Is there a way to sell house faster in the UK? There are only a few ways you can sell a house faster than you might with an estate agent, and they include the following:
- Auctioning Your Home
- Working with a Cash Buyer
How does each work? Take a look.
Auctioning Your Home
Auctions have been around for decades, and even today, they sell almost everything under the sun including homes. For some people who want to sell their homes faster, an auction may be the right move. In fact, there are many advantages to selling a home via an auction- there are no delays, no chains, and the entire process may only take 4-6 weeks. Before you decide this kind of home sale is perfect for you, though, it may help to better understand the process.
Initially, you’ll need to choose an auction house. From there, you should register your property at least six weeks before the auction happens. After that, check your catalogue listing, and choose a solicitor to help prepare the contract. Set your reserve price, and prepare your home for guests. Potential bidders might stop by to take a look. Then head for the auction and watch your house go up for sale.
The Benefits of An Auction
There are actually a number of benefits to auctioning your home. If there are several buyers, the price for your home may go up and the moment the auctioneer’s gavel falls, your home is sold and you are done. More than that, though, is the fact that you can sell your home in as-is condition. You don’t have to worry about making repairs. Perhaps most importantly, though, is that you know exactly what date your home will sell.
The Drawbacks of an Auction
Despite the number of benefits an auction has, it also has an entire list of drawbacks. First, it is important to understand that selling a home at an auction is considered to be a risky endeavour and should only be done by experienced investors. Moreover, though, you need to realise that you will sell your property for less than its value. Also, know the auction company fees. They can range from 200-4000 pounds- this fee (£300 + VAT). covers the cost of listing and advertising your property in the auction catalog. If the home is sold, there is usually a commission fee which will be around 2% + VAT. There’s quite a bit of work involved for you, too. Before the final print, it is your job to make sure that everything that is listed about your property in the listing catalog is correct. You’ll have to obtain a solicitor to validate and check your contract of sale. And then there are legal fees and costs to hire a solicitor- and the fees vary among solicitors so you need to shop around. On average expect to pay the solicitor anywhere between £200-£400. There’s not even a guarantee that your home will sell, and if it doesn’t, you’ll still need to pay those fees. Even if it does sell, you’ll need to move out immediately!
Working with a Cash Buyer
An auction may help sell a house faster, but the fastest way to sell a home in the UK is to work with a cash buyer like GoodMove. We pay cash for your home without the hassle. The process could begin right now. All you have to do is enter your postcode into the box on our website, fill out a short form, and we’ll send you an offer. It is literally the fastest way to sell a house in the UK. It’s faster than listing with an estate agent and faster than selling it at auction. With just a few clicks, you could have an offer in your inbox. If you love it, we’ll send out a home inspector to help finalise the offer, and within days, the cash could be sitting in your account. How’s that for a faster home sale?
If you’re ready to sell your house as quickly as possible, the time has never been better to contact us and learn more about the process.