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Is a fast private sale for your house better than using a estate agent?
Added: (Thu Apr 19 2007)
Yet again another interest rate rise looks on the cards forcing more people into repossession and bigger debt. Looking at the the housing market local people are falling into deep water with there homes and some are in need of a fast solution to save the rising debt and bills they cannot afford. With an average house taking seven months to sell through an estate agent we look at the new routes people are taking to sell there homes.
The internet has changed the way many people source information and with the number of internet users increasing year by year this has become a popular route to sell your house. Many websites are offering hundreds of listings of homes which they advertise on there site for what seems to be a reasonable cost if you sell your property. After searching thirty sites i found the average cost for a listing would be about 100 pounds, Some offer free listings however you are limited in your advert as paid advertisers take the larger and more prominent spaces and have the ability to offer more details which i believe are necessary to create a real interest for a buyer. Others advertise your property for free or a small charge and then take a percentage like a estate agent if they sell the property. Generally the percentage is lower than that of a estate agent.
Auctions are a popular way to sell your house if you want to find a buyer quicker than advertising in a shop window or a website. The auctioneers charge a fee to enter your house and a fee if it is sold on or above your asking price. After visiting many auctions i found many houses on the market and it seems a very popular way to sell your house. Only downside is if you don,t get a offer you want to accept you lose you fee for entering the property however i don,t consider this a big risk, Also if you need to sell quickly you need to find a auction and enter your home quickly, I found i would have to wait 4 weeks for the auction date and then if sold another 4-6 weeks to complete the sale so it may still take 2 -3 months. Your experience may be better or worse so it really is up to the individual if they feel comfortable with this route, People have the impression that buyers only want bargains and that they may not get the right offer for there home.
Cash property buyers are becoming more popular for people who want to sell there house fast. This may be due to a number of reasons which include the rising of repossessions and debt. The number of divorces with partners wanting to quickly sell the house and split the cash, Number of people moving abroad wanting a quick sale to purchase there home elsewhere, Inherited properties which the person wants money quickly and the list goes on. More and more companies are popping up offering this service and they charge no Estate agent fees and some pay all your solicitor fees making this a popular choice, Plus you tend to get the money in a 4-6 week period and this cash gives you power to offer cash on your next purchase so you may get a better price. A simple way however you must expect a offer of about 75 to 90% of market value depending on the company you are dealing with.
www.speedpropertysales.com