< Locations < Dublin Real Estate Guide

Introduction

Selling a house is a big choice for any the owner, and in a market as lively and varied as Dublin’s, it’s important to know all of your options. In the past, people who wanted to sell their house would put it with a real estate agent. The agent would then market the house, hold viewings, and help with negotiations. This traditional route has been taken a lot of times for a good reason: it gives you a level of knowledge and market visibility that many people find invaluable.

But real estate is always changing, and as new tools come out and the market changes, more people are turning to other ways to sell their homes. These options can give Dublin homeowners more freedom, possibly less money, and at times a faster way to sell their home than the old ways.

The goal of this guide is to look into these different ways to sell, going into detail about the pros and cons of each. Whether you’re thinking about selling at auction, using online platforms, or looking into owner funding, this article aims to give you a full picture so that Dublin homeowners can make choices that are best for them and their needs.

In the parts that follow, we’ll go over these non-traditional routes in more depth, explaining how each one works, what their pros and cons might be, and what factors are important for the Dublin real estate market. When homeowners know about these options, they can feel free to pick the one that works best for them, whether they value speed, cost, ease, or having control over their sale.

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This guide has been put together by the home selling professionals a Central City Solutions.

Published: December 5, 2023

1. Selling via Auction

In Dublin, selling a home at auction is a unique and often quick way to do it. This process involves placing the real estate up for sale in a public place, like an actual store or an online auction site. The seller sets an initial price, which is the least amount of money they’ll take for the item. When bids go over this limit, the top bidder wins and the sale is legally binding.

Good Things About Auctions

Speed: One of the best things about bids is how quickly they work. It usually takes 28 days from the start of the auction to finish the sale.
When the hammer falls, the deal is legally binding, which gives the buyer an amount of certainty that isn’t always present in other types of sales.
Competitive Bidding: Because auctions are competitive, the price may go up more than imagined, especially if the item is rare or in high demand.

Not so good things about auctions

Prices: Auctions may cost more because the auctioneer’s fees are usually higher than real estate agent fees.
Unpredictability: There’s a chance that bids will be high, but there’s also a chance that the reserve price won’t be met, leaving the property empty.
Fewer Potential Buyers: Investors and cash buyers often attend auctions, which can reduce the number of people who can actually buy something.

How to Sell Things at an Irish Auction Successfully

Pick the Right Auctioneer: Think about what you want and pick an auctioneer with a good track record in Dublin’s real estate market.
Effective Marketing: Make sure the auctioneer has a strong marketing plan to get a lot of people to buy.
Realistic Reserve Price: Set a reasonable reserve price to get people interested and make sure you get a good sale price.
Know what the law says: Familiarize yourself with the legalities of selling at auction, such as the need to give possible buyers a full legal pack.

Selling via Auction

2. Online Property Platforms

Over the past few years, the rise of internet-based property sites has changed the way people in Dublin can sell their homes. In a number of ways, these platforms are very different from standard real estate agents. Most of the time, they use the internet to list and sell homes for less money than standard real estate agents. Not only does this digital method reach more potential buyers, it also gives the seller more power and freedom. People in Dublin like to use sites like Daft.ie and MyHome.ie, which offer a range of services, from simple listings to more complete packages with professional photos, layouts, and even virtual walks.

One great thing about using online sites is that they save you money. A lot of these platforms have lower costs than standard real estate agencies, which lets them offer better prices. This can save buyers a lot of money, especially in a market like Dublin where homes are very expensive. Along with that, many people like how easy it is to handle the sale process online, especially in a busy city. It only takes a few clicks for sellers to keep track of the sale’s progress, answer questions, and make any necessary changes to their ads.

It is important to keep in mind, though, that while platforms on the internet can give you more power, the seller usually has to do more with them. For example, the seller usually sets up showings and negotiates with possible buyers, which can be scary for people who aren’t familiar with the process. On top of that, internet platforms can reach a lot of people, but some properties might benefit from the personalized service that a local real estate agent can provide.

In conclusion, online property sites are a modern, flexible, and often cheaper way to sell a house in Dublin. People who are tech-savvy and don’t mind being more involved in the selling process are the ones they target. As with any way to sell, people who are thinking about this should know what they need and what they can do.

Online Property Platforms

3. Direct Selling to Property Investors

Dublin homeowners who want to sell their homes without going through an estate agent can take a unique route: they can sell directly to real estate buyers. In this method, the property is sold directly to an owner, instead of going through the normal open market. People who want to make a quick and easy sale will like this method the most.

Getting the Process Right

When a homeowner wants to sell directly to an investor, they usually start by getting in touch with prospective buyers or investment companies that buy homes outright. These owners are usually very interested in homes that they can fix up, rent out, or sell again for a profit. Once a buyer is interested, they generally make an offer after figuring out how much the property is worth. The sale can go much more quickly than a normal sale if the seller agrees. Often, the deal can close in just a few weeks.

Why direct selling is better

Speed: One of the best things about selling to an investor is how quickly the deal can be made. Investors usually have enough money to buy the house directly, so they don’t have to wait for a mortgage to be approved.
Convenience: This way can be simpler because there aren’t as many viewings, marketing, and chains.
Certainty: Investors’ offers are usually final, giving the homeowner peace of mind that the house will be sold, which is especially helpful if they need to move quickly or get money quickly.

Bad things about direct selling

Lower Sale Price: Investors want to make money, so deals are often less than what the property is worth on the market. Homeowners need to think about whether the speed and ease are worth getting less money for their home.
Finding Reliable Investors: It’s very important to work with investors you can trust who have a lot of experience. People who own homes should do a lot of study or ask for advice to avoid scams and bad deals.
Fewer buyers on the market: People who sell straight to investors might miss out on a higher offer that would have come through on the open market. 

Direct Selling to Property Investors

4. Lease Options

In the Dublin real estate market, lease choices are a unique and flexible way to sell a home. As part of this method, the seller agrees to rent the house to a buyer for a certain amount of time. During that time, the buyer has the choice to buy the property.

How options for lease work

In a lease choice, the prospective purchaser pays the vendor an option fee so that they can buy the real estate at a later date, usually within a certain amount of time, like three to five years. The buyer pays rent during this time, and some of it may be applied toward the price of the house if they choose to purchase it. At the beginning of the lease, the terms, such as the sell price, are agreed upon.

Pros of Choosing to Lease

Flexibility for both buyers and sellers: This method gives buyers and sellers flexibility, especially purchasers who require time to improve their credit or save for a down payment or sellers who aren’t in a hurry to sell their home.

Possible Higher Sale Price: Sellers may try to get a higher sale price because they think the property’s value will go up during the lease time.

Continuous Stream of Income: During the lease time, the seller gets regular rental income.

Complexity and Legal Considerations: Leasing options are more complicated than a simple sale, and they need to be carefully set up legally to protect both sides’ interests.

If the buyer changes their mind and doesn’t want to buy, the seller has to start the selling process over, which could mean the item sells for less than it was worth in the first place.

Upkeep of the Property: Who is responsible for upkeep of the property during the lease time can be a point of contention and needs to be made clear.

Lease Options

5. House Swapping

People in Dublin are slowly starting to use house swapping as a new and unusual way to sell a home. In this method, two people agree to trade properties, either forever or for a set amount of time.

How to Understand House Swapping

People who want to trade houses usually start by posting ads for their homes on sites or platforms that make house swaps possible. When two people find a possible match, they talk about their properties, the rules of the swap, and do any other necessary research. People who want to find a home in a certain area or renters who want to move up or down in size without going through the normal selling and buying process will like this method the most.

The good things about house swapping

Cost-Effectiveness: If you swap houses, you can save a lot of money on costs like agent fees and stamp tax that come with selling and buying a house.
Choice of Location and Type of Property: Homeowners can move to a new area or a different type of real estate without having to go through the normal buying process.
Speed and Ease: If both parties are enthusiastic and agreeable, the process can be easier and faster than selling and getting separately.

Bad Things About Swapping Houses

Fewer Options: It can be hard to find a good swap because there aren’t many people willing and able to swap in the area and type of property you want.
Matching values can be hard because: It can be hard to get the values of two homes to be equal, which could lead to more financial settlements.
Legal and Financial Effects: House swapping has a lot of complicated legal and financial effects that need to be carefully thought out by a lawyer to make sure everything is done properly.

House Swapping

6. Utilizing Real Estate Technology (PropTech)

PropTech, or property technology, is becoming a game-changer in Dublin’s real estate market, which is always changing. This new field blends property management with cutting-edge technology to give people new ways to buy, sell, control, and connect with homes.

A Quick Look at PropTech

PropTech is the use of platform economics and information technology in real estate markets. It includes many different types of electronic devices and platforms, such as smart home technologies, virtual reality (VR) tours, and AI-powered models for figuring out how much a house is worth. These technologies are meant to make the process of selling and buying a home easier and better for both sellers and buyers.

PropTech’s Pros and Cons for Selling Homes

Efficiency and Convenience: Many parts of the selling process can be automated on digital platforms, which makes them more efficient and easy to use.
Better marketing: VR tours and excellent digital photos make showing off homes more immersive and involved, which could bring in more buyers.
Based on data Insights: Machine learning and analytics give sellers more information about how the market is changing, which helps them make smart choices about time and price.

Some examples of new PropTech ideas in Dublin

Virtual reality (VR) property tours let people who might want to buy a home look at them from afar in a detailed and involved way.
Online Valuation Tools use formulas to quickly and accurately figure out how much a property is worth.
Implementing blockchain technology in real estate deals will make them safer and more open.

PropTech for Real Estate: What’s Next?

PropTech in Dublin has a bright future ahead of it, with new ideas coming up all the time to make transactions easier, property handling better, and customer experiences better. It is believed that technologies like AI and blockchain will become more common. These technologies will make real estate transactions faster and safer. 

Utilizing Real Estate Technology (PropTech)

7. Owner Financing

Loans from the owner

Owner financing, which is also called “seller financing,” is a creative way to sell a house in Dublin that is becoming more and more common. When a buyer uses this alternative financing option, the seller acts as the lender and the buyer makes payments straight to the seller over time instead of getting a traditional mortgage from a bank.

The Process of Owner Financing

In owner financing, the seller legally owns the property until the buyer makes all the payments that were agreed upon. The buyer and seller agree on the loan quantity, rate of interest, repayment plan, and what will happen if the buyer doesn’t pay back the loan. A promissory note and a mortgage or deed of trust are generally part of this agreement. The note secures the mortgage or deed of trust.

Pros of Financing by Owner

Attracting More Buyers: Buyers who might not be able to get a mortgage from a regular bank may be interested in owner financing. This increases the number of people who could be buyers.

Possible Better Terms: Sellers could get a higher sale price or a better loan rate, which could make the deal more lucrative than a normal sale.

Streamlined Sale Process: The process can go more quickly and with less red tape than when a regular mortgage is involved.

Bad Things About Owner Financing

Risk of Buyer Not Paying: If the buyer doesn’t pay, the seller may have to collect on the house to get it back, which can take a long time and cost a lot of money.

Delayed Full Payment: The seller doesn’t get paid all at once, which could be a problem if they need cash right away.

Complex Legal and Financial Considerations: Owner financing strategies need to be carefully set up legally to protect both parties’ interests and make sure they follow financial rules.

Owner Financing

8. Creative Marketing Strategies

In Dublin’s competitive real estate market, creative marketing can make a home much more visible and appealing, which can help it stand out. These new ideas go beyond the usual ways of selling homes and offer creative ways to get the attention of people who might want to buy.

Marketing methods that aren’t the norm

Social media campaigns use sites like Twitter, Instagram, and Facebook to reach a lot of people. Creative material, like high-quality photos, interesting videos, and 360-degree tours can get a lot of attention.

Professionally arranging a home or using online staging software to fill empty rooms with digital furniture can make a property look better in photos and during showings.

Stories and Emotional Appeal: Creating a story about the property that focuses on its past, distinctive characteristics, or the way of life it offers can make potential buyers feel connected to it.

Targeted advertising means using online tools to reach specific groups of people, like families, young workers, or retirees, based on the property’s features and location.

Hosting Unique Open Houses: Instead of regular showings, you can make the property stand out and get more people to see it by holding themed open houses or events.

Useful Examples or Case Studies

A homeowner in Dublin used Instagram to show how they were renovating their home. A buyer who watched the story fell in love with the house.
Virtual staging was used by a seller to show what an empty property could look like, which helped them sell it for more money.

Creative Marketing Strategies

Conclusion

In Dublin, the real estate market is rich and different, giving people who want to sell their homes a lot of options. There are times when standard ways of selling are best, but the other options we’ll look at in this guide offer a wide range of choices that can fit a variety of needs and situations.

Each different way to sell has its own pros and cons. For example, auction sales are quick and sure, while PropTech uses new technologies and creative methods to help people buy and sell homes. When you sell directly to investors, you can close quickly. Leasing choices and owner financing give you more options and creative ways to pay for things. House swapping is an unusual but possible rewarding way to get around, and creative ways to sell a home can help it stand out in a crowded market.

When deciding how to sell their home, homeowners should carefully think about their personal situation, their financial goals, and the unique features of their home. Each option calls for a different amount of work, a willingness to take risks, and sometimes, a leap of faith into roads that haven’t been traveled before.

The main purpose of this guide is to give people the information and knowledge they need about these different options so they can make smart choices that will help them reach their goals. In Dublin’s fast-paced real estate market, knowing about and understanding these options can help you not only make a sale but also have a more personalized and rewarding real estate experience. 

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