Buy a house for the first time without an estate agent
Last updated: April 2008
Traditionally, buying a house is done through an estate agent. Nowadays, alternative ways of buying a house have become increasingly popular. We take a brief look at each way to buy.
Buying through an estate agent - To keep this fair, there are advantages to buying from an estate agent. Firstly, it is the most common way to buy a house. The downside to buying through an estate agent is that you are buying from a middle-man that is doing their best to sell for the highest amount possible. Always remember that estate agents work for the seller. Finding a house sold by an estate agent is pretty easy - look in estate agents' windows, or drive around the local area and you will see estate agents' For Sale boards.
Buying at auction - According to The Sunday Times, 90 percent of cheap property is sold at auction. Properties are usually auctioned because they have been repossessed, or because the owner has had difficulty in selling the property through other means. This makes it particularly important to visit any property you intend to buy before bidding. You can find properties up for auction on specialist property auction websites, although some will require you to pay to access details of properties that feature in an upcoming auction.
Buying privately - Most sellers are not keen to let estate agents take a large amount of commision when selling their house; selling privately is one way to avoid this. As a buyer, you need to search in different places to find houses that are not in windows of estate agents. Firstly, there are websites that are dedicated to showcasing privately sold property such as BuyItPrivately.com and MyPropertyForSale.co.uk. Also, try visiting your local supermarket to see if property is being advertised on their advertising boards.
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Article by Tim Ballard.
February 2008 (updated: April 2008)
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User Comments
Tim from Suffolk said...
Go on, be the first to add a comment!
Thursday, April 10th 2008 06:53 PM
Luca from London said...
Hi, beside the ones you mentioned, lately, proper online estate agents are opening and offering similar services to buying or selling privately. I am using www.webresidential.co.uk and I trust them because they are registered. Prices are more or less the same but I find their advertising package better. Their customer service is pretty good as well.
Thursday, August 14th 2008 04:59 PM
Peter Tame from London said...
Ive used many including webresidential which are good but best so far for has been www.landlordlet which seem to use more web sites.
Sunday, July 5th 2009 07:02 PM
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