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Direct sale, no estate agent - price difference?

7 replies

newsparklythings · 21/07/2018 12:57

First time buyer here

A neighbour is selling, as I know them we don't need to go through an agent, I assume they would save something in agent fees.. how much?

This is on a property approx £175k in value, middle of the country

OP posts:
Hereshopingforimprovement · 21/07/2018 13:01

Yes they will but conveyancing fees are higher (or they are in Scotland). I sold a similar value property to a tenant and gave a 5k discount but he was also saving me a min of 2.5k in lost rent while I sold as didn't think it was fair to have tenants in during selling process.

Hereshopingforimprovement · 21/07/2018 13:02

Ask them to get a quote for a direct sale and a quote for normal sale and split the difference?

newsparklythings · 21/07/2018 13:22

Thanks

OP posts:
theluggageslegs · 21/07/2018 13:54

We just bought a house directly from the owners and split the difference in estate agent fees or we got the house for £5k cheaper and they got £5k more than they would have if they’d gone via an agent (fees would have been £10k incl VAT.) Conveyancing costs were no different.

DancingLedge · 21/07/2018 16:56

No reason conveyancing fees would be higher ,in England.
Just means without estate agent fees, sellers can afford to take lower offer.

The only thing you don't have is an intermediary to point out to them if they're being unreasonable at some point.. But presumably you would have a good idea of that if you already know them.

DancingLedge · 21/07/2018 16:58

But, if you say they're selling, is the house already placed with an agent?
If so, the sellers may have to pay them, even if the agent doesn't find the buyer, if the sellers signed a contract with sole selling rights.
Let's hope not.

HopefullyMoving · 21/07/2018 20:27

We are buying direct now.
The seller got a valuation with an agent and we used that as a basis.
She didn't instruct the agent so she doesn't have to pay the fee.

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