Estate Agent FAQs for Buyers and Sellers
Estate agents sit at the centre of many property moves, but buyers and sellers often have similar questions about what agents do, who pays them and when a deal becomes legally binding.
These FAQs cover the points Allie Home clients most often ask when buying or selling property in London.
Do I need an estate agent to buy a property?
You do not legally need an estate agent to buy a property, but most listed homes are marketed through agents. An agent can arrange viewings, pass offers to the seller, answer practical questions and help keep the transaction moving once a sale is agreed.
If you want someone to search on your behalf, negotiate for you or support an overseas purchase, you may choose to use a buying agent or adviser.
Who pays the estate agent fee?
In a typical sale, the seller pays the estate agent they instruct. A buyer does not usually pay the seller's agent, although a buyer may pay their own buying agent if they have appointed one separately.
Before signing a selling agreement, check the fee, VAT, contract length, termination terms and whether any additional marketing costs apply.
How is a valuation worked out?
A valuation should consider recent comparable sales, current competition, property condition, tenure, lease length, floor level, outside space, light, transport links and buyer demand.
A high asking price can be useful only if it is credible. Overpricing can reduce early interest, while underpricing may leave value on the table.
Is an offer legally binding?
In England and Wales, an offer is not legally binding until contracts are exchanged. Either side can usually withdraw or renegotiate before exchange, although doing so can create cost and delay.
This is why proof of funds, mortgage position, chain details, solicitor details and survey plans matter when assessing an offer.
What should sellers prepare before marketing?
A valid EPC or an EPC ordered before marketing.
Proof of identity and address for anti-money laundering checks.
Leasehold information if selling a flat.
Planning, building-control and warranty documents where relevant.
Keys, access details and clear viewing arrangements.
Do I need a solicitor before making an offer?
Buyers do not need a solicitor before viewing, but having one ready can help once an offer is accepted. Sellers should also choose a solicitor early so the contract pack can be prepared quickly.
Should I get a survey?
A mortgage valuation is mainly for the lender. A survey helps the buyer understand condition and risk. It can be especially useful for older homes, period conversions, houses, leasehold flats with building issues or properties needing work.
Can Allie Home help landlords and overseas clients too?
Yes. Allie Home works with London sellers, buyers, landlords, tenants, overseas investors and property-management clients, so advice can cover both the sale or purchase and the longer-term letting or management plan.
For buying or selling advice in London, contact Allie Home at sales@alliehome.co.uk.