| Q |
What if I'm already using an estate agent to sell my home? |
| A |
Online home advertising or private newspaper advertising does not automatically affect the most common form of agents contract (Sole Agency).
You could save a great deal and multiply your chances of selling your home quickly by advertising privately. It does depend on the precise terms of your agent's contract which you should check carefully. A "Sole Selling Rights" contract would allow the agent to charge you commission whoever you sell to, even if they don't introduce the buyer.
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| Q |
What are my rights with 'Sole Agency'? |
| A |
Most people don't realise that appointing a 'Sole Agent' does not take away your right to sell the property privately. Your agent is entitled to commission only if they sell your property, or if a buyer is introduced by another estate agent during the period of their sole agency. There are some very simple steps you can take to avoid confusion with your agents by agreeing the terms of private sales in advance.
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| Q |
Should I tell my estate agent that I am selling my house privately? |
| A |
It's a good idea. We recommend that you agree with an estate agent in advance that they can't charge commission if you sell privately and have this written into the terms of your agency contract. This avoids any misunderstanding over commission at a later date and it will also serve to focus your agents mind on marketing your property more aggressively.
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| Q |
Can I sell my house without an Estate Agent? |
| A |
Yes, of course.
Estate agents can take some of the running around off your hands, offering advice, acting as a go-between for you and your potential buyer(s). They may offer a number of benefits to the selling process such as:
- advertising the property for sale
- arranging appointments for visits
- following up buyers to obtain 'feedback'
- advice on valuation
- creation of the property descriptive details
- collation (from you) of relevant documentation
- receiving and forwarding offers
- selling mortgages, insurance, legal or other services
- holding pre-contract deposits (sometimes paid by the buyer)
- communicating with your solicitor /conveyancer
- keeping tabs on the progress of exchange of contracts
- advising on the status of 'chains'
- holding the house keys on completion date.
But do you really NEED someone else to provide these services? Remember, the law does not require ANY OF THESE FUNCTIONS to be carried out by an estate agent or indeed any other professional.
When you accept a buyer's offer, you just pass the details straight to your solicitor, who will do the necessary legal work.
You only need to consider whether the amount you will have to pay an estate agent is worthwhile in relation to what they may save you in time, convenience and personal effort.
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| Q |
What about Home Information Packs (HIPS)? |
| A |
Home Information Packs are required for all homes in England & Wales with the exception of properties on the market before HIPS were introduced as follows:
- 4 bedroom homes 01/08/2007
- 3 bedroom homes 10/09/2007.
- 1&2 bedroom homes 14/12/2007
ALL homes advertised from April 6th 2009 require a Home information Pack
From 1 October 2008, all properties advertised for sale must have an EPC (Energy Performance Certificate), which is included automatically in our HIPS, but an EPC-only can be ordered separately if the property is exempt from HIPS.
It is advisable to make sure you have a HIPS in place this will make it a lot easier for a Buyer to make an offer on your property.
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