As 2022 draws to a close the UK property market is starting to show a downturn. The cost of property has increased dramatically since 2020, but now, with a country in a deep recession – there are fewer buyers for property around now.
This however does not mean that it is not possible to sell. Any savvy homeowner knows that selling quickly generally depends on the price that you market your home for. However, the question is how much you should reduce, and what is the best possible option when you need a fast sale.
In this article, we will look at the 3 most popular options for selling houses fast, and then show you a great tool that we have found that could save you thousands when it comes to quick home sales.
So, without further ado, let’s get started!
Selling your property with an estate agent in the United Kingdom
According to recent data, estate agents are taking on average 6 months to sell properties in the United Kingdom. This does not consider buyers pulling out, mortgages failing (which is happening a lot now) or chains breaking.
If you need a fast sale, then an estate agent may not be the best possible route to selling now.
Selling your property at auction in the United Kingdom
Another popular option for homeowners who need to sell fast is to use a property auction. Auctions can be a great way to sell, however, they are never guaranteed. They also often come with large fees which are payable by the seller.
The average property will sell at auction within 3 months. However, sellers must be aware that they will still need to conduct viewings just like a regular sale with an estate agent.
Selling your property with a cash property company
The quickest and only guaranteed way of selling your home is to a cash-buying company. These companies specifically exist to buy properties fast for cash.
You get a guaranteed sale; you get the cash in your bank as and when you need it and you also get complete privacy with your home sale.
The downside to selling for cash is that you must reduce your asking price typically by 15 to 20%. Having said that, if you really do need to sell fast this could be a good option for you.
Cash buying companies, The Property Ombudsman and staying safe online
If you're selling your property with a cash property company, The Property Ombudsman can provide you with important information and support. As a homeowner, you have certain rights and responsibilities when it comes to the sale of your property. The Property Ombudsman exists to help protect those rights and to provide a fair and impartial resolution service if something goes wrong during the sale.
If you have any concerns or complaints about the service you've received from your cash property company, The Property Ombudsman can investigate these for you. They will also be able to provide you with independent advice and guidance on your options.
The Property Ombudsman is a totally free service and can be contacted at any time during the process of selling your home. So, if you're not happy with how things are going, don't hesitate to get in touch and see how they can help
Cash property buying company comparison tool
It can be difficult to know which cash-buying company is the best fit for you. That's where this quick sale comparison tool can come in useful. Not only do this company Ready Steady Sell offer a wealth of information on quick sale companies, but they have also gathered data from a variety of sources to help you make an informed decision and get the best possible cash price for your property.
To use the tool, simply enter your postcode. You'll then see a list of companies that buy houses for cash in your area, along with their average purchase price and estimated timeframes. We hope you find this tool useful! If you have any questions or feedback, please don't hesitate to contact us.
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