Selling your house in Worcester to a friend should, and can, be a good thing. But it can easily ruin a friendship if it’s not handled in the right way.
While there are many advantages to selling your house in Worcester to a friend, including how much quicker it might be, there are some things you should consider doing to handle the process properly and retain your friendship with your buyer.
In this article, we’ll share our top three tips on how to sell a house in Worcester to a friend to avoid putting your friendship at risk.
1. Be Clear About Expectations
Selling a house to a friend can be a great way to achieve a quick, less stressful sale. But only if you’re on the same page and you’ve been very clear about your expectations of the sale.
Before you commit to selling to a friend, be clear about things including how you’re going to work together, what concessions you are, and aren’t, prepared to make because they are your friend, and, of course, what price you’re going to sell the property for.
If you’re not using an estate agent to mediate, set boundaries around how often your friend can contact you about the sale or visit the property. Because they’re your friend, they may think they can visit the property or bombard you with questions about it anytime, which may not work for you.
Setting clear expectations from the outset about the price and process is the best way to avoid conflicts and maintain your friendship during the sale.
2. Talk About the Possibility of a Fall-Through
Communication is key when selling any property, but it’s even more important if you’re selling a house to a friend.
One of the most important things you should talk about before you commit to selling your house to your friend is the possibility of the sale falling through.
Unfortunately, every sale has the potential to fall through during the conveyancing process. This could be because of issues with the homebuyer’s survey, mortgage application, searches or other reasons.
When a sale falls through, someone typically will end up losing a bit of money. This can cause tension even if you didn’t know your buyer, so it can be especially tough if it’s a friend.
To avoid problems later down the line, and risk losing your friendship, it’s best to talk about the fact that the sale could fall through and someone could end up losing money.
That way, you’ll both know what to expect and may feel more mutually understanding if it happens.
3. Remember That You Won’t Have the Help of an Experienced Estate Agent
You won’t need an estate agent to market your property when selling a house to a friend, so it’s important you remember that negotiating or making decisions your friend might not like could be tricky.
You’ll also have paperwork to organise and ensure the property deal is progressed correctly.
A property professional who has experience will be helpful, especially when dealing with friends!
Selling a house can come with its own complications and stresses! When issues arise, it’s much easier to deal with them when there’s a neutral person involved.
Get Expert Advice
If you’re thinking about selling your house in Worcester to a friend, it can still be a good idea to hire an estate agent to help manage any issues that arise.
At Shelton & Lines, we are your local property experts in Worcester . We’ll be happy to share our advice on how to sell your house to a friend.
Give us a call today on 01905 616330 or email me at info@sheltonandlines.co.uk to start the conversation.
Kind regards
Dawn