How to sell your house quicker: Top tips on clinching a property sale in the UK

A recent survey by Moverly found it takes 3 times as long to sell a house in the UK as it does in the USA. In the UK it takes an average of 5.8 months compared to just 53 days in the USA. The survey found the UK was the poorest performing of 12 countries.

Looking a little closer to home, Home.co.uk data shows more than 1 in 5 Northamptonshire properties have been advertised for sale for more than 6 months.

So why does it take so long, and what can you do about it? We asked property buying expert Chris Hodgkinson, Managing Director of House Buyer Bureau for his top tips.

Chris says, “The house selling process in the UK is a complex and fragile one. Finding a buyer is the often the easiest part. Once the survey and legal process takes over it is usually several months before you can complete your sale, and during that time a lot can, and sadly does, go wrong. The longer a sale takes, the more stressful it gets and the more chance there is of it falling through.”

Here are Chris top five tips for how to sell quickly and avoid months of stress and hassle.

#1: Set the right asking price from the start.

Zoopla recently found that it takes twice as long to sell a house if you must reduce the asking price by 5% or more. Chris says, “Don’t just go with the estate agent who offers you the highest valuation. Ask them to back up their valuation with specific reasons and examples of properties like yours that they have recently sold. And do your own research on the property portals by searching for properties like yours in your local area that have sold recently.”

#2: Appoint a solicitor quickly and don’t put off paperwork

Chris says, “The conveyancing process is usually takes the longest and is the most complex part of a house sale, so it is important to choose the right solicitor. Sites like Homeowners Alliance can help you find the best solicitor for you. It doesn’t have to be someone local as most work is done over the phone or via email. You can save yourself a few weeks by signing up early and completing the PIFs and SIFs (property and seller information forms) before you find your buyer.

Pick the wrong solicitor and you’re going to get a slow sale, either because they don’t do a lot of conveyancing work, or they are slow to respond and poor at communication. There are lots of stakeholders involved in a house sale and good communication between the client, surveyor, solicitor, lender, estate agent and your buyer’s solicitor is essential if your sale is to go ahead.”

#3: Be ready to negotiate.

Chris says, “Selling your house is a negotiation. Ultimately your house is only worth what someone else is willing to pay for it. Setting a competitive asking price increases your chance of finding a buyer quickly, but you should still be prepared to negotiate. Something will crop up in the survey or legal checks – it always does, and your buyer will want to negotiate on the agreed sale price.

As the seller you still hold plenty of cards. You could agree a reduction if the buyer exchanges contracts within an agreed period. This locks them into the sale and avoids the risk of a fall-through. You could agree to do any repair works prior to the sale to avoid having to reduce your asking price.

If your buyer is trying to negotiate then don’t respond immediately. Talk to your estate agent to get their professional opinion, and make sure you know how low you are prepared to go. And remember that you can always walk away if the buyer is being unreasonable.”

#4: Its good to talk.

Chris says, “Good two-way communication is key at every stage of the house selling process. You have so many different parties involved from estate agents, surveyors, and lenders to solicitors acting for you and for your buyer, and if you are stuck in a chain, you can multiply all of this by 2, 3 or more.”

Poor communication between any of these parties is a key reason why the process can take so long. It might feel a bit awkward, but you should chase for regular updates to make sure your sale isn’t stalling. It is your house so no-one will care more about getting it sold than you do!

#5: Find a cash buyer – it makes everything so much simpler.

One way to speed up your sale is to sell to a cash buyer. A cash buyer doesn’t need a mortgage and there is no property chain involved. This significantly simplifies things. Zoopla say this can reduce the time it takes to complete the sale process down to just a month.

Chris says, “There are two ways you can find a cash buyer. You can advertise that you’re only interested in “cash buyers only” which might limit the pool of potential buyers and take longer to find a buyer initially. Or you can approach a professional property buying company like House Buyer Bureau.”

Property buying companies will give you a guaranteed cash sale in any timescale you want. They have the expertise and connections to buy property far more quickly than a private buyer. They will pay less than you will get via an estate agent – usually 80% of market value – but by selling in weeks rather than months you can avoid estate agent and legal fees (as the company will pay these) and avoid months of hassle and stress.

Chris says. “Using a property buying company isn’t the right route for most people as you will sell your property for less. But if you are struggling to sell or can’t afford to wait months, then it is an option worth exploring. Any reputable company will give you a free cash offer, and won’t pressure you or tie you in. At House Buyer Bureau we’ve helped thousands of people sell quickly, simply and with little to no stress.”