The average time it takes to sell a home in the UK is 4.2 months. Remember, that’s just the average! Some properties stagnate on the market for months without so much as a single viewing. It very much depends on the appeal of the property itself within your local market, and of course the quality of the estate agent, as to the true time it will take to sell your home.
All the while, you just want to get going. Whether you are moving into a new property or are trying to sell an investment property, the long wait can feel very frustrating
So what’s the hold-up? Here are just some of the main processes involved when selling a property to explain why it’s never an overnight process.
The value of your property needs to be assessed by an estate agent. As well as the condition of your property itself, they will also need to research the value of properties in the wider area to arrive at an appropriate figure.
The actual valuation itself can take between 1-2 hours to complete, though it can take anywhere up to a whole week to hear back on their findings. If you aren’t happy with the valuation you received from a particular agent and want a second opinion, you’ll have to go through the whole process again.
The estate agents will need to return to take photographs of your property and do a write-up. In some cases, this will be done during the viewing itself. But if you’ve simply requested a valuation, it’s unlikely both will be done at the same time.
Your property will then appear on your estate agent’s website, in the window of their branch (if applicable), and possibly in local newspapers. It very much depends on the individual estate agent as to how much attention they give your property. Some will put your home pride of place on their website and social media. But if it’s a national chain, your property will be competing against thousands of other properties for attention. If so, the process can drag on for months, especially if the write-up and photographs don’t do your property justice.
Very few people will purchase a home without viewing it first (known as buying blind). Understandably, this is because investors and homebuyers alike want to understand the condition of the property, and how much it will cost to bring it up to their desired standard.
For each viewing, you will need to arrange a time that’s convenient for the interested parties to tour the property. Although there’s such a thing as open house viewings, usually the viewings will be private, meaning a separate time slot is needed for each interested party.
There could be hours, days, weeks or even months in between viewings, depending on the appeal of your home and how well it has been marketed. If your estate agents aren’t local or proactive in nature, they are unlikely to be encouraging viewings which will slow down the process even more.
It is unusual to receive an offer for the full asking price just like that. Instead, you’ll often have to go through negotiations based on what the buyers are willing to pay, and what you are willing to sell the property for.
Given property is the most expensive asset any of us will ever own, such negotiations aren’t taken lightly. If both parties can’t agree, one may drop out, sending you straight back to square one.
When moving home, several legal processes need to take place, not to mention surveys about the condition of the property. On average, it can take between 8 and 12 weeks from first instructing a conveyancer until the time in which the new owners move in.
Not only can legal professionals not be rushed, but they can be extremely expensive to deal with too. If there are any complications with the legalities of the move, it could take far longer than expected to process the sale.
In order to move, you have to have a clear out of anything you don’t want to take with you, put excess items into storage and pack everything up. Depending on the size of your property and the number of possessions you’ve collected over the years, this could take weeks to organise properly.
Plus, you’ll need to find a removal team who are free at the exact time you want to move. There may be further holdups to align your schedule, especially if you live in a remote area where you don’t have many companies to choose from.
Sell My Home Fast UK
If you’re in a hurry to sell your house quickly, Cash Property Buyer might be able to help you. If your home meets our criteria, we can complete the entire process in as little as 7 days! We’ll give you a free valuation and we won’t charge any legal fees.
Simply tell us your postcode along with some information about your property to get started. We’ll send you an offer within 3 working days. Selling your home fast is as simple as that!