If you need to sell your property quickly there are various options you can take. The 4 main options are:

1. Sell via an estate agent

2. Sell privately

3. Sell via an auction

4. Sell to a cash buyer or specialist home buying company

Which one you chose will normally depend on how great your need is to sell and the price you need to achieve. Although estate agents are normally the best solutions when you have 6 months to wait until your property is sold they do not suit people who need to sell their properties urgently – i.e. in the next 1-8 weeks. Selling via an Estate Agent normally 4.5-7 months and then there is a 1 in 3 chance of a broken chain which means starting all over again. Even if you put your property on the market a big discount it is still likely to take you a lot longer to sell this way than via an auction house or through a home buying company (where you are likely to get a similar price).

Selling privately is often not the best solution if you need to sell property quick. In fact it is often the worst. By selling privately, I mean doing your own advertising in newspapers and online. People use this method to save on estate agents fees normally but it is normally counter productive when you have time to sell, never mind when you need to sell quick. It is unlikely enough potential buyers will see the property, particularly the ones able to buy it quickly. 

Selling via auction is a good option for those people who need a quick home sale but those selling this way need to understand that they are only likely to get up to 80% of the properties value – sometimes a lot less. Of course you can set a reserve so you don’t have to accept offers below a certain level. You also need to be aware that there a auction house fees of 2.5% normally. The advantage is that after the auction takes place the sale is normally completed in a month (if the reserve has been met). It will normally be 1-2 months after you contact the auction house that the auction will take place to allow for marketing the property and potential buyers to carry out due diligence. So in total you would be looking at 2-3 months to sell via this route. 

Selling to a specialist home buying company is a viable alternative to an auction house.  The advantages to this method is that:

1. The whole process from contacting the company to completing the sale can be done in a month or quicker.

2. There are no estate agent or auction fees

3. Legal fees of £500 are normally paid for you (which normally covers them all)

4. No Home Information Pack required

5. The sale is guaranteed once you agree on a price

6. You have more control over the price as this is negotiated directly with the buyer. If you are not happy just walk away with no money lost. 

The price you will be offered from an a specialist homebuyer is normally between 70-80% of the properties value. This is similar to what you would expect from an auction sale although you don’t have any fees and it is quicker. 

So if you need to a quick sale consider a homebuying company or an auction. If you are not in a hurry use a good estate agent. 

The slowdown of the property market and the continual need for some owners to sell their properties quickly has seen many more people use the services of specialist homebuying companies. Property buying companies are normally a group of cash funded investors who do not have to jump through the hoops of the normal property buying process. Their ability to attain quick finance and specialist solicitors mean they can purchase property within a month of first seeing it rather than the 4-6 months it normally takes. 

They can also offer services that estate agents can not such as flexible completion dates, rent back services and options to buy back. So why doesn’t everyone use them? 

Well in return for a buying peoples homes quickly they require a discount on the market value. This is often seen as the main disadvantage of using these companies and it is true that if you want to go the best price for your property you are best selling on the open market via an estate agent.  

However, the difference is prices is not as great as many estate agents would have you believe. There are many hidden costs of selling via an estate agent that do not occur when you sell to a home buying company. 

Firstly, when you sell via an estate agent you have to pay their costs which is normally between 1.5%-2.5% of the sale price. You then need to add legal costs and the cost of a Home Information Pack. You will have to pay none of these costs when selling to a home buying company as no estate agent fees will be liable, they will pay your legal fees, and no HIP is required as it is classed as a private sale. 

Other costs that are not immediately apparent is those of time and buying power. If you sell via an estate agent you could be waiting for months until the sale is completed by which time you may have missed the opportunity to buy the property you wanted. It is also worth noting that if you sell to a home buying company you will have the cash ready quickly to buy another property. This will put you in a far stronger negotiating position to buy your next property as you will not be in a chain and you have the cash ready. This can often lead to a discount on the purchase price.

A quick home sale to a property investor will also mean that you will not have to pay interest on your mortgage repayments as you have sold so quickly.  

This article looks at the options open to property owners who want to sell their homes fast. 

The majority of residential property sales (90%) are conducted via estate agents. However, this method is not right for everyone and more people are looking at alternatives as they are unhappy with their estate agent or they need a quick property sale. 

The problems with Estate Agents

The Office of Fair trading conducted a study of estate agents in response to many complaints about them. They found serious concerns over the way estate agents serve the public. The consumer group Which? has also conducted research and found evidence of serious violations of the law and a massive 50% of consumers voicing dissatisfaction over the service received from their estate agent. They said:

“Consumers entering the home-buying or selling process are substantially disadvantaged by the way estate agents currently operate”

Now, of course there are some good estate agents out there but all too often you have to pay 1.5 – 2.5% +VAT (i.e. that is £5,875 on the sale of a £200,000 house) for terrible service. 

So what it the alternative??

Well if you want the top price for your property the only real alternative is to advertise yourself or get a better estate agent. However, if you need a quick sale then a specialist home buying company is a good option to use. They can purchase your property directly from you with out the need to go through an estate agent.

Just to be clear, you should really only use a specialist property buying company if your need for a quick sale is greater than your need to sell for the best price. 

Typically you find yourself in need of house buying specialist if:

1. You are in financial difficulties

2. You are being threatened with repossession

3. You would like to sell your property & rent it back

4. Your chain has collapsed and you’re totally desperate to sell

5. You need money quickly and remortgaging is not an option

6. Bereavement or divorce means you need to move-on as quickly as possible

7. You’ve inherited property that you want to cash-in quickly

8. You’re emigrating and your property is proving difficult to sell

Home Buying companies will normally give you a cash offer for your property within 2 days and exchange contracts within a few days and 3- 4 weeks. Completion can then be fixed to suit you but the norm is completion within 3-4 weeks.

How Much Will They Buy My Property For?

Home buying companies will normally pay between 75-85% of your properties open market value. Open market value is the price the property would fetch on the open market within 3 months. This is typically less than the price estate agents advertise properties at as they expect to receive offers between below their advertised price (apart from in Scotland).  So, you will received a quick sale and a guaranteed sale if you sell via this method. 

What other benefits can these companies provide?

A good company will offer to:

1. Pay your legal fees (up to GBP 500 which normally covers them all)

2. Pay any survey and valuation fees

3. Allow you to stay in the property after selling (i.e. you rent back from them)

4. Meet their promises on price and completion date

5. Adhere to some Code of Practice from a recognized body if you rent back such as NLA Rent Back.

Beware!

Avoid companies that do not offer the services listed above. Some companies charge for valuation fees regardless whether they plan to buy your property or not. Also beware of companies that try and get their foot in the door by giving you a high offer only to reduce it at the last minute.

This report will show you the tricks and secrets you must know if you need a fast property sale of your property.

Selling property can be one of the most stressful things you will ever do. 90% of people sell through an estate agent so this must be the way to go right?

Well, it depends on time pressure you are under. When selling through an estate agent you will normally have to go through these stages:

1. You need to pay for and complete any renovation and refurbishment necessary (2-3 weeks)

2. You will need to conduct multiple viewings (4 to 8 weeks)

3. If your estate agent finds you a buyer, you will need to wait a few months for the buyer to arrange a mortgage (8 to 14 weeks)

4. If the buyer is in a chain, you will need to wait for their home to sell before yours can be purchase (2-3 weeks)

This can take between 4 to 7.5 months! This is a long time in anyone’s book! It is a also a sad fact that 1 in 3 chains break down at the last moment due. It only takes one person to pull out and the whole chain falls apart.

How to sell in less than 4 months

However, even with these obstacles in mind it is still possible to sell your home in less than 4 months by these following tips (and having luck on your side):

1. Get a reliable, reputable estate agent.

2. Finish off any necessary DIY jobs

3. Thoroughly clean and de-clutter you home

4. Depersonalise your house and go neutral

Point 1 is very important as unfortunately some estate agents are not good. As the Office of Fair Trading said:

“Consumers entering the home-buying or selling process are substantially disadvantaged by the way estate agents currently operate”

Now, in fairness there are some great estate agents out there but they seem to be hard to find. Will you be lucky enough to uncover a good agent? Are you prepared to pay 1.5 – 2.5% +VAT (i.e. the price of a new kitchen) to find out?

So what it the alternative??

One of the more popular alternatives if you need a quick home sale is using a specialist home buying company to help you. They can purchase your property directly from you with out the need to go through an estate agent. You will not have to pay solicitors fees, estate agency fees or for a Home Information Pack. These companies will not offer you the market value of your property (normally 15-25% less) but they can offer you a quick hassle free home sale. 

This article looks at the options open to property owners who want to sell their homes fast. 

The majority of residential property sales (90%) are conducted via estate agents. However, this method is not right for everyone and more people are looking at alternatives as they are unhappy with their estate agent or they need a quick property sale. 

The problems with Estate Agents

The Office of Fair trading conducted a study of estate agents in response to many complaints about them. They found serious concerns over the way estate agents serve the public. The consumer group Which? has also conducted research and found evidence of serious violations of the law and a massive 50% of consumers voicing dissatisfaction over the service received from their estate agent. They said:

“Consumers entering the home-buying or selling process are substantially disadvantaged by the way estate agents currently operate”

Now, of course there are some good estate agents out there but all too often you have to pay 1.5 – 2.5% +VAT (i.e. that is £5,875 on the sale of a £200,000 house) for terrible service. 

So what it the alternative??

Well if you want the top price for your property the only real alternative is to advertise yourself or get a better estate agent. However, if you need a quick sale then a specialist home buying company is a good option to use. They can purchase your property directly from you with out the need to go through an estate agent.

Just to be clear, you should really only use a specialist property buying company if your need for a quick sale is greater than your need to sell for the best price. 

Typically you find yourself in need of house buying specialist if:

1. You are in financial difficulties

2. You are being threatened with repossession

3. You would like to sell and rent it back

4. Your chain has collapsed and you’re totally desperate and need a quick sale

5. You need money quickly and remortgaging is not an option

6. Bereavement or divorce means you need to move-on as quickly as possible

7. You’ve inherited property that you want to cash-in quickly

8. You’re emigrating and your property is proving difficult to sell

Home Buying companies will normally give you a cash offer for your property within 2 days and exchange contracts within a few days and 3- 4 weeks. Completion can then be fixed to suit you but the norm is completion within 3-4 weeks.

How Much Will They Buy My Property For?

Home buying companies will normally pay between 75-85% of your properties open market value. Open market value is the price the property would fetch on the open market within 3 months. This is typically less than the price estate agents advertise properties at as they expect to receive offers between below their advertised price (apart from in Scotland).  So, you will received a quick sale and a guaranteed sale if you sell via this method. 

What other benefits can these companies provide?

A good company will offer to:

1. Pay your legal fees (up to GBP 500 which normally covers them all)

2. Pay any survey and valuation fees

3. Allow you to stay in the property after selling (i.e. you rent back from them)

4. Meet their promises on price and completion date

5. Adhere to some Code of Practice from a recognized body if you rent back such as NLA Rent Back.

Beware!

Avoid a sale and rent back company that do not offer the services listed above. Some companies charge for valuation fees regardless whether they plan to buy your property or not. Also beware of companies that try and get their foot in the door by giving you a high offer only to reduce it at the last minute.