Selling a house is often complicated and time-consuming.
So it’s no wonder many people look for ways to sell their house faster.
However, sometimes fast isn’t enough. Some buyers want to sell their house urgently.
Let’s take a look at what solutions they have for this.
How long does it take to sell a house?
According to Zoopla, the average time to sell a house in the UK is 185 days (this is 25 weeks or 6 months).
This timeframe varies according to many factors, including:
- Location
- Type of property
- Market conditions
And more.
Sell fast vs. selling urgently
Most people want to sell their house relatively fast. So, they may market it more aggressively and put more effort into staging it.
This could speed up the process by weeks or even months. But on the open market, nothing is guaranteed.
To sell a house urgently, however, requires alternative property selling channels.
Here, we are defining urgently as ‘as soon as possible’.
Ways to sell your home fast
Auction
With property auctions, a home can sometimes sell in a matter of days.
However, once you set a reserve price, you are not guaranteed to get your asking price. And a lot will depend on the timing of the auction you work with – they take place on set dates.
Online estate agents
Also known as hybrid agents, online agents have lower fees than high-street agents.
They are still listed on property portals. But they communicate with buyers via phone, email, and software. This can speed up the sales process, but it doesn’t always do so.
Selling your home privately
Selling privately means handling the entire property sale yourself. I.e., without an estate agent.
This saves you money but not time. You must prepare your house, value it, take photos, advertise, and handle viewings.
Whilst you gain control over the process, it doesn’t guarantee you will sell your house faster.
Ways to sell your home urgently
Selling your home privately to a friend
If you already know someone willing to buy your house, you can sell your house very fast.
However, this option relies on knowing such a person. And it’s based on the assumption that they don’t want to spend time negotiating.
Cash buying companies
Cash house buyers (also known quick house buyers) buy properties upfront from owners.
This avoids waiting for a buyer to get a mortgage, making it one of the fastest-selling methods.
There are several benefits of selling to a cash buyer, including:
- Speed: Transactions in as little as 7-28 days.
- Certainty: Sale is not dependent on a buyer securing financing from a bank.
- Flexibility: Many cash home buyers are flexible on property conditions. Whether your home needs repairs or is un-mortgageable, they can still make an offer.
The downside to cash house buyers is that they offer below market value. This is usually 75 – 85% of the property’s open market value.
Pros and cons of selling your house urgently
The pros and cons of selling your house urgently depend on the method you choose to do it. But there are some general points that apply regardless of these.
Pros
Convenience
Property requires upkeep. For a start, there are holding costs, including:
- Bills and taxes
- Repairs and maintenance (i.e., gardening)
- Insurance and mortgage-related costs
These all require time and effort. This is particularly difficult to maintain when you are living elsewhere.
Security
There are security issues to consider when leaving houses uninhabited.
If possessions are still in the property, it will be vulnerable to burglary. And if it’s left empty, it’s still vulnerable to vandals and squatters.
Dealing with any of these crimes is both stressful and time-consuming.
Cashflow
Many people’s capital is tied up in their property. Once your house is sold, you will have access to cashflow.
You can use the funds for other investments, pay off debts, or handle any unexpected expenses.
Additionally, cashflow can provide financial flexibility and peace of mind. This allows you to respond swiftly to opportunities or emergencies.
Timing
The housing market often moves at a relatively stable rate. However, occasionally it experiences sudden volatility. This can happen on a local or national level.
You can take advantage of a hot market where buyers are eager and willing to pay more.
Similarly, if you sense an area is in decline, you may be able to sell before your property looses value.
Cons
Lower sale price
Urgent sales often mean you’ll get a lower price than if you sold through traditional methods. Buyers might sense your urgency and negotiate harder.
Limited buyer pool
You might attract fewer buyers since most are not prepared or willing to move as quickly as you need. Your urgency will limit their time for finding financing. And it might put them off
Limited negotiation
The need for a quick sale can restrict your ability to negotiate. You might find yourself accepting offers below your desired price. Or you might end up agreeing to less favorable terms to speed up the process.
Stress and pressure
Urgency adds pressure to an already stressful process. The tight timeline can exacerbate the emotional and logistical challenges involved. This can affect your decision-making, making you more prone to mistakes.
Potential for regret
Selling a home under pressure can be emotionally taxing. This is especially true when it’s due to financial hardship or personal issues. The rushed decision can leave you with a lingering sense of regret.
How to prepare your house for an urgent sale
Whether you’ve decided on how to sell your property or not, you can prepare your property for sales.
These steps are similar to general tips for selling your house.
Declutter thoroughly
Tidy the entire house and remove all clutter. It’s especially crucial for areas like kitchens, bathrooms, and entranceways.
Pack away personal items and minimise furniture to make rooms appear larger. This showcases your property at its best.
Take care of minor repairs
Although cash buyers purchase as-is, handling minor fixes still adds appeal.
Fill holes in walls, fix leaky taps, replace cracked tiles, and touch up paint jobs. Spot cleaning carpets also keep your home looking its best.
Hire professional cleaners
Hiring professional cleaners ensures your property shines. Ask them to thoroughly clean the kitchen, bathrooms, walls, floors and windows.
Add scented candles or air freshers around the home, too.
Maintain the garden
‘Curb appeal’ matters. It can even impact a cash investor looking to renovate before reselling.
Basic gardening, removing cars from the drive, and repainting the door (if needed) all help.
Organise paperwork
Property sales require documentation such as:
- Proof of ownership
- Instruction manuals
- Certificates
- Warranties
- Recent utility bills
And more.
Having these to hand will significantly speed up fact-finding and conveyancing.
Vacate early
To hand over the keys immediately after exchanging contracts, gradually move non-essentials to your new home. This also makes pre-completion visits easier for developers.
Keep communicating
Provide updates to the buyer on your moving plans and progress in preparation. This helps align both parties for a smooth completion. Reply promptly to queries, too.
Preparing your home correctly allows cash buyers to assess property conditions accurately. It speeds up conveyancing, and keeps the sales timeline on track.
Reasons to sell a house urgently
Why might you need to sell your property urgently?
Here are some of the most common motivations.
1. Relocation
Perhaps you have accepted a job in another part of the country. Or one that requires relocating internationally. You’ll likely need to move immediately.
Given standard house selling timeframes, you may be unable to wait 2-3 months. Selling rapidly allows you to relocate on schedule.
2. Financial issues
You may need money quickly due to job loss, medical bills, or other unexpected costs.
Selling your home fast can give you the lump sum you need.
3. Inheritance
Perhaps you’ve inherited a property you want to sell promptly (maybe because you don’t plan to live there). This avoids extra paperwork and expenses.
4. Relationship breakdown
Following a divorce or separation, couples often sell their shared home quickly to finalise the split. This avoids further spending time living together.
Sell your property urgently with We Buy Any Home
If you are looking to sell your property urgently, We Buy Any Home can help you.
We are quick house buyers who can purchase your property up-front and quickly, without hassle or stress.
Using our own funds, we will purchase your property:
- At a set price
- By a date of your choosing
- fully managed from beginning to end
Some of our clients sell their house with us within just 7 days.
Fill in our enquiry form below if you want a cash offer for your house.
