Selling your house need not be a stressful or time-consuming experience. If you need to move quickly — be that to release some capital or to relocate — there are ways to get moving fast.
How Long Does a House Take to Sell in the UK?
There is no simple answer to this question as the time it takes to sell a property varies significantly between geographical areas and different types of property. Research by TwentyCi in 2018 found that properties in London took, on average, 2.5 times longer to sell than similar homes in Edinburgh.
Once an offer has been accepted, it takes an average of three months to complete on a property in the UK. However, if you’re in a chain, this can be as long as six months — if you’re lucky.
Suffice to say, taking the traditional route — engaging the services of an estate agent, waiting for the perfect buyer to appear and crossing your fingers for a swift, problem-free sale — will not provide an “instant” sale.
How Can I Secure an Instant House Sale?
There are plenty of ways to speed up the process of selling a house, which you can learn about in our blog. But there are fewer options if you need an instant sale.
Sell to a Cash Home Buying Company
The quickest route is to sell to a cash home buying company. It’s the only way to guarantee a sale that’s turned around in a matter of weeks.
At the House Buyer Bureau, we’ve made the process quick and simple. Take 60-seconds to complete a short form, wait for one of our friendly team to call with a cash offer, allow us to survey your home, agree to the firm offer and within as little as seven days you will receive the proceeds of the sale. There are no legal, valuation or estate agent fees to pay and we will offer a fair price for your home. This offer will be less than the market value, but you’ll have access to cash fast. You can see an example of what we pay in comparison to a traditional sale here. Looks pretty great, right?
Auction Your Property
When someone commits to buy a property at auction, exchange takes place the same day and the buyer has 28 days to complete the sale.
This isn’t as fast as using a cash house buying service and there is no guarantee of a sale, but if you get lucky, it’s certainly quicker than putting a property on the market and hoping for the best. You can set a “guide price”, which is how much you feel the property is worth, along with a “reserve price”— the minimum you’ll accept for a sale.
Part Exchange (PX) Your Property to Buy a New Home
If the reason you need an instant sale is to fund the purchase of a new-build property, part-exchange will allow you to buy your dream home without selling your current home first.
Many new build developers offer PX, whereby they accept your property as part-payment. The property developer buys your house and deducts its value from the sale price of the new house. The amount the developer is willing to pay for your house is based on two independent valuations and it may be less than the market value. However, if the home you are buying is worth at least 30 per cent more than the one you’re selling, it’s a good deal for the developer and they should offer a fair price. There are no estate agent fees to pay and the process should allow you to purchase your new home instantly.
Of course, this is only an option for those looking to make a quick sale to buy a new build.
There are other options for speeding up the sale of your property, such as reducing the asking price, agreeing to an assisted house sale or renovating the property to make it more attractive to buyers. But the above avenues offer the only chance you’ll have to sell anything like “instantly”.
The House Buyer Bureau is the UK’s favourite house buying company. We pride ourselves on delivering a transparent and fair service that is quick and straightforward to access. Why not take 60-seconds to complete our online enquiry form? Once we have your details, one of our friendly team will call with a cash offer.