Sell Your House

Whether this is for the purchase of your next home, a divorce settlement where the proceeds will need to be divided, etc. the need to save money when you sell your house must be uppermost in your mind.

Also keep in mind that selling a house house and moving is going to be a very stressful time for you.

It will make things easier if you can prepare yourself to accept this fact.

THE STRESSES. Try not to get too stressed if your plans meet with a setback, as they invariably will! If you allow yourself to get depressed your task will seem harder - so keep cheerful and plod on! Just stay focussed on your task to sell your house and to save money.

When you sell your house your first task will be choosing an Estate Agent. This will be your first opportunity to save money. Look at the local papers and see which ones deal in your type of property. Ask amongst friends or colleagues for their advice, and search the Internet.

AGENTS. Compare the Agents one against the other.

Next you will need to negotiate a commission rate. Bear in mind this the main chance you will get to save money when you sell your house so make good use of it.

These rates can vary from between 1.5% and 2.25%. Although in this recession period some have reduced their rates to 1%.

The Agent will tell you, in justification of a high rate, that this depends on the level of service that they provide for you. To a certain extent this is true - you only get what you pay for! As the property market is now slow, Agents will be keener to secure your business, and this may well present an opportunity for you to negotiate a deal in your favour. It is important that you save money - take a look at the figures below.

The difference on a house costing £350,000 at 1%, 1.5% and 2.25% commission is as follows:

1.0% commission = £3,316 payable to the Agent

1.5% commission = £5,250 payable to the Agent

2.25% commission = £7,875 payable to the Agent.

Added to this will be 17.5% VAT. Whereas you can decide the amount of commission you pay when you sell your house, depending on the Agent chosen, there is nothing you can do about the additional VAT payment. Some Agents are now offering a service where a day is set aside for viewing, usually on a Saturday and the house is prepared in readiness for this. The Agent then markets your property at 'Offers In Excess Of'. You can 'disappear' for the day as the Agent will show people round at one hourly intervals. Alternatively, you may prefer to do this task yourself. When prospective buyers have seen your house they will then estimate what they are prepared to pay.

The Agent will contact them after their visit in order to get an offer from them.

Any pets can be moved out to a friend or elsewhere, plus children, who can be a distraction, can be taken out for the day.

This style of marketing may be worth trying as it costs the Seller nothing if the price offered is not acceptable. It saves hoards of people tramping around your house on various odd days, and may help preserve your sanity!

Remember, you live there, therefore you should be able to sell your house well. Also this method will save time when the Agents are the middleman.

HOME INFORMATION PACK.(HIP). As predicted this piece of nonsenical legislation has been scrapped.

One part of the HIP that has survived is the Energy Proficiency Certificate (EPC) because this is covered by EU legislation which the Government has unfortunately agreed to. These EPCs will cost around £200/400 and will need to be renewed every seven years. Not very good as far as saving money is concerned. This EPC will cover items such as loft insulation, double-glazing, the central heating boiler etc. Not exactly rocket science!

Therefore, bearing in mind these two expenses, Agents fees and EPCs cannot be avoided, it is definitely well worth while shopping around and doing some hard bargaining where you can. This increases the need to save money.

When you receive the proof details from your Agent, check them thoroughly for typos and other errors (it happens). Make sure that the marketing blurb is correct. Make sure the floor plan, if provided, is accurate. The onus is on you - you need to sell your house.

Ask the Agent whether their commission is based on Sole Agency (which will allow you to sell your house privately).

SOLE AGENCY. means that your Estate Agent is entitled to a commission only if they introduce your buyer and bring about the sale of your property OR if another agent is appointed during the period of sole agency and who sells the house. So be careful here. A Sole Agency contract normally runs for 16 weeks but make sure you check this point.

If you become dissatisfied with Agent No.1 you must give him fourteen days notice in writing of dismissal before you engage Agent No.2 to sell your house. If you do not do this and just go ahead and employ Agent No. 2 you will become liable for two sets of commission. This one mistake could result in your plan to save money going right out the window - so be very careful!

One Estate Agent who has decided ‘honesty’ is the best policy is Julian Bending.

“Julian Bending decided brutal honesty and a sense of humour was the best policy when advertising a property for sale.

“His pursuit of honesty in his business has seen previous properties branded smelly, ugly, sexy, swanky and butch.

“In one description he warned potential customers: 'Dear God, it's difficult to imagine a more disgusting house than this.”

Julian works for the Ralph Bending Estate Agency in Glastonbury, Somerset.

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ALTERNATIVE METHODS OF SELLING. You can also advertise your property in the local paper and may sell without the assistance of your Estate Agent. This is called a private sale.

If you are considering selling your property yourself another way around this situation is again Google it and see what sites you can find that enable you to sell your house yourself.

When you find one of these sites, you will need to take your own photographs of your property and write your own description of your house. Your details are put on line within minutes and remain there for as long as you wish. These web sites are an absolute mine of useful information and well worth a visit.

The standard charge for this service is around £90 upwards. Well worth consideration even if you employ a professional photographer for the task.

It will certainly save you money when compared with the high fees of Estate Agents but you must put in your own amount of effort to sell your house.

You can save thousands of pounds in agent’s fees by selling privately. It does not affect your sole agency contract.

You should tell your Agent you are doing this, then if you are able to produce your own buyer when you sell your house he will be aware of the situation. As you will be making the sale arrangements by yourself you should establish whether any prospective buyers have actually placed their own property on the market for sale and ask the name of their Agent. You should check this out. This will help to reduce the number of time-wasters. Remember a property is not sold until the contract has been signed. Prior to that taking place, it is only Under Offer.

PRESENTATION. When you are sell your house make sure it is as clean and tidy as you can possibly present it. A few hours spent tidying the house, planting up a few pots or hanging baskets with a colourful show of plants will pay dividends. Placed outside the house will give it kerb appeal and draw potential purchasers in.

Instead of driving past, your prospective buyers should be keen to see what is inside. Although you are spending some money here, in the long run you will be saving money by drawing extra buyers in. Don't miss a chance to sell your house!

It may well make the difference between getting a good price for your house or having to accept a reduction. Look at the picture here and you can see how NOT to present your property when you are trying to sell it.

A scruffy house, as in the photograph, will drive them away.

WELCOME YOUR BUYERS AS GUESTS.. Be welcoming when your prospective buyers arrive. Have in mind all the time the need to sell your house.

Show them around your house in the way that the details are presented then you are less likely to confuse them. Remember, until now, the paper details are all they have had. Draw their attention to any features that are not in the details. If you are including carpets and curtains or other items in the sale, mention this.

If you are asked the reason for selling, again, be honest. You will probably find that buyers will appreciate it if you are open as this creates an atmosphere of trust. It is always possible to phrase how you give details to purchasers without misleading them.

Don't be too keen to give masses of information - just answer their questions in a frank and honest manner. Take this good advice and in the long run you are more likely to have a satisfied buyer, which in turn will be saving money and time.

No matter what you may think of your prospective buyers, be polite at all times and remain focused - the need to sell your house is your objective.

It also pays to give the Agent very specific instructions, in writing if necessary, regarding advertising if you wish to retain some control over how your property is marketed.

Do you want the initial advertising confined to the Internet only? Do you want it to be splashed in the local papers? Do you want to have a board outside your property? Do you want the property just sent to people who have expressed an initial interest in your type of house? Compare these methods and see which best fits your particular requirements.

NEIGHBOURS. – and here the vendor is honour-bound to be truthful.

There have been some recent court cases where purchasers have taken the vendor to court because they were not honest about their relations with the neighbours.

Do you have disputes regarding noise, parking, trees (Leylandii in particular),boundaries, etc? You must be honest here and declare them to the prospective purchaser if you are to avoid trouble in the future. Other items may also need to be disclosed. Your Agent will advise you.

This particular point needs to be very carefully considered. Many house purchase negotiations have eventually finished in Court. Definitely not the way to save money. Lawyers are very expensive!

SOLICITORS. You will need to engage a Solicitor. It is now no longer necessary to engage a local solicitors within driving distance.

Here it will pay you to compare prices from various solicitors from the saving money angle. Solicitors, like everyone else in business, want to maximise their profits, therefore you will find charges vary.

Do remember your aim of saving money so ask lots of questions and compare prices. Don't be over-awed by Solicitors - you are the client, they are there to serve and give you good advice.

CONVEYANCING COMPANIES. A large number of Conveyancing companies have sprung up since regulations were relaxed regarding house purchase and their charges are usually less than Solicitors. Take a look at for some additional money saving advice.

If you find a Conveyancer who is not within driving distance of your house, this should not affect the situation. Should you be required to verify who you say you are for fear of Money Laundering charges, a local Solicitor will verify you for a charge of about £10.00 for the purposes of satisfying the requirements of this Act.

Therefore, if this Conveyancer, who is a little way away, but is charging £100 less than your local Solicitor, then your decision is made easy where saving money is concerned.

As you are thinking of selling your house, you may possibly be looking to save money when buying a house. Take a look at our pages for Urban houses and Rural houses If you compare prices, take our free advice you will then save money.

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