Six quick ways to sell your home
If you are looking to sell your home quickly, there are a number of options to consider. These will change dependent on how pressing your need is, what kind of property you are selling and where it is.
Find out how
1) Estate Agents
If yours is a relatively liquid property and you only need to get under offer quickly, as opposed to actually receiving the cash, you can use a traditional estate agent and let them know that you need to move quickly.
They will advise you to reduce the price to a level where they are confident they can find buyers quickly.
Pros - They should be able to get you under offer relatively quickly.
Cons - You will still be a chain-buyer for your next purchase. Agents may begin to view you as a “motivated seller” and not seek to get you the best possible bid.
2) Part Exchange
If you are buying a new build property, most large home builders offer part exchange services in order to reduce their concentration of risk.
They will give you a guaranteed sum for your house which they subtract from the value of the house you are buying.
Pros - You will know exactly how much you will have and you can sell your existing house stress-free.
Cons - It can be hard to know if you’re getting a good deal or not as scheme providers will tweak both the price of the house you are buying and the one you are selling in order to make the deal work for themselves.
Sell your property to the highest bidder on the day at a property auction. An auctioneer will typically charge you 2.5% of the final sale amount, plus a marketing fee of £500 and a buyers admin fee of £750.
You can set a reserve price for the auction. If a buyer exceeds it they will pay a deposit of 10% immediately and the remainder within 28 days.
Auctions can be well attended by property developers so this can be a good way to sell unmodernised properties requiring a lot of work.
Pros - If the reserve price is exceeded, then the transaction is almost certain to go ahead within 28 days.
Cons - You don’t know exactly how much you will get and will have to pay the auction entry fee even if your property doesn’t sell above the reserve.
4) Home buyer
Think webuyanyhouse or similar. They will give you a cash offer on your property within 7 days.
Offers are typically open for 30 days and you should allow another 14-28 days once you’ve accepted the offer to have the cash in your bank account.
Pros - You will know exactly how much you will have.
Cons - They typically only pay 70-80% of what your house is worth.
5) Assisted sale
Some home buyers offer an alternative process where you leave your mortgage finance in place and they take over the mortgage payments until they sell the property.
This allows them to make use of your existing leverage in the property to get return on investment and as a result they can offer you slightly more than with their standard cash offer.
For example, if they made an offer of £85k on your property and you had a £50k mortgage outstanding they would immediately pay you £35k and assume the debt liability themselves.
Pros - You will get access to some of the equity in your property quickly.
Cons - Typically you will receive 80-85% of what your property is actually worth.
We're the only estate agent giving you an advance to buy your new home, while we sell your old one for the best possible price. We agree the advance amount with you so you move home like a cash buyer.
Your advance is available if you need it, but you will pay less in fees if you don't use it, and no matter how long it takes, you will receive the full sale price on completion.
Pros - You have an advance, and certainty, from day one and don’t have to compromise on sale price.
Cons - You will have to wait for our cooling off period (typically 3 weeks) to receive the cash.
What's different about Nested?
Sell with Nested
- Stress free home sale
- Negotiate as a chain-free buyer
- Buy your new home from day 30
- A valuation based on data
- Walk away at any time
- 1 in 3 home sales fall-through
- Average home sells in 6 months
- Inflated valuations
- Lose out to chain-free buyers
- Fixed-term contracts