Quote:
Originally Posted by JWGifford
It would be interesting to hear from one of our British neighbors. My understanding is they pay significantly less fees in Britain. Wondering if there is a difference in the level of service. Just curious.
|
In UK many sellers now use a 'Conveyancing' business.
They take care of all the paper work, list on all the main property selling sites, will send a photographer, and do all the deed work. Cost about $1200 to £2500 according to property.
Seller shows buyers round, in most cases.
Before legislation, the main online property search sites were exclusive to Estate Agents, which made self sell near impossible. Now those sites are open to all.
Estate agents are all negotiable on fee. I have never paid more than 1%. Over 2%, unless a large property, you are getting ripped off. They handle listing, photos, showing buyers round, and most have an in house or local solicitor (lawyer) to handle the deed transfer and money for closing deal. Somewhere between $650 and $1500 as a rough estimate extra for legal work.
Never heard of, or known, anyone to use a buying agent.
Buyers basically look online, see something they like, call the seller's agent, and book a viewing.
Another system gaining popularity, at least where I live, is "offers over £££££££££" then sealed bids on a closing sale date.
These are usually 'doer uppers' or quick probate sales.
Bad properties, those very hard to shift, and near derelicts usually finish at auction.