To get a clear idea of how to sell a property quickly, it helps to understand the property market in the U.K. and some of the nuances associated with it.
Like most other market places, there are three areas where sales take place and some of these areas move at a faster pace than others.
These are generally properties put on the market by owner/occupiers looking to upsize or downsize and/or achieve the highest possible price.
It involves instructing an estate agent, who will charge between 1% and 3% of the sales price in commission.
Agents will market your property to other owner/occupiers who are very often in a chain. These types of buyers also tend to buy with mortgage finance.
That is why a retail property sale can take up to 3 months to complete.
In this space, there is also greater chance of a sale falling over. Recent statistics reveal that one in four property sales in the U.K. fail before completion. See our recent blog on this topic >>> here.
It is worth noting that people who wish to be able to offer on your property, must be "proceedable", meaning that they have an offer accepted on their own property, and they also have finances in place - either a deposit and approval for mortgage finance, or cash in the bank.
As the name suggests, this is the space where property investors, traders, and professionals operate.
These buyers generally buy in cash, and can therefore act quickly.
However, these buyers, because they are not in a chain will be looking to achieve a discount off the "retail" price.
In the trade space, property transactions can be completed in as little as one week.
There are no estate agents involved, no viewings, and it does not matter to most traders what state the property is in or if there is a tenant in situ.
Landlords looking to sell a tenanted property often choose the trade route to sell, as they do not have to experience a void during the sales process and the tenant can be taken over by the trade buyer.
This is really a sub-space of the trade channel.
Selling a property at auction can mean a guaranteed sale, if the reserve price is met. Once the hammer falls, the property is regarded as "sold" and the buyer usually has to complete within 28 days.
However, it costs between £400 to £600 to have a property valued and added to an auction catalogue, with no guarantee that the property will sell.
As anyone will tell you, it all depends on who is in the room on the day.
Auctions are rather hit and miss in this regard and the upfront fees are off-putting for people who are not used to the process.
So from the above, you can probably realise that selling to a property trader for cash if your best option if you require a quick sale.
This is the space that Open Property Group and our family have operated in for 30 years.
We consider any type of property in England and Wales - tenanted, sitting tenants, derelict properties, short leases, unmortgageable properties, probate sales etc.
Jason Harris-Cohen of Open Property Group comments:
"Many sellers find themselves in a situation where a cash sale is their best option. They may have deadlines to meet, have a chain broken down and risk losing their onward purchase, or they may simply want cash in the bank on a guaranteed date with no hassle of viewings and time-wasters.
Selling and buying a property was recently found to be one of the most stressful of life's experiences. Research by Which? Mortgage Advisors found the stress of selling a house came above the levels experienced when losing a job, becoming a parent or planning a wedding!
Dealing with solicitors and paperwork for weeks on end, fears the deal could collapse at any moment and constantly chasing estate agents for updates was also ranked as more traumatic than arranging care for an elderly relative.
We understand this at OPG and our service has been designed to minimise the stress and hassle. There are no estate agent fees, no viewings, and we will even pay your legal fees.
On some occasions, only a quick property sale will do, and when that occurs, we are standing by to assist".
Please get in touch for your free, no obligation offer to sell your property painlessly for cash!
You can also view some case studies >>> here.
Open Property Group have a mission to raise standards and improve customer experience.
Give us a call on 0800 990 3939 to receive a no-nonsense cash offer for your property or send us an email at email@example.com
Watch the video below which explains more about selling your property fast or click here to continue reading this article