Once you’ve decided you’d like to sell your house the next step is to work out the best way to do it. There are several different directions you can go in, each with their own pros and cons. We’ll take a closer look at them here.
Several ways to sell a home
Which method you choose will depend on your personal circumstances, so it’s a good idea to think about what your priorities are – the speed of sale, high price, hassle free process and so on – before making your decision. Here are the most commonly used methods:
Traditional estate agents – an estate agent with a nearby office will have good local knowledge but usually charges fees between 1% and 2% of the final sale price of a home, which can prove very expensive. However, if your home is unusual or the market is slow and you want someone to manage the process for you, they could be worth the investment.
Online estate agents – much cheaper than a traditional estate agent, online agents usually charge a fixed fee between £300 and £1,500. Some offer a no sale no fee service. You can also pay for extras such as a locally-based agent to accompany people on viewings. But if you’d prefer a more personal, face-to-face service this might not be the best option.
Private sales – one way to avoid the cost of an agent altogether is to sell your home yourself. This is a good way to go if you already know someone who wants to buy it. If you don’t, you will need to market the property. Portals such as Rightmove and Zoopla do not list private sales which can make this a little trickier. You will also need to be comfortable hosting viewings and negotiating directly with potential buyers.
Auctions – entering your home into an auction increases the likelihood of a quick sale. The competition generated by an auction may also help push the price of it up. However there’s no guarantee of a sale and although relatively fast, the process from start to finish takes around ten weeks. Fees are usually more expensive than estate agents at between 2% and 3% of the sale price plus VAT.
Home buying company – this is the fastest way to sell your home with the least costs, although they’re likely to offer slightly less than the market value of your home. It’s important to use a reputable company that is transparent about the process and the price they will pay you. We’ve been buying homes for more than three decades, we do it quickly – in seven days if necessary – and aim to make it as stress free as possible for you. That includes instructing and paying for solicitors and not using estate agents. Once we’ve agreed on a final value for your home and a completion date, we will stick to them.
The stages of a sale
Whichever way you decide to go, there are some common steps that’ll need to be taken to get your home ready for a sale:
- Getting your house in order – if you can it’s a good idea to deal with any DIY issues, redecorate or have a big clear out before you start the sale process so that your home is in the best shape for valuing, photos and viewings.
- Market appraisal – either you, an agent or valuers from an auction house will come up with an asking or guide price for your home. If you work with us, we’ll tell you the best offer we can make within 24 hours, before organising valuers to visit and confirm it.
- Marketing – photos will be taken, floorplans created and descriptions written for print and online marketing. Photos are a vital way of enticing viewings so if you’re taking them yourself make sure each room is shown in the best possible light.
- Viewings – hopefully you’ll generate enough interest to attract people to come and have a look. If you’re conducting the viewings, plan a route and start and finish in the most impressive part of your home.
- Offers – you may soon start receiving offers. Either you or your agent will then negotiate with the potential buyers. Once you’ve accepted one you will need to instruct a solicitor to start conveyancing. At an auction, you are committed to the sale once the auctioneer accepts a final bid.
- Conveyancing – a solicitor or conveyancer will make sure the legal side of the transaction is carried out, taking you through to exchange of contracts and completion day. This often takes around 12 weeks.
Working with us
If you sell your home to us we’ll take care of most of those steps. You won’t have to deal with estate agents, viewings or price negotiations. We’ll also instruct solicitors, cover their fees and do the chasing to make sure they’re on track.
We’ll offer slightly below the value you might be able to get on the open market. But if you need to move quickly, want a guaranteed sale and would rather not pay any fees, we’re a reliable and experienced option. If you’d like to chat about how we can help you sell your house, please get in touch.