Selling a house privately is not an uphill task in this digital era. However, it does entail some dedicated time and efforts. But if you decide that you are going to sell your place, you will surely benefit from it. And, realize that a little leg work will definitely not hurt compared to the gains at the end of the day.
Let us first of all look at the benefits that “sell my place” has to offer:
One of the obvious benefits is that the seller does not have to pay a commission to an agent which means substantial savings. The real estate agents charge a percentage of the total proceeds of the deal.
Selling a home privately gives the seller an opportunity to test out different prices while remaining private.
When a home is sold by the owner, he gives his focused attention to the sale process. On the other hand, an agent will have a number of listings to take care of and will not be able to give the required attention to the listing.
Home-owners who are selling their property will be able to advertise the house for sale more effectively since they are personally aware of the positives of their property.
The seller has complete control on pricing, listing, advertising, and arranging showings of the house.
Since private selling of property offers so many benefits to a seller, it is becoming a popular trend. More and more sellers are looking to eliminate the real estate agent and sell properties on their own.
This leads us to the question, “How to sell your house privately?”
Selling a house privately is not a very complicated task because of the availability of property listing portals. And, if you think that for listing your house on a website you need to have knowledge of coding or software, etc., let me tell you it is a very simple process.
How to sell your property privately?
Make the Property Market Ready
Remove all the clutter from your home and clean it. Make sure that all repairs are done and there are no defects or faults. Most sellers take care of the minor repairs prior to selling the home. In case any major repairs need to be taken care of you may decide against it and give your buyer a benefit of price in lieu of the repair work. However, it is recommended that you don’t hide anything from the buyer as it could lead to legal hassles in the future.
Price the Property
You will need to affix the price of your property. This can be quite difficult for a first-time seller. Pricing has to be accurate so that the house gets sold quickly.
Choose a website
There are many property listing websites available online. Some are paid and some free. The facilities each one offers is different from others. Besides, there are many fraudulent sites that one has to be cautious of.
For selecting a website, you can check in your social circle if anyone has used any particular website for selling and how their experience has been. This can help you in choosing a website easily.
You can also check the client testimonials on the website to have an idea of users’ opinion of the website.
There are a number of independent review sites that post reviews about the portals. These reviews also provide a fair idea about the property listing website.
Based on the above, you can shortlist property listing websites.
Next, you will need to compare these websites. You can compare based on:
What all the site offers in addition to the listing. For instance, there are sites that help sellers through various stages of selling such as pricing, providing “For Sale” boards, etc.
Check if the site promotes the listing. This is because, in a highly competitive property market, you will need to ensure that your property gets maximum exposure. There are sites that share the listing on other portals and social media enhancing the reach of your property.
Find out that after listing, for how long your property will remain listed. Look for a website that allows the property to remain listed until sold.
Be clear about the expenses involved in selling through the site. Study the terms and conditions, etc. of the site clearly to understand whether there is an only one-time charge or there are any extra expenses involved in listing.
You can also think of listing on multiple websites to reach a wider audience.
List your Property
You can list your property on a website by:
Uploading a brief description that explains the features of the property such as the number of rooms, bathrooms, etc. Try not to make the description too long because the reader loses interest in lengthy descriptions.
Make sure that you mention any special attributes such as proximity to public transport, markets, etc.
Upload high-quality pictures of your home on the website. These pictures will give the potential buyers an idea of what the house looks like.
Thanks to technology, you are now able to give a better representation of your home to prospective buyers by uploading a virtual tour of your home.
Connect with Buyers
Potential buyers will view your listing online and will connect with you directly.
You can show them the property and on mutual agreement, the deal can be closed.
Closing the Deal
Final for closing the deal, you may need the help of a professional legal advisor. This is because for finalizing a property deal knowledge of the laws and regulations of the land is a must.