How To Sell Your Home Fast In The Current Climate
The UK housing market is a little all up in the area. COVID has hit it hard and it’s a bit of a mixed bag. Some people are taking advantage of the stamp duty tax holiday and selling up to move on. Others have had sales fall through, housing valuations drop and mortgage offers pulled. Others are thinking about how to sell your home fast in order to make a quick deal.
When furlough was due to end in October it was thought there would be mass unemployment. But with furlough extended to March (for the time being) who knows if that will be the case. But with more people out of work now and the withdrawal of low-deposit mortgages for first-time buyers from some lenders, the pool of people looking to buy is decreasing. Yet plenty of people are still looking to sell.
What is a buyers market?
A buyers market is essentially when there are more houses for sales than there are willing buyers. A lot of people simply can’t afford to buy with less job security, higher deposits needed and mortgages changing all the time. It’s a case of supply and demand and because there’s more out there to choose from buyers can cheery-pick their homes more. And maybe even haggle down prices more as there are fewer people looking to buy.
A buyer’s market doesn’t mean that it’s impossible to sell, but it may take longer than you’d think. Or you may need to compromise on the final sale price because buyers will have other options. If you want to get a quick sale here are some tips on how to sell your home fast.
How to sell your home fast
Set realistic expectations
When thinking about the pricing of your property really listen to the estate agent and look at similar properties around yours. If there are other properties on lower than yours why would a buyer want to pay more for yours? Don’t get hung up on how much you could sell for and think about how much is realistic. Set yourself a limit of how much you’d compromise to so that you’re not losing money or putting yourself in a tough situation. If you’re selling to buy another property remember you should be able to haggle that one down in the same way someone can haggle on yours.
Boost your properties appeal to buyers
A way to sell your home fast is to boost the appeal to buyers. If you have a little budget complete any minor repairs which may need doing or the cosmetic improvements which people may notice straight away. When buyers have a lot of choices they may be picky and discount your house because of a slight imperfection. If your house has a lot of bold colours and prints it may be worth looking to make it more neutral so buyers can see the potential rather than being put off by a striking colour choice.
It’s also worth thinking about the curb appeal as that will be people’s first impression of a property. Clear up the front garden, clean the door and windows, and make it look inviting.
Draw attention to any unique selling points
If there’s something unique or special about your property ensure that the description and images showcase this. You want your property to stand out from other similar ones in the local market. And think about who your ideal buyer is. If you’re selling a family home then highlight it’s proximity to local schools. If it’s an apartment then make sure you highlight any amenities you may get from the complex like a gym.
Sell to a cash buying company
While it might be tough to seek out a cash buying company it’s worth thinking about any offers you may get from them. While an offer may be slightly under the market value there will be no estate agent or legal fees to pay, and as they have the funds available immediately you’ll be able to sell your home fast. In some cases in as little as seven days after valuation.
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20 responses to “How To Sell Your Home Fast In The Current Climate”
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Rhian Westbury
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This is great advice, We have just had our house valued but thankfully we are not thinking of selling. It has increased in value which is great to hear but the house opposite has been on the market for a really long time and is actually bigger than ours.
I think we will hold out for a few more years and hope things pick up x
That’s great news that yours has increased in value x
The market here hasn’t been great for anyone really, our cases are surging and unemployment is very high. The nice thing out working on curb appeal is that it will look good for anyone.
I am actually in the process of buying my second property taking advantage of the stamp duty reduced amount. Lovely tips
Wow that’s amazing, a second property is just a distant wish for me haha x
We were going to move, especially with the stamp duty holiday. But we’ve chosen to stay put, it’s just easier for us. We do know our house is holding it’s value though, which is good considering we bought a new build.
Yeah it’s weighing up whether it’s the right thing at the moment, and some people have been upping prices so it ends up costing just as much as it would have with the stamp duty x
I haven’t heard of a cash buying company before but they sound a good option if you want a quick sale without fuss. Mich x
Yeah my brother and his fiance sold their flat to one and it could have gone through as quick as a few weeks x
This is a really helpful post for anyone trying to sell their home right now. It must be a tough situation for many.
These are great tips indeed, my husband’s boss has got his sale stuck this minute so I know he would appreciate reading this post
Maybe it’s a buyers market where you are, but here it’s a sellers market! It’s crazy how fast houses are getting snapped up! We were hoping to snatch a rental property but the market is crazy right now!
It’s crazy how different places are, houses are quite expensive around our area so maybe that’s why they’re not all being snapped up quickly x
The housing market is very strange at the moment. My mum is trying to move but it’s taking months for everything to go through.
This is really useful information. We were lucky and sold our house very quickly when it was for sale, unfortunately that sale ended up falling through but the next person to view it, bought it thankfully
That’s lucky that you got another buyer quite quickly x
Some great advice here. A friend of mine put her house on the market smack bang on the middle of the national lockdown and she sold it for 10% more than the asking price within 3 days!
We really wanted to move this year but the pandemic has hit us hard finiancially. I know people are waiting to buy houses in our area but we can’t make the jump up š
I’m so sorry to hear that, hopefully 2021 will bring you some better financial luck x
I know so many selling and buying at the moment. If certainly is a buyers market. The key is the pricing. Some get greedy and over price and then wonder why their property won’t sell.