Selling a property: Frequently Asked Questions
Selling a property is much more than publishing an ad in the papers or putting it online and finding a buyer. Selling a property is a process that consists of series of steps which all need to be taken carefully in order for the sale to as satisfactory and go as smoothly as possible. These frequently asked questions will guide you to complete your process of selling a property in the most successful manner.
Can I sell the house by myself?
There is no law that prevents the owners from selling their properties on their own. On the other hand, bearing in mind the amount of professionally conducted paperwork that needs to be done in order to complete the sales process, every owner is should be absolutely positive that he or she will be able to do it on their own without any issues. Furthermore, good professional sales agents will always obtain a higher better price even when their fee is deducted.
If I hire an agent, am I allowed to sell the house myself if the opportunity arises?
In general, this should not be an issue. However, it solely depends on the agreement a seller has with the real estate agency. Therefore, if you plan to work in parallel with your agent make sure you have such an agreement. Also, bear in mind that the agency fee will have to be paid regardless of who sold the property. The fee will probably be different if you sell the house; however, it also depends on your mutual agreement.
Where to advertise?
If you are selling through an agency then you need not worry. Otherwise, you should consider all the options available. Print media are the most traditional way of property advertisement and they are still highly regarded, particularly specialized weekly editions. Local papers are also recommended. Naturally, online advertising should not be overlooked under any circumstances, especially top real estate advertisement sites.
How to set the price?
Desires and reality often do not meet eye to eye and being able to set the right price will strongly influence the sale speed. HERS index is a significant factor in determining the price, as well as the current supply and demand state on real estate market. The price of properties in your area is the first thing to take into account. If you are anxious to sell, going below the price of similar properties in the area will probably make it happen. Going above means usually means having to wait for the right buyer.
Can I change the initial price?
Yes, the price is subject to change, both if you want to increase or decrease it. Naturally, it would be unethical if you tried to increase it during negotiation process and you would probably lose the buyer. When it comes to agency fee in case of a price change, again it depends from case to case. For example, experts at Think Conveyancing provide a fixed quote that covers all the usual work needed to complete the property sale process.
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