Uncertainty over Brexit and fears over a potential recession led to a subdued 2019 property market. Mortgage acceptances were down while house price growth stuttered. Even though the market has picked up in early 2020, if you want to sell a property fast, navigating the market can prove highly challenging.
Although asking price is the most common reason for a slow sale, other factors play a significant part. The quality of your solicitors and estate agents and the length of the property chain involved can prevent a quick sale. In fact, there is an element of a postcode lottery about proceedings, with some local authorities completing their checks and registrations quicker than others.
The average house price in the UK is currently at over £250,000. This is the single largest purchase that most people will ever make. Buyers are understandably cautious about agreeing to a purchase with such large numbers involved. Attempting to push a prospective buyer can put them off too, as some people will walk away from a pushy sale.
There is nothing that can be done about which local authority you rely on, or about buyer psychology, but there are some areas that you do have influence over.
Here are 3 tips that will help you to sell your house faster.
The agent is the person or company responsible for marketing your property and finding a buyer. By using a good agent, you could have thousands of prospective buyers and dozens of viewings. They also help determine the market price and can give you helpful information to help sell your house fast.
There is a huge selection of property agents available today. As well as traditional estate agents, there are online-only agents, services that enable you to sell a property without any agency involvement, and property buying services. All agents are vying to win your business, which means that they will make the same bold claims - they will get the best deal for your property, as quickly as possible, and with minimal fees. Because all agents will make similar claims, you can't simply go with the one that has the best tagline.
Speak to any family or friends that have recently sold their property. Ask them how the experience was, whether there were any holdups, and how long the process took. You might find details of reliable agents.
You will almost certainly hear horror stories of which agents to avoid.
Property buying companies buy homes for cash. There is no mortgage application to slow the process down. There are no long and complex chains of buyers. Property buying specialists can also arrange surveys and other checks quickly.
If you are looking to sell your property fast, it is possible to complete the sale and have access to the money in your bank account within 7 days.
You can read more about how we buy property for cash and how it works.
Property chains are commonplace in the real estate market. It is common for a buyer to have to sell their property to fund the purchase of your home. In turn, their buyer may need to sell their own home, and so the chain continues. If you are buying a new property at the same time as selling your existing home, delays can occur if the vendor suffers delays buying their new home.
A single broken link can slow the process down, or even bring the sale of your property to a complete halt. The longer the chain, the greater the risk of delays in your sale. There are some steps that you can take to avoid this type of delay:
Complete the sale of your house before starting the buying process on a new property. This cuts out half of the chain, eliminating some of the potential delays. However, you may need to find short-term accommodation between selling your existing home and moving into a new house.
Stay in touch with your agent, or vendor directly. This will ensure a good relationship with trust and respect (usually) coming your way.
Property Buyer is a chain-free property buying service. We have the cash waiting to buy your home. This means that we don't have to sell an existing house and there is no chain. Avoiding these delays means that we can help you sell your home faster.
The single biggest obstacle that will stop you from selling your property fast is the list price you choose.
Inflated prices will put a lot of potential buyers off even looking at your property. While we all like to think that we have the best looking house in the street, be realistic when comparing prices, and do your research.
Use Land Registry pricing and sites like Zoopla to determine how much similar properties have sold for.
Property sites that offer estimated prices consider scant few factors to arrive at that price, so don't take this price as being an accurate reflection.
You can also check local listings for properties in the same area and offering the same features. Look at private listings as well as those on property sites and in estate agents to ensure an exhaustive list.
Accurately compare your property to others on the market and those that have sold recently. The type of property you are selling, its exact location, the number of bedrooms, and any extensions or conversions you have paid for will impact your achievable price.
Try to compare prices to properties on a like-for-like basis to get an accurate assessment of your home's real value, and remember that if you want to sell your home fast, you not only need to list a competitive price but consider dropping your expectations a little.
Agents will often quote a higher price to ensure that they get the listing.
Take all costs and fees into consideration. Local and major real estate agents charge fees and you will be charged legal fees and other charges. These all take a chunk out of your profit.
Local agents tend to have lower rates than major high street branches.
A property buying company like Property Buyer will offer around 80% of the value of the property but will cover all of the third party and external fees associated with the sale. You don't have to pay to have the property decorated or even tidied up, either, because we pay according to the market value and not according to the internal condition of the house.
Property Buyer is a specialist property buying company. We have cash waiting and can complete a sale so that you have the money within 7 days.
We can arrange discreet surveys and you never need to display a sale board, so that you can keep your intended sale quiet.