In this article we will take a look at the ways in which you can sell your house quickly and still achieve a good price. Here's a quick summary of what you will find:
- How long you can expect an average sale to take
- Why you should try avoid property chains if at all possible
- How to work with your estate agents and solicitors
- Selling at the right time
- How you can avoid hidden costs
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Before diving into the article, you've first got to set expectation and understand how long it on average selling your home may take through different sale methods, so you can sett realistic goals of a "quick sale". Here's a breakdown:
- Auction: Although on the day auctions seem incredibly quick, there not often that quick due to the amount of set up work involved. There's a lot of set up involved and to get your house to the auction point you're looking at about 2 months.
- Estate Agents: Roughly speaking selling with an estate agent will take about 2 months, but this varies considerably based on area & a variety of other factors.
- Online Estate Agents: It can take a bit longer to sell a property using an online estate agent, you'll have to organise viewings yourself which could potentially cause delays.
- Private Sale: It's hard to put a timeframe on this, when you sell privately it depends who you know. It also depends on how much effort you are putting into selling.
- Property Buying Companies: Cash property buying companies such as ourselves typically quote anywhere between 7-14 days to buy your home. What you need to also take into consideration is that all the above points don't include the time for solicitors, searches and more, which can add months on to the sale. The figures given by property buying companies are the timeframe for the purchase to be completely finished.
Now, lets get started. Keep reading to find out how you can get the quickest possible sale:
The Average Sale
According to the Gov.UK website, generally a house should take around 2-3 months to sell. However, due to circumstances such as a chain of buyers and sellers, this can take longer. A sale can also take longer due to other criteria for example, the location of the property. These issues can make the process of selling complicating and frustrating. However, there are ways to avoid spending months waiting for a house sale to be complete
Selling your home is a stressful process, and having a chain break can add to the pressure.
According to Which? in 2016, from a survey of 2000 home-movers, around 3 in 10 (28%) had experienced a sale fall through. If this wasn’t off putting enough, in the final quarter of 2018, 49.8% of all property sales in England and Wales were involved in a chain break.
After paying Estate Agents fees and going through the whole process, it is disheartening to find yourself back at square one. However, there are ways you can avoid a chain:
- Try sell to a buyer who will not already be part of a chain e.g. a first-time buyer
- Search for a new-build to live in, as this will mean you have one less person to wait on
- Make some calls, you may be able to renegotiate with potential buyers that you have previously turned down
- Choose an online house buying company such as The Property Buying Company. However, make sure if you decide to choose a house buyer, that they are regulated by The Property Ombudsman and the reviews given by other customers.
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Working With Estate Agents and Solicitors
Within selling your home, there are different procedures that have to be carried out. To start, you need to list your property in order to find prospective buyers. In order to list, estate agents must value your home and there is always lots of paper work involved.
For most estate agents, the steps to selling may take them a while to follow through with. Selling is a tedious process and as a seller that needs to move quickly, waiting can build to any stress you already have. However, there are ways you can speed up this process:
- EPC – to start, the first thing you must complete is any Energy Performance Certificates. These need to be completed to sell your property, it includes information on the property’s current energy use and costs. Also, it includes recommendations to reduce energy and save money.
- Research – this is pivotal to selling. Researching into current trends, sales in the area and understanding how much your home is worth, could potentially stop toing and froing between buyers and estate agents.
- Choose a house buying company – if you are needing a sale within a matter of weeks, why not choose a cash buyer? Using a service such as a house buying company would help you avoid a chain and sell your home quickly. However, make sure you research into different companies as some may have hidden costs or may not be affiliated to an ombudsman.
If you're wanting the process of working with your estate agents and solicitor to go as quickly as possible the only tip we can really give is to contact them all the time. Always be in touch with them and keep pushing things through, be a nuisance to the point they'll want to finish everything to stop you calling!
Time It Right
According to research, Spring is the best time to sell your property. However, it is understandable that if you need to sell your home, sometimes you cannot wait for the correct timing.
If you have a reasonable amount of time to sell, then try to avoid selling within the Winter period. Within winter, it has been known to increase the time scale of a sale process due to man different factors.
Listing your home online for a lengthy period of time can also determine whether your house may sell. If your home is listed for too long, potential buyers may be concerned why it hasn’t already sold.
Watch Out for Any Hidden Costs
When it comes to selling your home, many sellers do tend to overlook hidden fees that may be encountered within the process. Although, there are ways to beat these costs:
- Plan ahead – when you decide you need to sell, plan to save enough money for any hidden costs that may occur in the cycle. You don’t want to find yourself struggling to pay for these.
- Understand selling costs – there are lots of different tools on Government websites that you can use to grasp how much selling may cost you.
- Selling yourself – on average, estate agents take 0.75-3% of the final sale price. If you have time to, why not sell your home yourself to save on this cost?
- Check you aren’t being ripped off – when it comes to choosing surveyors, estate agents and solicitors, choose one that have good recommendations and don’t seem too costly.
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