Selling your own home without using a professional estate agent is possible, but time-consuming. In addition to obtaining detailed and comprehensive information about the property, the potential seller has to organise viewings and complete formalities. Where do I start? What costs are involved in selling a house? These and other questions are of central importance.
Below you will find out what is important when selling your own four walls, how best to proceed and to what extent the support of an estate agent is helpful.
The most important things at a glance
Plan a period of 6 to 12 months for the house sale. Depending on the condition and popularity of your property, the selling period will be at the upper or lower end of the above-mentioned range.
If you want to sell your house, you should consider using an estate agent. This not only saves time and effort, but also speeds up the sales process and gives you peace of mind.
Please note: Selling a house with or without an estate agent has advantages and disadvantages for the buyer. For example, the buyer pays half of the estate agent's commission. In return, both you and the future property owner benefit from a professional sales process.
Selling a house: How long should I expect it to take?
Generally speaking, it takes around 6 to 12 months from the time you first think about selling your home until you sign the contract with the notary. The exact marketing period depends on the individual case. It depends in particular on the market value of the property, the location and the presentation on the relevant sales portals. It should be noted that the preparations for selling a house sometimes take the most time. This includes, for example, compiling all the necessary information and documents. Experienced estate agents naturally find this easier than non-professionals. If you want to sell your house quickly, you should definitely seek professional help.
The selling price is also particularly important for potential buyers. A house in a good location that is offered at a reasonable price will sell more quickly than a property in need of renovation that is also overpriced.
House sale process: How do I proceed?
Most people dream of living in their own four walls one day. Buying a house therefore marks a new stage in life. This applies all the more to selling a house. People who want to sell are often overwhelmed when it comes to taking the necessary steps and don't know where to start. What do I need to do first? When and where can I present my house on the Internet? These are just some of the questions that inexperienced private individuals ask themselves when selling a house.
Basically, however, the process of selling a house is straightforward and can be divided into three phases:
- Preparation
- marketing and
- the sales process.
Below you will find everything you need to know about the house sale process.
Step 1: Compile the necessary documents
In order to sell your house as quickly as possible, it is helpful to have all the essential documents for the house sale to hand. Documents that provide information about the condition or hard facts of the property are particularly relevant here. This includes the year of construction, the floor plan, any renovations carried out, the energy efficiency of the property and any special value-enhancing features. Furthermore, when most houses are sold, a current and valid energy performance certificate must be presented to the prospective buyer at the latest during the viewing.
The running costs are also important for potential buyers. Create a clear, separate list in this regard and include items such as the costs for rubbish collection, water and sewage, home insurance and property tax.
If you want to take the house sale into your own hands, you may need to contact the local authorities to compile the documents. Experience has shown that this takes a lot of time and can considerably prolong the time it takes to sell the property. Hiring an estate agent, on the other hand, simplifies the selling process and ensures that you offer your home at a fair price.
Step 2: How much is my house worth?
Estimating the selling price is a difficult task for non-professionals. Although you can search the internet for comparable houses, you will need to spend a lot of time doing this. In addition to the number of square metres and the year of construction, other factors are also important. For example, detached single-family homes generally fetch a higher price than mid-terraced houses. It becomes even more complicated when selling an apartment block. The following factors also have a significant influence on the asking price:
- The condition of the property.
- The location: The micro and macro location of the house is particularly important here.
- The potential of the property: What possibilities exist for upgrading the property through conversions and extensions?
- The current market situation: How much demand is there for houses at the moment? Are there signs of a bubble? Such a bubble occurs when buyers are prepared to pay too much for a particular property. Property sellers demand high prices for their properties, which buyers in turn accept.
With regard to the valuationof your own home, there are countless pitfalls for non-professionals. If you take over the marketing of your home yourself, you will save costs but lose a lot of time in return. The far greater danger, however, lies in asking a significantly too low selling price. The financial losses you could theoretically suffer can quickly run into four-figure sums.
Step 3: Marketing
The presentation of your property is crucial to the success of the sale. Firstly, an informative and professionally designed exposé is essential. This is your property's business card, so to speak, and the first thing prospective buyers see of your home. The most important thing here are meaningful pictures. Ideally, they create a positive first impression for the customer.
The individual sales channels also carry weight. In addition to digital publication on the well-known property platforms, publication in the local daily newspaper can pay off. Contrary to what is often said, the older generation searches for property in the traditional way.
Marketing also includes viewings. Experience has shown that only an experienced estate agent has the necessary intuition to guide prospective buyers through the property competently and professionally.
Step 4: The purchase contract
Very few sellers have problems drawing up the purchase contract. There are numerous model contracts available online. All you need to do is add the individual features and characteristics of the house to the contract. Of course, it is important that both parties check carefully whether the agreements made are included in the contract.
Step 5: Notarisation
The house sale is only legally valid if it has been notarised by a notary. The buyer enjoys freedom of choice. They can decide with which notary the notarisation should take place. The notary in turn requires the following data to draw up the deed:
- Purchase price
- Land register sheet
- Address of the house
- transfer date
- Separate agreements made between the buyer and seller
Step 6: The handover
As the seller, you should ensure that you have fulfilled all contractual obligations when the house is handed over at a later date. For example, if it has been agreed that the house will be handed over free of furniture, you should honour this. Also, don't forget to draw up a handover report. This should include the current meter readings for water, gas and electricity.
Costs and taxes when selling a house: what should I expect?
As with most purchase and sale processes, there are also expenses when selling a house. These vary considerably. Therefore, there is no generalised answer to the question of costs and taxes when selling a house.
If you have not lived in your house yourself and have owned it for less than ten years, you will have to pay speculation tax. Of course, this only applies if you realised a profit on the sale. If you have lived in the house yourself within the last three calendar years, the aforementioned fiscal levy does not apply.
Indirect costs may also be incurred. These include, for example, renovations and refurbishments, the property valuation and the preparation of an energy performance certificate. The costs for the notary and the land register entry, on the other hand, are borne by the buyer. If an estate agent is commissioned, both parties share the costs equally.
Selling a house with and without an estate agent: Can I sell my house without an estate agent?
Generally speaking, selling a house without an estate agent is only recommended if you already have in-depth knowledge of the subject. You must also be aware that you will be investing a lot of time and effort in selling on your own.
You should definitely instruct Wienroth Immobilien as your estate agent if:
- You have a busy work and family life.
- You have no expertise in the property sector.
- You want to sell your house as quickly as possible.
We will be happy to assist you with the sale of your home, from the initial consultation to the final transaction!
At Wienroth Immobilien, you benefit from our many years of experience and receive valuable tips from experts that will give you a decisive advantage.
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