selling privately

[mia]

We had plans for the future of selling our home a 3 bed semi. I recently talked to the guy owns the house next door and he tells me he may be interested in buying our house. At present we have no where else to go but are thinking maybe we should take him up on the offer now. Money was not talked about in the conversation. He would be purchasing the house to let it out. can someone give us advice on this situation and how to deal with selling privately

Mia

 

[extopia]

The problem with selling privately to a prearranged individual is in gauging the real value of the house. If your neighbor wants to buy he should be prepared to pay market value and you can't be sure until you've done the research. You could always talk to a couple of agents about value, they will be anxious to get your business and should be prepared to tell you what price they would pitch it at, based on sales in your area.

But even that can be misleading. A house sold on my street the other day for at least 25% more than this time last year -- and it needs a ton of work.

And