Private sale without estate agents?

[lagjett]

Anyone brought a property privately? How simple is the process without estate agents involved?

We just viewed a friend of a friends house before they listed it, we had been waiting for something to come up in the area and this house is perfect for us. Happy with the price they want for it etc. But we’re first time buyers so not really sure where to start without guidance from an estate agent 🫣Do we just instruct a solicitor, let our mortgage broker know and go from there?

Have not done it this way, so good luck! Get a survey so you know what you’re getting, and maybe don’t get too attached until the survey is back so you don’t emotionally invest and then discover it needs lots of work doing, and then leaves you having tricky conversations with friends over money. It could kill a friendship if goes tits up. The sellers also need to instruct a solicitor too, and let the solicitors start talking. The estate agent role at this point is mostly to hussle things along for their commission.

Yes I've sold this way before, not bought. It's absolutely fine to go without the EA, their job really is the marketing of the property. All the legal work, searches etc are done by solicitors , surveyors and mortgage brokers if you're using one. The only real job the EA does IMO is communication between parties and chasing people upto make sure the sale proceeds, which is useful IME in chain situations with multiple different buyers and sellers, and/or with reluctant or unmotivated parties which hopefully you won't be. In your case hopefully as you know the sellers personally communication won't be an issue. As you say I'd start with finding a mortgage broker and/or a solicitor and go from there, they will advise as to the correct process.

My only note of caution would be against mixing business with pleasure, and given the amounts of money involved buying/selling a house is really business, but stressful/emotional business at that. You could be potentially jeopardising your friendship, how will you feel for instance if the survey throws up something nasty and you need to renegotiate price, or if they change their mind and drop out before exchange leaving you having wasted money, or if they leave the house dirty and in a state, if you feel common scenarios like these would put you in an intolerably awkward position with your friends then don't do it. On the other hand you may feel the house is worth the risk!

I've sold a house in that way, and it was fine.
Just make sure you each have a good solicitor, and instruct them. Keep in close touch about what's going on (not just through the solicitors) and agree that your friendship matters too and be tolerant if either of you has to pull the plug for any reason.
Good luck.