It's a great time right now if you're shopping around for an estate agent to sell your property. But what is the best deal you can get and what is the right amount of fees to pay to an agent to sell your home?
There are several options for selling a property, and each one depends on your own preference.
- Fixed Fee - this is a pre-arranged fee drawn up and agreed on by your estate agent and you;
- Commission - this varies between 1-3% usually. You could also be charged 0.75% -3% VAT on the selling price;
- Selling privately to a property company - although there are no agency fees when selling to a private company, it's always advised to ensure you have a current property value as some companies may not pay the full value of the property if you opt for a quick sale;
Selling your property at Auction
This traditionally was once a property platform to sell houses and commercial buildings below market value. However, property auctions have now become a more secure and tested method of selling property and getting the full market value or more for your property. Although some auctions charge the vendor a commission Fee, some do no not charge any agency fees whatsoever - as the buyer picks up the auction tab. Also the beauty of selling your property at auction is knowing you have set a reserve price (the least you would accept) and also that the buyer immediately pays a non-refundable deposit on the winning bid, making the sale much more secure and avoiding buyers backing out. You can also choose an exchange date to suit yourself. If you are still living in the property, you can arrange with the buyer a more mutual exchange of contract date.
Penny Joseph Property Auction FAQ's
Q: How long does it take to sell my property at auction?
A: You can put your house up for auction for one month. You are not tied into a complete contract - you can withdraw your property from the auction by giving 4-weeks written notice.
Q: How long does it normally take to sell a house through auction?
A: It would be wonderful to answer that all properties are sold within one month - however, even though some properties do sell quickly through the online auction, on average it can take 8-weeks for a property to sell at the correct value.
Q: How do you advertise my property?
A: We take all your photographs and advertise your property on all the major portals such as Rightmove and Zoopla FREE OF CHARGE. We also add them to our own website and auction brochure.
Q: Does my property get auctioned at a physical auction with an auctioneer?
A: Properties are registered on our online auction at first - so that buyers can bid. If your reserve price has not been met, we then refer it to our physical auction which are held in different areas across the UK.
Q: Who will do the viewings?
A: We will do the viewings for you if you prefer - free of charge.
Q: Do you auction properties in every area in the UK?
Q: How much do you charge me for selling my house?
A: Nothing. WE DO NOT CHARGE ANY AGENCY FEES.
For more information on how you can sell your property for the full asking price and pay no agency fees - call Penny Joseph Estates on 01704 531541 or email us at email@example.com