How to Sell Your Home Quickly Without Sacrificing Profit?

The process of selling a house in the UK often becomes complicated because of the legal complexities and market fluctuations. These issues make the completion of sales difficult unless you consider taking valuation from professionals.

If you are one of those who go online and search ‘how to sell my house’ only to get overwhelmed by the complicated proceedings mentioned here and there, you are in the right place. In this blog, we are going to explore the detailed process of selling a house in the UK and how long it takes to sell a house.

How Long Does It Take to Sell a House?

It may take several weeks to sell your house in the UK. The efficiency of the buyer’s and seller’s agents comes into play while selling a house quickly in the UK. Ultimately, the market in the area where your property is located regulates the process of selling.

How to Sell Your House Quickly: Key Steps

You can sell your house easily if you know how to approach the property market. In September 2024, the gross number of housing transactions amounted to 92,000 in the UK, while 80,000 of those properties were sold in England alone. These figures show that people can successfully sell their property despite market fluctuations and property chain disruptions.

Here are the essential steps which you might need to go through while selling your house quickly.

Get a Valuation Beforehand

You need an estimated idea of how much your house is worth and what would be the cost of selling a house. Getting a valuation will also help you understand how much money you will have after paying the mortgage.

Hiring a Professional and Experienced Real-Estate Agent

Hiring a professional real estate agent is highly important to sell your house to get the best valuation. You need to hire a real estate agent depending on factors like success rate, selling price achievement, and reputation.

Deciding the Price

This is the most crucial decision you need to make in the entire process of selling your house. A quick research about the local real estate market will guide you to determine the best price possible for your house. However, you may deal with buyers who will negotiate with the price that you initially offer. So, set your price in such a way that leaves room for negotiation.

Decluttering and Making Minor Repairs

Staging your home before selling will increase the chances of sale and make the house more attractive to the buyers. Decluttering and minor repairs for the house will eventually enhance the visual appeal of your house. However, many online house-selling platforms take care of these issues once you list your property on their website.

Hiring a Solicitor

Legalizing the transfer of ownership of the properties is key to ensuring a smooth sales process. It is a good option to get an overview of the conveyancing firms in the UK or hire a solicitor recommended by your real estate agent.

Accepting a Suitable Offer

Remember that it is best not to accept the first offer that comes. Do not rush in accepting offers to sell your house quick. Evaluate your options. Once you are content with the offer, you need to formally accept it with assistance from your real estate agent. And always, always keep in mind: if something looks too good to be true, it probably is.

Opting for Cash Sales or Quick Selling Options

To achieve a faster closing and increased certainty of the sale going through, you need to choose a cash sale of your house. Moreover, with cash sales, you do not have to do extensive paperwork as it removes the need for mortgage approval applications. You can find interested buyers who are willing to pay you cash for the house. In 2023, every one in three house buyers in the UK would prefer to pay for the property in cash. However, only experienced real estate agents who know the cost of selling a house in the UK can pull off these kinds of deals.

Making Smart Negotiations

Ideally, it takes 7 to 28 days between exchanging the contracts and completion of sales. Drafting the contract will require both you and the potential buyer to decide on any fixtures or discounts that could be included in the contract.

Exchanging Sales Contracts

Now, with the exchange of contracts, you become legally liable to sell the house to the buyer and vice versa. However, until the deal goes through, you are still the responsible party to take care of your property.

Completing the Paperwork and Sales Process

You need to move out before the predetermined dates of property handover. After the contract is exchanged and you receive the cash payment, you need to hand over the key to the buyer. In this phase, your solicitor will register this change of ownership with the Land Registry. Furthermore, you will also be asked by the mortgage company to pay off the outstanding mortgage amount on the day the sale is completed.

Common Challenges You May Face While Selling a House in the UK

Selling a house in the UK can be challenging because of complicated paperwork issues, extensive mortgage approvals and unsettled legal issues. To sell a house quickly, you must address these issues, as failing to meet these problems can delay the transaction.

Chained Property Sales

Selling chained properties has imposed an influential challenge in the path of selling a house quickly in the UK. Real estate agents need to communicate closely to monitor chained houses and give importance to chain-free buyers.

Buyers Offering Low Price and Hesitant in Negotiation

Another key challenge to selling your house quickly is the buyer’s reluctance to negotiate and stick to a low price. To avoid this, make sure the price you have set is competitive considering the current market.

Slow Market Conditions

The slump in the property market is also a significant factor that can affect the pricing of your house. Fluctuations in interest rates and increases in conveyance fees lead to a disrupted housing market. Therefore, to deal with it, you may be required to accept lower valuation offers. This will reduce the pricing, but you will have your house sold faster.

Mortgage Complications

A buyer can pull back even after accepting the initial offer if they do not manage to achieve the mortgage approval. In 2023, around 10% of failed property sales were because buyers could not secure a mortgage approval.

Using our service, you eliminate the issue of dealing with lenders as we will communicate with them and find a mutual solution.

Cost of Selling a House in the UK

The cost of selling a house in the UK depends on several factors. But the most important of them is the fee for real estate agents, which will cost you depending on how much money you are getting from the sale of your house. Here are the main factors that impact the cost of selling a house in the UK.

Real Estate Agent Fee

You will have to bear around 1% to 3% of the price your house sold as the estate agent’s fee. This will charge you the maximum when it comes to the cost of selling a house in the UK.

Conveyancing Fee

The conveyancing fee incorporates all the legal charges that you will incur during the process of selling a house​.

Remortgaging Cost

To steer clear of paying any repayment charge, you need to wait before applying for a remortgage. You can expect to pay a hefty amount as the cost of remortgage to get an appealing rate.

Buying and Selling Your House: Things You Need to Know

Before selling your house, you need to keep in mind that the property market in the UK slumps down at certain times of the year. So, it is best to consult with your real estate agent about the right time of selling your house in the UK. Alongside this, there are other several factors that you should keep in mind.

What is the Best Time to Sell Your Home?

Many consider spring to be the best time to sell your house, as the real estate market becomes more active during this time. During this time, buying and selling houses in London and other UK cities became easier due to the increase in property demands.

EPC (Energy Performance Certificate)

You need to have an EPC before selling your home in the UK, which ensures the energy efficiency of the rating of your home. You must provide this certificate to the potential buyer before the completion of the sales.

Check for Defined Property Boundaries

You have to make sure that your property has a determined boundary and proper fencing. Your solicitor will also look for the boundary within the property and related paperwork.

Conclusion

In final words, the process of selling a house in the UK can be complicated, but with the right assistance, you can sell your property quickly without much hassle. While availing of our service, you do not have to think about the paperwork and legal compliances. Moreover, you do not have to make any repairs or fixes before you sell your house, as we will take your property as-is.

Once you find the right professional guidance, you will find that selling a house quickly in the UK is easy, and that too without losing on profit. So, do not hesitate to communicate with us before selling your house in the UK!