Frequently Asked Questions for private sellers

Frequently Asked Questions for private sellers

Private Property South Africa
Julia Hinton

If you are a private seller, you may ask:

Q. What do I do if an estate agent calls me having seen my home listed on the Private Property website

A. Remember that any buyer introduced by an agent means that you will pay

estate agents commission of up to 8 percent. Buyers are not loyal to agents

and the same buyer is just as likely to find your home through Private

Property. Firmly tell the agent that you are selling your home privately,

take their details and say you will contact them in the future if you decide

to use their services.

Q. Can I use an estate agent at the same time as being listed with Private Property?

A. Yes, as long as you have not signed a sole mandate with the agent and

are prepared to pay commission of around 8 percent on any sale where the

agent has introduced the buyer.

Q. Should I have a show day?

A. We definitely recommend that you have a show day and will help you

arrange this. A show day alert will be placed on the website and sent out to

prospective buyers via SMS and email to ensure that you get a good response.

We will provide you with sales boards and useful advice on how to run an

effective show day.

Q. What should I do if I am not getting the response I hoped for?

A. The first thing to do is check that your price is market related. If

you decide to reduce it, we will immediately re-notify prospective buyers.

Even a small reduction will stimulate further interest.

Q. What do I do when I find a buyer?

A. As soon as you find a prospective buyer contact your Private Property

consultant for advice on the best way to proceed.

Q. What about a sales agreement?

A. We provide you with a standard sales agreement to be completed with

the buyer.

Q. What if your buyer needs a home loan?

A. The buyer will need to apply for a home loan either through a mortgage originator or directly through their bank. It is important to remember that a sale is not effective

until your buyer's finance is approved.

Q. Can I use any conveyancing attorney?

A. Yes you can, but we highly recommend that you use one of the attorneys

on our panel.

Q. How long will my listing remain on the web site?

A. Your listing will remain on the web site for six months. Remember that

if you wish to change your listed price, simply contact us and we will send

an SMS or email to matching buyers in our database notifying them.

Q. What are my chances of selling privately?

A. Every house has a buyer at the right price. If your house is priced

correctly it will sell.


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