April 4th 2007

I pop round to my chosen Estate Agent and give them the good news. They go through the figures with me: 1.5% + VAT and ask me to sign a form. The £375 difference between 1.25% and 1.5% was now £440 because I hadn't allowed for the VAT. The form looked like a million lines of closely-typed text but with a convenient 'X' written in pencil where I was to sign. "Well, if you can't trust an Estate Agent, who can you trust", I think to myself, as I sign.

It was basically a form saying I agreed to them being 'Sole Agent' for 3 months. Even if I found myself a buyer within that time, I'd still have to pay them their 1.5% + VAT. After the 3 months, I'd need to formally change my agreement with them. It's something to be aware of when other Estate Agents start dropping "Why not let two Estate Agents sell your home" leaflets through your letterbox. You could end up being liable to pay both of them.

I thought it wise to get quotes from three or four removals firms but they all told me the same thing: I'd contacted them a little early and to call them again in about three month's time. At least I'd made contact and now had a shortlist of three with a preferred favourite at the top of the list.

Showing viewers around

It was something I'd never done before and was something I wasn't particularly looking forward to. At least there was a reasonably steady stream of people coming to view. What I hadn't realized was that many had been on all the Agents lists for ages being very selective in what they wanted from their new home. Some just wanted to see what colour wallpaper I had, several seemed to have turned house viewing into some sort of hobby and a few were actually interested in buying.

May

One couple brought their children with them and they were genuinely interested. I waited eagerly for my Estate Agent to call the following day. It was "Good News" - the couple had made an offer which I was prepared to accept. Excellent. There was nothing to this house-selling lark. All they had to do now was put their house on the market and sell it before they were legally allowed to make me a formal offer. Not so good after all. They were actually about 40 days behind the progress (or lack of) that I'd made to date. And the properties I was keeping an eye on with a view to buy wouldn't be for sale for ever.

During this time, there was not much I could do besides keeping the house and garden tidy and keep a careful eye on the availablity of the properties I was interested in. Rightmove.co.uk confirmed the prices hadn't dropped (and, more importantly, they hadn't gone up) and a drive to the area still showed them in their respective Estate Agents' windows. Remember that caveat I mentioned? I would soon discover that websites and shop windows don't necessarily mean much.

June

The steady stream of viewers had slowed to a trickle - in fact more and more people who had made appointments weren't even bothering to show up. By now I'd become pretty adept at judging their body language except for one person who started off less than enthusiastically but gradually started taking more and more interest as we walked around the house.

My Estate Agent phoned late the following day with an offer - not enough at first but my Agent was able to get an extra £2,000 which, although it left me with a very tight budget, I though it prudent to accept.

Here, in England (but not Scotland) neither my potential buyer's offer, nor my acceptance of it, is legally binding at this stage so I could always accept a higher offer should one come along. It's an ungentlemanly practice called "gazumping" but it could just as easily happen to me. Likewise, my potential buyer could just as easily withdraw his offer. It's like a massive game of poker and, with long 'chains' of deals often being involved, it's no wonder a very high proportion of house sales in England fall through! I'd decided at the outset that I wanted to buy a property with no onward chain so that there would be just my buyer, me and my seller - no long unwieldy chain.

But, suddenly, without warning, I had no time to contemplate such things and had to switch mindsets from 'Selling Mode' to 'Buying Mode'. First thing in the morning, I'd get on the phone to the other Estate Agents and make an appointment to view the properties that I'd been keeping such a careful eye on.

Remember that caveat? This is when I began to panic......