Have you ever thought of selling your house on eBay, just like you would sell an old CD? Believe it or not, this is possible!
The process is quite simple: just upload your property with all the necessary information and wait for the bids to come in. You can customize the auction format and even boost your advertisement. But is it really that easy?
eBay has been a cornerstone of the internet’s ecommerce for a long time. People flock to it for getting great deals and selling their unwanted items. But did you know you can use it to sell property too?
Table of Contents
How to sell a house on eBay?
Much like when selling items on eBay, a listing is needed for your property. This time, however, it must be put on as a classified ad with a fixed price. The listing only lasts for 28 days, after which it must be relisted again.
To make your ad stand out, include clear and detailed photos and a description that highlights the property’s features. With an attractive price, carefully chosen words, and engaging photos, you may find lots of potential buyers.
What does it cost to sell a house on eBay?
Unlike traditional listings on eBay, property sales come with a slightly higher cost. Compared to the special seller rates of items such as clothes or video games, the listing fee for the property is a standard £35.
Additional fees for cash handling via PayPal and similar services may be added on top, but unlike eBay auctions, there is no final listing fee.
Before eBay changed their rules on this, people could end up spending close to £10,000 in additional costs, on top of the listing amount.
Considering classified ads only run for 28 days, sellers may have to put up the ad multiple times before receiving an offer.
It is not legally binding
A sale on eBay is not legally binding, making the process more complicated. According to UK law, interested parties can submit offers, you can accept them, and then they can back out. Likewise, you, as the seller, have the right to withdraw from any potential sale.
It’s advisable to get legal documents drawn up, but this adds to the cost, decreasing the value of your home. eBay recommends that a contract is made between the seller and buyer, to discuss how the process can move forward in a way that works for both parties.
Non-binding auction
With an eBay house sale being non-legally binding, it is known as a non-binding auction. This means that neither party has a binding commitment to complete the transaction.
Therefore, it is strongly recommended that you get advice from a conveyancing solicitor. Doing so will help protect you from any potential scams, if you decide to sell on eBay.
An alternative to selling a house on eBay
Whilst eBay may seem like an attractive option, it is not legally binding and does not guarantee a sale. For this reason, many people are turning to cash house buyers that offer a guaranteed sale.
Property Saviour is a great example of this, as they cover legal fees and provide fast sales no matter the location or condition of the property.
The team at Property Saviour have extensive property experience and is more than capable of helping you sell your house quickly. With their “We Buy Any Home” service, you can get a no-obligation cash offer in no time.
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
