According to one of the leading online estate agency platforms, Zoopla, it takes an average of four months to sell a house in the UK nowadays. They should know. After all, Zoopla and Rightmove track the majority of British house sales at the moment. Once an estate agent starts marketing a home on their platforms, it takes weeks to attract a buyer. After that, homeowners need to negotiate a deal and then wait for all the paperwork to be completed. This would include the buyer’s mortgage deal, their structural survey and their solicitor’s searches among other things. It all adds up. And what you are left with is a four-month wait.
Importantly, Zoopla’s data shows that the time it took to sell a house in the early part of 2021 was up from previous periods. In other words, homeowners took less time to sell their houses, on average, in 2020. The stamp duty waiver that the Chancellor brought in as an emergency measure in the pandemic may account for part of this. So, it could be that the average time it will take to sell a house in 2022 comes down and continues to normalise. What are the factors that might speed up the sale of your house?
Firstly, if you want to sell a house when the market is buoyant, it should take less time than when there are fewer buyers around. Don’t draw yourself into thinking that it is all down to the market, however, because it isn’t. People still need to come and view your home for it to sell. When the market is moving up, it takes an average of nine viewings to find a buyer. Nevertheless, even when the market is stagnant or even falling, you can expect an average of 11 viewings to occur. In other words, it doesn’t make a huge difference.
Where market conditions come into play is with asking prices. Remember that all homebuyers are price sensitive. So, you need to market your home at a price that truly reflects the local conditions for it to sell. If you want a high price or would like to hold on for the ceiling price in your area, then it will take more viewings to sell. It is as simple as that regardless of the state of the market more generally.
When you sell a house, there isn’t much you can do about your buyer’s solicitor. Don’t assume that all legal representation is the same, though. Appoint a trusted firm of conveyancing solicitors who have a proven track record of undertaking their work efficiently. A good solicitor will help to speed up the sale of your house by prompting all the other parties involved regularly. This might include other solicitors, mortgage brokers and even surveyors when needed. Indeed, a good solicitor could shave a couple of weeks off the time it takes to complete.
When selling your home and aiming for a quick sale, it is good to take some control of the process. To this end, you should have somewhere lined up to go as soon as the sale is agreed. This way, you will be able to complete without causing any needless delays. Remember that you do not have to buy your next home to complete a chain. Consider renting for a few months instead and becoming a cash buyer with your equity. This will not suit everyone but it can make the whole process that much quicker and less of a mental strain.
What to Do When You Have Sold Your Home
Once your house sale has been sorted out – whether it took you longer or shorter than the average timeframe – contact Volition Removals. We are ready to provide you with a wide range of moving day services including our exceptional handling of rare and precious items, such as art and antiques. Why not drop us a line today?