Ann Maurice

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How to sell
You have three options when you sell your house. You can sell:

• through an estate agent
• via an auction
• privately via the internet and personal marketing

Estate agents:
The more you sell your house for, the more commission the estate agent receives, so technically you should all be working on the same team. But before you sign up:

• Visit a number of agents in your area and ask them to give you a valuation. Find out how they intend to market your property.
• Choose an estate agent that specialises in your type of property, not just the one giving the best price. The danger of choosing the one that valued your property the highest, is that they may quickly encourage you to drop the price back to a more ‘realistic’ level.
• What commission are they charging? Typically there will be two rates – one for sole agency and one for joint, where you give the selling opportunity to more than one estate agent. Don’t be afraid to negotiate them down.
• Make sure they are a member of the National Association of Estate Agents (NAEA), as they must abide by a code of conduct. You also get access to the Ombudsman for Estate Agents (OEA) should things go wrong.
• How long do you have to sign up for? Make sure you sign up for either ‘sole agent’ or ‘joint agency’, not ‘sole selling rights’ which means they can claim commission even if you sell privately.
• Is the cost of a Home Information Pack (HIP), which is now mandatory for all properties with three or more bedrooms, paid up front or added onto their fees? Do you have the option to shop around for a cheaper HIP provider?

Selling via auction
If you sell by auction you can set a minimum price, called the reserve price, and provided it is reached you will have the security of knowing your home is sold.

Anyone buying via auction must put down a deposit (usually around 10%), and it’s important to note the transaction will be legally binding – there is no ‘subject to contract’. The terms of the deal are set down beforehand and completion typically takes place within 28 days.

If you want to sell this way:

• Contact a few auctioneers to find out their areas of expertise. They will be able to advise whether your property is suitable for auction.
• Find out the costs associated with the sale. Do you have to pay extra for marketing?
• You will need to appoint a solicitor to get all the searches, conditions of sale and Title Deeds together ready for the sale.
• You are legally bound to sell your property once the hammer falls so make sure you have alternative accommodation in place!

Selling privately
More people are rejecting estate agents and choosing to sell privately. A whole host of websites have sprung up providing you with a platform for you to advertise your home for just a few hundred pounds, rather than thousands. Before you do tha though:

• Get an idea of the value of your home by asking several local estate agents to give you a valuation.
• Are you happy to prepare all the sale details yourself and deal with all enquiries? You will also have to be available to show potential buyers round your home.
• Will you just advertise on the internet? You can also have your own ‘for sale’ sign printed and use local papers and magazines.
• You can have your property on the books of local estate agents as well – but won’t have to pay them commission if you sell privately provided there is no ‘sole selling rights’ clause.
• You may need to arrange for a HIP to be produced, if your home has three bedrooms or more.