Selling Privately

shelby67

Logo wrote: »

I'm selling house without auctioneer and these are the few tips I've learned from t'interweb:

Solicitor: €1500 + VAT @23% = €1845/ Fixed price 1350 + land registry fees
Legal questions re title, planning, easements,, LPT, charges, VAT clauses, special conditions, draft the contract of sale, answer requisitions on sale and pre contract enquires, review the Deed of Conveyance/ Lease, give undertakings where required. Ensures buyer has the funds.
The seller's solicitor will draft contracts: deals with special conditions; replies to pre-contract queries; replies to requisitions on title; drafts closing declarations; explains the searches; redeems the mortgage; arranges for the mortgage to be removed from the title; etc. A purchaser's solicitor will only deal with a qualified solicitor with professional indemnity insurance, as will the bank. The bank issues a Letter of Loan Approval to the purchaser and will require a Certificate of Title from the purchaser's solicitor.
The purchaser’s solicitor will not do the sellers solicitors job for a number of reasons.

1. it’s illegal to act on both sides of a conveyancing transaction.
2. It's up to the Purchasers solicitor to make sure they have good title and draft the documents to sell it.
3. it’s up to the Buyers solicitor to check that title you are buying is good title.

If you are selling privately it would be well worth your time to get YOUR solicitor to perform all the legal checks the buyers solicitor will be carrying out and make sure everything is in order and correct. Otherwise the sale can be held up on your end. You're going to have to employ them anyway so you might as well use them to your advantage.
When I sold my last property, I didn't bother taking a booking deposit as it is completely refundable if the sale doesn't go through. So why go to all the hassle - a purchaser may be reluctant to give you a large deposit (usually 10% of the sale price) - but your solicitor may hold it on your behalf.
As regards a solicitor, any solicitor will deal with your conveyancing - some will work on a fixed fee while others will wait until the deal is finished and provide you with an invoice. (https://www.askaboutmoney.com/threads/sell-property-without-estate-agent.200501/page-2)

Estate agent: 1.5%+€300 (ads, photos, brochure etc)=€4800 (on 300K)
- Vendor’s engagement with the Estate Agent is generally on a no-win, no-fee basis (apart from advertising costs)?
Estate agents used to charge approx 1.5% of the sale price - that's a whopping €3,750 for a €250,000 house! I am more concerned about the house appearance during a viewing and reckon that the money might be more constructively used in house redecoration/ leasing of furniture etc.

Daft.ie Three packages. 300, 400 and 500 (daft.ie/ad-entry/sale). If I was going the DAFT route of paying 299 I would be buying myself a new phone though. That way when its done you can turn it off. Be careful when doing viewings as a few friends have mentioned about stuff going missing. This probably happens more often on open viewings where estate agents hang around the kitchen and people wander freely from room to room. Best to put valuables and photos away also until after going Sale Agreed.

Did you make floor plans are simply put up pictures on Daft?

Logo

shelby67 wrote: »

Did you make floor plans are simply put up pictures on Daft?

I'm about to put pictures on Daft without floor plans - but I will include rough room dimensions.

bido

daft are the only ones to take private ads. and it works sold our house last year.

ted1

Radiant Cool Crazy Nightmare wrote: »

I sold my old home last year privately, but like other posters it was a neighbours friend who approached me when they heard I was contemplating selling. Saved a lot by not involving an estate agent. If your property is in an anyway popular area I would definetley attempt to sell it privately as it coild well be worth it for the chunk of change you could save.

You probably undersold it and lost money by not selling it in the open market

Radiant Cool Crazy Nightmare

ted1 wrote: »

You probably undersold it and lost money by not selling it in the open market[/quote]

No thankfully we didnt. We just got lucky in that I gave him a price that he accepted to pay well over the valuation that was placed on the property by the financial institute we were getting our new mortgage with. He really wanted that exact house. It was a celtic tiger built estate and there are still houses being put up for sale and being sold currently that are not receiving what we got for ours over one year on. This is also without us having to pay the 1/1.5% estate agent fees on the sale so we saved a lot by not involving same. We just got lucky for once.

M.Cribben

I was shocked when selling a property last year how much more work our solicitor did compared to EA (who received 3 times the money).

Claw Hammer

M.Cribben wrote: »

I was shocked when selling a property last year how much more work our solicitor did compared to EA (who received 3 times the money).

Unless the EA had done his job, the solicitor had nothing to do.
EAs also go to a lot of trouble in some sales, with multiple viewings, negotiations and broken deals. It is swings and roundabouts for them. Some properties will sell quickly and easily, others will never sell at all and cause a lot of trouble.