I'm a property expert that still remembers the days when having broadband was a selling point! My articles cover issues that homesellers face in the UK and answer the questions we're all asking. I've bought and sold properties and helped others do the same, so my writing comes from years of experience.
Read Full Bio >Speed is vital to almost any homeowner planning to sell their property faster.
If you are a vendor yourself, you may simply want the process to be done and dusted quickly – as transactions of this kind can be stressful and complex.
However, you may also be under external time pressure. Perhaps you are relocating for a new job, or maybe the property you wish to sell is proving a bigger financial drain the longer you are forced to manage it. Alternatively, you may need swift access to a lump sum of cash.
Whatever your reason, if you find yourself asking “how can I sell house faster?”, you are certainly not alone. This is an incredibly common question among vendors for all of the reasons above and more.
In this article, we explore a number of techniques and approaches that you can use to speed up the property sales process and get hold of the funds from your transaction in good time.
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Work Around Your Estate Agents
If you have already entered into a contract with your estate agents, your hands may be tied for a set period of time. However, that doesn’t mean that you can’t take steps to improve your chances of receiving an offer quickly.
Cash Buyers Only
Depending on the point that you have reached within the sale process, you may be able to ask your estate agent to specify “cash property buyers only” so you can sell house fast.
This means that you will only accept offers from buyers who have immediate access to the capital required to purchase your property. Those who are reliant on a mortgage or some other source of finance may not apply.
There is something of a risk inherent in this approach, as specifying “cash property buyers only” will naturally narrow your “target audience”. However, if you are able to find a buyer that fits this specification, the resulting process is likely to be a lot swifter and less complex.
After all, these individuals usually won’t be part of a “chain” – which means that they won’t need to wait for someone to buy their property before they can access the funds to purchase yours and help you get a guaranteed sale of your home.
What’s more, you won’t have to pause proceedings until they have been approved for a loan. Usually, cash buyers will be ready to move almost straight away.
Whether or not you will be able to request “cash buyers only” will depend on the preferences and practices of your individual agent, but it may prove an effective way of speeding up your sale.
Do Your Own Marketing
Estate agents manage multiple properties at a time, and, as a result, they do not often have the capacity to focus on your sale in the detail that you might like. As a result, things can take longer than is desirable and a quick house sale may be out of the question.
One of the ways in which an estate agent works to achieve a sale at asking price is by advertising your property on their website, on various portals, on social media platforms, in email marketing and elsewhere.
If they fail to do this effectively, you may find that you aren’t achieving the interest from potential property buyers that you had hoped.
However, there are certain things you can do to support your agent’s efforts when it comes to promoting your house sale. For a start, you can share links to your listing across all of your social media platforms, using the right handles and hashtags to make it as discoverable as possible and help you sell your house fast.
For a start, why not share the information on your own page? You may have friends of friends who are looking for somewhere to live in your area who are willing to pay full market value for your home or try your local estate agents for potential buyers on the property market already looking for a home just like yours.
There are also many location-specific property pages and accounts – particularly on Facebook and Twitter – where vendors can post information about their home to be viewed by an audience of potential buyers.
You can also add your property to local listings – and there may even be relevant specialist sites that you can contact if your home has something unique or unusual about it – such as period features.
The more information you can share about your home online, the more likely it is to be discovered by the right buyer.
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Prime Your Property
Sometimes, making your property more visually appealing is enough to vastly improve the number and quality of the offers received assisting with the overall house sale.
Kerb Appeal
“Kerb appeal” is among the most important factors influencing the success of your sale. This term refers to the way the property looks from the road. The more attractive and well-presented it is, the more likely you are to sell fast and for a good price.
Consider weeding and pressure-washing your drive, neatening any front lawns or borders, polishing up windows and even giving your front door and gate a lick of paint – it will all help in the efforts to sell your house fast.
Sprucing and Decluttering
Viewings are a vital part of selling via an estate agent or at auction, and a neat, tidy and clean house makes all the difference.
Often, a significant amount of time can be saved by grabbing a bin bag and a duster rather than sitting at the computer Googling “how to sell my house quickly for a good price”!
Too many personal possessions lying around can lead to a potential buyer feeling as if they are intruding on someone else’s space, rather than encouraging them to imagine how their own furniture and belongings would look in each room.
To that end, it is a very good idea to have a major clear-out before you begin to accept viewings. Get rid of any bric-a-brac you no longer need – even in cupboards and storage areas – and take time rearranging and styling your spaces.
You may decide to invest in self-storage so that you have somewhere else to keep your belongings during this period.
Be sure to vacuum every room and keep everything dust-free where possible. It’s also a good idea to repair and polish up older furniture and even to give each room a lick of paint if you feel it is required.
All outdoor spaces should be pruned and neatened, too.
When the time comes for a viewing, it’s a good idea to flood your home with as much natural light as possible by opening all curtains, blinds and doors. This will make the spaces feel bigger, fresher, brighter and more welcoming.
Of course, it is important to budget carefully for any repairs and improvements prior to selling your home, as it is easy to get carried away and – in all likelihood – the property’s new owners will likely want to put their own stamp on the home once you’ve left.
Great Photographs
Take a look at the images that your estate agent is using to sell your property. They should not use any filters or special effects, and they should show each space looking its best.
Natural lighting is always best where possible, and images should show neat rooms with minimal clutter.
If your home has any special features, these should certainly be pictured – along with the best view looking out from the property and a clear image of its facade to show kerb appeal.
If you believe that the pictures of your property that are displayed by your estate agent are in any way sub par, it may be worth requesting new ones. You may be surprised at how quickly your viewing requests increase in number as a result.
It is also a very good idea to display a floor plan and energy certificate – if not already displayed – as well as any information about planning permission that has been granted.
Some estate agencies are able to include a “video tour” or “VR walkthrough” of a property, so you may also consider asking if this is possible. The more information you can offer a buyer prior to the viewing stage, the more likely you are to receive interest from “viable” parties only.
Changing Your Agent
If you have seen little progress with your current estate agent, it may be worth checking your contract to see how you might be able to switch to a different estate agent.
If you are able to go in a different direction, it’s important to remember that the traditional “high street” estate agents is not your only option. Throughout the remainder of this article, we’ll explore a range of other property sale methods that may prove faster.
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Use an “Express” Estate Agency
Homeowners who are looking into how to sell a house faster than is achievable via a traditional estate agent may instead consider using an “express” online estate agent.
These estate agent oganisations do not always have a physical “shop front”, and instead rely on tried and tested online methods to find the right buyer as quickly as possible.
Some may have a roster of investors that they can call upon to help sell your house in different locations. Others may rely on a range of property and social platforms, search engine optimization techniques and other approaches to focus their efforts on promotion.
The majority combine a wealth of industry experience with the above techniques to achieve the best possible sale as quickly as possible; sometimes within three months from a reputable estate agent.
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Go to Auction
There are now two types of property auction: the “Traditional” and the “Modern Method”. Both are viable alternatives to an estate agency sale – particularly if you want to sell a house faster. Both have their own unique advantages and drawbacks, too.
Here, we’ll explore these two methods in detail.
Traditional Property Auction
Typically, bidding for property sold via this method takes place in-person, at a set place and time. However, many auction houses now facilitate online bidding for properties being auctioned in the traditional manner.
Properties are grouped in lots, and when bidding opens, buyers place offers until they are unwilling to go higher. Once the gavel falls, the highest bidder automatically enters into a legally binding contract whereby they promise to fulfil the purchase.
As soon as a bidder has won the auction, they are required to pay a deposit towards the property – usually of around 10% of the agreed final price. They then have a set period of time (commonly 28 days) to pay the remainder.
Prior to auction, the vendor and the auctioneer must agree on both a “Guide Price” and a “Reserve Price”.
The former is a publicly available figure intended to attract bidders and to give them some idea of the amount for which the property is likely to sell.
The latter is a figure that is kept private from the public and represents the lowest acceptable bid. If the reserve is not met, the property is removed from auction and must be relisted or sold via another method.
It is usually possible for buyers to take a look around an auction property before bidding opens, though this often takes the form of “block viewings” on set dates, where numerous potential bidders attend at the same time.
Unlike a property buying company – sellers and buyers must register with an auction house before partaking in a transaction. Here, they must provide proof of identity and (in the case of the seller) proof of ownership of the property, or (in the case of the buyer) proof of funds.
While some “traditional” auctioneers now permit mortgages, it tends to be much easier for bids to be placed by cash buyers. Most auction houses will also offer you a free cash offer to get an idea of what your property may sell for on acution day. You need to be aware that at auction the chances of getting full market value are slimmer than selling through a traditional estate agents.
Modern Method of Auction
This more recent method of buying and selling property is similar in many ways to the “traditional” approach. However, it tends to take place exclusively online, and bids can be placed for as long as the property is listed – which may be up to 30 days.
Once this period draws to a close, the highest bidder must pay a non-refundable “reservation fee”, usually of around 5%. Following this, the buyer is granted a period during which to exchange contracts and to pay a deposit, and a further period to complete.
Both periods are usually around 28 days each.
During the run-up to the exchange of contracts, the buyer may secure a mortgage, instruct a solicitor, arrange a survey and undertake any further tasks to prepare to buy the property.
If they are unable to secure financing, or if their searches reveal something unexpected that they are not willing to tackle, they may drop out of proceedings.
As a result, they will lose their 5% reservation fee – and their deposit, if they have paid it by the time they have abandoned the purchase – but they are not legally bound to the transaction and the property will need to be relisted.
The Benefits and Drawbacks of Auction
Selling via auction – whether by way of the traditional or modern method – can be a little more costly than using an estate agent.
Buyer and seller fees vary between auction houses – however, the vendor must usually pay some form of administrative charge and will also need to instruct a conveyancer to develop a “legal pack” containing all required documentation relating to the sale of the property.
The process is usually much quicker than a standard agency sale, however. What’s more, the seller will be aware of exactly when the process will finish – as the date of bidding or of the closure of their auction listing will be publicly known.
As a result, you will be able to plan around these dates with some certainty as an auction seller.
The finalisation period associated with the modern method of auction is lengthier, and there is also a risk of the sale falling through – which is not the case with traditional auctions.
Of course, there is also the risk of bids failing to meet the reserve price, or of there being no buyer interest in the property whatsoever. In these cases, if a deal cannot be struck independently, the seller may need to relist the property or seek another method of sale.
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Use a Cash Home Buying Company
If you’re wondering how to sell property faster than any of the above methods allow, you may prefer to use a cash home buying organisation to sell your house fast.
Otherwise known as “we buy any house” companies or fast home buying firms, these are businesses that buy your home directly from you, for cash – and can usually complete a house sale in under 30 days. Whatsmore you the seller will pay no legal fees or sales fees generally.
They cut out the middle man, as you will not need to wait for buyers to be approved for a mortgage or to express interest – and no viewings are required. There is no chain, so the likelihood of a sale falling through or being significantly delayed is extremely low.
In many cases, organisations of this kind will buy property in almost any condition, in any location.
The main downside to this option is that offers made by fast home buying companies will usually be lower than the market value of a property, as they make their money by purchasing at a slightly reduced rate, then selling on the open market.
They may renovate a property before selling in order to achieve a greater profit.
You can usually expect a company of this kind to offer between 70 and 85% of your home’s market value. However, it is common practice for “we buy any house” companies to waive agency fees and valuation costs – and even to cover the seller’s legal expenses.
The target audience for organisations of this kind usually consists of homeowners prioritising the speed of a transaction above the profit made as a result.
The Process
The standard “fast home buying” process usually goes as follows:
- The seller approaches the organisation and asks for a “no obligation” offer for their property
- The company undertakes a “desktop valuation”, then provides an estimated offer
- The seller accepts or declines
- If the offer is accepted, the company undertakes further research, which usually includes an in-person survey
- The company provides a second “official offer” that the seller then accepts or declines
- If this “firm” offer is accepted, the seller and the home buying organisation go on to instruct their respective solicitors
- The company pays for the property – usually from their own funds, contracts are exchanged and the sale is complete
This is a significantly expedited approach, which often takes less than a month to complete. Some property buying companies claim to be able to buy a house in as few as seven days.
Many vendors consider the speed of this process to be worth the below-full-value sale price – particularly as a quick sale may allow them to make savings in other areas.
Any Questions
If you wish to sell your house, the best way forward may be to choose one of the above methods.
For further information about the fast home buying process, or to receive a no obligation quote, don’t hesitate to make contact with our team of experts today.
If you are happy to accept our offer, we can buy your house fast in just a few weeks.
