Tesco has teamed up with estate agent Spicer Haart to launch a new property website that offers consumers the chance to sell their own homes for a flat fee of £999.
The website, iSold.com, is due to launch in the Bristol area but could be rolled out nationwide if its trial period proves successful.
Typically, estate agents charge customers commission of between 1% and 2% of their property’s final sale price – fees that can reach many thousands of pounds. Therefore, iSold.com claims that consumers who choose to sell their homes using its online service could make substantial savings.
Selling your own home
‘Selling your own home could certainly save you money – and the higher your property’s value, the more cash you stand to keep in your pocket,’ says Which? Money editor James Daley.
‘It’s also nice to see a site like this launching now, in light of the Office of Fair Trading’s recent pledge to encourage more innovation and competition in the home buying and selling market.
‘However, it’s important to think carefully before you undertake to sell your own home. For example, it’s crucial to consider that you comply with the law when supplying images and descriptions of your property to prospective buyers.’
For more information on selling your own home, check out the Which? How to sell your own property advice guide. It contains information on the pros and cons of ‘doing it yourself’ plus 10 top tips for selling your own home successfully.
Meanwhile, if you’re in need of a new mortgage deal make sure you consult the Which? mortgage finder. It compares the total cost of home loans, rather than just the headline rate charged by lenders – so you can be sure you get an accurate comparison of the total cost of each mortgage.
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