|
Page 1 of 6 You can sell property yourself, but most people will use an estate agent.
You should shop around for an estate agent. Ask friends and relatives who have recently bought or sold property for recommendations. Choose an agent who sells your type of property and offers a contract that will suit you.
You should use an estate agent who is a member of the Ombudsman for Estate Agents (OEA) Scheme. You can usually find a least one OEA member in the high street. Scheme members follow a code of practice which means that, if things go wrong, the OEA will help sort out the problem.
Remember that estate agents may be in a position to benefit personally from the sale of a property. You must be told promptly, and in writing, if your estate agent, or a relative or business partner of the estate agent, wants to buy your property.
When you use an estate agent to help you sell your property, you will have to sign a legally binding contract. Before you sign, read the contract carefully and make sure you understand and agree with it. Find out whether you have the right to cancel the contract. Check how long it will run. It should allow a reasonable length of time to market your property and find potential buyers. Beware of contracts that tie you to an estate agent for a very long time. If you are unsure, get advice from a solicitor.
You may come across some unfamiliar terms in a contract. Make sure you understand what you are agreeing to. The terms 'sole agency', 'sole selling rights' and 'ready, willing and able purchaser' must be explained in writing if they are used in a contract.
|