How to sell your home quickly
A Viewber Guide: How to sell your home quickly
According to Home Sale Pack, the UK has the slowest sales process out of the world’s 10 busiest housing markets. Sellers here wait an average of 183 days between listing their property for sale and completion – a figure that’s just 69 days in America.
Not every seller has the time to wait for the perfect market conditions or the perfect buyer, so how do you sell your home quickly?
Viewber’s top 20 tips for a faster sale address three key areas: finding a buyer in the quickest time frame; choosing the purchaser who will proceed the fastest, and reducing the time it takes to exchange and complete.
1. Appoint a solicitor before your ‘for sale’ board goes up: the National Trading Estate and Letting Agency Team’s guidance says sellers should contact a solicitor at an early stage. This is so all Material Information can be collected before a home comes to market. More upfront information allows buyers to make quicker, more informed decisions. Buyers will also take a seller more seriously if they know a solicitor is ready and waiting.
2. Order an EPC before you come to market: an EPC is a legal requirement for every property being sold but not every home will have one. EPCs were introduced in 2007, so if you bought your current home before then, you will not have one. Additionally, EPCs are only valid for 10 years, so it’s worth checking if the one you have is valid. Sellers may also like to order a new EPC if they have undertaken energy efficiency improvements that they think may upgrade their rating. Book an EPC through Viewber and we’ll send out a qualified energy assessor.
3. Incentivise your agent: if you’re in a hurry to sell and want your agent to work a little bit harder, you can incentivise them. Consider paying them more commission if they find a buyer within a set number of days or weeks – perhaps 2% if they’re successful in the shorter time frame instead of the agreed 1.5%. Be ready for the agent to draw up a new contract confirming any revised details.
4. List with more than one agent: estate agents will hold their own list of prospective buyers and will invest in marketing campaigns to reach a wider audience. If you’re in a hurry to sell, consider listing your property with more than one agent. You can opt for joint sole agency, when two agents are instructed, or choose a multiple agent agreement, with two or more agents selling your home. Be aware that these arrangements usually carry higher fees.
5. Always say ‘yes’ to viewing requests: keen buyers won’t want to wait days to view a property – there’s a risk they’ll see and offer on a rival property in the meantime. Sellers who are busy or live away from the residence they’re selling can book an accompanied viewing with Viewber. We work seven days a week, with evening, weekend and Bank Holiday appointments available for reduced delays. A Viewber can either collect keys from an estate agent or become an official key holder.
6. Ensure the property is promoted on social media: posting your home on social media is essential. The audience is unlimited, especially as posts can be shared and tagged – the more people who see your listing, the higher the chance of an offer. Viewber’s listing pack service will give you all the assets you need to launch your property on social media, including photos, a floorplan and even 360° virtual tour.
7. Get your own survey done early: one of the most common occurrences to slow down a sale in England and Wales is what’s uncovered in the survey. The findings often lead to renegotiation but this can be avoided. Sellers can take the upper hand by commissioning their own survey, as they do in Scotland, choosing to rectify any issues before they come to market.
8. Opt for a cash buyer: another reason for a sale being delayed is an issue with the buyers’ mortgage. Offers are only valid for between 3 and 6 months, while the mortgage valuation survey may result in down-valuing and the mortgage offer being withdrawn. These scenarios – and the associated delays – can be avoided by opting for a cash buyer who doesn’t need finance.
9. Choose a purchaser with no chain below: chains are notorious for being complex to manage. In theory, the fewer people involved, the quicker a sale will be. By choosing a first-time buyer or an investor, there will be no one in the chain below to cause delays.
10. Be chain free yourself: likewise, if you want a quick exchange and speedy completion, it helps to be chain free as a seller. This means not buying an onward property but, instead, moving into rented accommodation or living with family.
11. Select a fully vetted buyer: many sellers experience delays when a buyer classed as a ‘good prospect’ turns out to fall short. Vetting involves checking aspects such as wage, credit history, income and mortgage agreement in principle to identify those in a position to proceed without delay.
12. Offer to cover the buyer’s legal fees: if you’re looking to give your sale the edge over other properties, consider offering to pay the buyer’s legal fees. It might prove to be a deal clincher but expect to confirm your offer in writing with the purchaser’s solicitor.
13. Sell with vacant possession: if you’re a landlord with a property to sell, the quickest sale will be achieved when a tenancy has ended and the property is vacant. Owner-occupiers may like to consider this too as, if the property is empty, it’s possible for the seller to grant the new buyer access between exchange and completion. This is advantageous if the new buyers want to start improvement works.
14. Extend the lease: leasehold properties where the lease is short – 80 years or less – can languish on the sales market. Extend the lease by the maximum number of years you can afford, then place your property on the market. Even better if you can buy the freehold.
15. Focus on presentation: If you want to know how to sell your home quickly, remember that messy homes in bad shape will be overlooked, with the best looking properties snapped up quickest. The 3 Ds are mandatory if you want to sell fast: declutter, decorate and decontaminate.
16. Gather documents together early: your solicitor will send you a batch of forms to complete – TA6, TA10 and TA7 (the latter for leasehold properties) included – but filling them in after you accept an offer adds time to the conveyancing process. Request them on day one and fill them in as soon as possible.
17. Consider accepting a lower price for the best buyer: the best buyer may not be the one with the highest offer. If your priority is a quick sale, you may need to compromise on price and opt for the purchasers who can proceed immediately (a cash buyer is the nirvana!).
18. Drop your asking price: you’ll reach a new audience of purchasers and perhaps re-engage with potential buyers who previously found your home too expensive by dropping the price.
19. Consider selling to a professional ‘quick sale’ property buyer: if you want an offer within 48 hours, exchange within a week and completion within a month, consider a professional ‘quick sale’ company. You’ll deal directly with them – no estate agent, open market or even viewings required – as the buyer will take a calculated risk and purchasing with cash.
20. Consider selling at auction: if you’re looking for an even speedier sale, an auction is the best route. If the reserve is met, exchange happens instantly when the gavel falls and completion needs to happen usually within 28 days.
If you would like Viewber on your side when you sell your home or a buy-to-let you own, please contact us. We’ll explain how our accompanied viewing, EPC and property listing pack service can help you sell your home quickly
