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What you can expect by selling your house privately

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What you can expect by selling your house privately

There has never been a better time to sell your house privately. By eliminating agents and taking things into your own hands, you can save tens of thousands of dollars in fees, and still sell your property for a good price. However, despite the many benefits of selling your house privately, it is also imperative that the vendor is well prepared before beginning the process. With these simple tips and tricks, we hope you can gain a better understanding of what to expect when selling your house privately.

The benefits

The benefits of selling your house privately are obvious, with the biggest factor being significant savings; By cutting out real estate agent fees, you can expect to save anywhere between $10,000 to $20,000. If you do things right, you can also expect to save money in the marketing and staging process.

As with anything, the huge savings will be reliant on your time and labour, but with a strong comprehension of the private market and negotiation process, you can work efficiently to sell your house at a great price and save thousands.

Home-buyers searching the market are often more confident in placing an offer if the property is for private sale. This is simply because, without an agent, there is more room for negotiation and, potentially, savings for both parties. You will likely be contacted by a range of interested buyers, who will be keen in attending a private home inspection before placing an offer.

Another factor to consider when selling privately is the valuable assistance and accessibility that the internet provides. There are an array of helpful articles, tips and tricks already at your fingertips; plus, here at Homesta, we help to directly connect vendors with potential home buyers, making the process a whole lot easier.

The negatives

The main problems that may come from selling your house privately arise mainly as a result of poor preparation. Majority of these complications can be solved through communication, but the key to avoiding these issues is simple: Organisation!

The more prepared and understanding you are of the private sale process, the easier it will be to navigate.

How does the process work?

The process for selling your house privately can be broken down into the four most important steps:

Research, preparation and organisation: This step is arguably the most important, as a good understanding of your homes market value is essentially what will get you the best deal! This is also the time to get a head start on filing paperwork and setting up the framework for further down the track.

Marketing and advertising: Although this step can be done alone, we recommend bringing in the experts. A professional property stylist can help with the staging of your home, and a photographer can help capture the warmth and aesthetic appeal your home, so you can list it online.

The negotiation: The negotiation process takes place after you’ve received an offer that you’re somewhat happy with, this is the time to try and squeeze the best deal out of your potential buyer and get a great price for your property!

Administration, paperwork, and closing the deal! When both you and the buyer have come to an agreement, then it’s time to close the deal. Make sure to tie up all the loose ends, and don’t forget to properly and timely file all the paperwork.

When it comes to selling your property - private is the way to go. It’s appealing to buyers, cost saving, and with the help of Homesta easier than ever!