How to Sell Your Property Privately
With the current financial climate and a distinct lack of property buyers, today’s home owner has to look at all possibilities if they want to sell their property quickly. This is a global issue, whether you are in the USA, UK or Spain property prices are dropping and buyers are few and far between, even with the interest rates at an all time low.
So how can you get ahead of the field?
Ensure your property is ready to be sold, it needs to be clean, tidy and well presented at all times. If possible give it a fresh coat of paint!
Price the property for the market. Look at local estate agents or For sale by Owner web sites to find out how much similar properties are being sold for – you can also use nethouseprice which allows you to put in your UK post code and get a list of sold properties and the price they where sold for in the same area.
Discover what local estate agents have to offer. Ask them how they will market your property and where they advertise. Negotiate the best commission deal and ensure you read any sales contract (if possible have your legal representative review it). Some agents will have a clause stating if the vendor sells the property privately they are still liable to pay commission. Ensure this is removed or be willing to pay them as well!
Advertise your property privately using all available media – local newspapers, shop windows, For Sale by Owner web sites or all of the above.
If you are advertising in the local newspaper keep the title short and attractive A title of “Luxury Property for sale” may discourage potential buyers, inferring the price will be too high where as “4 bedroom detached house” may make them read further.
If you advertise in a shop window ensure you include a colour picture of the property and again keep the title attractive.
If you use FSBO (For Sale by Owner) see what deals are on offer. Online Property Sale is currently offering to advertise your property until sold for just ¬52. This includes a full description and up to 6 pictures of your property. They also place it on Global Property Online web site and a minimum of 10 other web sites. Included in the price is an SMS alerts system which informs the vendor when an enquiry has been made on their property.
When advertising on an FSBO site ensure confidentiality is retained by not displaying your name, telephone number or email address. Some FSBO sites display these and before you know it you will receive 100s of SPAM emails.
If you really want to sell your property there are buyers out there (even in the current climate) and you just have to work at finding them by using some or all of the methods described here – these could help you get ahead of your neighbour. If selling your property is paramount exploit all forms of advertising, manipulate the resources available to your advantage and make them work for you.