The dream for every homeowner selling their property is to achieve a quick, hassle-free sale without compromising on price. Is this possible? Can the dream become a reality?
Many of our clients ask us “can I sell my house fast for market value?”
It’s a tricky question. The property market constantly fluctuates and what your house was worth last month may not be an achievable sale price a few months down the line. There are several factors that affect a property’s value and if you have other priorities — such as needing a quick sale — it may be necessary to accept a slightly below market value offer to meet your particular needs.
Selling to a reputable house buying service is a great choice if you want to tick both boxes: speed and a fair price. While a cash buyer will offer below the market value for a property, the savings you’ll make on estate agent fees and other costs associated with selling on the open market make it a savvy choice for many people.
What Factors Will Affect the Market Value of My Home?
- The Current Property Market:
Market health is one of the most influential factors on how much a property is valued at. It’s essentially a case of supply and demand. If there are lots of buyers chasing a limited number of properties, the value of your home is likely to go up. Conversely, if there are lots of houses for sale and few buyers — perhaps due to economic uncertainty or crises such as the Coronavirus pandemic — house values may fall.
Generally, the North of England has lower house prices and Southern areas are more expensive to buy in. For example, properties in London will attract a higher valuation than those in Burnley. The location of a property also affects its price at a more local level. If your home is in an area with excellent transport links, outstanding schools, green spaces and plenty of amenities, it is likely to have a higher value than one in a location that does not offer such benefits.
- Condition of the Property:
If a survey highlights major issues with the condition of a property that would be expensive to repair — such as the need to rewire or re-roof the house — its value will drop. Buyers will expect to pay less to purchase the home so that they can afford to complete the work needed.
- Flood Risk:
If your home is located in a high flood risk area or if there has been severe flooding in the past three years, its market value will be negatively affected
- Number of Bedrooms:
Generally, houses with more bedrooms will attract a higher sale price. Losing a bedroom to accommodate a different use of the space — such as a home office or additional reception room — may result in lower property valuation.
- Potential to Add Value:
If there are ways that a buyer could increase the value of the property — by building a studio in a large garden or converting a generous attic into a bedroom, for example — this may increase how much you can expect for your home.
- Off-Street Parking:
An increasing number of households have more than one car, so off-street parking is a huge bonus. Likewise, for families with young children or elderly relatives, a drive or parking spaces near to the home will be a “must-have” feature.
As our lives become increasingly busy, a property that has “move straight in” appeal is extremely attractive to many buyers. If your home is exceptionally well presented, inside and out — don’t underestimate the importance of “curb appeal” — you can expect this to be reflected in the valuation.
There are numerous factors that will affect the market value of your home and, on the open market, the factors listed above will also impact how long it takes to sell your house.
House Buyer Bureau buys properties in any condition or location throughout the UK. We always instruct a minimum of two estate agents and one RICS Chartered Surveyor from your local area to give you a fair and accurate valuation, which is completely free of charge. Call us free on 0800 028 2800 to find out more.
How Quickly Can I Sell My Home at Market Value?
According to The Advisory’s “Time to Sell” benchmark study in 2019, the average time it takes to sell a house on the open market, from the first day of marketing to legal completion, is 4.2 months. This will vary depending on the region and the type of property, along with the factors listed above. Some properties can take years to sell.
If you need to move quickly or just want to avoid the hassle and stress of a lengthy house sale, using a house buying service is the best way to secure a quick, guaranteed sale. House Buyer Bureau can offer completion in as little as seven days and our lawyer can confirm that we have done so many times. We understand that many homeowners have conflicting demands on their time and resources when they sell their property, which is why we put you in control at every step of the process. We can agree on dates that fit around your plans.
If you’re wondering whether it is possible to sell your house fast for market value, contact us to find out how we can help. Our team of experts will be able to quickly assess your needs and make a free cash offer for your property.