How to sell your property quickly
There are many different ways to sell your property, from estate agents to auction houses and even online portals.
There are numerous reasons why people want to sell a property in the first place, ranging from needing to unlock some capital (as an alternative to secured loans), to needing to sell to downsize or upsize properties as families change in size.
The most common way to sell your property is by private treaty on the open market. When selling by private treaty, an agent will advertise your property with an asking price, and interested buyers will submit an offer for you to consider. This process can often take some time as you wait for viewings to take place and offers to come in.
When time is of the essence, other ways to sell your property will likely get quicker results. If you are looking for a speedy sale on your property, consider: selling to a cash buyer, selling your house at auction, part-exchanging and quick cash sale companies.
Cash buyers can offer a quick route to sale, and the process is often cheaper too! Cash buyers have the funds immediately available to buy your property.
Therefore, when selling to a cash buyer, you don't need to wait for mortgages to come through, and you won't get stuck in a chain. You also don't need to wait for an estate agent to advertise your property, viewings to take place and offers to come through.
Selling your property to a cash buyer
A cash buyer is an individual or a company that purchases your property directly from you using readily available funds. A large part of an estate agent's job is to market your home and arrange viewings to find a buyer.
Therefore, if a friend or relative is buying your home or somebody has already expressed an interest in your property, it may not be necessary to involve an estate agent. Selling to a cash house buyer is not only quicker but often cheaper because there are fewer fees to pay for the sale when you don't use an estate agent.
Auctions have become a popular way to sell your property fast, particularly for second homes or inherited properties. Anyone can choose to sell their home at a property auction. The speedy process takes an average of 10 weeks - significantly shorter than dealing with a high street agent.
Selling your house at auction
Auctions are typically seen as an opportunity to sell fast rather than make a lot of money. At auction, your property is sold through the bidding process. Once the hammer sounds, the buyer with the highest offer is committed to purchasing and cannot pull out.
The buyer then has 28 days to pay the outstanding balance and 'complete' the transaction. Property auctions aren't confined to specialist auction houses; you can also auction your home online. Although auctioning your property is quick, they often sell below the true market value. Remember, there is never a guarantee that your home will sell at all!
Part-exchanging is a method to sell your property quickly and avoid getting stuck in a chain. When you part-exchange your property, you are buying and selling to the same company, making the process altogether smoother and speedier. This can also remove a lot of the worry about finding a buyer for your home. Other benefits of part-exchanging include no selling agent fees and a more straightforward legal process as both transactions are between the same people.
Selling your property through part-exchange
Some building developers may offer to part-exchange your home; you sell your property to the developer and buy one of theirs in return. The developer will arrange for independent valuations and make an offer that they can show is fair.
Quick cash sale companies
A growing number of quick cash sale companies will offer to buy a property from you, often for cash and exceptionally quickly. Although these companies buy property for below market value, they do provide a speedy sale. Such companies are often found online by searching for things like ‘sell house fast’ and ‘sell property for cash. ’This can be the quickest option to sell your property if you are in a compromised position.
Selling your house to a quick cash sale company
When selling your property to a quick cash company, make sure you understand your property's actual value before agreeing to the sale. Moreover, some quick sale companies have additional fees, and you should consult a solicitor to review all paperwork.
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