A quick property transaction is every homeowner’s dream. When the time arrives to sell your flat, you don’t want the process to be dragged out for months or years – you want it to be completed quickly, so you can move onto the next stage of your life. It is therefore important to know the main things you should do to make sure your flat sells fast. Read our blog below to see our top tips for a speedy transaction.
Make sure your lease is sorted
Arguably the biggest hurdle to selling your flat quickly is the lease. If less than 80 years is remaining on your lease, it will be difficult for any potential buyer to get a mortgage on your flat, and lots of time will be wasted while you negotiate an extension with the landowner.
The process of extending a lease can be time-consuming, and if you want to ensure your flat is sold quickly, then make sure you get your lease sorted out before you list the property on the market.
Choose your estate agency and conveyancer carefully
Research is key when selecting your estate agency and conveyancer. Like with all industries, there are some businesses who are much timelier than others at doing their job. Therefore, by asking for recommendations from neighbours, friends and family, as well as looking at online reviews, you can get a sense of which estate agencies and conveyancers work quickly and which ones are known to be slow and inefficient.
Communicate clearly and regularly with your estate agent and conveyancer
Clear communication is essential to every transaction, regardless of the type of property. When you communicate clearly and regularly with your estate agent and conveyancer, it guarantees that you don’t fall down their ‘to do list’. It also helps to make sure that they have all the information needed from you to do their job efficiently.
You should also aim to communicate regularly with all the other people in your property chain, if there are any. This will help them to anticipate your progress and get a clear sense of when you will be ready to complete the sale – and it will also enable you to anticipate any hitches elsewhere in the chain.
Complete the ESW1 form
If you own a flat in a building that requires an EWS1 form, you’ll need to obtain this form before you can sell the property. Commission an assessment of the external wall system by a chartered surveyor or another suitable professional, such as an architect or fire engineer, to get the form.
Keep in mind that obtaining an EWS1 can be a time-consuming process. You must do this before listing your property on the market. You should also note that the evaluation can take several weeks to complete, so it is something you’ll need to factor into your selling timeline.
Select a chain-free buyer
When you are operating in a property chain, the transaction tends to take much longer, because you are waiting for everyone else to get their affairs in order. By contrast, selecting a buyer for your property who is chain-free means that you aren’t waiting for others in the chain. You can sell as soon as you are ready.
Chain free buyers are not easy to find, but they do exist. Property developers are a common example, as are first time buyers. If your property is in the price range for either of these demographics, then it may be worth reaching out to some of these people directly to speed things up.
Consider a cash buyer
Selling your property on the market is rarely a reliable method for achieving a fast sale of your flat. When you are relying on estate agents, conveyancers, potential buyers and more to be hasty, it leaves a lot to go wrong.
On the other hand, selling your property to a cash house buyer can guarantee a quick sale. Reliable companies like WeBuyAnyHome can purchase your flat from you within 7 days, which is quicker than any transaction on the market.
Selling to a cash house buyer can also enable you to cut out some of the stressful, time-consuming processes mentioned higher in this blog. For example, a cash buyer will buy a flat from you even if it has a short lease. It also saves you having to facilitate viewings and negotiate a price, making it easier for you to sell your flat fast.
We Buy Any Home will purchase your flat directly from you using our own cash funds. This straightforward transaction guarantees you a sale and eliminates pitfalls of the open market such as chain breaks or buyers pulling out last minute.
Visit our other blog for more tips on selling your home fast.