If I want to sell quickly, what’s my best course of action?
First, do your research.
Find out what they’re selling for. That’s important. Because obviously, if you want to sell it quickly, you want to know what price you want to sell it at or what is acceptable to you.
You must go on to Rightmove and Zoopla.
Have a look at historical prices. Do your research, spread out a quarter of a mile, half of mile, and make sure you’re comparing like for like. If you have a three bedroom semi, look for a three bedroom semi preferably on the same street. If there’s none for sale or been sold in the last year, then spread your search out a little bit wider.
That should give you a good basic foundation.
You should have some local knowledge as well, I would expect, if you’ve lived there for a while.
What’s selling? Has any sold boards gone up? That’s another big thing. But also, like I said, when you go on to Rightmove and Zoopla, they always give you the option to tick the box to see sold prices.
Always do that because there’s no better data than current sold data. There’s no better indicator then having property say sold a week or two ago.
Then, to sell quickly, you’ve got various options.
You can go to a quick-sale company and we have talked about this in man previous videos and blogs. And they’ll obviously want a discount to your market value, probably anywhere around about 20-30%. A lot of the quick sale companies, or the quick-sale companies I know, will complete quickly. Some can complete in 7-14 days, as long as the price is right.
However…Be very, very wary with some of them.
You can get right down the road and they’ll say, “Well, yes, it’s worth £100,000. We’ll give you £80,000.” And then when the sale is about to exchange contracts they’ll then say, “Oh, we’ve got a problem here. We need to knock another £10,000 off.”
So be very, very careful. Do your research on the companies, as well as your house prices.
But option is to sell at auction.
There’s online auctions that are kicking about all over. If I’m honest, I don’t think that they achieve really good results.
There’s also physical auctions. In the North East, there’s three or four big auction houses. Again, if you’re going to sell via route in order to get a quick sale, you’re going to have to knock a bit off the value. No different to selling to a quick-sale company.
Also some of the auction houses will charge what’s called a buyer’s premium, usually a minimum of £5,000 plus VAT, that’s £6,000. And that has to be paid by somebody.
So, in many cases obviously going to come off the value of your property.
So you can sell quickly via auction. but be careful who you go to.
Because, there are pitfalls that you need to be aware of.
A key pitfalls is that you could be tied in to a contract that obligates that you see putting your Propety into the auction till its sold. Now given that some auctions can be 2-3 months between each auction, you could waiting many months to actually sell your home.
The beauty of a professional house buyer is you can sell much quicker.
I know that when we actually buy properties for our investors, 95% of the time we will sell at that actual price. And be sold in sometimes as little as 3 days. And using our solicitors completion can be an average of 4 weeks but sometimes as little as 5 days.
When you contact us, you’re under no obligation to sell with us. That means you can have a confidential chat by calling me me at 0191 486 2386 with no attached obligations.
I’m always open, honest and transparent, and won’t tell you anything for the sake of it.
