Private Property Sales Procedure
Private property sales have become increasingly common as individuals try and save cash on estate agents’ commissions.
In this post we have laid out the private property sales method to help you understand the various steps involved.
Step 1 : Valuing your home
A property valuation is essential whether your selling privately or perhaps using an agent so you know what is a realistic asking price for your house.
This can be done by looking to see exactly what other similar properties in your town have sold for recently or perhaps by asking a qualified surveyor to render a valuation for you.
Step 2 : Advertising Your Property
If you will be looking to market your property privately you might like to think about advertising on a few of the private property sales internet sites.
Step 3 : Viewings
If you market your property privately, clients will contact you directly to organize to come and see your property. Make sure that it will be clean and tidy before viewings and also don’t be afraid to inquire your visitors for feedback.
Step 4 : Offer
Should you be selling your property privately, then you certainly will need to negotiate any specific offers that are created. Once you have recognized an offer you and the client need to instruct a solicitor to rectify the conveyancing. This is where the solicitor prepares the draft contract as well as necessary paperwork along with the buyer’s solicitor looks over contract, consults land registry, begins look ups.
Step 5 : Exchange of Contracts
As soon as a completion date has been decided, both parties sign the agreement and the buyer gives you a down payment.
Step 6 : Completion
The conclusion of the sale is where the buyer pays off the seller through solicitors and possession is transferred.
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