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SELL YOUR HOME QUICKLYThe disadvantages of a private property sale
So, you need to sell your home fast. Regardless of what your particular reason is, chances are that stress, delay and expense are at the top of your not-to-do list.
Selling through estate agents is out of the question as they are often dishonest about expenses due and other contractual issues. But most significantly, you know that it could take up to a year to sell your home this way. Realising that choosing to sell through an estate agent would go against your not-to-do list on all three counts, you decide to consider your other options.
The idea of auctioning your home off evaporates from your mind and the realm of possibility almost as soon as it surfaces – after all, an auction could cost you more on your home equity!
Next, you consider the option of a private property sale, but after some careful thought you realise that this would also be less than desirable. Read on for more about the disadvantages of selling your home on the open market.
- Unless you are an expert, the odds of selling your home for a good price – especially if you are pressed for time – are not great at all. The property market is characterised by complexity and unpredictability, and it takes a great deal of experience and expertise to navigate the labyrinth that is real estate – you wouldn’t want to be taken for a ride!
- Having to pay legal fees is an unavoidable reality of every private property sale. Considering that the need to sell your home fast most likely stems from financial problems in the first place, a hefty bill from your lawyer is the last thing you need.
- Research shows that selling your home through an estate agent can take up to a year. If time is of the essence, you should be aware that a private property sale can take significantly longer – especially if you’re not familiar with the ins and outs of the property market.
- Furthermore, if you opt for a private property sale, advertising your property will be entirely up to you. Despite the stress and effort of promoting your house across a range of platforms – and having to deal with all the callers – you will also need to be prepared for considerable expense.
- Finally, private property sales necessarily involve numerous inconvenient public viewings, during which scores of strangers move in and out of your home.