When selling your property, you naturally want to portray it in the best possible light. But in some circumstances, homeowners are aware there is a problem but don’t know how much information to disclose for fear they’ll struggle to sell.
Ever since 2013, selling a property falls under the Consumer Protection Against Unfair Trading Regulations. This places the onus on the seller to divulge anything that may impact the buyer’s decision to proceed with the purchase. If the seller omits anything of importance (that they were aware of) they could face prosecution – whether the buyer asked about the issue or not.
What kind of issues should be disclosed?
However uncomfortable it may be to be honest about an issue with your home, it is better to be honest and upfront than to face legal action later down the line. The new owners could commence legal action months or even years after your sale completes.
Issues include, but are not limited to:
Flooding issues, current or historic
Japanese knotweed, current or historic
Pests, current or historic
Planning permission on the property, be that pending, granted or denied.
Disputes with neighbours that have resulted in written exchanges, local authority or police involvement
Whether the neighbours have any anti-social behaviour orders (ASBOs)
Whether there is a flight path nearby
A previous sale falling through due to bad survey results
A violent death that occurred at the property.
Obviously, there are minor things which could affect any property, such as neighbours with a noisy dog or lots of children – but we are talking about the more fundamental issues. If you are not sure what information you are or are not required to disclose, seek advice from a solicitor.
Serious issues will be revealed in the conveyancing process therefore it would be prudent to reflect such issues in the asking price. You would also be advised to demonstrate how the issues have been resolved with all relevant paperwork, or if they are in the process of being resolved.
If you have a ‘problem property’ and have perhaps tried to sell on the open-market or would prefer not to so you don’t have to disclose whatever issue you have with your home to lots of people, we may be able to help you.
WeBuyProperty are a property buying company specialising in quick sales. We have funds ready to purchase properties and have helped hundreds of sellers with tricky properties.
You can discuss any issues with us (we will have come across them all before) and we will happily provide you with a no obligation offer. If you accept this, we will guarantee to buy your house and pay all the fees, transacting within a matter of weeks or to a timescale that suits you.
Selling your home can be something tempting to try alone. Maybe you don’t want to hire a real estate agent as you need to save money and keep costs down. However you do need to be careful and use a reputable agent or service even if they are online.
Some internet agents simply list your property online — leaving you to do all the work, from taking photographs, to conducting the viewings and handling negotiations. If you’re in a hurry to sell your property or need to liquidate fast then obviously this doesn’t help much.
The truth is that there are several factors involved when it comes to selling your residential properties. And if selling them by yourself, you might unknowingly ignore important issues. Depending on your level of experience in the real estate industry, you might lack the right knowledge of how things actually work and the best way to approach them.
Have you ever thought of selling your properties directly to an online buying service? You could end up saving a lot of time and avoid a many of the headaches involved with an online listing agent or traditional agency.
At We Buy Property, we’ll reveal the most important things to consider when deciding to sell your property online and why you should sell your home to a buying service like us. Let’s get started:
Regardless of your current location, an online buying service can help you. You don’t have to rely on a local market purchaser or agent to be in your area, in order to make the sale.
Using a reputable and reliable online buying service that purchases property nationally can be a huge advantage, as they can buy your home directly from you no matter where your based.
With online listings platforms and agents, you still have to wait for someone to show interest in your property listing for that area before they contact you. With an online buying service you can get a valuation and quote to purchase your property within 24 hours.
You’re Already Busy
Selling a residential property is sometimes a full-time job. It isn’t as simple as you may think. Things to consider are the time spent in fielding calls from prospective buyers. Or the time spent to source the platforms where you’ll have to advertise the property. There are also dozens of other essential tasks before you will be able to finalise the sale with a prospective buyer.
You are already busy with your life and your job, so why not eliminate all these extra tasks and just use and online buying service.
At We Buy Property, we can help ease the process and take care of all the details. We aren’t too busy to handle the solicitor fees, valuations and legal checks to help get you a final offer. We Buy Property offers the best possible price for your home without the worry of viewings, chains and long timelines. No need to worry about your position or the condition of the property as we purchase it for cash.
Incredibly, we always work around the clock to ensure that a large percentage of our clients actually turn into qualified sellers and help them complete a successful transaction with us. If you are already finding yourself busy with activities revolving around your job and personal life, you definitely need an online buying service like We Buy Property to purchase your home.
Contracts can be complex and cost you time and money – when dealing with an online agent make sure you know what you’re signing and remember that they want your business, so challenge anything you don’t like and never pay more than you need to.
No sale, no fee
Some online estate agents will ask you to pay upfront, but some do offer a ‘no sale, no fee’ guarantee – which means you won’t have to pay if the sale falls through. But check the small print first.
Lots of estate agents, even the big high street brands, include a tie in period. But if you end up not getting on with them or become unhappy with their service you will want to terminate the contract. Make sure your contract gives you the flexibility to terminate without incurring a penalty, and go elsewhere if you’re unhappy with your agent.
At We Buy Property, we know everything that comes with contracts and closing and can simplify the whole process, and remove the stress. We are professionals. We know what is meant to be disclosed and are completely transparent and ethical in our whole process with you.
Selling a property involves signing paperwork. We know the nitty-gritty of contracts and closing and can help keep things smooth and straightforward. Having us to help you navigate through the closing contract signing situation is a significant step towards the successful sale of your home.
Deal With Us Now!
We are We Buy Property! We Offer Quick Property Sales. No Fees. No-Fuss!
Based in London, our team has worked in the property industry for over 50 years. We are proud to offer clients a bespoke service. Whatever the circumstances, our experienced staff will guide you from start to finish, supporting you all the way. Sell your house in days, not months.
We are a cash-rich principle buyer who actively seeks motivated sellers that can transact and complete in a matter of days. Our house buying service caters for all types of clientele and is designed to remove the hassle and stress associated with managing a property.
We can guarantee a quick sale that can be completed in a matter of days instead of weeks. If you think this might be of interest to you, visit our website and enter your postcode for a free no-obligation cash offer.
Selling a property can seem like a daunting task, considering it can be one of the most expensive decisions you might have to make.
There a many things you will need to take into to consideration, such as agent fees, auction fees, mortgage fees and many more things that can quickly add up. Selling your home isn’t as simple as just agreeing on a price and pocketing the final amount offered.
However, if you do your research, have the right information and understand the costs involved it doesn’t have to be so stressful. Planning ahead will help you to prepare and budget for your sale accordingly.
In this article, we’ll take you through the significant financial outlays you can expect to incur when it comes to selling your property. Besides this we’ll also provide a few tips and ideas on how you can reduce your costs.
Estate Agency Fees
When it comes to selling a residential property, the estate agency fee tends to be the biggest cost incurred by a home seller. Typically, estate agents in high street areas charge between 1% and 3% commission, including the VAT on the home sale price.
Here in the UK, reports reveal that the average sales price of a house is around £219,000. Estate agents typically charge around 2% on a home price which is around £4,380 and above in costs. If your home is worth more or your home sale price is higher you might find an increase in the commission fee charged by your agent.
When it comes to selling a home you would usually use a traditional high street estate agent. Although many online estate agents now offer dedicated local agents, the ability to just walk into a high street office is reassuring to many.
High street estate agents will often have greater overheads than their online counterparts. This includes rent for their storefront, business rates, staff, etc. These extra costs mean that you end up paying more for their services, in some cases a lot more. The usual commission for a high street estate agent can vary between 0.75% – 3% of the final selling price (often + VAT).
They’ll also be in charge of getting your property listed on their home sales portal and help arrange and host the inspections on your behalf.
Online estate agents offer their services similar to you doing it yourself, with you listing your home for sale on their website. This typically requires that you make an upfront payment for a specific package which includes a listing of the property on the site. However you’ll be organising the viewings and inspection of the property. Apart from that, some do offer advanced services similar to that of traditional estate agents to help with the management and other tasks involved in arranging viewings.
When using an online service make sure you do your research, take your time to find the best service that matches your needs. As a good alternative, when using WeBuyProperty.com you have no agents to deal with, no boards, no viewings, simply a quick cash offer within 24 hours, typically at 90% of the market value.
So now your aware of the agent’s fees, you still have to take into account the removal costs. Your removal cost depends on the amount of furniture and other items inside the property that you’ll have to remove. You should factor this into your budget before listing your home for sale. Of course, moving fewer possessions will significantly help reduce your removal costs. If your able to plan well ahead you can start clearing the property in small stages. Get family and friends to help or rent a van which can be done by yourself.
Above all, if using a removal firm you should ensure that you get your quote in advance and don’t leave things till the last minute.
The buyer covers the costs relating to search, survey, and stamp duty. However, the services of a solicitor or licensed conveyancer cannot be left out when it comes to selling your house. Their primary role is to act on your behalf, and they handle all the legal documents related to selling a property. Apart from that, they help clarify what’s included and what’s not included in the home sale agreement.
Depending on the complexity of the sales, local, and size of the property, the pricing of hiring a solicitor ranges between £500 and £1,500. However, there are parts of the transaction you can go without, but that always comes with a risk. If you want to get the specific price of hiring a solicitor, you should consider comparing quotes or probably use a comparison website to get the best deal.
Energy Performance Certificate (EPC) Costs
Usually, an EPC is a legal requirement when selling a property, and it lasts for about 10 years. So, make sure you check the validity of your current one. If necessary, you can arrange for a new certificate. The cost of an energy performance certificate usually varies between £60 and £120.
An EPC basically provides information about the energy efficiency of the home. It’s a certificate that provides home buyers with insights regarding the possible energy bills and the areas that need improvements.
The cost doesn’t end here. Other things you may need to consider can include, mortgage costs, capital gains tax, property tax, and more.
Need to Sell a Home in the United Kingdom? Partner With Us Now at We Buy Property!
It’s a big decision to sell your home and putting your trust in a company to handle your biggest asset can seem like the hardest choice you will have to make.
At We Buy Property, we have over 50 years of experience in the industry. We are a reputable and reliable home purchase company that provides homeowners with excellent insight and guidance throughout the home sale process.
We Buy Property provides a fast, cash guaranteed sale. Ultimately, giving our customers and clients a quick and easy alternative to selling their houses on the open market. Partner With Us Now: WeBuyProperty.com