Selling your property: a guide to quick house sales in the UK

The property market is changing. The traditional world of estate agents has a new challenger, and now people have a much easier option. Selling your house is famously one of life’s most stressful times, and the average Brit will move five times in their life. Why make it more challenging than it needs to be? When you need to sell your property, sometimes waiting isn’t an option.

What’s wrong with traditional house-selling?

Estate agents have certainly got the know-how, but using them also has some pretty big downsides.

It takes time. Sometimes quite a lot of it. According to a report by Post Office Money Mortgages, the average UK property takes about three months (96 days) to sell. That’s a lot of stressful thumb-twiddling.

Things fall through. People get cold feet and some sales just never happen. Based on research by Quick Move Now, the average proportion of UK house sales falling through at the start of 2018 was nearly 40%.

There are estate agent fees. They tend to charge between 1-3% of the sale price, and with the average UK house price currently at £243,583, a 2% fee would be nearly £5000. You could be spending that money on a nice holiday.

There are legal fees, too. You’ll need the help of a solicitor to sell your property, and this doesn’t come cheap. Fees tend to range between £850-£1500 depending on the complexity of the sale.

You need to pay for repairs. Nobody will want your house if it’s got broken bits. Every house seller has to cover the costs of repairs and cleaning before the property is ready for the market.

How to sell your property fast

Fortunately, selling your house the old-fashioned way is no longer your only option.

Quick house sale companies are willing to buy your property at a moment’s notice, and they’re ready to pay you in cash. Their offers will tend to be around 75-85% of your property’s market value, but you avoid all the fees and stresses that come with more traditional methods. 

There are lots of situations where you might need to sell your house quickly. Perhaps you’re changing job or moving country and you don’t have time to go through estate agents, or maybe you’ve found your dream house and you need to act fast. You may have realised that your property is proving rather difficult to sell (e.g. because of bad neighbours or a flooding risk), but a quick house sale company will be more than happy to take it off your hands.

Benefits of fast house-selling

So why should you choose to use a quick house sale company?

No fees. That 1-3% rate typically charged by estate agents doesn’t apply here. A company buys your house and you owe them nothing in return (except the house).

You save on legal costs. Instead of having to pay the standard £850-1500 in solicitor fees, the quick house sale company will cover them for you.

It’s quick and easy. You know that three-month average house sale time we mentioned? Most quick house sale companies are able to complete the whole transaction within seven days, so it’s ideal if you need cash fast. Some companies will give you an offer in 24 hours and can fast-track the urgent cases in just 48 hours. It’s house-selling at breakneck speed.

You avoid being part of a ‘buying chain’. There’s no  relying on someone to buy their next home so that you can buy their old one. ‘Buying chains’ get weak links and then house sales fall through, but there’s rarely any falling through here.

No need for new decor or repairs. It doesn’t matter how terrible your wallpaper is or how old your carpets are; a quick house sale company will buy your property as is.

Tips for selling a house quickly

We’ve got some pointers for you to follow. Stick to these and your speedy house sale will be as sensible and secure as possible.

Don’t just rely on their valuation. Obviously any quick house sale company will need to put a valuation on your house so they can give you an offer. But how do you know their valuation is accurate? We recommend that you get valuations from three different estate agents before you deal with any quick house sale company. Using a combination of high street and online estate agents will also help you get a more accurate idea of your property’s value.

Check the credentials. If a quick house sale company is worth its salt, it’ll be a member of the National Association of Property Buyers (NAPB). The NAPB was created in 2013 to set higher standards in the quick house sale market. Members have to adhere to a particular code of conduct, so they will offer a much better service than most non-members.

Be smart. Make sure you read any agreement fully before you sign anything, and don’t feel pressured to rush. Never accept verbal assurances; getting everything in writing is essential. If they make an offer on your property, you are more than entitled to negotiate a higher price.