Selling your property can seem a frustrating, endless, and an exhausting process from start to finish. The whole scenario can feel daunting, especially if you are wanting to sell your home quickly. As you may already know, there is no definitive answer to this question as different circumstances have dissimilar timescales. Despite this, Which? state that there are around fifteen steps that house sellers will encounter through the selling process. These stages include sorting your finances, having your property valued and receiving offers.
How Long Could It Take?
Some properties sell within the first week of entering the market, others take around six months. However, according to the Gov.UK website, on average the buying process should take from two to three months. Although, they also state that if you are within a chain of buyers and sellers, this could make the process longer.
However, there are other factors that may be dependant on how quickly you sell your property. Usually a major factor is the location of your home. Recently, research was conducted into the slowest and fastest areas around England and Wales to sell, and the average days it took to secure an offer. Both Cardiff and Coventry had an average of thirty-seven days to secure an offer, with the average house price in Cardiff recorded at £255,528 and £215,909 in Coventry. According to the research, Blackpool is the slowest-moving property market area. The average time within Blackpool to secure an offer was seventy-one days and the average house price being £122,306.
Another factor that buyers and sellers take into consideration is the current economic situation within their country. In June 2019, the national house price growth remained at 1%, this was the for the seventh consecutive month. Also, the number of mortgages approved for purchasing of houses has remained stable. However, both could the price growth and mortgages approved can change and either speed up or slow down the process of you buying or selling your property.
Steps You Need to Take to Sell
There are several steps you need to follow in order to sell your property. Firstly, if you are selling your home, you need to make sure you provide an ‘Energy Performance Certificate’ before putting your property on the market. If you decide to sell using an estate agent, as a buyer or seller, you must go through an estate agent when accepting or marking offers. When a buyer makes an offer on your property, then it is the seller’s responsibility to draw up a legal contract to transfer the ownership. Also, depending on the price of a property, as a buyer, you may have to pay stamp duty land tax.
At The Property Buying Company, we can buy your property for cash within 2-3 weeks or within a time scale that suits you. We will cover all the costs and help you through the whole process by providing you with the highest levels of support and customer service. So, why not sell your home to us? With fifty years combined experience in buying houses in England and Wales and over five-hundred bought properties over the last two years, now is the time to sell.