house private sale

Benefits of Private House Sales

by Chris Lang on February 9, 2011
Benefits of Private House Sales

Looking to sell your house and avoid paying a huge commission to a real estate agent? This article may be of interest. Michael Atwell, the principle of ForSaleForLease.com.au, explains why you should not dismiss private house sales. Benefits of Private House Sales Private selling is on the rise in Australia. Savvy home owners nationwide are […]

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Selling a house without an agent: your options (part 2)

by Chris Lang on June 1, 2009
Selling a house without an agent: your options (part 2)

A woman makes for sale by owner signIn my previous post I didn’t get to the explanation how to advertise your house to reach the most buyers.

Exposing your house to the maximum of buyers can be achieved in a number of ways:

1. You can advertise on Domain.com as a private seller directly (as opposed to via some sort of agency or a company). At this time it is impossible for a private seller to advertise on Realestate.com.au directly, as they deal with real estate agencies exclusively.

2. You can get a company named Lawyersrealestate.com.au to advertise your house for you on both Domain.com and Realestate.com.au as a part of a package of services they offer to private sellers. The rest of the package includes photography, negotiating and conveyancing.

3. You can get your house advertised on both Domain and Realestate.com.au via a website http://www.forsalebyownerrealestate.com.au. This is a new service, I’ve just found out about it a couple of days ago.

The costs

Sign board 900x 600mm: $50 – $75 (the simple one without the photos)

Property photography: about $200 – $250

Advertising:

1. LaywersConveyancing.com.au: $4400 for the whole package, if your house is sold within 3 months. If not, you will be paying for advertising alone. Don’t forget to add 400 for the property valuation.

2. Domain.com for a month – $500

3. http://www.forsalebyownerrealestate.com.au: $300 for the first month and $80 for any additional month until property is sold.

Comparing the 3 options, here is what I think:

1. Domain.com alone won’t get your house the optimal exposure.

2. Lawyers real estate is cheaper than the agent’s fees and they include the conveyancing. However, they require a valuation by a professional property valuer which costs about $400 and takes a week to prepare. Another disadvantage is that they are setting the price range around the valuation, which could mean that the price you are after won’t be achievable.

3. The third way looks the best to me, because it covers both major websites and there are no “extras” in the bundle that you can live without but must pay for. There is a warning though – according to the policy of realestate.com.au they don’t accept listings from private buyers (read the whole story here) and this company could be promising something they can’t deliver. Buyers beware, as always.

And now over to you – have you tried to sell your own house? How did you do it? What was the outcome?

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How to buy a house – Part 3

by Chris Lang on October 3, 2008
How to buy a house - Part 3

In the part two of “How to buy a house” series I covered stages four and five, deciding what kind of house you need and what amenities you’d like to be close by. Coming to the stage six, you should have only one or two suburbs left on your list – those you will be examining very closely.

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What “Under offer” and “Under contract” means

by Chris Lang on September 20, 2008
What "Under offer" and "Under contract" means

The process of buying a house, like any other process, has several stages. Terms “Under offer” or “Under contract” are essentially the same, they indicate the status of the house through the selling process – note that they only apply to a private sale and never to an auction.

When a house is “Under offer” or “Under contract”

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Buying a house: Auction Vs. Private sale – Part 3

by Chris Lang on June 24, 2007
Buying a house: Auction Vs. Private sale - Part 3

There is also a relatively new thing, called “For sale by private bid”. It means that the house is advertised with asking price, to give buyers …

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Buying a house: Auction Vs. Private sale – Part 2

by Chris Lang on June 6, 2007
Buying a house: Auction Vs. Private sale - Part 2

A private sale is also called “Private Treaty”. A house is advertised in newspapers by estate agents, whoever is interested comes to the agency and makes his offer, the seller …

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Buying a house: Auction Vs. Private sale – Part 1

by Chris Lang on May 30, 2007
Buying a house: Auction Vs. Private sale - Part 1

When you’ve decided you’re ready to buy a house, it means that one big decision is made and you’re now in Buyers Land – a totally new territory where you have so much to learn. One of those new things is the way people sell houses – by private sale or an auction.

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