How do you sell houses fast? If you are under time constraints, you cannot afford to have your house linger on the market for months. What do you do? Let’s look at X options so you can choose the right path for your property and goals.
- Sell to a Cash House Buyer
How does it work? You research cash house buyers and find a solution that suits your need. You are looking for companies that have the financial resources necessary to complete a purchase quickly – as well as those that have proven processes to make the experience as seamless as possible for sellers. From there, it is just a matter of filling out a quick web form with basic details (e.g. postcode). Typically, the buyer will extend an offer in principle within just 24 hours. You are free to choose to accept or reject the offer, without obligation. If you accept, the buyer will instruct valuation experts to inspect the property. Upon these reports, they will make a final offer. Again, you choose whether this is suitable for you or not.
Usually, the offer is equal to as much as 85 – 85% of total market value. You do not have to pay expenses such as estate agent and solicitor fees, conveyancing costs, etc. Nor do you have to make extensive repairs and improvements in order to make your house ‘market ready.’ These buyers are willing to purchase as is, which is something that traditional mortgage buyers cannot do.
The entire process can be completed within a few weeks (or less), compared to four to six months, at the least, with a conventional sale.
- Sell at Auction
Another option that can help you sell house fast is to list it for auction. The market for properties in all sorts of conditions is fairly strong currently, and this may be a good way to unload a property that is not in ideal shape. Depending on the type of auction, you can see results in around two months (from listing to auction to completion).
There are some caveats to consider: In many cases, you will have an accelerated timeline, but it is not guaranteed. If you’re lucky, you might whip people up into a bidding frenzy. On the other hand, you may not make the minimum bid, in which case, you are out of luck. An auction can go any number of ways, and not all of them are favourable to you. Additionally, you will have to pay fees to the auction service. Be sure to enquire about these before making your decision.
- Sell It Yourself
This can be a way to sell fast – if you have buyers lined up or the planets align just perfectly. If you have a party in mind, such as a child, a parent, a family member, a neighbour, etc., a ‘For Sale By Owner’ situation can allow you to streamline the process. If not, however, your property could be sitting on the market for months. You are choosing to forgo an estate agent, which means you also do not have the benefit of their connections, and you will have to take care of the myriad details that usually fall within their purview. This includes marketing, staging and showing your house. Know what you are getting into; while it may seem attractive to keep estate agent fees in your own pocket, you could be missing out on the right buyer.
- Fix It – Fast
Need to sell house fast? Make your property as attractive as possible to potential buyers. If you have some extra cash (and time) on your hands, you can undertake necessary repairs and improvements to ensure it catches the eye of buyers (who will likely have mortgages) and meets the standards of their lenders. Be aware that this can cost tens of thousands of pounds, and you may not (likely will not) recoup your investment.
- Change Estate Agents
If you listed your house with an estate agent and are not seeing results… it could be time to switch. Before you do, look at your contract. There may be language that prevents you from parting ways with them or that guarantees them the sale. If you are free of that obligation, however, making the switch may be a good idea. Just be aware that you will be, essentially, starting over at square one.
Need to sell house fast? Which option sounds like the best path for you?