Are you looking to sell your home? Get ready for a lot of fees! The average home seller in the UK pays up to £2,000 in fees to the estate agent alone.
That figure doesn’t even include other costs associated with the transaction. Is there a way to sell your house without any of these hefty fees? Yes, and this guide will help you do just that. Here’s how to sell your property without any extra costs.
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Free Estate Agents
One option you may have is to use a free estate agent. Many people associate estate agents with expenses, however, some options allow you to sell your house free of charge.
Strike is a popular website that advertises as the “Sell Your Home for Free” hub on the internet. It used to charge nearly a thousand pounds upon completion, but now it is widely used across the UK by people saying “I want to sell my house for free”.
How does it work? Strike and similar websites receive referral income to cover the cost of running the site.
Most estate agents have partners such as solicitors and removal companies that they recommend to those who list their homes with them. When the seller uses one of these companies, the estate agent receives a referral fee.
This does not affect your business but is a nice bonus for the agent who made the referral. Strike and sites like it also refer you to their partners for other moving services you may need.
You don’t have to use any of them, but if you choose to, they get a kickback.
With Strike, you get a fully managed service for everything. You take photos and host the viewings, and then you negotiate with the buyer and move through your solicitor to the day of completion.
Although Strike is the most popular option, other online services offer to sell your house for free. Most of them also offer add-on services. The key here is to do your research. Just because a site says it will sell your home for free doesn’t mean it is completely free. If you plan to sell your property through one of these services, you should make sure you are getting a good deal.
Do It Yourself
If you don’t want to use an online estate agent, there are other free options to consider. To make sure you have the best chance of success, you’ll need to plan and market effectively and be aware of any legal requirements.
Start by researching the local market to determine a fair and competitive asking price. Take into account factors such as comparable sales in the area, the condition of your home, and current market trends.
Once you have a price in mind, create a marketing strategy to attract potential buyers. Photos and a compelling listing description are essential to draw attention to your property.
List your home on property listing websites, online platforms, social media, and local classifieds. Note that some of the biggest property websites in the UK, like Rightmove, will not accept listings without an estate agent.
Don’t forget to make a “For Sale” sign for your yard and print flyers to put in local shops and your neighbourhood.
When viewings take place, present your property in the best light and be prepared to answer questions and negotiate with buyers. This can be intimidating, but it’s necessary if you want to sell without an estate agent.
Carefully review each offer and consider the terms and conditions. Negotiate with the interested buyers to reach an agreement on price, timeline, and any contingencies.
If you need any help, get in touch with a solicitor. Remember that you’re dealing with a legally binding sale, so it’s important to get it right to protect everyone involved.
Once you’ve agreed on a number, hand the process over to your conveyancing solicitors, and look forward to the day of completion.
Sell with a Cash Investment Company
If you’ve seen those ads saying “We Buy Homes for Cash,” then you know what a cash investment company is. These companies buy homes for slightly less than market value in “as-is” condition.
They may either repair the home and resell it, or make upgrades and rent it out. Selling your home this way is a great choice since it doesn’t cost you anything.
The process is simple. Firstly, you contact the company. They’ll ask you questions about your home, such as location, size and any issues like dampness that could affect its value.
Based on your answers, they’ll look into the property and offer you a cash price; usually around 80% of the market value. Many homeowners are content with this since it’s a fast sale and there are no extra fees.
If you’re happy with their offer, you can accept it. You can also negotiate but these companies usually won’t move too much from their initial price, as they need to make a profit from the home.
After the offer is accepted, they will arrange an inspection. This helps them firm their offer and look into any repair or renovation costs that may arise.
Provided the inspection doesn’t raise any unexpected issues, you can go ahead with the completion and close the sale. Often, the entire process can be handled within two weeks.
The Costs That Will Remain
No matter how you choose to sell your house – whether you do it online or through an investment company – you may still face some costs.
One of the most common is the fee paid to a conveyancing solicitor. You could try to handle the legal paperwork yourself, but unless you are a solicitor or you have knowledge of the property market, it is not advised. Mistakes could cost you thousands of dollars and even get you sued by the buyer.
To get the best result, you should find a conveyancing solicitor who meets your needs. Ask family, friends, or colleagues who have recently bought or sold a property for personal recommendations.
If you don’t know anyone, look at professional association websites like The Law Society or The Council for Licensed Conveyancers for directories of registered and accredited solicitors.
Read reviews and testimonials from other clients to get an idea of how helpful they may be. Don’t just settle on the first one; ask for quotes from several different solicitors and compare them. Consider experience as well as cost.
Removals may also be a factor. You can do this yourself if you have a valid driving licence and are willing to do the heavy lifting.
However, you may need a professional team if you want to meet the completion date. If so, talk to family and friends who have used removal companies in the past, and don’t forget to factor in experience as well as price.
You Can Sell Your House For Free
In the UK, you can offload your house without paying a penny. However, doing so will require a bit of ingenuity.
Ultimately, you may still be charged for some things, so make sure you take a look at all of your possibilities before settling on a decision.
Any thoughts about selling your home?
Are you looking to sell your house? We buy houses in any condition. Get in touch if you are thinking of selling.
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