be covered for you or part of a package. 

 

If a cash buyer does not opt for a survey, this can be seen as a red flag, as when problems arise later down the line, they will try to reduce the purchase price.

Depending on the cash buyer, you will either have to instruct your solicitors or the cash buyer will handle this for you. The solicitors will arrange searches and professional valuations of your property.

 

The searches of your property will include a Local Area Search, Regulated Drainage and Water Search and Land Registry Title Plan.

Once all the legal work has been completed, you can look to exchange contracts. This is the point at which the process becomes legally binding. Again, depending on the cash buyer, you may also be able to complete it at this stage, although most like doing it on a timescale that suits them.

Questions For Genuine Cash Buyers

If you decide you want to risk it and sell your property via cash house buying company then here are some questions you can ask to ensure they buy your house smoothly:

Genuine cash buyers will be able to provide you with proof of funds — legitimate house buying companies should be aware of this concern and factor it into their service. Proof could be provided either as a bank statement or solicitor’s letter.

Genuine cash buyers will know exactly what kind of properties they are looking for, they will often have investors or themselves who specialise in a certain type of building. If your cash buyer is uncertain then this could be seen as a red flag.

Some non-genuine cash buyers will buy property on behalf of third parties so it’s important to check that you aren’t signing an option agreement. This will tie you into working with the company for a specific amount of time. 

 

Although, this rule doesn’t apply if the cash buying is buying property for another branch of its company.

A genuine cash buyer will have a thorough understanding and process to buying your property as they will have a proven track record. If the cash buyer you are enquiring with does not have a process in mind then this should be flagged as a possible scam.

Most reputable property selling and buying companies will be members of professional bodies like the National Association of Property Buyers and The Property Ombudsman which help regulate the customer service experience of cash buyers.

If you don’t want to bother with the risk of a cash buyer and want a smooth, hassle-free house sale for almost full market value then get in touch today!

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Is It Better To Sell Your House To A Cash Buyer?

It depends on your situation and timeframe. If you are in desperate need of cash to stop a financial crisis like repossession or divorce, then using a cash buyer can be a viable option. 

 

But, you must know that a cash buyer will buy your home for Below-market-Value, up to 25%, depending on the cash buyer. Some cash buyers will slam you with additional packages, which are necessary for selling your property.

Is It Good To Sell A House For Cash?

Selling a house for cash can be good in some circumstances. The majority of people who benefit from a cash sale are often:

Selling a house for cash means that people can receive access to money and fast to clear their debt or arrears. This is done by a fast house sale allowing the seller to withdraw their equity and cover their debt.

Selling a probate or inherited property can be extremely overwhelming, but selling to a cash buyer can ease the process by speeding up the process.

Some people undergoing or have just gone through a divorce may want to sell their homes and move on positively. Cash buyers can aid in this by providing a faster-than-average sale.

Are There Any Disadvantages To Selling My House For Cash?

There are plenty of disadvantages to selling your house fast, especially when you compare the services to a company like ours.

 

The main issue with selling a house for cash is that you will be dealing it below market value — with some property cash buyers, this can be up to 25% of your home. That’s a significant mark on the value you will receive. If you sold your house with us, you would receive the total selling price of your property. 

 

Some cash buyers drive such a hard bargain on your property because they take advantage of your situation. Which is partly due to the fact that cash buyers are not regulated like estate agents.

 

We recommend that you ensure the cash buyers are members of the TPO or NAPB and you look at their online reviews to catch any scams. We will work with you on a timescale that suits your needs to ensure you are looked after at every step. 

 

Gazundering is a massive issue in unregulated cash buyers as they reduce their offer on your property right at the last minute, which will force you to accept the lower sale price or pull out the deal altogether. 

 

Cash sales can still fall through, like most other avenues to selling. Usually, they can fall through when the survey reveals problems in your property. Instead of dropping out of the sale, we will help you find a new buyer specialising in problematic properties — also, surveys are on us!

 

One of the cash buyers’ most prominent attractions, it’s faster-than-normal sale can also be one of its flaws. We agree that in some circumstances, like a repossession or financial emergencies, this can come into clutch, but on the whole, most cash-buyers aren’t faster than us. 

 

Unlike most cash buyers we will also help you buy properties as an onwards purchase. We have hundreds of properties available on our database so we can help you buy another property without all the hassle of using traditional estate agents.

 

We can buy your property in as little as 28 days and cover all the costs usually associated with selling your house, from surveys to marketing. If you can afford to spend slightly longer with us, you could gain up to 25% more than you would have got with a cash buyer.

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Sell And Buy A House: How Do I Do It?

Sell And Buy A House: How Do I Do It?

Looking at how you can buy and sell a house at the same time, whether it is better to sell a property first or you should buy a house first and how an estate agent can help.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

Buying or selling a house can be a difficult business when done individually, let alone if you find yourself in the position of buying and selling a house at the same time. The process involves paperwork, estate agents, solicitors, and more, and it can be easy to find yourself feeling overwhelmed fast. 

 

In this blog post, we are going to be looking at what it means to be both a buyer and a seller on the open market, the advantages, and disadvantages of selling or buying first, and how you can give yourself the best chance at a stress-free sale. 

What are buyers categorised as?

When it comes to selling your house, chances are you will be categorised in one of four ways by any potential estate agents. 

If you have already sold your property and have moved in with family or friends, or to a rental property then you will be in a great position as a buyer. As you have already sold you will know exactly what property you can afford to purchase, there will be no property chain involved with you and you can proceed with the sale immediately. 

If you are classed as under offer when looking for a new house, then you will also know exactly what your budget is. Whilst deals can still go under during this stage of the process of selling, it is still a good position to be in. 

If you have a property to sell on the market this means that whilst you don’t have any offers yet, you are still ready to get the ball rolling. You may not be taken quite as seriously as they may take those who have no property to sell, or who are under offer, but you will still be viewed as a motivated buyer. 

 

Estate agents may take into consideration the following: 

 

  • How hot or cold the market is at the minute 
  • If you have set a realistic asking price 
  • The length of time you have been on the market 

Often regarded as the weakest position a buyer can be in, being classed as having a property to sell will mean that your home is not yet on the market, but you have the intention to sell. If you were to make an offer on a property at this stage of the selling process, many estate agents would advise their clients to reject your offer altogether due to the fact that you will have no idea about your true buying price at this point.

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Advantages of selling a house first

  • Easier to secure a mortgage – If mortgage brokers do not have to service your old mortgage, they will be more likely to offer you a new one. Once you have sold your old property, it is a much simpler process to apply for a new mortgage, rather than waiting for your old one to run over. 

  • Not sale dependent – If you find the net home you want to buy, but another buyer shows interest as well, having sold your old property first can go in your favour. Sellers will mark you as “non-sale dependent” and will be more likely to sell to you as you won’t be stuck in a property chain and do not need to sell your current property to purchase your next one. 

  • Less stress – As you will have already sold your first property, you will only have to focus on the house purchase, rather than dealing with the very stressful situation of selling your old home whilst buying your new one. 

  • More time – When you sell first, you allow yourself more time to find the best property that you can. Because you are not having to worry about selling within a certain time frame or worrying about getting the asking price you want, you can focus fully on finding the perfect home for you. 

  • Maximum bid – Once you have sold your current home, you will know the exact budget that you can afford for your next home. You won’t have to worry about being able to afford the property as you will have the amount you can afford in the bank and will know exactly how much you can bid. 

  • No onward chain – If you are planning on buying a new one after selling your present property then that means that you don’t have to waste time stuck in a chain, waiting for the next sale to go through before you can start yours. 

Disadvantages of selling a house first

  • Offer acceptance – Because you are in no rush to find your new home, it means that when it comes to accepting offers you can find yourself taking your time, looking for the best one. Whilst this is all well and good in theory, it can mean that you find yourself stuck in limbo, not leaving the offer stage for quite some time. 

  • Rising market prices – Another downside that you will need to consider when selling your house first before buying is that the market is volatile and prone to change. You may find yourself having to settle if the perfect property does not crop up in time due to rising values. 

  • Finding accommodation – The biggest downside to selling your property before buying is that you will be left without accommodation after the sale has been completed. You will need to find somewhere to stay whilst you look for your new property. This can mean staying with family, friends, or maybe renting somewhere. But it is worth bearing in mind that you could find yourself displaced for quite some time and the minimum rental contract is usually around six months.

Problems that can occur when buying and selling a house

As with any house-buying adventure, when it comes to buying a property and selling your old home at the same time, problems can occur. Chances are you will be in a housing chain, which means you will be reliant on someone else in the chain buying another property in order for you to buy yours. 

 

Some of the most common issues that can arise in this situation include: 

When you decide to buy your new property and sell at the same time, you will need to factor in mortgage applications and how complicated they can become as they can often take longer than expected.  

Survey findings can have a large impact on buying a new home and selling at the same time. If an issue is discovered with the property, it can cause delays or even the collapse of a housing chain. 

The most common issue that can occur when it comes to buying and selling a home at the same time is that people get cold feet and want to back out of the sale. When this occurs it is extremely frustrating, as it means you will not be able to buy your new home until the sale of your current property has been completed.  

As given away by the name, all the properties in the chain are linked to each other. Meaning even the smallest ripples at the bottom of the chain can be felt all the way to the top. When taking part in any property purchase you can expect to experience delays when it comes to your completion day. 

A surprising number of selling and buying issues stem from bidding. The amount of power your own bid holds depends entirely upon sale dependency, onward chain after offers, or you are outbid while someone has a bud on in your home. 

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The selling and buying a house process

If you have decided to start the process of selling and buying at the same time it can be easy to feel overwhelmed and out of your depth. Whilst it is easier said than done, it is important not to panic, as the good news is that it is fairly commonplace, and selling a home and buying a property at the same time is the route that most homeowners choose.  

 

To help you start your selling and buying journey, we have created our handy guide to help you through the process: 

1. Value your property

As you are selling and buying at the same time, you will need to get an idea of how much your home is worth so you will be able to find a property within your price range. The best place to start is by using free online valuation tools. To do this you will need to enter basic information about your property such as the postcode, size, condition, and how many rooms it has. From there you should be able to receive a basic valuation for how much your property is worth. 

 

The next step you can take is inviting three local estate agents round to your property to give you their valuations to sell your home. They will be able to assess your property and give you a personal valuation. Once you have received all three valuations you will be able to work out the average price of your property and go from there. 

 

It is worth bearing in mind that some estate agents will overvalue properties in the hopes of winning business, so consider all three valuations carefully and avoid starting your selling journey with a high asking price that you will have to reduce in a few weeks. 

2. Sort out your finances

One key aspect of selling your home before buying property is working out your finances. By having a proper handle on your finances, you are putting yourself in the best position to get the most out of your current home and new house. You will need to work out how much you can afford to spend on your next house and how much equity you have in your current property. 

 

You will then need to consider the property chain. When you find the next property, you want to buy, you will need a deposit when you exchange contracts. It is always a good idea to exchange on the same day as your buyer does, as you will be able to use the deposit that they pay to you to pay your deposit on the property you are buying. 

 

However, if you want to purchase a new home that is more expensive than your current house, then you may end up paying more for your deposit than you receive. If this is the case, then your solicitor may be able to agree with the seller’s solicitor that a smaller deposit will be enough, but if this cannot be done then you will need to find the extra cash. Before you start this process, it is a good idea to work out whether you will be able to afford this. 

3. Mortgage Broker

When you are selling your house and buying a new property alongside each other, a mortgage broker is someone who can help guide you through the process. They will be able to advise you about whether you should remortgage or port your mortgage. 

 

They will also be able to warn you of any early repayment charges you might have to pay if you take out a new mortgage before you have paid back your original mortgage. 

4. Find your EPC and prepare your main documents

One of the first things you will need to do when you decide to sell your property is to find your Energy Performance Certificate or EPC. An EPC is a document that ranks your property on energy efficiency from a scale from A to G, with A being the most energy efficient and G being the least. Before you can put your property on the market, you will need to ensure that you own an EPC or that you have had a new one commissioned as it must be available to show any prospective buyers. 

 

EPCs last 10 years so if you have bought your property within the last decade, you will not have to buy another. It may end up costing you more, but most people go through their estate agents to get a new EPC. You can also get an EPC independently by going through local Energy Assessors in your area.  

 

If you are looking for a quick house sale or purchase, then it is critical that you have your main documents to hand and ready to go. By having these documents ready from the get-go, you can help to avoid any delays. 

5. Prepare your home for sale

If you want to sell your property quickly, it is important that you prepare your home for sale.  By correctly preparing your home, you can help to achieve the best price possible and a quick sale. In order to generate interest in your property and get a buyer to buy your home, you will need to make some small changes to your property. 

 

Simple tasks such as: 

 

  • Decluttering your property and moving any furniture that makes your room look small
  • Lightening your room with a fresh coat of paint in a neutral colour 
  • Boosting your kerb appeal by mowing the lawn, planting fresh flowers, cleaning the patio, and repainting any tired looking fences

6. Choose your estate agent

Now that you are ready to put your home on the market, it is time to choose your estate agent. You should be looking at how often the estate agent achieves the asking price, how quickly they sell and check out any Trustpilot or Google reviews that they have. In order to find the best estate agent, it is important to shop around and carefully consider your options, weighing up all your different quotes. 

7. Choose your conveyancer

A crucial step in the selling and buying process is sorting out your conveyancer. Whilst it may feel early to start looking for conveyancers, it will mean that when the time comes to instruct you will be ready to go. Be sure to shop around for quotes, read reviews, and don’t rush into the decision. 

8. Agree on a sale

When you are selling a property on the open market, there is no set time for how long it will take to find a buyer. The time between listing your property and receiving an offer will depend upon location, size, condition, and price amongst other factors. According to the HomeOwners Alliance, it takes an average of 10 weeks from listing to accepting an offer. 

 

Should you be in the position of receiving more than one offer, you will need to carefully weigh up your options. Not only will you need to consider the sale price you are being offered, but you will also need to consider your buyer’s circumstances. Are they motivated? Are they reliable, or are they likely to walk away?

9. Begin your property hunt

Once you have accepted an offer, it is time to start the property search for your next property! Online property portals such as Rightmove, Zoopla, and OnTheMarket are a good place to start, as they will allow you to see what properties are available in your desired area. 

10. Make an offer

Now that you have found the property that you are looking for, you are ready to start the process of purchasing. The first port of call should be to revisit your finances once again and to make sure that your new house price will fit into the budget. Does your new home require any work that will eat away at the budget? Have you factored in potential extra costs such as EPR, arrangement fees, and stamp duty?

 

Once you are happy with the prices you are ready to make an offer. As we have already discussed if you are under offer then you will be in a stronger position than someone who is still looking to sell their property. 

11. Formalise your mortgage

Congratulations! At this stage in the process of buying a home and selling at the same time, you will have had your offer accepted! However, before you start to celebrate you will need to go back to your mortgage broker and ask them to proceed with your full mortgage application. 

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12. Reach out to your conveyancing solicitor

This stage of the process can be the lengthiest so it is a good idea to get in touch with your conveyancer or conveyancing solicitor as soon as you can in order to avoid delays. Your conveyancer will want to conduct local searches before contracts are exchanged. 

 

While it can be a drawn-out process, it should all run smoothly. If you are unhappy with the lack of communication from your conveyancer, then get in touch, and if things still don’t improve you should consider asking for a new case handler. 

 

Some areas that you will want information about include: 

 

  • If the property has any boundary issues 
  • If the property has undergone building works 
  • If there are any certificates relating to work the property may have done, such as the installation of windows or bifold doors

13. Get a survey

The next step in the process is to get a mortgage valuation for your mortgage lender. A mortgage valuation is a check to make sure the property is worth putting money against. You will be unlikely to see it as it is just a superficial check for the lender to do for their own security. If you want reassurance about the condition of the property you are purchasing, you will need to pay to have a survey performed. 

 

By getting a survey performed you are alerting yourself to any problems that otherwise would be left undiscovered until much further down the line. There are different types of surveys that you can get done that range in thoroughness and price. Should the survey uncover anything that devalues the property, you will be able to renegotiate price, ask the seller to correct the issue before you complete, or you can pull out of the sale altogether. 

14. Take charge

Communication is the key to a successful house sale, whether you are buying, selling, or doing both at the same time. Whenever your solicitor sends you documents it is critical that you read them, sign them, and return them immediately. If you read anything that confuses you, don’t be afraid to pick up the phone and ask. 

15. Involve your estate agent

If you feel that the process is progressing at a slower-than-expected rate but don’t have the time to chase up your conveyancer yourself, then now is the time that you can get your estate agent involved. The Property Ombudsman Code Of Practice for estate agents states that they are obligated to monitor progress, assist you where they can, and report information deemed helpful to bringing the transaction to fruition. 

 

16. Choose your completion date

Once you have chased solicitors, signed off on any issues, and gotten your survey results back, you are ready to set your completion date and contracts can be exchanged. It is crucial that a completion date that works for everyone is chosen as this will make the whole process a lot easier. 

17. Organise your move

When you are buying a house and selling one at the same time, it is important that you make arrangements for the supply of electricity, water, gas, and telephone services. You will need to make sure that all your utilities are still working up until you move out. By planning your move ahead of time, you will be able to avoid any hiccups further down the road. You should also look at removal companies and decide how you will move from one house to the new one. 

18. Completion day

Congratulations! You are now the proud owner of a brand-new house! All the prep and hard work of the last few months has gone into this day, as today you will be selling a house and buying one. When completion day rolls around, money is moved between the solicitors, and they confirm the keys can be released to the new owners. The conveyancers will then register the transfers of land ownership with the Land Registry. 

Other costs involved with buying and selling a house at the same time

When it comes to selling your home before buying another property, there are extra costs that you will need to factor in when checking your final budget. One such cost is stamp duty. The good news is unless you are a cash buyer, you should be able to absorb the cost of this into your mortgage borrowing. 

 

You will also need to factor in the cost of estate agent fees and conveyancing fees.  Whilst these are necessary costs in the journey that you will need to pay, they can be easy to forget about.  It is also a wise idea to factor in some extra cash in the budget for any hiccups you may experience, rather than pushing your budget to the max.

How we can help sell your house

Here at The Property Selling company, we believe that a house sale should be three things: fast, effortless, and free.

 

We offer you a full online estate agent service, without the fees – because it’s our mission to change the way you sell houses.

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete.

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free!

 

If you are ready to sell your home in as little as 28 days, then get in touch today and fill out one of our fast, free, no-obligation forms for your house valuation today!

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Property Raffle: Is It A Good Way To Sell My House?

Raffle tickets

Property raffle: Is it a good way to sell my house?

In this article we will be exploring if a property raffle is a good way to sell your house, if a house raffle is legal and what alternatives there are.

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WRITTEN BY: tom condon ★ Digital Content Writer

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Property raffle: Is it a good way to sell my house?

In this article we will be exploring if a property raffle is a good way to sell your house, if a house raffle is legal and what alternatives there are.

Sell your house in 28 days

WRITTEN BY: Tom condon ★ Digital Content Writer

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Table of Contents

Property Raffle: Is It A Good Way To Sell My House?

A property raffle or house competition, have taken social media by storm over the past ten years, with the chance of winning perfect houses for as little as £1 – or even free. For the homeowner, it can seem like a hassle-free, simple way to make more than the value of your house quickly. 

 

But the reality is; that most house raffles always fail to sell enough tickets to make a profit on the property and gain on top of marketing, conveyancing and legal fees.

What Are Property Raffles?

A property raffle is a draw or chance to win a house which a person enters by purchasing a ticket for free, £2 or whatever you wish to set the ticket price at. The one lucky winner is selected randomly on a specified date and given the house as the prize. 

 

It can seem very attractive to many, as most properties put up for raffles are expensive houses and well outside their regular budget. 

 

If you get it wrong, involvement in a house raffle can be a slippery slope of legal problems.

Are Property Raffles Illegal?

Although property raffles are legal, they should be walked with caution as, in most cases, they are unsuccessful and may lead you to legal trouble.

 

A failed house raffle may mean that you cannot cover the cost of the marketing spend you spent trying to raise tickets, or even the increased amount doesn’t cover the cost of your house. 

 

In some use cases, unsuccessful property raffles have meant the property owners had to put the house on the open market for below market value to pay off the original bidders’ raffle tickets. 

What Are The Legal Guidelines For Property Raffles?

In the UK, if you want to carry out a property raffle and receive the profits for private gain, you must adhere to the Gambling Laws to avoid being penalised:

  • Straight house raffles are illegal, so if you wanted to host a property raffle, you would need to add a ‘competition element’.
  • Competition elements mean that not all participants will pass the initial test.
  • The competition elements might mean that any participants would need to take part in a skills-based question or quiz before they can purchase a ticket or win the house.
  • Any house raffle that does not include a competition element is classified as a lottery, and lotteries cannot be hosted for private gain or for selling property.

 

Alternatively:

 

  • According to the Gambling Commission, if you wish to reap the profits of the property raffle and instead donate the profits to charity, then you do not need to adhere to the competition element. 
  • You could also ensure that the raffle tickets were free and that there would be no monetary gain. 

You will also need to be careful not to slip into the realm of money laundering and redress rules while marketing your house raffle. 

 

As the Advertising Standards Agency (ASA) may constitute your house raffle as misleading advertising that goes against the Committee of Advertising Practice (CAP) code, and you will be reported to the National Trading Standards Estate and Letting Agency Team (NTSELAT).

Do You Need A Licence For A House Raffle?

If you adhere to the UK Gambling Commission’s (UKGC) legal guidelines, you do not need a licence for a house raffle, as the Gambling Commission does not regulate prize competitions. 

 

However, if you wish to carry out a property raffle and receive the profits for private gain while not adding a competition element, you must apply for a licence from the UKGC.

Is A Property Raffle A Good Way To Sell My House?

If your property raffle is successful, it may be a great way to gain a profit on your house, especially if you have been unable to sell it on the open market due to several reasons:

Because property raffles usually involve large, expensive, dream homes, which often take far longer to sell on the open market than average homes, raffles are a great way to sell your property in a fraction of the time.

Properties deemed problematic (structural issues, unusual or strange ownership history) on the open market can be quickly sold in a house raffle because people will only buy a raffle ticket at a fraction of the price they usually would — the risk for them is lessened.

If the market is slow or the economy is struggling, like during a recession, then a house raffle can be a great way to sell your home effortlessly as the risk is lessened for the ticket buyers.

Don't bother with a raffle...we'll help you sell in 28 days!

Why Is A Property Raffle A Bad Way To Sell My House?

Although there may be benefits to selling a house via a raffle, there are many risks involved with this house-selling process:

Most house raffles end up being cut short, either because the UKGC has shut them down or because they need to sell more tickets sales required to cover the cost of the house, resulting in cash prizes being offered instead.

 

If you do not follow the legal guidelines, then you may be found to be violating the gambling and advertising legislation — even worse, this could happen before you manage to hit your target ticket sales figure.

 

If you are forced to offer a cash prize instead of the property, you will most likely have spent hundreds if not thousands of pounds on marketing your raffle, which may lead to you incurring significant losses and still having the unsold property. 

 

If you are in this situation, we can buy your property in as little as 28 days, pay for all your fees associated with selling your property and handle everything for you.

You can expect to spend a lot of money on advertising and marketing when selling a house via a raffle. You will need to utilise social media marketing and property raffle sites (that advertise for a fee) to engage an audience of potential buyers — all of which costs money.

 

You will also need to ensure you have a legal professional or solicitor on hand to ensure that you are not breaking any of the Gambling Laws and to handle the completion stage of house selling. 

 

A house raffle is exceptionally complicated and creates severe administrative work, from completing paperwork to following GDPR and protecting the entrant’s data. You will likely outsource this work to a third party which will also cost a significant amount.

How To Raffle A House

Most house raffles are undertaken privately by the homeowner; however, some raffle companies will advertise your home for a fee. If you want to raffle your house legally, you will need to follow these steps:

  1. Register your house raffle with the lottery duty and pay 12% of the proceeds from ticket sales.
  2. Hire a solicitor or conveyancer to write terms and conditions and ensure the property raffle is legally compliant.
  3. Set a scheduled deadline for your target ticket sales and the number of sales.
  4. Work out the number of tickets you need to sell to achieve your target. Ideally, it would help to plan for contingencies like a cash prize instead. 
  5. Hold a raffle draw which can either be done over social media or a website.
  6. Once you have picked a winner of your house, you must instruct a solicitor to transfer the property ownership or give the cash prize if you do not reach your desired target.

Is A House Raffle A Good Way To Make Money?

If you want to host a property raffle, it is quite an attractive way to make money. But, we warn you to be cautious as not only is a property raffle legally problematic, but it is also not the easiest way to sell your house.

 

If you sell with us, you will benefit from a hassle-free process, with all your solicitor fees paid on your behalf. We can sell your property in as little as 28 days, and you won’t have to worry about marketing costs — we’ll cover those too!

Can You Win A House At Raffle?

According to the house raffle platform, Winmydreamhome.com, only 19% of property raffles end up with a house being awarded to a winner. That means that not even a fifth of all raffles are successful. 

 

Omaze is the best-known UK-based house raffle company that offers homeowners a website to advertise their properties for a fee. 

 

The company claims that someone will always win the house, but if the owner does not sell the right amount of tickets, no one will win the house, and the winning ticket holder will be given a cash prize or fixed sum instead.

Why Can Raffles Create A Nightmare For The Winner?

Although a property raffle may go viral on social media and create quite a stir for you, as people become closer to winning their dream home, winning a large and expensive home may become a nightmare for the winner.

 

The winner may not be from an affluent background and therefore be unable to keep up with the costs of maintaining and repairing their new home, let alone pay the stamp duty on the property.

Should You Do A Property Raffle Or Use A Modern Estate Agent?

House raffles can be a precarious way to sell expensive or unusual houses, even if they occasionally end in high rewards. 

 

If you do not want to risk your property in such a high-risk scenario, why not sell with us?

 

The Property Selling Company is a modern estate agency which prides itself on ensuring a house sale is fast, effortless and free. We offer you a complete online estate agent service without the fees – our mission is to change how you sell houses.

 

We will work alongside you every step of the house-selling process, handling everything so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there even after the process is complete.

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals, all for free!

 

If you are ready to sell your home in 28 days, get in touch today and fill out one of our fast, free, no-obligation forms for your house valuation today!

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Tips for Your House Viewing

Tips for Your House Viewing

Looking at our top tips for getting your home ready for a property viewing, what buyers will look for when viewing your home, as well as our house viewing checklist.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

When it comes to putting your house on the open market, an aspect that can often be overlooked amongst house hunting, mortgage applications, finding a conveyancer, and estate agent fees, is the house viewing itself. Whilst it may seem like a fairly insignificant aspect compared to the rest of the process,  a successful property viewing is one of the keys to a fast sale. 

 

But how can you get your home house viewing ready, what difference will it make to the sale, and what will you need to do? 

 

In this blog post, we will be looking at our house viewing checklist, the questions that buyers may ask you, and how to stage your home correctly. 

What is a property viewing? 

Before we get into our tips for your house viewing, we will first look at what a house viewing is. This is when prospective buyers have a look around your home to get a feel for it and decide whether or not they wish to purchase it. This involves a brief tour of the home, answering any questions the prospective buyers may have, and the opportunity for buyers to wander the house individually. Here they will be judging the condition of the property and how it will fit the potential buyer’s needs. Potential buyers may wish to do two or three house viewing and will often request them at different times of day, so they can get a sense of the property you’re selling. 

Who will organise a house viewing?

Whilst each house sale and estate agency is different, as a general rule of thumb house viewings are organsied by the estate agent. They will check what dates and times you are available and other them to any interested buyers, and if the time suits both parties then that is when the viewing will take place. 

Will I need an EPC to sell my home?

In order to sell your home, you will need an energy performance certificate, also known as an EPC. An EPC is a document that you will need to have ready to provide to potential buyers which informs them on how energy efficient the property is. It is a legal requirement for selling and will rate the property on a scale from A to G. A property with a score of A is the most energy efficient it can be and a property with a score of G is the least. 

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What questions might buyers ask? 

When it comes to questions to ask, buyers will leave nothing off the table. As they will be the ones who are potentially buying a house, they will want to know about every aspect of it, so you will need to be ready for anything. Some of the most common questions sellers get asked by buyers include: 

 

  • Why are you moving?
  • What is the neighbourhood like?
  • Have you had much interest?
  • How long have you been on the market?
  • Are you willing to take offers?
  • What are the neighbours like?
  • Have you had any work/renovations done to the property?
  • What are the schools/shops/ pub /green spaces/amenities in the area like?
  • What are the transport links like?
  • How much have other properties been selling for?
  • How much are the property’s bills?
  • Is there any building work planned nearby?
  • What direction does the garden face?
  • What is the size of the garden?
  • Is it a leasehold or freehold property?

If you are unsure about any of the questions, you should ask the estate agent who will be able to advise you on what to say. 

What do buyers look for when viewing a house?

When it comes to viewing a property, buyers will be checking every aspect of your home. Whilst this can sound intimidating, it is good to know what your buyers will be looking for so you can make sure your property is up to scratch. 

 

Here is the typical buyers checklist of things to look for in a house viewing: 

  • Why are you moving?

  • How much storage space is available 

  • If there are any structural issues 

  • Which way does the house face

  • Any mould or damp issues the property may have 

  • Are the rooms big enough?

  • If there are any hairline cracks in the walls

  • The condition of the roof/ are there any loose tiles on the roof? 

  • How is the plumbing? 

  • What’s the attic like?

  • How old is the boiler?

What is home staging? 

Home staging and property viewing go hand in hand, although not every home seller knows this. Home staging is the act of decorating your home in a certain way so that it will appeal to more buyers and help you surpass your asking price. A well-staged home can be the difference between getting the sale price you want, and the sale price you will settle for.  Home staging includes simple things, such as making sure rooms are clutter-free, painted in neutral colours, smelling fresh, and looking clean. 

 

According to research from Homesandgardens.com, a home that has been staged will sell three times faster than a house that has not been staged. The same research also revealed that 70% of estate agents stated that staging your home can help to increase the offer value on a house by up to 10%.

 

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Home staging tips 

Whilst home staging can sound overwhelming, you don’t need to go overboard in order to stage your home professionally. Below are some of our top tips to help you get your property ready for a showing: 

One of the least glamorous but most cost-effective ways you can prepare your home for viewing is to deep clean. This means you should make any tiles are scrubbed and cleaned within an inch of their life, making sure taps are polished, any mouldy areas are eradicated, walls are freshly painted, carpets cleaned and all surfaces are spotless. 

 

While it may sound like a chore, having a clean and tidy house can help you to increase viewings and help potential buyers envision themselves in their dream home. Professionally deep cleaning your property can work out to be a little expensive, however, it can be the way forward when it comes to staging your home for a fast sale. 

The key to a successful house viewing is to help the buyer to try to get a sense of your home. You want them to know that this is a house that is well cared for and loved, and one that they want to live in. In order to help your buyer to see this vision of your home, you will need to make any general repairs around the house that need fixing. 

 

Buyers will be checking for areas of the home that may need improvement, so be sure to tackle any unfinished DIY projects,  fix any door handles that need replacing, and oil any cupboard doors that need silencing.  

 

If you are looking to secure a fast sale, then you are going to have to break out the toolbox as buyers will knock money off their offer for every problem they see in the home that needs fixing. You will be able to save yourself time and money in the long run by spending a little now and making any repairs that are necessary. 

The next step in the house staging checklist is to declutter your property. This means it is time to throw out things you don’t use anymore and to bring a sense of order to your home. It will also help to keep your home in pristine condition during house viewings. 

 

One of the biggest advantages that decluttering your property brings is that it will make moving easier as you will have already thrown away anything you didn’t plan on taking with you. In order to make sure that you have decluttered enough, your cupboards and storage options should all be around 75% full. 

When it comes to buying a home, it is important to keep things looking fresh. An inexpensive way you can breathe new life into your rooms is by giving them a fresh coat of paint. Whilst it may seem like a simple task, it is important not to underestimate the power of paint. It can a room from drab to fab within minutes. 

 

Another way you can give your home a new look in preparation for showings is by taking a critical look at each room, looking at the furniture within each room, and deciding whether or not it fits the room. You should remove any furniture that does not match the aesthetic of your home or any furniture that makes your rooms look small and cramped. 

 

One thing that can put buyers off from purchasing your home is smells. Before you host any property showings, make sure you eradicate the following odors from your home: 

 

  • Smoking
  • Cooking
  • Pet smells
  • Damp
  • Bins
  • Blocked drains 

 

You can do this by making sure to take out any bins before a showing, deep cleaning, and by using fresh flowers, a scented candle, reed diffusers, or even air fresheners. 

As a homeowner, you can make the interior of your home as clean and as organised as you want, but you mustn’t forget that first impressions matter! And whilst it can be easy to get distracted by work that needs doing inside of the house, you can’t forget the exterior of the property. Whilst the idea of giving your garden a makeover can sound daunting, there’s no need to panic, simple tasks such as planting flower beds, repainting tired-looking fences, mowing the lawn, weeding the garden, and cleaning the patio can all make the world of difference to your property. 

When buyers are looking to buy a property, they want to be able to imagine themselves one day living in the house. In order for them to do this and to help your property reach its full potential, it is a wise idea to neutralise your home before any viewings. This means removing any personal items from the sight of your buyers. 


Some personal items that are commonly forgotten about by homeowners include: 


  • Trophies and certificates
  • Family photos
  • Children’s artwork
  • Collectible items 
  • Holiday souvenirs 

The idea is to make your home look like a new build showhome so that your buyer’s imaginations can truly run wild. 

House Viewing Checklist

It can be overwhelming knowing what areas you will need to cover when it comes to preparing for house viewings. Below we have compiled our house viewing tips that will help you prepare for your house showings: 

 

  • Be sure to tidy the garden (mow the lawn, weed the garden, add garden furniture where necessary)
  • Make sure the front of the house looks tidy (make sure windows are clean, door handle polished, front door is freshly painted etc) 
  • Deep clean and declutter each room in the house 
  • Put anything that is not being used in the staging of your home in storage or tidied away out of sight
  • Make sure to remove any personal items like family photos, souvenirs, children’s artwork, etc from the house 
  • Clean and polish every surface 
  • Have a copy of your EPC ready to show any buyers who come to the viewings 
  • Make a plan of which order you wish to show buyers around your home, decide where will you start the tour and where will you end it? 
  • Be prepared to answer any questions your potential buyers may have

The Property Selling Company

Here at The Property Selling company, we believe that a house sale should be three things; fast, effortless, and free.
 

We offer you a full online estate agent service, without the fees – because it’s our mission to change the way you sell houses.

 

We will be working alongside you every step of the house selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete.

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free!

 

If you are ready to sell your home in as little as 28 days, then get in touch today and fill out one of our fast, free, no-obligation forms for your house valuation today!

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How To Sell A House Privately

Orange door on a beach

How To Sell A House Privately

Wondering if selling a house privately is for you? Read below as we delve into all things private house sales…

Tom Condon
Tom Condon ★ Digital Content Writer

Table of Contents

Selling a house privately can be attractive to many people, especially if you are downsizing, the children have moved out, or you are retired. Private sales can bypass estate agent fees but make the entire process much more complicated if you don’t have experience selling privately.

In this article, we will cover what selling a house privately actually means, how to sell a house privately, if selling a home privately is for you, and the alternatives to selling privately. 

What Does Selling A House Privately Mean?

If you want to sell your house but don’t use an estate agent or auction house, this is known as selling your house privately. Most people avoid selling their homes privately because they would rather spend extra fees than wait for extensive amounts to sell their homes.

When you sell your house with an estate agent, it can take anywhere from four to six months to sell on average, and an auction house may take around three months to complete. On average, selling your home privately may take anywhere from six to twelve months, more than double the time of an estate agent.

But, if you have the time, patience and dedication to sell a home and carry out all the necessary stops – it can be an inexpensive route to selling a home. You will need to arrange all the advertising and negotiations with buyers and organise viewings.

It’s important to note that one of the advantages estate agents, cash buyers and auction houses have is they have access to the Rightmove and Zoopla property portals – they do not allow access to the general public to list houses, so you would be missing out on a critical marketing stream.

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How To Sell A House Privately

When you sell a house privately, you are undertaking a massive project, and there are many things you will need to balance. You first need to make sure that selling privately is the route you want to take. You could use an online estate agent (like ourselves) who will offer to pay all your fees, negotiate with potential buyers and advertise your property all for free.

Once you begin to sell your house privately, you should make your property presentable and repair any quick fixes. You should clear your property of any clutter and mess to ensure potential buyers can imagine themselves in each room. 

 

If you are selling your house without an estate agent, you could highlight favoured spaces in the home with features or a new paint lick; we recommend redecorating with neutral tones. You should deep clean your property and consider hiring cleaners to clean all carpets, bathrooms and kitchens thoroughly. 

 

If you have any damages that a tradesperson can quickly repair, like electrical fittings, cracked tiles or leaky mixers, you should hire professionals to fix them or do it yourself (carefully). It’s worth spending a little bit of extra cash on a tradesperson here as buyers will be able to notice minor damages that you have lived with for years — and you do not want to make anything worse by doing it yourself. 

 

Your garden, drive and patio should all be spruced up to increase the curb appeal; this will include mowing your lawn, making sure all your plants are hydrated, and you remove any unnecessary weeds.

You could set an asking price yourself, but we recommend against it. If you decide to do it yourself, you should factor in the following:

 

  • Market trends of the local area – available on Zoopla or Rightmove; look at previous sold prices.
  • Property trends – check property-based news websites for up-to-date information on the housing market.
  • The age of your property.
  • The number of bedrooms.
  • Size and shape of your garden.
  • Parking spaces available.
  • Location and proximity to amenities.

 

If you decide to contact high-street estate agents for a valuation, you should aim to have three different agencies value your property and then create an average overall. This is because estate agents may try to overvalue your property to win your business, and making an average will give you a more balanced point of view.

 

When selling a house privately, you should establish a fair and evidence-based asking price. Some online estate agents offer no-obligation house valuations, which often cost less, and you do not need to carry on with your service. These evaluations will help you create a realistic asking price.

It is highly recommended that you refrain from carrying out DIY conveyancing if you sell your home privately. You will have to balance the house sale and the lengthy legal side, which can be the most complex part of a house sale.

 

Instructing a solicitor or conveyancer early on in the private sale process is essential to ensure that the solicitor can process any legal bumps smoothly. It would help if you choose a solicitor that is highly experienced, rated and is a specialist in private house sales.

Once you have prepared your property for sale, instructed solicitors and set a realistic asking price, it’s time to advertise your property. 

 

The first thing you should do when selling your property privately is to take high-resolution photographs of your property; we recommend using a DSLR. You should take photos on a sunny day as the natural light will make your pictures look more spacious. You could hire a professional photographer as they are trained to take interior photographs.

 

As mentioned previously, you will not have access to the Rightmove and Zoopla property listing portals, but you will be able to list on other smaller listing websites. But, the easiest way to sell your property is by putting advertisements in your local newspapers, social media, local forums or community noticeboards. Word-of-mouth marketing will work wonders in selling your property without an estate agent. 

 

In the advertisement, you should include documents that remove any hesitations from potential buyers, like a floor plan, room-by-room guide or Electric Performance Certificate.

Before you have any viewings on your property, you should organise a plan to tour your prospective buyers around the property, showing off the best features of the property and have a list of questions that you think the buyers will ask:

 

  • Have you had any other interest in the property?
  • What fixtures and fittings are included in the sale?
  • Why are you moving?
  • How much is the council tax?
  • What are the best local schools?

 

When selling your home privately without an estate agent, you should stay professional and friendly and not rush the buyers around the property. They will be trying to imagine themselves in the space, so it’s essential that you give them ample time to react to each room. 

 

If you cannot attend a viewing, you should have someone else jump in to take the viewing, as rescheduling can annoy and push away potential buyers. It would help if you also thought about having someone else in the house as you conduct viewings for security reasons.

Once you find a buyer, the buyer may start putting in offers for your home. If you set a fair asking price at the start of the process, you will attract more buyers than if you overvalued your home. It would help if you came up with a minimum amount you are willing to accept, as some buyers will go below your asking price.

 

Negotiations can be stressful, emotional and challenging as you want the best price for a home you’ve probably spent years living in. But the buyer will want to pay the minimum possible for the house so they can start their new life. It’s essential to try to find a middle ground when negotiating. 

 

If you decide to turn down an offer, you should do it politely, as the buyer may put in for a counteroffer later in the process. But it would be best if you were willing to negotiate with a buyer about how much you are ready to accept and how much they are willing to pay for your property.

 

The process is legally binding once you exchange the contracts so that you can entertain multiple offers from buyers before the exchange.

When you have an offer you are happy with, and you decide to accept, it’s essential to ask them for confirmation in writing along with any terms you have agreed, which could include:

 

  • The price.
  • How long to exchange.
  • How long to complete.
  • List anything agreed within the sale.
  • List anything agreed to purchase over and above the sale price.

If you instructed a solicitor or conveyancer earlier in the process, by this stage, they should be ready to go as soon as you accept an offer. Conveyancing can be one of the longest stages of a house sale, so it’s essential that you stay in clear communication with your solicitor and the buyer’s solicitor. 

 

If you want to avoid dealing with solicitors, house viewings and advertisements, sell to us! We will handle all aspects of the sale and can sell your home within 28 days. This is only a fraction of the time it would take to sell your property privately.

Is Selling A Property Privately For You?

When choosing the best route to sell your property, there are numerous factors to consider. It would be best to balance the advantages and disadvantages of selling a house privately without an estate agent.

If you need to sell your house fast, selling privately will not achieve this. We will buy your home in as little as 28 days, pay all of your legal fees and be able to help you with any onward purchases.

We will sell any property in any location, whether it’s unmortgageable, a bunker or Big Ben. Our team are specialists in the property industry and will be able to help you with any problematic properties you wish to sell. Selling a problematic property privately can be very hard, and you may need a lot of luck to sell in the market.

You will find the process a lot easier to sell in a market where the demand for property outweighs the supply for a property. Online estate agents (like ourselves) have strategies to sell houses when the market is outside our favour.

If you are already juggling full-time jobs, children or home renovations, you will need to seriously weigh up if you have time to sell and market a house. You can do it, but it will take a significant amount of your life and cause much stress.

It would be best if you didn’t let estate agents ruin the house-selling process for you forever. We are an online estate agent whom hundreds of customers have trusted to sell their homes. We have an excellent rating on Trustpilot. We are also members of the National Association of Property Buyers and The Property Ombudsman — which means that we follow a strict set of rules that ensure we treat you fairly throughout the process.

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What Can Go Wrong; Selling A Property Privately?

No matter which routes to selling a property you take, there will be a high chance of something cropping up and going awry. The possibilities are maximised during a private house sale as you need the expert guidance of an estate agent to guide you through the process. Here are a few examples of what can go wrong:

 

  • You may receive a lot of attention for your property but only a few offers because people are just window shopping or are potential sellers looking to see what they need to do to prepare their homes for sale.
  • Anything information you advertise about your property should be as accurate as humanly possible. This is because if it’s not, legal issues can arise from potential buyers looking to get a property for cheap. You do not want to misrepresent the value of your home in any way.
  • There is very little you can do in vetting people looking around your property; you should be wary of invasive questions about your property’s security and make sure there is always someone else in the house as you conduct viewings.

What Is The Best Alternative To Selling A House Privately?

If you are on edge about selling your property privately, there are several alternatives — you don’t have to go it alone. You can choose to use a traditional estate agent, an auction house, a cash buyer or an online agent. 

 

The best alternative to selling a house privately is through an online estate agent like us. We provide a fast, effortless and free service for all our customers — promoting a hassle-free selling process wherever your property is in the United Kingdom. 

 

We are different from any other online or traditional estate agent on the market; with our transparent and honest customer service, we make the goal of your making your time with us as effortless as possible. We have access to Rightmove and Zoopla, which will market your house to over 98% of all potential buyers.

 

By selling with us, you will save on estate agent fees just like you would selling privately, but we will cover all your legal costs and take the hassle out of all negotiations. We will always value your property honestly and give you an accurate starting price.

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