How To Sell Your House For Free
Working to sell your home? Get ready for lots of fees. The average home seller in the UK pays up to £2,000 in fees to the estate agent alone. That number doesn’t even account for the other fees you must pay in a transaction like this one. Is there a way you can sell your house for free? Absolutely, and this quick guide on how to sell the property without all of those heavy fees can help.
Free Estate Agents
One option you might have is to use a free estate agent. While most people associate estate agents with expenses, there are a few options that mean you sell your house free of charge. One of the most popular new ones is a website called Strike. It is the “Sell Your Home for Free” hub on the internet today. Once called Housesimple, the site used to charge nearly a thousand pounds once the day of completion was reached. Now, though, across the UK, people use this site after declaring “I want to sell my house for free.” The way this particular site works is that they use referral income to help pay for the cost of running the site. Most estate agents have partners like solicitors and removal companies they recommend to those who list their homes with them. When the seller uses one of those companies, the estate agent gets a referral fee. It doesn’t affect your business, but it’s a nice kickback for the agent who made the referral. Strike, and websites like it, refer you to their partners for the other moving services you might need. You don’t have to use any of their partners, but when you choose to, they get a kickback because you did. When you work with them, you get a fully managed service for everything. You handle the photos and host the viewings. Once you have a potential buyer, you’ll negotiate and move through your solicitor to the day of completion.
While Strike is the most prominent service, other online services offer a way to sell your house for free. Almost all of them offer some add-on services, too. The key here, though, is to do your research. Just because a site says it’ll sell your home for free doesn’t mean it’s completely free. If you wish to sell your property through one of these services, you’ll need to handle your due diligence to make sure you’re getting a good deal.
Do It Yourself
If you don’t want to use an online estate agent, there are other ways to sell for free. There are several steps involved with this process, and it requires careful planning, good marketing, and some knowledge of the legal requirements involved. You’ll start by doing some research on the local market to decide on a competitive yet realistic asking price. To come up with that number, you’ll want to be sure you consider several different factors such as comparable sales in your neighbourhood, the condition of your home, and what the current market looks like.
Once you’ve found an asking price that works for you, you’ll need to develop a marketing strategy to attract potential buyers. Photos are at the centre of any good strategy, so be sure you take high-quality photos of your property. Once you’ve done that, you’ll need to create a compelling listing description. Those two things will make the basis for your advertisements. You can list with a few different online platforms, social media sites, local classifieds, and property listing websites. Keep in mind, though, that some of the biggest property websites in the UK like Rightmove will not let you list on their site if you do not have an estate agent involved in the process.
As you work on your marketing materials, don’t forget that you can create a “For Sale” sign for your yard, too. You can even create print flyers that you can put in local shops and around your neighbourhood.
When you do get an interested buyer, you’ll need to arrange viewings and present your property in its best light. As you walk viewers through your home, be sure to highlight its unique features and provide relevant information about the neighbourhood and amenities. Be prepared to answer questions and negotiate directly with potential buyers. This can be hard for many people, but it’s a must if you want to sell your house for free.
If you do have an interested buyer (or two), the next step in the process of how to sell your house is to review each offer carefully and consider their terms and conditions. You’ll have to negotiate directly with the interested buyers to reach a mutually acceptable agreement on price, timeline, and any contingencies. If you need any help at this stage of the game, be sure to reach out to your solicitor. Remember that you’re dealing with a legally binding sale, and it’s important to get the details right to protect both you and the buyer for your home.
At the point where you both agree on a number, you can hand things over to your conveyancing solicitors and move forward to the day of completion.
Sell with a Cash Investment Company
If you’ve ever seen those adverts that say “We Buy Homes for Cash,” you already know what a cash investment company is. They buy homes for slightly less than market value in “as-is” condition so they can repair them and sell them to another buyer or make upgrades and rent them to tenants. This is a great way to sell your house for free. The process is fairly simple, too. It begins when you reach out to one of these companies. They’ll ask you a few different things about your home like where it’s located, how big it is, what shape it’s in, and if you know of any serious issues like damp that may affect its value. Based on the information you give them, they take a closer look at the property and decide how much they’re willing to pay. At that point, they’ll make a cash offer for you. The offer is typically around 80% of the market value of the property. Many homeowners are happy with that, though, because of the speed of the sale and the fact that there are no other fees involved with it.
If you’re happy with the number they give you, you can accept it. If you’re not, you can negotiate, but most cash investment companies won’t move a lot on that number, as there has to be enough room to turn around and make a profit on the home for them.
Once you’ve accepted the offer, the investment company will arrange for a property inspection. That helps them firm up their offer and take a closer look at any repair or renovation costs they may incur during the process of preparing it to meet their needs.
As long as the inspection doesn’t reveal any serious unexpected issues, you can then move forward to the day of completion and close the sale. Often the entire process can be handled in as little as a fortnight.
The Costs That Will Remain
No matter how you choose to sell your house – whether you sell your property online or you work through an investment company – you may still have some costs. One of the most common is the cost of the conveyancing solicitor. You can technically handle all of the legal paperwork on your own and cut this fee out, but unless you are a solicitor or you understand the property market, this probably isn’t the best move forward. You need to pay a solicitor because they tend to be experts in their field, and they’ll help protect both you and the buyer in the event something pops up. If you try to do it on your own and you get something wrong, it could cost you thousands of dollars in the long run, and you could even get sued by the buyer for your mistakes.
Instead, your best bet is to find a conveyancing solicitor who can meet your needs. The best way to find one is to talk to friends, family, or colleagues who have recently bought or sold a property. In most cases, they’ll be willing to provide you with personal referrals, which can mean valuable insights into solicitors who fit into your budget and meet your needs.
If you don’t know anyone who has recently used a conveyancing solicitor, you may need to do a bit of research to find the right person to meet your needs. Consider looking at professional association websites like The Law Society or The Council for Licensed Conveyancers. Both have directories of registered and accredited solicitors. These associations can assure a solicitor’s expertise and professionalism. You may also want to read some reviews and testimonials from other clients to better understand how helpful they might be for you. Don’t forget, to talk to several different solicitors. Don’t just settle on the first one with whom you speak. Instead, request lots of different quotes for their services, then compare those quotes side by side. Don’t overlook those who have plenty of expertise and experience in the world of conveyancing, as that can often be more valuable than the overall cost.
Removals are another fee you may need to consider. You can handle your removals if you have a valid driving licence and you’re ready to do a lot of heavy lifting. Once the contracts are signed, though, and the day of completion is set, the clock starts ticking. You may need to have a professional team handle it for you so you can meet your deadline, as failure to stay within that stated date can mean financial penalties for you.
If you need a good removal company at a great price, be sure to talk to family and friends who have used removal companies in the past. You’ll want to not only think about cost, but also about experience here, as the team will be moving all of your best possessions, and you want someone who can do so carefully so everything makes it to your new house in one piece.
You Can Sell Your House For Free
In the UK, you can sell your house for free in several different ways, but it will take some creativity to make it happen. In the end, you may still have a few different costs you incur, so be sure you weigh all of your options before you make a choice.