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How to sell my house quickly for a good price

Are you considering selling a property, if so please take a few minutes to read this article. There are many ways to sell your home and each method has its own advantages and disadvantages.

Whichever method you utilise when selling a home, it is important to understand the advantages and disadvantages related to each method along with the processes involved.

This article will help you understand each method and assist you in making the right choice for your situation.

What options do I have when selling a home?

 If you are considering selling your home there are a number of options available to you which generally consist of choosing either an Estate Agent, Auction or a Quick House Buyer like Sell My Home Now.

How long does a house sale take to go through?

  1. Estate Agents – Typically this process takes 6 months or longer to complete.
  2. Auction – This process usually takes up to 2 months or longer to complete.
  3. Quick House Buyer – This process can be as quick as 7 days, buy typically take around 25 days.

As seen above the quickest way to sell a property is by selling to a quick house buyer as this process is usually completed within 25 days.

How much can I sell my house for?

This will usually depend on the chosen method when selling a property, typically you can expect the achieve the following:

Estate Agents – 90% to 100% of Market Value

Auction – 85% to 100% of Market Value

Quick House Sale – 75% – 80% of Market Value

To get a good indication of the current market value of your property take a look at Zoopla on the following link: https://www.zoopla.co.uk/home-values/

This may not always be 100% correct however it can usually give you a good indication if there’s been some recent house sales in your area.

One important aspect to consider is not only the potential value achieved when selling a home but also looking at the end result. For example, when selling through an estate agent you will have to take in to account the estate agent and legal fees along with the cost of other bills when selling a property such as a mortgage and council tax. When selling through an auction there will be auction and legal fees paid regardless of whether the property sells or not. Although with a quick home buyer generally there will be no other costs to consider, so the end value achieved might be a lot closer than you realise, take a look at this example below:

Checklist

We Buy Any Home Company

Selling via Estate Agents

Potential Timetable

Within days

6 months, or longer

Advertised Price

N/A

£105,000

Market Value

£102,000

£102,000

Average agreed purchase price

£76,500

£94,500

Final agreed price after survey

£76,500

£91,500

Agents fees (assuming 2.1%)

£0

£1,922

Plus VAT 20%

£0

£384

Legal Fees

£0

£1,850

Utility Bills

£0

£1,350

Other Bills

£0

£390

Council Tax

£0

£875

Clearance costs

£0

£1,295

Gas safety certificate

£0

£150

Cosmetic repairs needed

£0

£1,350

Mortgage repayments (Estimate)

£0

£2,057

 

£76,500

£79,877

Estimated figures used.

What are the processes involved when selling a house?

Let’s take a look at the processes involved when selling through each of the potential methods available.

The Process involved when choosing a Quick House Sale Company to sell my home

Choose a Quick House Sale Company

Be careful when choosing a quick house sale company, you must choose a reputable company. Take your time to do some homework and find the right company for you, as there are many quick house buying companies that will give you a close to market value offer only to reduce it at the very last minute be very wary of any company offering over 80% of the market value.

Initial Contact / Property Details

Contact Sell My home directly, fill in the form via our website here or request a call-back by filling in the form on the contact us page.

Offer in Principle

Once we have done some due diligence on the property, we will contact you within 24 hours to give you our Offer in Principle.

Independent Valuations

If you accept our Offer in Principle, we will instruct two independent local property experts to undertake a valuation report.

Formal Offer

If you accept our Offer in Principle, we will instruct two independent local property experts to undertake a valuation report.

Survey & Contract Instruction

If you accept our Offer in Principle, we will instruct two independent local property experts to undertake a valuation report.

Survey & Contract Results

If there are no issues identified by the solicitor or the surveyor, you can choose a completion date of your choice.

Completion Date

If there are no issues identified by the solicitor or the surveyor, you can choose a completion date of your choice.

What are the Advantages & Disadvantages of selling a house to a Quick House Sale Company?

Advantages

  • No complicated house chain
  • Can be a hassle free
  • Sale less likely to fall through
  • The process is much faster
  • More security
  • No legal fees
  • No estate agent fees
  • No need to do any work to the house, sell the house as is
  • No contingencies from survey reports.
  • Avoid repossession
  • Dispose of inherited property
  • Move for age or health related reasons
  • Sell quickly as a result of divorce or relationship breakdown
  • Relocate due to a change of job or to emigrate
  • Try a different route if unable to sell through a traditional estate agent
  • get around issues making a property hard to sell, for example with a short lease or if a property has a high risk of flooding
  • No Viewings
  • No Sale boards / discrete sale

Disadvantages

  • Cash offers are less than market price
  • Money may not be real
  • Some companies reduce the price at the very last minute
  • Fee structures are not always made clear to the customer
  • Some contracts tie customers in, preventing them from selling to anyone else who might come along with a better offer.

The Process involved when selling a house with an Estate Agent.

Choose an Estate Agent

Make sure you do your homework on your local estate agents and online estate agents prior to appointing one, this will help you get the best estate agent available to help sell your home. Estate Agents may also consider multiple agents to help sell your property, however the fees for this service may be in the region of 3%.

Before choosing an estate agent make sure you understand the fees involved and whether this includes VAT or not, a good estate agent will tell you all about their process from handling the viewings, negotiating with potential buyers and how they communicate with all parties including solicitors. Ensure you understand all the terms and conditions in the contract as sometimes you may be surprised by additional fees for professional photography or a premium listing on Rightmove.

Property Valuation

The estate agent will usually give you a free valuation of your property, they will attend you home and conduct a valuation of the property. At this point in time they will usually go through give you their sales brochure and terms and conditions if you decide to instruct them to sell your home. It is often good practice to obtain a second opinion from another estate agent to ensure you are getting the best price available for your home.

Obtain an energy certificate

An energy performance certificate (EPC) is the measurement of a properties energy efficiency rating this is now a requirement when a homeowner wishes to sell their property, this could cost in the region of £60.

Hire a Solicitor

You will require a conveyancing solicitor to undertake the legal work involved with selling a property. A good solicitor is key to ensuring the sale process in completed as quickly and smoothly as possible, make sure you do your homework. These days there is no need to use a local solicitor, you can request for a quotation on the internet to ensure you are getting the best value.

Prepare you home for sale

Prior to taking photos of your house, make sure you clear any clutter away out of sight, if you stage your home correctly you may sell your home faster and achieve a slightly high price.

Key elements to consider when staging your home is, tidy up, remove any clutter, give your house a fresh paint and ensure your house smells nice. For more advice on staging a home prior to selling, please read our help and advice page.

Take photographs

Good photographs will be key when selling a home, this is your potential buyers first impression. Your estate agent will usually arrange for the photographs to be take, sometimes paying a little bit extra for the professional photographer could pay dividends.

House Viewings

House viewings can be stressful, ensure the house is clean and tidy and free of any bad smells. If you have any pets, consider if someone from your family or friends could look after them whilst the viewings are taking place. Some estate agents will manage the viewings and show the potentially buyers round the property, if you have to undertake the viewings yourself it will help if you are positive about the house and are able to answer any questions a buyer may ask.

Offer Accepted

Once the viewings have started to take place, hopefully someone will love the property enough to make you an offer. If you have chosen a good Estate Agent, this is where they can earn their fee % and obtain the best offer possible on your property. You will need to consider accepting or rejecting offers, which could be much lower than the asking price.

Survey and Contract Exchange

When you accept an offer, your Estate Agents will prepare a memorandum of sale agreement, this will confirm key terms of the sale agreement between yourself and your buyer, such as the agreed sale price. This memorandum is not a legally binding contract so both parties are free to walk away without any consequence until contract exchange.

At this stage the buyer will often instruct a survey to be conducted on the property, if there are no issues with the survey your solicitor will issue the buyers solicitor a contract.

Please be aware that if any issues are highlighted with the survey this may cause a delay in the process and could result in the terms to be re-negotiated.  Generally, these issues will always cost you money be paying for the issues to be rectified or lowering the sale price accordingly.

Complete the Sale

When the contracts have been exchanged and have been reviewed and accepted by both parties’ solicitors you are then able to agree a completion date.

It will be your responsibility to arrange for the property to be cleared and cleaned by this date, your solicitor will transfer the funds to you bank account on the day of completion at this point in time the estate agent will hand over the key to the new property owner and the property has been sold. This whole process from start to finish will usually take longer than six months.

What are the Advantages & Disadvantages when sell through an Estate Agent?

Advantages

  • Sale price agreed is closer to the market value
  • Some companies will manage the viewings
  • Good at Marketing the property
  • Experience of local market

Disadvantages

  • Usually Takes up to six months to complete the sale
  • Estate Agent Fees
  • A Third of all house sales fall through
  • Legal Fees
  • Complicated House Chains
  • House Viewings
  • Requirement to repair the property prior to sale
  • Requirement to stage the home in order to maximise the sale price
  • Survey could highlight additional repairs needed
  • Struggle to sell the property if in disrepair

The Process involved when selling a house through an Auction.

Find an Auction Company

There are many well established auctioneers to choose from, they are useful if you want to sell a property quicker than selling through an estate agent.

Arrange an appraisal of your property

Some companies offer a free appraisal of your property, the auctioneer will be able to advise you whether your property is suitable for an auction along with advising you of the potential worth, you will normally agree a reserve price at this stage.

Agree Fees / Costs

After your appraisal you will be required to sign a contract agreeing to the auctioneer costs and commission fees. These fees can typically cost up to 2.5% of the property, make sure you read through the contract, sometimes you will be required to pay the associated fees even if the property does not sell at auction.

Hire a Solicitor

You will need to arrange a solicitor for them to create the legal pack before your home can be bought through an auction.

Promoting the property

The Auction house will begin to promote your property, generally this will be done online through their website.

Auction day

Your house is ready for the auction, on the auction day hopefully people will bid on your property and it will sell at a price above the reserve price. If the property doesn’t reach the reserve price you may have to consider a different approach of selling your home.

If Property Sells

If your property is successful and you’ve achieved a price above the guide price, you will generally walk away from the auction with a % of the agreed sale price. The remaining balance will be guaranteed to follow within a months’ time.

Payment of additional Fees

If your property sells through the auction you will need to pay an additional fee to your solicitor for the conveyancing costs associated with completing the legal work with the property buyer.

Completion

Finally, after a period of around 2 months, your property has completed, and your solicitor transfers the money into your bank account.

What are the Advantages & Disadvantages when selling a house through an auction?

Advantages

  • Worth considering if your property needs work, has defective title or a short lease.
  • No complicated house chain
  • Process takes around 2 months
  • Price may exceed your expectations
  • If the reserve price is not met, you will not be forced to sell the property.
  • Once the hammer has dropped the property is sold, the buyers cannot back out.
  • The auctioneers will also market the property in their catalogue or on their website

Disadvantages

  • Finding a buyer is not guaranteed, the competitive nature of auctions can put off potential buyers.
  • Potential buyers must register their details to attend an auction, this may reduce your potential buyers
  • There is no guarantee that your property will reach its reserve price or sell at all, you may still need to pay the fees regardless of the end result.
  • Cash offers often less than market price – expect to receive around 75% of the market value
  • Expensive Fees
  • Fee structures are not always made clear to the customer

Conclusion

Now we have been through the potential methods available when selling a home its clear that each method has its own advantages depending on your situation, for example if you not in a hurry and looking to obtain the most money you can for a property then an Estate Agent is probably the way forward. If your property is unmortgageable then perhaps an Auction would be the best way forward.

However, if you’re looking for the quickest, most simplistic, stress-free method that gives you a good value when you take in to consideration that you don’t have any fees or other bills to pay then choosing to sell with a reputable quick house sale company like Sell My Home Now would be the better options.

If you would like to sign up to our newsletter please enter your email below

How to sell my house quickly for a good price

Are you considering selling a property, if so please take a few minutes to read this article. There are many ways to sell your home and each method has its own advantages and disadvantages.

Whichever method you utilise when selling a home, it is important to understand the advantages and disadvantages related to each method along with the processes involved.

This article will help you understand each method and assist you in making the right choice for your situation.

What options do I have when selling a home?

 If you are considering selling your home there are a number of options available to you which generally consist of choosing either an Estate Agent, Auction or a Quick House Buyer like Sell My Home Now.

How long does a house sale take to go through?

  1. Estate Agents – Typically this process takes 6 months or longer to complete.
  2. Auction – This process usually takes up to 2 months or longer to complete.
  3. Quick House Buyer – This process can be as quick as 7 days, buy typically take around 25 days.

As seen above the quickest way to sell a property is by selling to a quick house buyer as this process is usually completed within 25 days.

How much can I sell my house for?

This will usually depend on the chosen method when selling a property, typically you can expect the achieve the following:

Estate Agents – 90% to 100% of Market Value

Auction – 85% to 100% of Market Value

Quick House Sale – 75% – 80% of Market Value

To get a good indication of the current market value of your property take a look at Zoopla on the following link: https://www.zoopla.co.uk/home-values/

This may not always be 100% correct however it can usually give you a good indication if there’s been some recent house sales in your area.

One important aspect to consider is not only the potential value achieved when selling a home but also looking at the end result. For example, when selling through an estate agent you will have to take in to account the estate agent and legal fees along with the cost of other bills when selling a property such as a mortgage and council tax. When selling through an auction there will be auction and legal fees paid regardless of whether the property sells or not. Although with a quick home buyer generally there will be no other costs to consider, so the end value achieved might be a lot closer than you realise, take a look at this example below:

Checklist

We Buy Any Home Company

Selling via Estate Agents

Potential Timetable

Within days

6 months, or longer

Advertised Price

N/A

£105,000

Market Value

£102,000

£102,000

Average agreed purchase price

£76,500

£94,500

Final agreed price after survey

£76,500

£91,500

Agents fees (assuming 2.1%)

£0

£1,922

Plus VAT 20%

£0

£384

Legal Fees

£0

£1,850

Utility Bills

£0

£1,350

Other Bills

£0

£390

Council Tax

£0

£875

Clearance costs

£0

£1,295

Gas safety certificate

£0

£150

Cosmetic repairs needed

£0

£1,350

Mortgage repayments (Estimate)

£0

£2,057

 

£76,500

£79,877

Estimated figures used.

What are the processes involved when selling a house?

Let’s take a look at the processes involved when selling through each of the potential methods available.

The Process involved when choosing a Quick House Sale Company to sell my home

Choose a Quick House Sale Company

Be careful when choosing a quick house sale company, you must choose a reputable company. Take your time to do some homework and find the right company for you, as there are many quick house buying companies that will give you a close to market value offer only to reduce it at the very last minute be very wary of any company offering over 80% of the market value.

Initial Contact / Property Details

Contact Sell My home directly, fill in the form via our website here or request a call-back by filling in the form on the contact us page.

Offer in Principle

Once we have done some due diligence on the property, we will contact you within 24 hours to give you our Offer in Principle.

Independent Valuations

If you accept our Offer in Principle, we will instruct two independent local property experts to undertake a valuation report.

Formal Offer

If you accept our Offer in Principle, we will instruct two independent local property experts to undertake a valuation report.

Survey & Contract Instruction

If you accept our Offer in Principle, we will instruct two independent local property experts to undertake a valuation report.

Survey & Contract Results

If there are no issues identified by the solicitor or the surveyor, you can choose a completion date of your choice.

Completion Date

If there are no issues identified by the solicitor or the surveyor, you can choose a completion date of your choice.

What are the Advantages & Disadvantages of selling a house to a Quick House Sale Company?

Advantages

  • No complicated house chain
  • Can be a hassle free
  • Sale less likely to fall through
  • The process is much faster
  • More security
  • No legal fees
  • No estate agent fees
  • No need to do any work to the house, sell the house as is
  • No contingencies from survey reports.
  • Avoid repossession
  • Dispose of inherited property
  • Move for age or health related reasons
  • Sell quickly as a result of divorce or relationship breakdown
  • Relocate due to a change of job or to emigrate
  • Try a different route if unable to sell through a traditional estate agent
  • get around issues making a property hard to sell, for example with a short lease or if a property has a high risk of flooding
  • No Viewings
  • No Sale boards / discrete sale

Disadvantages

  • Cash offers are less than market price
  • Money may not be real
  • Some companies reduce the price at the very last minute
  • Fee structures are not always made clear to the customer
  • Some contracts tie customers in, preventing them from selling to anyone else who might come along with a better offer.

The Process involved when selling a house with an Estate Agent.

Choose an Estate Agent

Make sure you do your homework on your local estate agents and online estate agents prior to appointing one, this will help you get the best estate agent available to help sell your home. Estate Agents may also consider multiple agents to help sell your property, however the fees for this service may be in the region of 3%.

Before choosing an estate agent make sure you understand the fees involved and whether this includes VAT or not, a good estate agent will tell you all about their process from handling the viewings, negotiating with potential buyers and how they communicate with all parties including solicitors. Ensure you understand all the terms and conditions in the contract as sometimes you may be surprised by additional fees for professional photography or a premium listing on Rightmove.

Property Valuation

The estate agent will usually give you a free valuation of your property, they will attend you home and conduct a valuation of the property. At this point in time they will usually go through give you their sales brochure and terms and conditions if you decide to instruct them to sell your home. It is often good practice to obtain a second opinion from another estate agent to ensure you are getting the best price available for your home.

Obtain an energy certificate

An energy performance certificate (EPC) is the measurement of a properties energy efficiency rating this is now a requirement when a homeowner wishes to sell their property, this could cost in the region of £60.

Hire a Solicitor

You will require a conveyancing solicitor to undertake the legal work involved with selling a property. A good solicitor is key to ensuring the sale process in completed as quickly and smoothly as possible, make sure you do your homework. These days there is no need to use a local solicitor, you can request for a quotation on the internet to ensure you are getting the best value.

Prepare you home for sale

Prior to taking photos of your house, make sure you clear any clutter away out of sight, if you stage your home correctly you may sell your home faster and achieve a slightly high price.

Key elements to consider when staging your home is, tidy up, remove any clutter, give your house a fresh paint and ensure your house smells nice. For more advice on staging a home prior to selling, please read our help and advice page.

Take photographs

Good photographs will be key when selling a home, this is your potential buyers first impression. Your estate agent will usually arrange for the photographs to be take, sometimes paying a little bit extra for the professional photographer could pay dividends.

House Viewings

House viewings can be stressful, ensure the house is clean and tidy and free of any bad smells. If you have any pets, consider if someone from your family or friends could look after them whilst the viewings are taking place. Some estate agents will manage the viewings and show the potentially buyers round the property, if you have to undertake the viewings yourself it will help if you are positive about the house and are able to answer any questions a buyer may ask.

Offer Accepted

Once the viewings have started to take place, hopefully someone will love the property enough to make you an offer. If you have chosen a good Estate Agent, this is where they can earn their fee % and obtain the best offer possible on your property. You will need to consider accepting or rejecting offers, which could be much lower than the asking price.

Survey and Contract Exchange

When you accept an offer, your Estate Agents will prepare a memorandum of sale agreement, this will confirm key terms of the sale agreement between yourself and your buyer, such as the agreed sale price. This memorandum is not a legally binding contract so both parties are free to walk away without any consequence until contract exchange.

At this stage the buyer will often instruct a survey to be conducted on the property, if there are no issues with the survey your solicitor will issue the buyers solicitor a contract.

Please be aware that if any issues are highlighted with the survey this may cause a delay in the process and could result in the terms to be re-negotiated.  Generally, these issues will always cost you money be paying for the issues to be rectified or lowering the sale price accordingly.

Complete the Sale

When the contracts have been exchanged and have been reviewed and accepted by both parties’ solicitors you are then able to agree a completion date.

It will be your responsibility to arrange for the property to be cleared and cleaned by this date, your solicitor will transfer the funds to you bank account on the day of completion at this point in time the estate agent will hand over the key to the new property owner and the property has been sold. This whole process from start to finish will usually take longer than six months.

What are the Advantages & Disadvantages when sell through an Estate Agent?

Advantages

  • Sale price agreed is closer to the market value
  • Some companies will manage the viewings
  • Good at Marketing the property
  • Experience of local market

Disadvantages

  • Usually Takes up to six months to complete the sale
  • Estate Agent Fees
  • A Third of all house sales fall through
  • Legal Fees
  • Complicated House Chains
  • House Viewings
  • Requirement to repair the property prior to sale
  • Requirement to stage the home in order to maximise the sale price
  • Survey could highlight additional repairs needed
  • Struggle to sell the property if in disrepair

The Process involved when selling a house through an Auction.

Find an Auction Company

There are many well established auctioneers to choose from, they are useful if you want to sell a property quicker than selling through an estate agent.

Arrange an appraisal of your property

Some companies offer a free appraisal of your property, the auctioneer will be able to advise you whether your property is suitable for an auction along with advising you of the potential worth, you will normally agree a reserve price at this stage.

Agree Fees / Costs

After your appraisal you will be required to sign a contract agreeing to the auctioneer costs and commission fees. These fees can typically cost up to 2.5% of the property, make sure you read through the contract, sometimes you will be required to pay the associated fees even if the property does not sell at auction.

Hire a Solicitor

You will need to arrange a solicitor for them to create the legal pack before your home can be bought through an auction.

Promoting the property

The Auction house will begin to promote your property, generally this will be done online through their website.

Auction day

Your house is ready for the auction, on the auction day hopefully people will bid on your property and it will sell at a price above the reserve price. If the property doesn’t reach the reserve price you may have to consider a different approach of selling your home.

If Property Sells

If your property is successful and you’ve achieved a price above the guide price, you will generally walk away from the auction with a % of the agreed sale price. The remaining balance will be guaranteed to follow within a months’ time.

Payment of additional Fees

If your property sells through the auction you will need to pay an additional fee to your solicitor for the conveyancing costs associated with completing the legal work with the property buyer.

Completion

Finally, after a period of around 2 months, your property has completed, and your solicitor transfers the money into your bank account.

What are the Advantages & Disadvantages when selling a house through an auction?

Advantages

  • Worth considering if your property needs work, has defective title or a short lease.
  • No complicated house chain
  • Process takes around 2 months
  • Price may exceed your expectations
  • If the reserve price is not met, you will not be forced to sell the property.
  • Once the hammer has dropped the property is sold, the buyers cannot back out.
  • The auctioneers will also market the property in their catalogue or on their website

Disadvantages

  • Finding a buyer is not guaranteed, the competitive nature of auctions can put off potential buyers.
  • Potential buyers must register their details to attend an auction, this may reduce your potential buyers
  • There is no guarantee that your property will reach its reserve price or sell at all, you may still need to pay the fees regardless of the end result.
  • Cash offers often less than market price – expect to receive around 75% of the market value
  • Expensive Fees
  • Fee structures are not always made clear to the customer

Conclusion

Now we have been through the potential methods available when selling a home its clear that each method has its own advantages depending on your situation, for example if you not in a hurry and looking to obtain the most money you can for a property then an Estate Agent is probably the way forward. If your property is unmortgageable then perhaps an Auction would be the best way forward.

However, if you’re looking for the quickest, most simplistic, stress-free method that gives you a good value when you take in to consideration that you don’t have any fees or other bills to pay then choosing to sell with a reputable quick house sale company like Sell My Home Now would be the better options.

If you would like to sign up to our newsletter please enter your email below

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