looking to sell a bungalow

[archer1204]

Unfornately my nan has had to go into a home and has asked me to sell her bungalow for her.We have an epa in place due to her wellbeing.We have been approached by her neighbours that they would like to buy her property.What would be the best way going about this just see who has the best offer and go with them.What agreements do i need to make with solicitor etc and what stops them pulling out at the last minute what loopholes are there.At the moment we are not looking at going down the estate agent/auction route if this is successful.Many thnx for reading this and any help would be greatly appreciated.

[Ice.Maiden]

Well you can sell a place privately. You don't have to use an estate agent, but you will need a solicitor to sort out the legalities.

[bednobs]

literally all an estate agent will do is hook the seller up with someone who wants to buy and then gets paid a big fat wodge of money for it.
Therefore if you already have someone who wants to buy, you can dispense with them completely, if your nan is happy with the price the neighbours want to pay.
What might be an idea is to get an estate agent to value the place for you which is a free service and see if it is what the potential buyers want to pay. you dont have to then put it on with the estate agents, and potentially you could reduce the price by a couple of thousand as this is what you would ordinarily have paid in fees if you sold through the estate agent.
Once you have negotiated the price with the neighbour, you proceed how you normally would do: get a solicitor. There is no more chance of the neighbours pulling out than if you used an estate agent, or if you had another buyer (in fact i would say there is less chance if the neighbours are buying it.

[danchip]

insist that a deposit is paid before you start with legal proceedings, if they pull out you wont be out of pocket ie legal expenses and may even be left with some money in your pocket for nothing