Are you thinking of selling your home, and would you like to save some money on the estate agent’s fee? Then perhaps you should consider selling privately. However, there are several things to weigh up before you make the final decision. Things to bear in mind include: selling a home is a complicated process, the marketing may fall short, and a home sale can take a long time. It is a time-consuming project that also requires a fair amount of knowledge.
Starting the sales process
The first thing to do when you start selling your home privately is to set a price. The right price is crucial for a good, quick sale. You can get an idea of the price by comparing your home with similar homes and seeing what they sold for. Websites such as Boligsiden and Boliga give a good overview of house prices. There are also a number of valuation models, such as Mit Hjem and Geomatic, that can help estimate the value of your home.
The documents you need
If you choose to sell your home without the help of an estate agent, you are responsible for obtaining the documents required for a property sale. Below is a list of the documents you will need.
- BBR owner’s notice (from the Danish building register)
- Official property valuation
- Energy label
- Condition report (plus insulation certificates and documentation of improvements carried out)
- Electrical installation report
- Obtaining quotes for change-of-ownership insurance
- Land register certificate
- Information from the municipality
- Financial documents (property tax bill, mortgage deeds, annual tax statement, loan details, utility costs)
- Details of outstanding debt
- Soil contamination certificate
- Cadastral map
What is the home inspection scheme?
The home inspection scheme (huseftersynsordningen) covers the preparation of a condition report and an electrical installation report, as well as obtaining change-of-ownership insurance. Under the scheme, it is important to remember that the condition report must not be more than 6 months old. It can therefore pay to have it prepared once a potential buyer has been found. The electrical installation report, however, is valid for 12 months. This means you may end up having to obtain and pay for these reports several times during a sale.
How can you market your home?
When you sell privately, you are also responsible for marketing the home. Marketing covers everything from photos and the text for the listing to placing the listing, answering enquiries from potential buyers and showing the home. You can place free listings in a few places, or you can try advertising on social media. In most cases, though, you are better off placing listings where it costs a little extra. The photos and text for the listing can be done yourself or professionally, to make sure the home looks its best. It is important to be honest about the condition of the home, as you are bound by the seller’s duty of disclosure (loyal oplysningspligt).
Consider a property lawyer
A property lawyer is also recommended, especially if it is your first time selling a home. Hiring a property lawyer is an advantage, as it gives you legal certainty that the sale goes as smoothly as possible. The property lawyer can, for example, help with the legal and financial aspects of the purchase agreement.
Showing the home yourself
When it is time for viewings, you actually have a huge advantage, even if you may not know the estate agent’s sales tricks. The advantage is that you are selling your own home. By selling it yourself, you can tell unique stories about the home and its surroundings and let the buyer dream of a life in your home. After all, nobody knows the home better than you do.
Once the home is sold
Once a buyer has been found and the deal has gone through, the deed must be drawn up and registered (tinglysning) so that the new owners obtain title to the home. The deed must include details such as the buyer’s and seller’s personal information, the address, the purchase price and the handover date. It is also important to have a settlement statement (refusionsopgørelse) prepared, showing how the home’s running costs are split between seller and buyer. The sale is only complete once all outstanding amounts between the two parties have been paid.
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