Property prices are on the rise, and that means estate agency costs are on the rise. Estate agency fees are one of the biggest costs when moving house, but what if you could eliminate that cost by selling your house yourself? Our guide to DIY house sales will tell you everything you need to know about doing your own house sale and help you decide whether it’s the right route for you.
Deciding on an asking price
Your first challenge, if you want to sell your house yourself, will be deciding on your asking price. When selling with an estate agent, your estate agent would come and value your property and suggest the price it should be marketed at. When you sell your property without an estate agent, you’ll need to decide on your own asking price.
Looking at what’s currently for sale in your area is a good place to start with setting your asking price. You can also gain a wealth of information about recent sold prices for similar properties in your area by searching some of the big online property portals.
Advertising your property
Once you’ve decided on your asking price, you need to think about where you’re going to advertise your property. Social media can be a great channel to find a buyer, but you might also want to consider a property website such as The House Shop or House Ladder.
Before your property is formally marketed, you will need to have an Energy Performance Certificate (EPC) assessment carried out. These typically cost between £50 and £100, and you can find an accredited assessor by searching for ‘EPC’ on the government website.
Viewings and negotiating an offer
Once you’ve advertised your property, you will hopefully start receiving requests to view your home. If you want to save money by not using an estate agent, you’ll need to arrange and conduct these viewings yourself. This can be helpful to the viewer as you should be able to answer any questions they have about the property, but it’s not something that every homeowner will feel confident doing.
If any of your viewers wish to make an offer on the property, you’ll also need to manage the negotiations to reach a mutually satisfactory figure.
Connecting the conveyancing process
The final role that estate agents play in the house selling process is to keep all the parties connected and drive the sale forward. If you choose to sell your own property, you’ll need to take responsibility for this and ensure each party has all the information they need to progress to the next step.
Selling your own property can certainly save you a considerable amount of money, but there is a reason why not everyone does it. It is certainly not the easiest or least stressful option for selling a property and you should definitely think carefully before making the decision to sell without an estate agent.
If you like the idea of being more in control of your sale, but aren’t brave enough to sell your property on your own, you could also consider using a cash home buying company. A home buying company will purchase your property directly, which cuts down on a lot of the time and hassle of selling your property through an estate agent or by yourself.