How To Sell My Property in Islington #3: The Instruction & Method of Sale

Selling your home in Islington, N1, involves important initial decisions that can significantly impact the process. In this blog post, we will explore two factors to consider at the early stage: the type of instruction chosen and the method of sale used.

When it comes to the type of instruction, it is good to understand the agency terms before instructing your personal estate agent. There are three agency instructions in the UK: Sole Agency, Sole Selling Rights, and Ready, Willing, and Able Purchaser.

The most common choice is Sole Agency, where you instruct a specific personal estate agent to market and sell your property while retaining the right to sell privately without incurring any fees. For instance, if you would find the buyer yourself (for example a family member or a neighbour) you don't have to pay your instructed estate agent a fee.

Once you have chosen your personal estate agent, the method of sale becomes a significant consideration. The wide majority of property sales in the UK are concluded using the method 'Private Treaty'. In this method, your estate agent negotiates the deal between you and the potential buyer, allowing for flexibility throughout the process. The Private Treaty method encompasses various stages, including buyer financing arrangements, property surveys, and legal searches - which take place after the offer from the buyer has been accepted by the seller. While these stages can be completed swiftly, unexpected complications may arise, potentially lengthening the timeline.

That's why one of the main advantages of 'Private Treaty' is that neither the buyer nor the seller is under time pressure. This flexibility allows both parties to negotiate until the exchange of contracts. However, it is important to note that the main disadvantage is the lack of certainty until the exchange takes place. The Private Treaty process can be emotionally challenging, but with the guidance of your personal estate agent, you can navigate the journey more smoothly.

Because your personal estate agent plays a crucial role in providing support and advice throughout the process. They will explain the agency terms and ensure transparency regarding fees. They will also negotiate with potential buyers and manage the various stages of the sale. Their expertise and guidance will help you navigate any challenges and make the most of the selling experience.

In conclusion, when selling your home in Islington, it is vital to consider the type of instruction and the method of sale. Consult with your personal estate agent to find out what is best for you and your circumstances. Understanding the agency terms and selecting the most suitable instruction will establish a transparent working relationship with your estate agent. The Private Treaty method offers flexibility but requires patience. Your personal estate agent will be there to guide you and provide support during what could be an emotional rollercoaster.

Selling your home is a significant endeavor, and with the right knowledge and assistance, you can navigate the process successfully. Have a great day! //Jacob Littorin

Your Aspiring Estate Agent in Islington, N1