Selling privately without an agreement with a real estate agent can save you money on commission, but the real estate transaction is complicated, so you need to know what you’re doing and understand the risks.
Summary of important things to know
You should disclose any information you are aware of that may be relevant to the buyer, including issues. Otherwise you could find yourself in court. You do not need to advertise the information, but potential buyers who have indicated an interest in making an offer may need to be told.
Get a lawyer or conveyancer to draw up the sale and purchase agreement.
Once you have signed a sale and purchase agreement, you need your lawyer or conveyancer to hold the buyer’s deposit in their trust account.
If you sell your property privately and you also have the property listed for sale with a real estate agency, you may need to pay commission depending on the terms of the agency agreement.