Frequently Asked Questions

It is advisable that anybody new or experienced with the house moving process take time to read the buyers and sellers guides before going ahead, there are a number of useful tips regarding the majority of pitfalls encountered when buying or selling a home.

Before marketing

So how am I saving money?

In a nutshell you are removing the ‘middle man’ the estate agent to act on your behalf. Estate Agents generally work on a ‘no sale no fee’ basis. They often have an office that generates running costs. If a number of properties instructed on their books fail to sell the agent has already spent money on marketing. To be able to recuperate those costs and continue running the office the fees have to be able to compensate. This is why in some cases the fee can be up to several thousand pounds.

Will it cost me more to market my property if it has a high sale price?

NO. It is free to market your property on ubtheagent.co.uk no matter what type or size. UBtheagent does not work on a percentage charge. All property advertising is the same regardless of the value of the property because the marketing is the same. There are different options available to customers but they do not cost double on a two hundred thousand pound property than another property half its value.

Can I advertise whilst using an estate agent?

YES, On a SOLE AGENCY basis an estate agent is entitled to the agreed commission if they introduce a buyer and bring about the sale of your property via their marketing avenues. SOLE SELLING RIGHTS However only allow you to market through that individual company marketing your property and no other avenues.

As a homeowner you are within your rights, on a sole agency basis (and MULTI AGENCY), to advertise you property privately. Be it in your own newspaper advertisement, a for sale sign in your window and even by word of mouth. It is NO different using ubtheagent.co.uk. All we are doing is providing a property portal with which you can upload your own details. It is advisable if you are on a SOLE AGENCY BASIS or thinking of also signing up with an estate agent to notify them you are also advertising your property to prevent any confusion later down the line. You may also want to have a clause or note put into your agent’s contract that they are happy for you to advertise using your own methods in conjunction with your sole agency.

ubtheagent.co.uk is NOT an estate agent. We do not keep a registered list of buyers, book and arrange viewings, nor handle offers which all ultimately result in the sale of your property.

TOP TIP

It is also advisable you keep your emails of enquiries logged. This will then provide a record of who was interested and when they contacted you. In doing so providing proof that you sold the house privately and not via your estate agents introduction.

If you are still not sure click on the following Office of Fair Trading link which details further information on your rights.

http://www.oft.gov.uk/

And contact us on support@ubtheagent.co.uk if you have any further enquiries.

What should I tell my estate agent?

You may want to have a clause or note put into your agent’s contract that they are happy for you to advertise using your own methods in conjunction with your sole agency.

ubtheagent.co.uk is NOT an estate agent. We do not keep a registered list of buyers, book and arrange viewings, nor handle offers which all ultimately result in the sale of your property.

Keep your emails of enquiries logged. This will then provide a record of who was interested and when they contacted you. In doing so providing proof that you sold the house privately and not via your estate agents introduction.

Can I sell with or without using an estate agent?

YES, you have complete executive control whether or not you want to advertise with an agent, ubtheagent.co.uk or both.

What do I need to do in order for home information packs?

Every property marketed MUST have a HIP. You can organize your own home information pack if you wish. If you would like a quote on a HIP and would like one of our affiliated companies:

Click Here

What areas do you cover?

ubtheagent.co.uk, like any website can be accessed internationally, so any property can be advertised. At the moment the website has been setup for property based Nationwide across England. For future reference there may also be feature adverts promoting the site in your local property paper, we also advertise on other property websites listed below:

I have a property outside the UK can I advertise? Do you advertise property to rent? Or student accommodation?

ubtheagent.co.uk is constantly improving its service and functionality to satisfy our customer needs. If you have a property you wish to advertise and are having difficulty with the setup provided, please feel free to contact us and we will do everything in our power to accommodate you.

Contact support@ubtheagent.co.uk

What security of information is involved?

ubtheagent.co.uk will not give out any information regarding the details of our customers. The information only necessary to proceed with the sale of the property will be on offer. This will also be the information YOU (as the customer) will be uploading to the website, so it is up to you how much (or how little) you put on.

The Buyers and Sellers guides both have sections on qualifying information regarding your potential purchaser / potential vendors. It is advisable you read these sections carefully as they can give you useful hints and tips regarding the integrity of who you are dealing with.

Ultimately the information would be the same as if you were using an estate agent. You will be looking for basic information such as name,address,contact telephone numbers and email address. Furthermore you may want the position the buyer is in (e.g. have they a property to sell), are their finances in place and what is motivating them to move. Estate agents store this information to relay to their sellers on demand and forward what has been told to them by their applicant register.

Under money laundering legislation most estate agents have to take forms of ID to prove that their vendors are who they say they are. The conveyancers will also do this to both parties involved in the purchase and sale to confirm their identity. For peace of mind you may want to ask any potential purchasers to bring proof of identification with a passport or drivers licence (as photographic evidence) and a utility bill or bank statement giving proof of address. This can be done at the viewing stage if you so wish.

The process is the same as using an estate agent. You are simply taking out the middle man.

When is it a good time to sell?

There are a number of factors that can benefit the seller in choosing the right time to sell. These can change from being negative factors to positive factors (and vice versa) in a short space of time. There is no definitive answer to this question; however there are a number of considerations you might want to make.

• The time of year and holiday periods.

  It is plausible at certain times of the year there are going to be less buyers searching and fewer houses on the market. You can always ask your local estate agent, friends, family and other professionals when they have moved in the past. Typically winter and summer can be times of less activity due to school holidays when families generally book their holidays or are preparing for Christmas. As a result there may be less choice for buyers and potentially less houses on the market.

• Interest rates and the media

  Interest rate increases and negative articles in the media regarding the housing market can
  create a lack of confidence in buyers to move. To minimize any financial loss it is important to consider such factors. They may affect the housing market based upon the number of people looking to buy (see point 3 on buyers vs. sellers market).

• Its all relative

  Supply and demand dictate whether or not it’s a buyers or a sellers market. If there are fewer buyers and plenty of property to choose from then buyers may be able to negotiate a better deal with vendors keen to sell. If there is little choice of property and plenty of buyers then the opposite occurs and vendors may be able to increase their asking prices to potentially achieve more. If both of these are true then it is also important to remember ITS ALL RELATIVE. If you sell for less you can buy for less. If you sell for more you might pay more.

  There are exceptions to the rule in that some buyers may do well in a buyers market if they have nothing to sell such as first time buyers, tenants or cash buyers.

  Conversely some property coming onto the market may be particularly individual and warrant a high price because it is something rarely available or very different from anything else in the surrounding area.

  How do I value my property?

  The valuation process is described in the Sellers Guide in stage 4. Click on the link at the top of the page to go through the guidelines.

  During marketing.

  How do I make my house presentable?

  There are a number of schools of thought on this and advice can sometimes be contradictory. Most people can’t be forced into buying a house and may make up their minds within the first few minutes if the property is for them or not. However you want to show the property in the BEST possible way

  If you would like expert advice from a house doctor, click here

  General hints and tips that are sometimes obvious but necessary involve:

  • Decluttering
  • Cleaning
  • Redecorating
  • Finishing off odd jobs
  • Gardening
  • Staging

  NB, Sellers can often be more critical on their own property themselves than any discerning buyer and may want to feel as though they could replace a kitchen or bathroom or adjust the property in another way. Any major works should be done with a hint of caution as the money it may cost to complete such works may not add that value to the property. Nor may they be of the potential purchasers taste. Be aware that you may not see that money back in the course of the sale. If you’re viewer gives you negative feedback in regards to the property you may want to give them the option of rectifying the issues for them. For example if a seller had repetitive feedback about the dated bathroom suite, carpets or kitchen they could offer to accept less on the property or replace it to the buyers taste. Such negotiations are entirely between the viewer and vendor. Most houses will sell if they are priced correctly.

  How long do I need to advertise for?

  It is very difficult to say how the property is going to be reacted to and how quickly it is going to sell. The cheaper (or more competitively priced) a house is against similar houses for sale the easier it will be to sell. The more expensive the property is the longer it will take to sell.

  There are many factors that need to be taken into consideration such as the market conditions, interest rates, time of year, number of buyers looking in your price bracket, other competing houses on the market at the moment, etc..

  It is also possible that the property may be deceptive from the front or have less kerb appeal but have the ‘WOW’ factor when you step inside. Factors such as this must be considered when typing up your descriptions and using the choice of photos that as a vendor.

  How long can I advertise for?

  You can advertise for as long as you like,

  Where will my property be advertised?

  You’re property will be advertised primarily on ubtheagent.co.ukk, other property portals may be used at a later date to give you greater exposure. ubtheagent.co.uk will contact you under such circumstances to give you the options of marketing under additional websites.

  What sort of feedback do I get?

  Feedback will be primarily from your viewers via email after the viewing. Although it can never be guaranteed. You may want to politely remind each viewer after they have finished looking round the property that you look forward to receiving their feedback.

  Once a sale has been agreed.

  What do I do when I’ve agreed a sale or my house has completed?

  You have three options. You can continue to market the property until it completes or you can stop the marketing of your property altogether. The third option is to advise ubtheagent.co.uk and have the property flagged as SOLD STC (subject to contract).

  As a Vendor of a property it is important to take into consideration a number of factors at this point. There is no right or wrong answers

  • If the property is still marketed for sale, the current purchaser or agreed purchaser may feel as though you are still marketing the property in the hope that a better offer comes your way. In which case they will be jettisoned and the new buyer takes over (generally referred to as GAZUMPING). As a result they may also continue to look elsewhere in the event that a different, more suitable or cheaper property comes on the market.
  • If the property is no longer being advertised and the property sale aborts for any reason, sometimes through no fault of the buyers (e.g. the chain of sale breaks) the seller may have lost marketing time over a period of a number of weeks in which they could have agreed a sale.
  • There is no legal penalty for either buyer or seller if they decide to withdraw from the move or the sale has to be aborted before exchange of contacts. To satisfy both purchaser and seller it is advised that both parties make a verbal agreement or ‘gentleman’s handshake’ to commit to doing everything in their power to help the sale reach completion once a price has been agreed. Purchasers can verbally commit they will view no other property once the deal has been made and the seller can change the status of the property to SOLD subject to contract.
  • In doing so sellers can still take enquiries about the property and inform interested parties that it is currently sold but can record their contact details in the event the sale is aborted.
  • Some mortgage providers may also offer buyers cost protection and seller cost protection policies that enable wasted moving costs to be refunded in the event of anything going wrong.

  Click here if you would like an advisor to speak to regarding these policies.

  Will I encounter any problems after the sale has been agreed for buyers and sellers?

  There are numerous problems that may arise from a survey or solicitor searches and enquiries during the convincing process on the property which you may need to discuss with you purchaser. Such issues can range from anything including structural issues, damp on a property, missing paperwork, insurance indemnities and border disputes to minor enquiries and repairs to the property. It is advisable at all stages to remain calm to reach a diplomatic solution. Speak to you solicitor and your purchaser at depth to look at the different options available. If in doubt correspondence in writing can ease the pressure of negotiations and reduce the likelihood of the sale falling through.