Is Selling Your Property To A Friend A Good Idea?

11th August 2021

Is Selling Your Property To A Friend A Good Idea?

A private property sale is a situation where a seller decides to deal directly with a buyer rather than involving an estate agent. Often this means a transaction between friends as it can be hard to find a buyer otherwise.

Here at Maslen Estate Agents we've seen this happening more often recently and have had to deal with a number of sales where someone in a chain will be selling privately.

Although it might sound like an easy way to save time and money, it can end up badly and might even cost you a friendship.

Mixing Business with Pleasure

At the bottom line selling a property is a business deal and there are plenty of old sayings and sage advice about not going into business with friends. 

Where large sums of money are involved it can be hard to separate friendship from 'good business sense'. For instance, if you were selling to a friend and their survey brought up some previously unknown problem prompting them to ask you to reduce the price, how would you feel? What if they told you they were having trouble raising the funds and asked for a last-minute reduction?

Chains and Dealing with Other Estate Agents

Another thing to take into account is that third parties involved in the process won't know your friend, so they may well not take a chance on them, resulting in your offer to buy their property not being accepted.

It is the job of any estate agent to look after their seller's interests, and that means making sure that buyers are serious and have the funds (and a strong chain) to see the deal through. This can make any chain which involves a private sale much more complicated and risky than usual.

Often a private buyer won't engage with us in the usual way, so it makes it very difficult for us to do our 'due diligence' process. At Maslen we've had at least one recent clear example of this where our seller has lost out on buying a property with another agent purely because they couldn't check out the chain fully and wouldn't take a chance.  

Sale agreed, job done?

After we had arranged a buyer for one of our recent clients, the home owner thought that our job was then done and they wouldn't be hearing from us again.

Nothing could be further from the truth and any reputable estate agent would be horrified that clients would think this was the case!

Getting a sale across the finishing line and handing over keys is a process that starts with marketing a property and finishes the on the day of completion when the move is made. So much of our work actually takes place after the sale is agreed and if you choose to sell privately that this is something that you'd have to do yourself.

Problem solving

It's a fact that most sales involve more than two parties as there will usually be some kind of chain, where sellers are buying another property and buyers are selling one and so on.

In some cases this can get quite complicated and a huge part of our work is making sure that everyone involved in a chain is moving forward at the same pace.

Not only that, solicitors, surveyors, money laundering checks, land registry and local authorities searches all rely on third party professionals doing their job within a certain time frame.

Dealing with these people on behalf of our clients is all part and parcel of an estate agent's day to day job.

So if you'd like to sell your home without the stress and complications of all the work that goes on behind the scenes, or if you'd simply rather not risk falling out with a friend, then call us today on 01273 278866 for an accurate and up to date valuation, and let's get you moving.

Testimonials

  • Cannot express our appreciation enough of all the efforts made by the Woodingdean team - they were fantastic.

    Mr John Mogridge Woodingdean

  • A really good experience.

    Mr Tibble Lewes Road

  • Paul was absolutely brilliant. 

    Mrs Tasker Fiveways

  • Thank you Maslens, you were all excellent!

    Miss Jasper Taunton Road

  • Paula was absolutely amazing!

    Mr & Mrs MacKay Lewes Road

  • Excellent customer service throughout. I will definitely recommend you, and use you again. Thank you.

    Ms Longley Kingsbury Street

  • In February 2016 I was looking to buy and sell very rapidly. Competition among buyers at the time was very high. Sharon @ the Woodingdean branch sh...

    Ms Helen Lyons Woodingdean

  • A very committed team who made the sale process very easy.

    Ms Rees Ticehurst Road

  • The whole team were excellent, each one of them felt like family. Sharon had a lot of sorting to do at times but coped very well, a true profession...

    Mr Vernon Woodingdean

  • It was a long, drawn out process that the people at Maslen helped me through, without the impression that it was a chore. So extremely professional...

    Mr McLagan Lewes Road

  • Paula is amazing!

    Ms Aspnall Gladstone Place

  • Fantastic service. By far the best agents we have ever used, I cannot recommend you highly enough.

    Mr Field Mafeking Road

  • Very impressed with all dealings with Maslen. Paula Carter was in particular very knowledgeable and helpful. 

    Mr McBlane Hove

  • Very, very happy we chose you, felt right from the start! Thank you!

    Miss Blackadder Coniston Court, Holland Road

  • Very pleased with the service. Many thanks to Sharon and the boys!

    Mr Flynn Woodingdean

  • I would recommend Maslen to anyone. 

    Mrs Tripp Woodingdean

  • Paula's role was brilliant. Having someone office based and available was so appreciated and her promptness an impressive service - every Estate Agent...

    Ms Wynn-Jones Baxter Street

  • All the staff I dealt with were excellent. Sharon worked really hard to complete the sale.

    Mrs Bent Falmer Gardens

  • Very happy with the service we got from you guys, everyone we dealt with was extremely friendly, professional and helpful. Thanks!

    Mr Brown Titian Road

  • Very thorough & very informative.

    Mr Michnowicz Waldegrave Road

  • I found the service to be courteous, friendly and efficient.

    Mr Upton Buller Road

  • Thank you for everything!

    Ms Tucker Willow Close

  • I wish we had used you to sell our property! Nice to meet honest people, who are genuinely interested in helping. Very pleased.

    Mrs Porter Taunton Road

  • It was an amazing experience, everyone involved were fantastic. 

    Mr & Mrs Knight Woodingdean

  • The whole team were very committed from start to finish.

    Mr Pilgrim Lewes Road

  • All agents at Maslen were extremely helpful and polite from the beginning to the completion of sale. 

    Mr Johnson Fiveways

  • Very pleased with the experience. I would definitely recommend you and use you again.

    Ms D Edmonds Horton Road

  • Good team. Straightforward. No nonsense.

    Mr Standing Newmarket Road

  • Already recommended you! Thank you.

    Mr Edwards The Ridgway

  • Our local office manager, Sharon Wareham was warm and friendly and kept us up to date at all times.

    Mr Hope The Brow

  • Compared to your rivals, your service was excellent

    Ms McGrigor Milner Road

  • Hugely impressed with Ben & his team.

    Mrs Mead Upper Lewes Road

  • Service exceeded my expectations overall at all stages of the process - I wouldn't hesitate to recommend you. Thanks. 

    Ms Greene Lewes Road

  • Very impressed with the service. Sharon Wareham works tirelessly, very professionally and is always there for advice. 

    Miss Matthews Kipling Avenue

  • Sharon was excellent, she kept us informed at all stages and was a really calming objective influence in the process.

    Ms Frederick Channel View Road

  • Thank you Paul and Archie, you gave an excellent service, as well as Kelly. I look forward to working with you again. 

    Mr White Fiveways

  • Very pleased with the excellent service throughout. Professional, friendly, efficient and no hard sell. Achieved above asking price. Thank you!

    Mr Witten Lewes Road

  • Very impressed with the efficient and friendly service, the staff were a pleasure to deal with. 

    Mr & Mrs Gill Lewes Road

  • Extremely efficient. Nick and Paula are excellent. The weekly phone calls were much appreciated. 

    Ms Gray Lewes Road

  • From start to finish the sale was dealt with in a thoroughly professional manner.  

    Mr Gibbs Lewes Road

  • As always, an excellent service. 

    Mr & Mrs Field Lewes Road

  • Very helpful and patient team.

    Mrs Shea Selborne Place

  • Sharon was amazing! She kept us up to date the whole way through the process. We cannot fault Sharon or the rest of her team. 

    Mr & Mrs Ashley Woodingdean

  • We were very impressed with the Nick from start to finish. 

    Mr & Mrs Smith Lewes Road

  • Quality advice about when and how to sell, which was spot on. Thank you.

    Miss Coleman Buller Road

  • First class service from a first class team.

    Mr & Mrs English The Ridgway

  • Paul Wilkinson was extremely helpful and efficient. The only problem was the vendors solicitor and Paul warned me of this. A good transaction all r...

    Mr Lavender Fiveways

  • Excellent Service from start to finish.

    Mr T Mole Cromwell Road

  • Harvey was helpful and easily reachable at the beginning of the process and Sharon kept us informed and was always happy to help.

    Ms Murch & Ms Mapa Ticehurst Road

  • You were amazingly helpful throughout - a real pillar of strength with a very difficult sale.

    Mrs Parkin Fiveways

  • Many thanks to Nick. It was an easy process thanks to you! I'm extremely satisfied with how the sale went, great job.

    Ms Mayanobe Aymer Road

  • Great service, always polite and friendly. Excellent contact and info all the way.

    Mr Wells Bishops Road

  • Nick and Paula are total stars! They were incredibly supportive and present throughout. Thank you!

    Miss O'Haire Hove

  • Sharon was excellent - kept us well informed, thank you so much!

    Ms Waters Cowley Drive

  • Maslens as a whole were really friendly and professional. I have to thank and congratulate Paula Carter for being superb at her job and exceeding m...

    Ms Warren Hove

  • Paula was fabulous and we felt really informed and supported. 

    Mr & Mrs Walker Lewes Road

  • A good team at Woodingdean helped us through a stressful time.

    Mr & Mrs Penton Sycamore Close

  • We were delighted with the service received from all the staff with whom we had contact,

    Dr Crichton The Ridgway

  • Exceptional service throughout the process - should we decide to sell in the future we wouldn't hesitate to use your agency. You're a cut above the...

    Ms Windels & Mr Barham Fiveways

  • The Woodingdean team were very friendly and approachable.

    Mrs Palmer Pitt Gardens

  • Excellent service as always

    Mr Field Ringmer Road

  • Very good service and communication. Paula was excellent.

    Mr & Mrs Scarboro 1 Pevensey Road

  • Outstanding service from Sharon. James is an asset to Maslens & Harvey was so helpful and polite.

    Ms Cianchetta Selhurst Road

  • Excellent service from the Lewes Road branch. Martin Timms secured a quick sale & at a good price & Paula Carter worked really hard to secure...

    Ms Schulte Bear Road

  • A very positive experience - I had most contact with the Fiveways office and they were so friendly and helpful.

    Ms A King Balfour Road

  • Please thank Paula at Lewes Road - Excellent service. 

    Mr & Mrs Nuthall Lewes Road

  • Superb service as usual, I would always recommend you.

    Ms S Hike Blackthorn Close

  • An efficient, professional and friendly service. Helpful and a pleasure to do business with.

    Mr Beddington Brading Road

  • I have bought and sold 7 properties, and this was the best experience of an estate agents services I have found.

    Mrs Shepherd Hertford Road

  • Thanks David, all very professional.

    Mrs Flowers Foxdown Road

  • Brilliant. Well done to Sharon and the Woodingdean team.

    Ms Curtis The Ridgway

  • Thank you. We found all the staff knowledgeable and really pleasant to deal with. 

    Ms Ansloos Lewes Road

  • The sale was dealt with swiftly, professionally and successfully. Thank you Maslen!

    Mrs Lincoln Hove

  • Sharon and her team could not have done more in what was a difficult sale. 

    Ms Daly Woodingdean

  • Graham Griffin provided us, and continues to provide us, will all-round excellent advice. We trust his knowledge and expertise.

    Mr Blackmore & Ms O'Sullivan Financial Services

  • Ben was particularly enthusiastic and helpful. Martin, Paula, Sam and Will are all hard workers.

    Ms Goodey Franklin Road

  • The staff were very helpful, an excellent service. I would recommend you to others.

    Miss Hockly Fiveways

  • All very professional, kept updated throughout. Very pleased - Would recommend. 

    Mrs Hammond Hove

  • Best Agents in Brighton.

    Mrs Field Tarner Road

  • Excellent communication and advice throughout. It felt very reassuring to be in good hands.

    Mrs Brooker Buller Road

  • Ben and Paula were calm and reassuring throughout a very difficult process!

    Ms Easterbrook Bear Road

  • First class service. Friendly and professional.

    Mr Thorne The Avenue

  • Sold within 2 weeks for asking price "excellent!"

    Mr Grundy Bishops Road

  • Very comprehensive and professional. Nice people to work with and highly recommended. 

    Mr Alderton Ladysmith Road

  • A completely painless experience from start to finish. Thank you.

    Mr Woolven & Mrs Bessant-Woolven Lewes Road

  • Best Estate Agents ever experienced - professional, approachable, competent and exemplary. 

    Mr & Mrs Guest Riley Road

  • Sharon, Harvey and James were all excellent - very professional. Totally opposite to what I have experienced with other agents. Maslen have restore...

    Ms Lyons Woodingdean

  • We were very pleased with services provided by the Fiveways office.

    Mr & Mrs Sawyer Shaftesbury Road

  • The team worked very hard over a long period to ensure my sale went through - excellent service!

    Mr Patrick Gladstone Terrace

  • Thanks for an excellent service. 

    Mr King Hove

  • Very professional service. Thank you!

    Miss New & Mr Jackson Buller Road

  • We cannot recommend Maslen's estate agents enough.

    Many thanks to Paul, Donna, Janette and the...

    Linda & Les Wigmore Close

  • Very impressive - professional and friendly, both Martin Timms and Paula Carter were excellent at keeping in contact with sensible advice based on...

    Mrs O'Connor Hove

  • I was new to the area and viewed a lot of properties with a lot of different agents. Maslens were by far the best I came in contact with, so when i...

    Mr & Mrs Heer Lewes Road

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