Property News

There are all sorts of reasons for which you might want to sell your house quickly. Maybe you want to relocate for work or family purposes or need to liquidate your assets to raise money. Perhaps your property has been on the market for longer than you had expected when you decided to sell up, and you are just anxious to offload it and move on. The residence in question might even be an investment that you want to sell on for profit or "flip", with as little delay as possible so you can turn to fresh opportunities. Historically, property in the UK has been regarded, with some justification, as being something of an illiquid asset, largely because the conveyancing process, at least in England and Wales, can be grindingly slow, and all manner of legal obstacles can arise mid-transaction. Times change, though, and it's now entirely possible to sell a house or flat quickly. How?

1. Online services

It's no exaggeration to say that technology has revolutionised the property market.

Firstly, with a service like ours at Nethouseprices, you can research house values by postcode, so you are able to quickly tune into to the local market and have a shrewd idea of the cost of properties similar to yours. You can then get a speedy house valuation. When you list your home online, you can reach thousands of potential buyers virtually at the click of a button. Likewise, you can accelerate your search for a new home by checking out the frequently updated online listings for suitable properties.

In the past, one of the central causes for delays in selling your home was the sheer volume of documentation that needed processing and exchanging - from hard copy mortgage applications to correspondence with estate agents and solicitors. This administrative works still needs to be carried out, of course, but now you can deal with a great deal of the conveyancing process electronically, whereas once you were dependent to an extent on the vagaries of the postal service.

2. Property auctions

It's probably fair to say that property auctions are often perceived as being the province of either foreclosures or houses which, for whatever reason, are difficult to sell via more traditional means, like estate agents. These types of property are sold at auction, but there are also huge numbers of motivated sellers who simply want to sell up as quickly as possible.

When you sell at auction, you will normally obtain a house valuation and set a reserve price, which is somewhere south of this amount. The day of the auction will typically be a matter of weeks from the date on which you place your listing with the auctioneers. This is just one way in which selling at auction can speed things up. Additionally, if your house is sold on the day of the auction, the buyer will immediately pay a ten per cent deposit, and is then required to pay the balance within a set period of time - usually 28 days. This is in striking contrast with a traditional conveyance, which can take weeks or even months to complete.

The obvious downside of selling at auction is that bids for your property might not reach the reserve price, and you will need either to relist it or sell it through other channels. Either way, you will be required to pay the auction house fees. Equally, you might be disappointed if the bids don't go much further than your reserve price and, once the gavel has been struck, you can't renege on the deal. This being said, it's not uncommon for houses to be sold at significantly higher prices than expected. The question you need to ask yourself is: am I willing and able to risk receiving a less than stellar price, in order to sell my property quickly?

3. Styling your home

If you want to sell your house or flat quickly, you probably won't have the time to undertake major works to enhance its appeal to buyers. You can, however, make several speedy cosmetic improvements to increase your chances of a quick sale. Ideally, we would all engage the services of a professional home stylist, since it's well established that their embellishments can not only expedite the sale of a property but also hike its eventual selling price. This type of work is beyond most of our budgets, though, so the next best strategy is to check out some of their tips and hints:

- Decluttering: tidying your house and removing the clutter will instantly make it more attractive to buyers. Don't make things too sterile, though. For example, don't remove all the towels from your bathroom, but do ensure that those on display are fresh, clean and fluffy.
- Paint doors, windows, fences and gates to make the property look smarter and deliver more "kerb appeal."
- Make sure the garden and any yards are tidy.
- Refresh the paintwork, so your decor seems clean. Estate agents usually suggest a fairly neutral colour scheme, because anything too "busy" or idiosyncratic can be offputting to prospective buyers.
- Give carpets and soft furnishings a deep clean.
- Check out the latest interior design trends in one of the glossy magazines and, without spending too much or exaggerating the effect, see if you can incorporate a couple of these into your home.
- Buy some discreetly fragranced candles to burn to make the property feel welcoming.
- Prepare a file on local attractions and amenities to give to viewers. This might include details of the best local schools, nearby shopping and leisure facilities and the nearest transport hub.
- Make a chart listing what you currently pay for utilities and council tax. Like the information above, potential buyers can do this research for themselves, but it is thoughtful, not to mention quicker, for you to provide the details to help them make their decision as to whether yours is the house for them.

We hope you have found this short Nethouseprices guide helpful. Visit us again soon for the latest property market news and for commentary and analysis of the issues affecting you, your family and your investments.