Many people find themselves needing to sell a property quickly and for a variety of reasons.
People can become motivated to sell mainly through the infamous “D’s” which are:
Selling a property quickly is not rocket science, and can be achieved if you are willing to compromise.
There are four key factors which come into play in a quick property sale:
- Selling at a discounted price
- Selling to a cash buyer
- Having all your documentation in place and being pro-active throughout the sale
- Pricing realistically
If you intend to hold out to achieve the full market value for your property, then you may have to wait a very long time. According to data produced for HOA, the total time from new property listing to completion of sale is around 6 months.
If your estate agent has over-estimated the value of your house (sometimes done intentionally to get the sale instruction from you), then there is every chance that your property will linger on the market.
The longer it remains for sale, the further it slips down the search results on the portals like Rightmove and Zoopla, which are used by over 97% of people looking to buy a property.
During this time, you will have to accommodate viewings, often in the evenings and at weekends, when prospective buyers are not working. This can often be disrupting to your life as you have to keep your property clean and tidy just in case a viewing is booked in.
Holding out for market value is no guarantee that you will achieve it either, so it is something of a gamble.
Typically, if you don’t receive an offer in the first month, then it does not bode well. Newly added properties go to the top of the portals, while yours will sink down and may possibly start to look stale.
So, in order to facilitate a quick sale, you are going to have to reduce the price to make the property attractive to a wider range of buyers, especially those with cash.
Typically, a reduction of 10 to 15% will start to make your property viable to professional property buyers or traders who can act quickly because they are not in a chain.
Whilst this might understandably disappoint, you have to weigh up the value to you of disposing of the property quickly and ending your association with it.
If such issues of death, debt, divorce, and desperation are involved, then it stands to reason that you may wish to sell quickly in order to reduce your stress levels and move on.
Sell a property Quickly to a cash buyer
The second ingredient of a quick sale is to sell the property to a cash buyer such as Open property Group.
This is because cash buyers typically money in the bank and can guarantee the sale. When a lender is involved, the sales process becomes longer and more complicated, as your solicitor has to deal with the lender, request to draw down funds, wait for the funds to be released etc.
Some lenders can be very slow at doing this, and some can even down-value a property, meaning your buyer can borrow less money. This sometimes results in the sale falling through or the buyer using a down-valuation to achieve a price reduction.
With a cash buyer, there is no lender involved, no need for a valuer go around, and therefore there should be no concerns over delays caused by the finance.
Cash buyers are also not dependent on the sale of another property to release funds in order to allow them to buy yours, so a cash buyer will always be the end of any chain.
Professional property buyers are also geared up to buy a property in a short timescale, and work with solicitors who are used to undertaking conveyancing transactions, in some instances, in as little as days.
The final ingredient to a fast property sale is to make sure you have all the documentation ready, such as mortgage statement, title deeds, and, if leasehold, a copy of the lease and leasehold pack from the freeholder or their managing agent.
You will also need to respond to enquiries in a prompt manner and return paperwork as soon as possible.
Many sales drag on because the seller does not fill out the all-important documents, such as the enquiries about the property and the list of fixtures and fittings included in the sale.
How Open Property Group can buy property Quickly
In our case, we will happily buy a property “sold as seen” meaning we do not require a list of items you are leaving in the property (typically window coverings, light fittings etc).
If the property is full or furniture or rubbish, this will not deter us, meaning you don’t need to wait to clear it out before you can get it marketed for sale. We can take care of house clearances and home removals if requested too.
As genuine cash buyers with trusted conveyancing solicitors who understand how we work, we can purchase your property for cash and give you a guaranteed day that the funds will arrive in your bank account.
Our solicitor can, if necessary, provide proof of funds to confirm our cash buyer status. We actually welcome being asked to do this as we know many individuals or companies who claim to be cash buyers, aren’t. They are often introducers to a third party rather than buying the property themselves.
With us you are dealing direct with the buyer and we have cash standing by to purchase your property.
We will consider any property in England and Wales, in any condition, and with any problem such as a short lease, or tenant in situ.
If you decide to contact us for a no-obligation offer, we will provide one within 48 hours.
You can then weigh up if a quick house sale is worth more to you than hanging on for a market value sale which may never be achieved.
We offer a guaranteed sale and that has proven to be attractive to many sellers who were no doubt in a similar situation to yours.
A bird in the hand is worth more than a bird in the bush - when selling a property it is no different!
Certainty vs uncertainty.
Selling a property to Open Property Group represents certainty. Contact us today for your no-obligation offer.
Watch the video below which explains more about selling your property fast or click here to continue reading this article