Penny-wise homebuyers who try to negotiate a private sale with a seller in the hope of knocking the price down may find to their regret they have been pound-foolish.

Selling your property privately may be dangerous. The first pitfall that usually costs buyers dearly is the so called voetstoots clause. Inexperienced buyers may overlook this finer detail and get stuck with expensive repairs they hadn't budgeted for. Sales agreements are laden with legalese terminology and loopholes to get lost in. Once the written agreement is signed, sealed and delivered a disgruntled buyer will find him or herself with little recourse in case of misunderstandings or if he's had the wool pulled over his eyes.

For more information go to The Deed Of Sale

How to shop for an agent

Don't just hire the first Estate Agent you come across. Shop around until you find a reliable professional who will take your interests to heart. Get referrals from friends and family and find an agent that is familiar with the area as he or she will already have previewed many of the homes available for sale in the community.

With its many directories listing agents, the internet is an empowering tool. You can also approach professionals from real estate related professions to ask for their opinions and a few referrals. Lastly you can call real estate offices and ask the manager to recommend an agent.

Schedule a meeting with your prospective agent to ensure that he shows a keen interest and that he has ready knowledge of the homes that are for sale in the area. It is not good enough if the agent has to "check on the computer" first as this is a sure indication that he is not actively pursuing clients and purchasers but rather sits back waiting for work to walk through the door. The Agent should ask relevant questions and it must be clear to you that he/she is able to accurately asses and address your needs.

Aim to find an Estate Agent that you identify and feel comfortable with. There are many competent agents out there but not all of them will be on the same wavelength as you. Your agent must understand what makes you tick. Don't compromise in this department!
Click here to find an agent

What to expect from a competent agent

A worthwhile should be loyal and committed, have your best interests at heart and keep you informed throughout the process. He will help you to make a realistic offer and give insight into all those mysterious contractual clauses. Your agent should also offer guidance and advice regarding financing, inspections of the property and recommending a competent attorney.