Why you'd better not sell your house to the neighbors

If you want to sell a property in a good location, it's only a matter of time until the first neighbors and acquaintances appear at your door and make you their offers. "Great, the sale will be even easier than expected," you might think at first. However, few sellers realize that they may be missing out on a lot of money and may even end up in legal trouble. We explain why you should not immediately accept a neighbor's first offer.

Your neighbor lives three streets away, ten years ago he paid 300,000 euros for his similarly sized property. Now he wants to buy your house for the same price as an investment. Maybe in a few years his children can move in, too. Sounds like a great deal at first. Owners who have lived in their property for a long time and may have paid for it in deutschmarks often don't know how much their property is currently worth.

Furthermore, you do not take into account that even small differences in the location and the property itself can lead to differences in value. While your property is located in a quiet side street, your neighbor lives on a busy street and does not have underfloor heating in his property either. Add to that inflation and rising property prices. Most likely, your neighbor's property would also be worth more by now.

Most owners realize that selling to neighbors is complicated when several offers come in. No one likes to negotiate with friends and acquaintances and turn down neighbor A because neighbor B has made a better offer. Anyone who hires a professional to handle the sale relinquishes this responsibility and ensures fair conditions.

In addition, such a handshake deal between neighbors always involves risks when large sums of money are involved. If defects suddenly appear that you did not inform your neighbor about, he can hold you responsible. The same applies if important documents such as the energy certificate are missing. The nice neighbor can then quickly become a pressing plaintiff.

If you hire a professional, you minimize such legal risks. A professional broker makes a professional value assessment, obtains all documents relevant to the sale and ensures that you hand over all obligations when signing the purchase contract.

In addition, a real estate agent can get you much better offers for your property. After all, he knows exactly what you can ask for it - unlike the neighbor, who only appreciates and naturally has his own interests in mind first and foremost.

Of course, hiring a professional doesn't mean you can't still sell to your neighbor in the end, even if he doesn't make the highest bid. You simply have an expert in between who negotiates the best compromise for both parties. This way, the real estate sale is relaxed for all sides.

Want to know if your property is worth more than your neighbor is offering you for it? Contact us now. We will be happy to assist you with the sale.

Photo: Koldunova_Anna / Depositphotos.com

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