Selling house privately

Discussion in 'Mortgages and buying and selling homes' started by mnmaye, Aug 31, 2009.

  1. mnmaye

    mnmaye Guest

    My house has been on the market since Dec 2008 with only 1 viewing to date. Has anyone tried selling their house on privateseller.ie or sellmyhouse.com, if so had you many enquiries?
     
  2. bobalong

    bobalong Frequent Poster

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    70
    Hiya,

    From a newbie to this site - me - the following:

    - Could this be a price issue? Looking for too much?
    - Where is the house located, keeping it GENERAL of course? A City, Cork, Dublin? A Town, Village, which County? Rural Dwelling?
    - State of the property, work needed?

    That kind of thing comes to mind. I would reckon others would need a bit more info to answer your query.

    Bob
     
  3. mnmaye

    mnmaye Guest

    It’s in a village in Co. Kilkenny.

    Asking price at the moment is €225k approx which I think it fairly reasonable. It’s a 3 years old, 3 storey semi-detached in a small estate, containing 4 bedrooms, office, garage, etc.
     
  4. bobalong

    bobalong Frequent Poster

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    70
    Hi Mnmaye,

    I would say you might be suffering from the general housing collapse. According to the news today €225k is now the average house price in the country ... and falling and will keep falling.

    Where I live, our house was worth €390k in mid 07, today they are worth €250k or less and dropping.

    I would say to make a sale these days one would want to drop dramatically-ish below the average to have it stick above the crowd.

    To give you a similar real life analogy. I have now got two cars, not that I wanted same, but i bought another at the start of the year ( not new - 03 ) in the naive thought I might sell my old car. The old car is still in the garden. At this stage I am looking at reinsuring it - the cost of doing this though highish is still less than letting it rot in front of my eyes.

    If you do not need to sell the house immediately, hang in there id say. The market is stagnant, paralysed and may get alot worse before getting better!

    Thats my two cents from an amateur!

    Cheers
    bob
     
  5. chlipps

    chlipps Frequent Poster

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    how does your estimate compare to other houses for sale in the area...
     
  6. mnmaye

    mnmaye Guest

    I probably need to look at the price again, although I was hoping to make a bit of cash from the sale towards a new build, now being the perfect time to build! Other houses in the area are priced from €185k - €245k, although those at €245k more than likely need to be revised too.

    My house has a good sized garden and is landscaped (front & rear), the house is 4 bed and also has a study & garage. Quiet spacious in comparison to others in the area.

    Has anyone had success through websites other than myhome.ie or daft.ie?
     
  7. raven

    raven Frequent Poster

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    208
    If you're doing it yourself, best to advertise on daft.ie (200 odd euro I believe) , - they allow private sellers unlike myhome.ie. You can get a sign knocked up by "signarama" or some other sign maker for around 30 euro.
    Most of the other websites would get very little hits in comparison to daft.

    Do a search here re. selling privately, plenty of threads on the topic already
     
  8. Lex Foutish

    Lex Foutish Frequent Poster

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    825
    I agree with Raven. www.daft.ie is a very good option.
     
  9. sadie

    sadie Frequent Poster

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    I've been househunting for 2 years now. I rarely look at privateseller or sellityourself because the websites seem to be hardly every updated and the prices are always too high!!

    You need to factor in a bit of wiggle room in your asking price to allow the buyer to bargain you down. Never accept someone's first offer because they will feel they should have offered less, you need to haggle them up even if it's only a couple of k more. In a falling market the buyer needs to feel they have gotten a 'deal' or something 'off' the price - or furniture or something included.
    Make sure you ask your buyer do they have mortgage approval. If they say yes ask them straightaway which bank is it with (in case they are spoofing). And they will need to give you their solicitor's name then or at most a couple of days later. Basically try and flush them out to see are they serious and will they be able to come up with the money.

    Worth taking some decent photos and put the lot on DAFT.
    Put 'offers welcome' (doesn't mean you have to accept crazy offers), to show that you are ready to do business.
     
  10. angela59

    angela59 Frequent Poster

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    594
    Hi,

    Just wondering from a buyers point of view, how would they feel dealing directly with the vendor or would they rather be neutral and deal with auctioneer?

    Angela59
     
  11. Curious81

    Curious81 Frequent Poster

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    To be honest, as a ftb I would be very hesitant to deal directly with the vendor.
     
  12. haminka1

    haminka1 Frequent Poster

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    i'm a ftb and never heard of privateseller.ie or sellmyhouse.com - when looking for a property the first web page i visited was www.daft.ie
    had a look at the privateseller and sellmyhouse and the prices listed for properties were outrageous, seriously overpriced ... considering that EAs would add their commission on the top of their properties how come houses sold privately are more expensive?
     
  13. angela59

    angela59 Frequent Poster

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    I think the answer to the last post is that possbilly when selling it privately that the vendor is putting the price on that they think their property is worth not what an estate agent values it at in the current climate.

    Angela59
     
  14. haminka1

    haminka1 Frequent Poster

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    angela, that much would be clear - however, in the current climate, such thinking could be quite appropriately described as "wishful"
     
  15. sadie

    sadie Frequent Poster

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    593
    I've dealt with one seller directly and they tried to get us to buy the house privately and not tell the EA we were the people buying it.
    The other experience I have of 'sellers' comes from what EAs say about them 'they won't budge on the price'. 'They are prepared to wait until they get the price they want'. 'They don't need to sell'. 'They are thinking of taking it off the market and renting it if they don't sell it soon'.

    So it kind of gives you the impression that most/all sellers are really not wanting to sell their houses at all.
    Also discussing money in an emotional situation like house-buying is very tricky. It is ten times easier to do this through a third party.
    It's hard enough negotiating with an estate agent but I'd imagine a lot worse trying to negotiate directly with the actual house owner.
     
  16. car29

    car29 Registered User

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    41
    Hi,

    We are currently selling our house privatley and I can can assure you we are trying to sell and is priced to sell, so to say private sellers are not serious is not correct, the reason for selling privatley is the saving on Auctioneer's fees if we can, might have to go back to an Auctioneer if we cannot sell it our selves but it is worth trying first, have it up on Daft.