We’ve had an offer on our house (not yet on the market) from a friend of a friend, who has suggested we can bypass estate agents. Is this a good idea? TBH aim struggling to think of what agents do other than market it, and if we instruct solicitors ourselves then can we cut them out of the process without any issue?
You can most certainly sell your house directly to a buyer without an agent. I did just that myself about four years ago. Met the buyers by chance and through general conversation discovered they were looking for a property. I suggested they come over to have a look at mine as I was selling (no agents involved). They came the same evening and immediately fell in love with the property. They were so excited they even waited a few more hours for my other half to come home from work. An agreement was made the same night. Next stop - the solicitors! Both theirs and mine now taking over until completion.
It can be done but Agents dont just market properties get a sale job done. They act as a go between for holding the deal together when things are going wrong. A good agent does more work from getting a sale agreed to completion than they do getting the property sold.
I sold mine without an agent. It was completely straightforward, and was handy having each other’s mobile numbers as they kept me updated on what was going on with their buyer (they sold via an agent) at the same time as their solicitor was telling mine. Saved us about £5k as well.
Yes as PP said, get them to give you an AIP from their lender. You should also be ensuring that you get a really good lawyer. A lot of solicitors who do conveyancing are beyond useless. How serious are your friend's friends? Have they been looking in your area for a long time? Find out if they need to sell something themselves. If so, I would go to an agent to find someone who may be in a better position to move forward.