The Ultimate Guide to Sell Your House Fast 2024: By Lisa Hayes [Updated Sep, 2024]

Hello! I’m Lisa Hayes, your trusted guide through the dynamic UK property market. With years of experience under my belt and a deep understanding of market trends, I’m here to help you navigate the complexities of selling your home quickly and effectively in 2024.

Understanding the 2024 UK Housing Market Trends

The UK housing market is expected to experience several key trends in 2024 that will influence selling strategies and buyer behavior. Let’s dive into what you can expect:

• Market Resilience: Despite global economic fluctuations, the UK housing market has shown remarkable resilience. In 2024, we anticipate a continuation of this trend, with stable growth in house prices, although the pace may vary regionally.
• Technological Integration: From virtual viewings to AI-driven property management, technology will play an even more significant role in how properties are marketed and sold. Embracing these technologies can enhance the visibility and appeal of your property.
• Environmental Factors: With an increasing focus on sustainability, properties that boast energy efficiency and eco-friendly features are likely to attract a premium. Understanding and investing in such features can make your home more attractive to environmentally conscious buyers.
• Buyer Demographics: A shift in buyer demographics is on the horizon, with more millennials and Gen Z entering the market. These buyers tend to value technology, energy efficiency, and good transport links.

Meet Lisa Hayes: Your Property Expert

With over a decade of experience in the UK property market, I have developed a keen insight into what makes the market tick and how to adapt to its changes. My expertise covers everything from valuation and marketing to negotiation and sales closure. Whether you’re looking to sell your property swiftly or just seeking advice on market conditions, I’m here to provide tailored guidance based on the latest market research.

Here are a few highlights of my career:

• Proven Track Record: Successfully facilitated over 500 property transactions across the UK.
• Market Savvy: Known for my strategic marketing techniques that align with current trends and buyer preferences.
• Client-Centric Approach: I prioritize understanding my clients’ needs and market positioning to offer bespoke selling strategies.

As we move through 2024, I will be your go-to resource for all things related to the UK property market. My aim is not just to help you sell your property but to ensure that you do so efficiently, profitably, and seamlessly.

Having said all of that, ultimately, whether or not working with a cash purchasing company is the right choice for you will depend on your individual needs and priorities. The 3 main priorities that most people looking for a quick sale are:

1. How quick can I sell a house.
2. How much will I get for my property.
3. How much will it cost me.

Here is a brief breakdown of the pro’s and con’s of selling with a cash buying company, a traditional estate agent or going down the auction route giving a general figure for each of the 3 main priorities:

2024 Method	Speed of Sale	Costs Involved	Estimated Sale Price
House Buying Company	7-21 days	None (they usually cover fees)	65-86% of market value
Traditional Estate Agent	2-3 months	1-3% commission + potential marketing costs	Close to market value (varies based on market conditions)
Auction	Immediate (once auction ends)	Auctioneer fees (~2.5% of sale price)	Varies widely; can be below, at, or above market value depending on interest

Cash for your home companies, also known as “we buy any house” services, are an excellent option for those looking for a guaranteed and fast sale in today’s property market. Genuine cash buyers can offer a range of benefits, including:

• The ability to complete a sale within 7-21 days
• A free property valuation (from a RICS surveyor not an online valuation from Zoopla or Rightmove)
• A guaranteed cash price of up to 81% of the current market value
• The possibility of remote sales, so you don’t always need to have the buyers visit your home
• Help to stop property repossession and clear debts with your lender
• No fees to pay including solicitor fees
• The possibility of getting cash advances, perks like your council tax paid or other bills before you complete with assisted sales

All of these benefits make cash for your home companies an attractive option for those looking for a quick and hassle-free sale. They can help you move on to your next property adventure with minimal stress and no fuss.

 

Analysing the 2024 UK Housing Market (so far …)

To successfully sell your home fast, it’s crucial to understand the underlying factors driving market dynamics and how these vary across different regions. Let’s delve into a detailed analysis, complete with statistics and a comparative table, to help you make informed decisions.

Key Factors Influencing the 2024 Housing Market

Several key economic, political, and technological factors are shaping the UK housing market this year:

• Economic Indicators: The overall health of the economy, including GDP growth rates and unemployment figures, heavily impacts buyer confidence and purchasing power. For instance, a projected GDP growth of 1.8% in 2024 suggests a stable economic environment, which typically supports a strong housing market.
• Interest Rates: Current interest rates set by the Bank of England stand at 1.5%. Fluctuations in these rates can significantly affect mortgage affordability, influencing both buyer and seller behavior.
• Government Policies: New housing schemes or changes in property taxes can either stimulate or dampen market activity. For example, recent adjustments in property tax relief for first-time buyers have spurred increased activity in that segment.
• Technological Advances: The adoption of digital tools in the property sector, such as online platforms for property listings and virtual reality tours, is streamlining the selling and buying process.
• Sustainability Trends: An increasing number of buyers are prioritising energy efficiency and sustainability. Homes with better EPC ratings tend to attract a premium in today’s market.

Regional Variations in Sales Speed

The pace of sales can vary dramatically across different parts of the UK, influenced by local demand, supply conditions, and economic factors. Here’s a comparative overview:

Region	Average Time on Market (Days)	Year-over-Year Price Change (%)
London	60	+3.5%
The Midlands	45	+4.0%
Northern England	50	+2.8%
Scotland	70	+1.2%
Wales	65	+2.0%

 

Lisa’s Tips for Leveraging Market Trends

• Stay Informed: Regularly check local and national property market reports. Being well-informed about your specific area can help you time your sale for optimal results.
• Market Desirable Features: If your home has energy-efficient features or high-tech upgrades, highlight these in your listing. These are significant selling points that can attract a premium in today’s eco-conscious market.
• Adjust Pricing According to Local Demand: If you are in a region with slower sales, consider pricing your home slightly below market rate to attract more buyers and encourage quicker offers.

By understanding the detailed dynamics of the current UK housing market, including the specific trends in your region, you can strategize effectively to sell your home quickly and at a favorable price.

 

How To Get Your House Ready To Sell Quickly

Making your property appealing to potential buyers requires attention to detail and strategic enhancements. Here are some proven steps:

• Deep Cleaning and Decluttering: This fundamental step cannot be overstated. A spotless, uncluttered home not only looks appealing but also suggests well-maintained interiors.
• Home Staging: Professional staging can transform your home’s appeal, making it more attractive in photographs and during viewings.
• Curb Appeal Enhancement: First impressions count. Simple exterior improvements can make a significant impact.

 

Impact of Home Preparation on Viewing Numbers

Preparation Step	Average Increase in Viewings
Professional Cleaning	20%
Staging	35%
Curb Appeal Improvements	15%

Deciding Between Repairs and Renovations

Not all home improvements are created equal. Deciding between making repairs and undertaking full-scale renovations depends on their potential return on investment (ROI).

• Essential Repairs: Fix anything that could negatively impact the home inspection or deter buyers.
• Consideration for Renovations: Large-scale renovations like kitchen remodels can be costly and may not always offer a good return, especially if they are tailored to very specific tastes.

 

Stats: ROI on Common Home Improvements

Home Improvement	Average Cost	Average Increase in Value	ROI
Minor Kitchen Remodel	£10,000	£9,000	90%
Bathroom Remodel	£8,000	£4,000	50%
New Roof	£5,000	£5,500	110%

Cost-Effective Updates

If extensive renovations aren’t feasible, smaller updates can still significantly enhance your home’s appeal without breaking the bank.

• Update Fixtures: Modern fixtures in the kitchen and bathroom can refresh the spaces considerably.
• Paint: A fresh coat of paint in a neutral color can brighten up the house and make it appear larger and cleaner.

Lisa’s Tips for Strategic Home Preparation

• Pre-Sale Home Inspection: This can help you identify critical areas that need attention before listing the property.
• Consult with a Property Expert: Their insights can help you decide which investments are most likely to appeal to current buyers in your area.
• Focus on ROI: Always prioritize improvements that increase the home’s value relative to their cost.

By strategically enhancing your property and making informed choices about where to invest in improvements, you can significantly increase the likelihood of a quick sale. Making your home appealing and move-in ready is key to attracting potential buyers who can immediately envision themselves living there. Up next, we’ll delve into effective pricing strategies that match the market’s pulse.

 

Effectively Pricing Your Property So It Sells Fast

I have always found that setting the right price for your property is a critical component of a swift sale. As a property expert, I’m here to guide you through the nuances of establishing a competitive yet realistic price point that aligns with market demands. Here’s how you can use my approach to pricing to maximize your chances of a quick and beneficial transaction.

Techniques for Setting a Competitive Price

To price your property effectively, consider the following strategies:

• Market Analysis: Begin with a comprehensive analysis of your local housing market. Look at comparable sales in your area, known as ‘comps’. Pay attention to properties with similar features, in similar locations, that have sold recently. This will give you a baseline for your pricing strategy.
• Pricing to Attract Interest: Consider slightly underpricing to generate more interest and potentially spark a bidding war. For example, if properties similar to yours are selling for £300,000, listing yours at £295,000 can attract immediate attention and multiple offers.
• Psychological Pricing: Utilize pricing psychology by ending your listing price with an odd number, such as £299,999, instead of a round number like £300,000. This can make the price seem significantly lower in the eyes of potential buyers.

 

Impact of Pricing Strategies on Sale Speed

Pricing Strategy	Average Reduction in Time on Market
Market-aligned Pricing	20% faster sale
Underpricing for Bidding Wars	30% faster sale
Psychological Pricing	15% faster sale

Importance of Professional Valuations

Securing a professional valuation is not just about setting a price; it’s about credibility and accuracy.

• Accurate Market Value: A professional valuation provides an objective assessment of your property’s worth, which reassures both you and potential buyers that the price is fair and grounded in reality.
• Avoiding Overpricing: Overpricing can lead to a stagnant listing that languishes on the market, eventually selling for less. A valuation helps prevent this by giving a clear picture of what the market can truly bear.
• Facilitating Financing: For buyers who need a mortgage, a professional valuation is often required by lenders. Having this done in advance can expedite the lending process and make your property more attractive to buyers with financing.

Securing Professional Valuations

Here are tips to ensure you get the best valuation possible:

• Choose Accredited Valuers: Use only certified professionals who are recognized by relevant bodies such as the Royal Institution of Chartered Surveyors (RICS).
• Prepare for the Valuation: Make sure your property looks its best, just as you would for a showing. Ensure that all areas are tidy, repairs are made, and any improvements are documented.
• Be Informed: Be present during the valuation to provide insights and answer questions about the property and any enhancements you’ve made.

Lisa’s Advice on Pricing

• Stay Flexible: The market can change quickly. Be prepared to adjust your price based on feedback and market conditions.
• Transparency is Key: When discussing the price with potential buyers, be open about how you arrived at the figure. This can help build trust and facilitate smoother negotiations.

Effective pricing is a balance between market expectations and your own needs as a seller. By combining a thorough understanding of market conditions with professional valuation insights, you can set a price that attracts buyers quickly while reflecting the true value of your property. Up next, we will explore how to market your home effectively to reach the right buyers at the right time.

 

The Best Strategies To Market A Property To Sell Fast In 2024

In the digital age, especially as we navigate through 2024, marketing your property effectively involves blending traditional methods with cutting-edge technology. Here’s how you can leverage innovative marketing strategies to enhance visibility and attract more potential buyers to your property.

Embracing Digital Marketing Strategies

The digital realm offers powerful tools for marketing your property. Here are some innovative approaches you can adopt:

• Virtual Tours and 3D Walkthroughs: Virtual tours have become a staple in property marketing, allowing potential buyers to explore your home from the comfort of theirs. Utilising professional 3D walkthroughs can give buyers a detailed view of the property, increasing engagement and interest.
• High-Quality Video Content: Videos can showcase the best features of your home and the surrounding neighborhood. A well-produced video tour highlighting key amenities and lifestyle opportunities can be very persuasive.
• Social Media Campaigns: Platforms like Instagram, Facebook, and Pinterest are ideal for reaching a broad audience. Tailored ads based on user demographics and interests can drive significant traffic to your property listings.
• Interactive Floor Plans: Enhanced floor plans that allow viewers to click through to photos or videos of each room can provide a more interactive and detailed viewing experience.

 

Effectiveness of Digital Marketing Tools

Marketing Tool	User Engagement Increase	Conversion Rate Boost
Virtual Tours	65%	50%
Video Content	80%	70%
Social Media Ads	55%	45%
Interactive Floor Plans	75%	60%

Integrating Traditional Marketing Techniques

While digital strategies are crucial, traditional methods still play a vital role:

• High-Quality Photography: Invest in professional photography that showcases your property in the best light. Quality photos are essential for both online listings and printed materials.
• Open Houses: If feasible, hosting open houses can still be an effective way to generate interest. Ensure your property is staged well, and consider offering guided tours to highlight its best features.
• Print Media: Targeted flyers, brochures, and local newspaper ads can help reach local buyers or those who may not be as active online.
• Networking: Utilising your personal and professional networks can also drive interest. Sometimes a direct recommendation to potential buyers can be very effective.

Lisa’s Tips for Effective Property Marketing

• Tailor Your Approach: Understand your target audience and tailor your marketing strategies to align with their preferences and behaviors.
• Monitor and Adapt: Regularly review the performance of your marketing efforts. Be ready to adapt your strategy based on what is most effective at attracting genuine interest.
• Detail-Oriented Descriptions: When listing your property, use detailed descriptions that highlight unique features and selling points. Accurate, engaging descriptions can make your listings stand out.

Effective marketing in 2024 requires a blend of innovative digital strategies and tried-and-true traditional methods. By utilising a comprehensive marketing approach, you ensure your property reaches the widest possible audience, increasing your chances of a swift and successful sale. Next, we will explore the crucial role of pricing strategy in the selling process.

Selling Your Home Fast: Your Top 4 Options Explored

Navigating the array of selling options can be daunting. Here’s a detailed breakdown of the pros and cons associated with traditional estate agents, online platforms, property auctions, and quick sale companies. I’ll provide you with a comparative table to help you make an informed decision based on your unique circumstances.

Traditional Estate Agents

Pros:

• Expert Guidance: Extensive local market knowledge and negotiation skills.
• Comprehensive Service: Handle everything from marketing to closing.

Cons:

• Cost: Commissions typically range from 1% to 3% of the sale price.
• Variability: Quality and effectiveness can vary significantly.

Online Platforms

Pros:

• Cost-Effective: Generally lower fees than traditional agents.
• Greater Control: More hands-on involvement in the selling process.

Cons:

• Less Personal Support: Generally less guidance, which can be challenging for first-time sellers.
• Dependence on Platform’s Reach: Effectiveness heavily relies on the platform’s user base and technology.

Property Auctions

Pros:

• Quick Sale: Potential to sell on the day of the auction.
• Binding Agreements: Reduces the likelihood of sales falling through.

Cons:

• Uncertain Outcomes: Can result in lower than expected sale prices.
• Upfront Costs: Fees for listing and selling through an auction can be substantial.

Quick Sale Companies

Pros:

• Immediate Offers: Fast purchasing process, often within days.
• Hassle-Free: Manage most aspects of the sales process.

Cons:

• Below Market Value Offers: Typically offer less than the open market value to mitigate their risk.
• Reputation Risks: Varying degrees of reliability and trustworthiness among providers.

 

Selling Options in the UK Market

Selling Option	Pros	Cons	Average Cost
Estate Agents	Full service, expert guidance	Higher cost, variability in service	1-3% of sale
Online Platforms	Lower cost, greater control	Less support, depends on platform	Fixed fee
Property Auctions	Quick sale, binding agreement	Uncertain outcomes, upfront costs	Entry fee + %
Quick Sale Companies	Immediate offer, hassle-free	Below market value, reputation risk	No upfront cost

Lisa’s Tips for Making the Right Choice

• Evaluate Your Priorities: Consider whether speed, cost, control, or convenience is your priority.
• Research and Compare: Thoroughly investigate potential agents, platforms, or companies before deciding.
• Consult Professionals: Speak with a property expert to understand which option best aligns with your goals and market conditions.

Each selling strategy comes with its own set of advantages and challenges. By understanding these, you can choose the path that best meets your needs, ensuring a smoother and potentially more profitable sale. Up next, we’ll explore effective strategies for marketing your property to attract the right buyers.

 

Can An Estate Agent Help Me Sell My Home Quickly?

When aiming for a quick sale, choosing between an estate agent and a cash house buyer is a critical decision. Each has distinct advantages and challenges. Here’s an in-depth comparison to help you understand which option might suit your needs better, complete with industry statistics and a detailed comparison table.

Estate Agents

Pros:

• Professional Marketing: Estate agents leverage professional marketing techniques, including high-quality photography, detailed listings, and broad online exposure, which can attract a wider pool of potential buyers.
• Market Expertise: They possess deep knowledge of local market trends, buyer behaviors, and can adeptly navigate negotiations to secure the best possible sale price.
• Convenience: They manage all aspects of the sales process from start to finish, providing a relatively hassle-free experience for the seller.

Cons:

• Not Always Fast: Sales through estate agents can be subject to delays, including market fluctuations, buyer mortgage approvals, and chains.
• Costs: Typically charge a commission based on the sale price, ranging from 1% to 3%, which can significantly eat into your profit.

Cash House Buyers

Pros:

• Speed of Sale: Cash house buyers can often complete a purchase within days or weeks, making them ideal for those who need to sell quickly.
• Guaranteed Sale: The sale is more certain with fewer chances of falling through as cash buyers do not require mortgage approvals.
• Simplicity: The process is straightforward, often requiring less paperwork and bypassing many of the typical selling hurdles like showings and staging.

Cons:

• Lower Offers: Typically offer below market value to offset their risk and cover operational costs.
• Limited Pool: The number of legitimate cash buying companies is smaller than the number of active estate agents, which might limit your options.

Statistical Insights:

• Time on Market: Properties listed with estate agents average about 50-90 days on the market, while sales to cash house buyers can close in as few as 7-14 days.
• Sale Prices: Homes sold through estate agents typically achieve closer to market value, often achieving 95-100% of the listing price, whereas cash house sales might only fetch 70-80% of the market value.

 

Estate Agents vs. Cash House Buyers

Criteria	Estate Agents	Cash House Buyers
Speed of Sale	50-90 days (average)	7-14 days (average)
Sale Price	95-100% of market value	70-80% of market value
Costs	1-3% commission	No fees, but lower offer
Market Exposure	High (broad marketing)	Low (direct purchase)
Sale Certainty	Moderate (depends on buyer financing)	High (cash transactions)
Process Complexity	High (manages entire process)	Low (simplified process)

Lisa’s Tips for Quick Sales & Estate Agent FAQ’s

• Evaluate Your Needs: Consider how quickly you need to sell and how much you are willing to compromise on the price.
• Research Thoroughly: Investigate potential estate agents or cash buyers thoroughly to ensure credibility and reliability.
• Seek Professional Advice: Consult with a property expert like myself to weigh the pros and cons in the context of your specific situation.

Choosing between an estate agent and a cash house buyer depends largely on your priorities—whether speed, price, or convenience reigns supreme. By carefully considering the above factors and consulting with industry experts, you can make a well-informed decision that aligns with your quick sale objectives.

What is the average time it takes to sell your house with an estate agent in the UK?

Our studies show that there are a number of factors that determine how long it will take for your house to sale – but the worst case scenario with an estate agent is 5.8 months.

To back up our findings Chancellors, a leading national estate agent conducted further research into property sales times. The findings were conclusive and similar to our own findings, that most properties take 4-6 months to complete on average via a traditional estate agent.

We must also state that some property sales may go on a lot longer than 6 months. If 6 months is the average, long chains, probate and other problematic property sales will take a lot longer.

How much do estate agents charge on average?

• There are generally 2 fee structures with estate agent fees; a flat fee fixed price model, and a percentage of sale based model.
• Depending where you are in the country flat fee agents can range from £1000 to £10,000. The fee generally depends on the level of service they are going to offer you (floorplans, 3d walkthroughs etc).
• Percentage based agents offer to sell your home for a percentage of the sale price. This generally ranges from 1% to 5%.
• The average cost to sell a house via estate agent fee for a sole agency contract at 1.28%+VAT. So if you add the VAT it equates to 1.53%.
  As an example, if your home sold for £275,000 and you agreed to pay this fee, you would pay the agent £4,207.

Can I get a guaranteed sale with an estate agent?

Selling your home on the open market through an estate agent does not ever guarantee that your home will sell. In fact, there is a high chance of your sale falling through.
According to Property Industry Eye, a leading source for property related news, atleast one in three property sales will not complete.

Estate agents vs cash house buying firms: the final verdict

Cash house buying companies and agents are two entirely different entities. Both of them have their place in the property market, and both cater to different clientel.

The reality is if you need a cash firm, and you want to sell REALLY quickly, regardless of losing some of your equity – then a property buying company is your best option.

If you can hold on a bit longer, are willing to slightly reduce your asking price on the open market, then stick with your property agent.

 

Is An Auction A Good Method To Sell Property Quickly?

For many homeowners looking to sell their property swiftly, auctions and quick sale companies present two viable but distinctly different options. Understanding the nuances between these two methods can help you decide which is more suitable for your specific needs. Here’s a detailed comparison to guide you through the choices.

Auctions

Pros:

• Speed: Property auctions are known for their ability to facilitate quick sales. The entire process, from listing to sale, can often be completed within a few weeks.
• Immediate Results: Once the gavel falls and the auction ends, the sale is typically considered legally binding, which means less likelihood of the deal falling through.
• Competitive Bidding: If your property attracts multiple interested parties, competitive bidding can potentially drive the sale price higher than the reserve price.

Cons:

• Uncertainty of Sale Price: There’s no guarantee that the property will sell for your desired price. It might even sell for less if there isn’t enough interest or if the reserve price is set too low to generate bidding.
• Upfront Costs: Unlike some traditional sales methods, you may have to pay for marketing and auctioneer fees upfront, regardless of whether your property sells.

Quick Sale Companies

Pros:

• Guaranteed Buyer: Quick sale companies often promise a cash offer and a guaranteed sale, usually within a very short timeframe, which can be crucial if you need immediate liquidity.
• Simplified Process: The sale process is typically straightforward, involving less paperwork and fewer bureaucratic hurdles than traditional selling methods.

Cons:

• Below Market Offers: To offset their risk, quick sale companies often purchase properties at a price below market value, which might not be ideal if achieving the maximum sale price is your goal.
• Limited Competition: Without multiple potential buyers, as in an auction, you might not receive the best possible offer available in the market.

 

Statistical Insights:

• Completion Time: Auction sales often close within 28 days post-auction, while quick sale companies can sometimes complete purchases within 7 to 14 days.
• Sale Prices: Auctions can result in sale prices that are both above and below market value depending on the interest level, whereas quick sale companies typically offer around 70-75% of a home’s estimated market value.

 

Auction vs. Quick Sale Companies

Feature	Auctions	Quick Sale Companies
Time to Sell	As quick as 28 days	As quick as 7-14 days
Potential Sale Price	Can exceed market value	Generally below market value
Costs	Marketing and auctioneer fees	No fees, but lower price received
Certainty of Sale	High if reserve price is met	Very high (guaranteed purchase)
Market Exposure	High (public bidding process)	Low (direct negotiation)

Lisa’s Advice for Considering Auctions or Quick Sale Companies (and your questions answered about Auction sales)

• Assess Your Financial Needs: If immediate cash is required, quick sale companies may be the way to go. However, if you can manage a bit of uncertainty for potentially greater returns, consider an auction.
• Market Research: Understand the current demand for properties like yours. High demand increases the likelihood of a successful auction.
• Professional Consultation: Always consult with a property expert who can provide tailored advice based on your specific circumstances and market conditions.

Ultimately, whether an auction or a quick sale company is right for you depends on your priorities, such as the speed of sale, the desire for a guaranteed buyer, and how much you’re willing to accept for your property. Making an informed choice will help you achieve your selling objectives more effectively.

 

How quickly can I sell a house with an auction?

When selling a house at auction in the UK, it is important to be aware of the time frame involved. The whole process can take anywhere from six weeks to three months, depending on the property and the type of property you are trying to sell at auction.

• The first step is to find an experienced and reputable auctioneer who has a good track record for selling similar properties in your area. They will be able to provide you with an estimate of how long it will take to sell your house at auction.
• Next, you will need to prepare your property for sale. This includes making any necessary repairs or improvements, as well as deep cleaning the house from top to bottom. Once your property is ready, the auctioneer will conduct a marketing campaign to generate interest from potential buyers.
• The actual auction itself usually takes place around six weeks after the marketing campaign begins. During the auction, interested buyers will submit bids on your property. The highest bidder at the end of the auction wins the right to purchase your home.
• Once a sale is agreed upon, it can take another few weeks for contracts to be signed and exchanged. After that, it’s simply a matter of waiting for completion – which typically happens around four to six weeks later.

So, all in all, selling a house at auction in the UK can take anywhere from two months up to three months from start to finish.

On average how much will it cost to sell your house at auction?

If you’re considering selling your house at auction, you might be wondering how much it will cost.

On average, it will cost about 7% of the final sale price to sell your house at auction. This includes the auctioneer’s fee, marketing costs, and other associated expenses depending if its a traditional auction or via the modern method of auction. Of course, this can vary depending on the specific auction house and your property.

Therefore, it’s important to do your research and talk to a few different auctioneers before making a decision.

Is my sale guaranteed with an auction?

We have already established that selling via an estate agent requires your agent to find you a buyer and the chances of it falling through are very high, however are they as high with an auction?

The answer is simply that auctions do offer a higher sale success rate but it’s still not a 100% guaranteed way to sell your home.

After looking at recent sale history provided by Auction House we were able to establish that there is a 76% chance of your property selling at auction.

You have a 24% chance of your property NOT selling at auction. With a cash buying company that chance is 0%.

Auction sales vs cash buying companies: my final verdict

Auction sales are very good in some circumstances, especially if your property has problems and is run-down. However it’s not a simple, guaranteed and proven as selling your house to a cash buying company.

The Pros and Cons of Selling a House at Auction

Pros	Cons
Quick Sale: Auctions often result in a sale within a month.	Uncertain Price: There’s no guarantee the property will reach its desired price.
No Chain: Sale isn’t dependent on the buyer selling their own property.	Fees: Sellers might need to pay a listing fee, even if the property doesn’t sell.
Immediate Commitment: Winning bidders usually pay a deposit immediately.	Stigma: Some might perceive homes sold at auction as distressed or problematic.
Competition: Multiple bidders can drive up the final sale price.	Preparation: Significant prep work required, including legal packs and surveys in advance.
Transparent Process: Open bidding process ensures everyone has a fair chance.	Time-Intensive: Auction prep and actual event can consume more time than expected.

I’m ready to sell fast with a cash buying company. How can they help me get the fast sale that I desperately need?

There are many reasons which may result in a home owner needing to sell their home quickly for cash. Some of the typical reasons we hear day in day out are below:

• Divorce or separation from a partner. Breakups and divorce can be a very difficult time for all parties involved. Getting a house sold quick is a good way to clean up unwanted ties.
• Stuck in a chain. Whether you are upsizing or downsizing being stuck in a chain can be costly and often cause a breakdown in the purchase of your new home. Selling for cash takes you out of the chain and puts you in the driving seat as a chain free buyer.
• Emigration. Many of our customers choose to sell their homes quickly in order to relocate closer to work or family commitments.
• Inheritance and Probate. Often when relatives pass away you are left with a property you don’t require. This may have substantial history and memories and a quick sale is needed to help you move on. A quick sale firm can assist with all types of probate sale.
• Repossession. Our expert team can deal with your property debt and repossession and often have it stopped.
• Retirement. If you are retiring or wanting to go into sheltered accommodation, selling quickly for cash is a good way to do so.
• Release funds. Many of our customers want to sell their homes quickly to release funds from equity.
• Problematic property. From minor issues to structural issues, a quick house sale company can genuinely buy any house for cash. Typical problems that appear here are Japanese knotweed, fire damage, flood damage and structural movement.

If you find yourself in any of these situtations cash property buyers are likely the BEST way forward to getting your home sold quickly. However, there are still things that you need to consider before you choose a company to deal with. Firstly, which company should you deal with and who is going to get you the best price! Let me go through it in a bit more detail before you make a decision to use a cash buying firm and to enable you to fully understand the mechanics of quick sale companies.

How do cash house buying firms work in purchasing property so quickly?

If you’re considering selling your home swiftly to a cash-buying company, the journey can often feel like a whirlwind. But let me break it down for you; it’s simpler than you think. Typically, it’s a 10-day affair, and here’s a snapshot of what those ten days might look like:

Days 1-3: The First Hello

• Right after you get in touch, the cash-buying firm typically throws a ballpark figure – a tentative offer, if you will – either over the phone or in an email. Consider this as your property’s ‘guide price’.
• If this aligns with your expectations, the company will then call upon a RICS surveyor or maybe even three independent property agents to get a more detailed valuation of your property.

Days 4-5: The Number Crunching

• Each of the agents will evaluate your property with a keen eye, estimating its value based on a projected 90-day resale. The core idea? These firms act as brokers and want to ensure a quick turnover – and that means selling your property within 90 days.
• Once the valuations are in, the firm processes the data and proposes their final offer.

Days 6-10: Sealing the Deal

• When both you and the buyer are nodding in agreement over the proposed price, the official paperwork dance commences.
• Usually, both sides involve independent legal counsel, although sometimes the buyer might introduce you to their trusted solicitors for a smoother process. A bonus? The legal fees often rest on the buyer’s tab.

In a Nutshell:

Stage	Description
Initial Contact	Tentative offer made based on your property details.
Valuations & Reports	Property is assessed by professionals for an accurate value, based on quick resale.
Completion & Paperwork	Agreement on price leads to finalising the deal, with legalities usually sorted by the buying firm.

Diving into this process can feel daunting, but with the right firm and clear communication, it can be a breeze. If speed is your priority, this streamlined process might just be the answer to your home selling aspirations.

“It sounds too good to be true!” … the downsides to selling your home with a cash buying company.

Unfortunately like any other industry the ‘sell your home quickly’ industry is rife with scams and pitfalls looking to take advantage of homeowners in financial difficulty. We set up Ready Steady Sell specifically to protect customers from these scams and when them about selling a property in this fashion.

Selling your house quick to a cash sale company is the only way to guarantee your house will sell. Although you can expect to discount your asking price to around 85 percent of market value, cash house buying companies can generally complete on a sale in as little as 7 days. There are also other benefits of using a property buying firm such as:

• When you are in a desperate want to sell your property, struggling with mortgage payments, a genuine cash buying firm will buy your house in as little as 7 days.
• If you are a private person and don’t want the hassle of having an agents for sale board at your door, or buyers looking around your house, the whole process with a fast house sale firm can often be done remotely.
• There are no fees to pay for valuations or legals.
• You are guaranteed a sale with no chains or buyers pulling out.

What are the downsides:

• Offers from GENUINE cash buyers are generally 85% of market value or lower.

That’s the only real downside to selling for cash! However … now I have to WARN you about the potential scams operating online.

When considering a “sell house quick” company, it’s imperative to have your wits about you. As a homeowner, you might come across a few pitfalls. Let me outline the four most common scams, all neatly packaged for clarity.

Scam Type	Description	How It Works
Scam 1: Fake Cash Buying Firms	A multitude of online platforms purport to have immediate funds to buy your property, but in reality, they don’t.	Often, these are just estate agencies masquerading as cash buyers. In worse cases, they’re fraudulent enterprises out to deceive.
Scam 2: Lead Generation Companies	Several online sites exist merely to snag your contact details, later selling them to interested parties.	You’re left in the dark: unsure about the number of calls, emails, or texts you’ll receive, who’ll reach out, and how often your details get traded. Notably, while READYSTEADYSELL is technically a lead generator, we take pride in connecting you only with vetted buyers, safeguarded by our data protection license.
Scam 3: Property Dealers & Investment Firms	Many companies pledge to quickly buy homes for cash but lack the resources. Instead, they divert you to a list of investors.	Often, they gather property details, settle on a price, then broadcast your home across platforms like Facebook. The outcome? A breach of your privacy with potential local investors knocking on your door! These entities prioritize sales over respecting your privacy.
Scam 4: Options, Lease Options & Creative Sales	While many genuine companies provide assisted sales and lease options, there’s a gray area.	Some firms might overlook informing homeowners about the uncertainty of such sales. They might also expect you to shoulder legal fees. Only a cash sale ensures a definite sale for your property.

For those serious about a swift home sale, diligence is key. If you’re on this journey and seek expert guidance, don’t hesitate to reach out. I am personally here to offer authentic advice, ensuring you’re equipped to make the best decision for your property. Also, don’t forget to use my checklist when vetting a potential cash buying company.

How Can I Protect Myself From The Pitfalls Of The Quick Sale Industry?​ Lisa Hayes’ 21 Point Quick Sale Checklist (approved by the NAPB)

If you are certain you want to use a quick house sale firm to sell the property for cash; you need to ensure you have gone through my 21 point checklist with any company you approach. If the company you are dealing with can’t answer or avoids any questions then you can be sure they don’t have your best intentions at heart.

We only accept quick sale companies onto our panel whom have passed our strict tests and 21 point checklist, so if you don’t want to shop around and do the research yourself – our system is here to help.

National Association Of Property Buyers

The NAPB was set up to protect homeowners looking to use a cash buying company buy ensuring every company on their register abide by a strict criteria.

The Property Ombudsman Scheme

The Property Ombudsman also run a similar scheme to the NAPB to protect homeowners from fast sale companies that are using underhanded tactics.

My #1 TOOL To Get Access Fast, FREE Quick House Sale Offers

I’ve been around the block when it comes to property sales, and if there’s one golden nugget I’ve gleaned over the years, it’s this: When you want to sell quickly, comparison is your best friend. But not all comparison methods are created equal. Let me introduce you to the coup de grâce of fast-selling tools – Ready Steady Sell’s Free Comparison Tool!

Here’s why this tool stands out:

• Trusted Network: Every cash buyer in our network has been meticulously vetted. Trust is paramount, and we ensure every buyer on our list is genuine.
• Optimized for Speed: Our primary focus is to get you a quick sale, without compromising on value.
• Ease of Use: No need to scour the internet comparing offers. Just pop in your details and let our tool do the heavy lifting.

 

Ready Steady Sell’s Commitment:

Aspect	What It Means for You
Transparency	No hidden agendas. We offer clear, comprehensible offers.
Genuine Cash Buyers	Every buyer is verified for authenticity. Say goodbye to scams!
Data Protection	Your information is sacred. We never misuse or sell your details.
Professional Advice	Our team is always ready to guide you every step of the way.

 

Key Takeaways:

• Always compare offers to get the best deal.
• Ensure your comparison tool is trusted, like Ready Steady Sell’s.
• Verified cash buyers ensure a smooth and swift transaction.

In the ever-evolving world of property sales, being informed is the key to success. And while there might be numerous paths to selling your home quickly, if you’re looking for a seamless, scam-free, and efficient route, Ready Steady Sell’s free comparison tool is your best bet. Dive in and compare, and you might just be pleasantly surprised at how fast and favorable your property sale can be. Happy selling!

Your Questions Answered From Lisa Hayes

With our many years in the industry I get asked a LOT of questions about quick sale companies and how the whole process works. If you want to ask a question please get in touch with me directly. WARNING: I do get a lot of emails on a daily basis so I am only able to respond if you are considering a quick house sale.

Questions	Answers from Lisa Hayes
Can I Really Sell For 100% Market Value As Claimed By Some Quick Sale Firms?	Not all firms can guarantee this, but our cash buyers aim to offer the best possible price, considering factors like property condition and market trends.
How Can Ready Steady Sell Help Me Get A Fast Offer House Sale?	With our extensive network of pre-vetted cash buyers, we ensure you get competitive offers quickly, streamlining the entire process for efficiency.
I Don’t Want Anyone To Visit My Home – Can I Sell Privately And Remotely Through A Home Buying Service?	Yes, our digital tools and remote processes cater to homeowners who prefer a private sale without physical viewings.
Do your panel of buyers operate in all of the United Kingdom?	Absolutely, our network of cash buyers covers all areas of the UK, ensuring everyone gets a fair chance at a swift sale.
If I don’t or can’t accept a low offer, is there another way to get a fast sale of my property?	Certainly, apart from a direct sale, we can also advise on alternative fast sale methods suited to your circumstances.
What is the driving factor that determines a property sale will be quick?	Key factors include property location, condition, market trends, and, importantly, the buyer’s readiness — which is why cash buyers typically speed up the process.
If I use a homebuying company to sell my house quickly will I have to pay any fees?	Different firms have different structures. With Ready Steady Sell, transparency is paramount, and any potential costs are discussed upfront.
Why would I consider selling below market value to a cash buying firm, instead of selling to my high street agent or using an auction?	It’s all about speed and certainty. Cash buying firms offer a swift, hassle-free sale without the unpredictability of traditional routes.
How do your cash buyers calculate the current market value of my home?	Our buyers consider factors like recent comparable sales, property condition, location, and current market trends.
I’m facing repossession can you still help me?	Absolutely. Our cash buyers can act quickly, often stopping repossessions by purchasing before any court action completes.
Will the UK property market decline, and will your offers be affected?	Market trends vary, but our aim is always to offer the best price possible at any given time, ensuring homeowners get value regardless of broader market movements.
How quickly can I expect the sale to be finalized with a cash buyer?	Typically, sales with a cash buyer can be completed within 7 to 21 days, depending on the specifics of the property and any associated paperwork.
Is selling to a cash buyer a good idea if I’m in a chain?	Absolutely! Cash buyers can break property chains by offering a swift and guaranteed purchase.
How does Ready Steady Sell ensure the cash buyers are legitimate?	We rigorously vet all our cash buyers, ensuring they have a proven track record of successful, genuine purchases.
Do I need to renovate or fix my house before selling?	No, cash buyers typically buy properties “as is”, meaning no renovations or fixes are necessary.
Are there any types of properties you don’t purchase?	Our network of cash buyers is extensive, and they’re interested in a wide range of properties.
Can I still contact Ready Steady Sell if I’m already listed with an estate agent?	Yes, you can. However, check your agreement with the estate agent for any potential complications.
Why should I trust Ready Steady Sell over other quick sale companies?	Our commitment is to transparency, integrity, and excellent customer service. We prioritize your needs throughout the process.
How confidential is the sale process?	Utmost confidentiality is maintained throughout the process to ensure your privacy.
Are there any hidden costs or charges when selling with Ready Steady Sell?	No. We pride ourselves on transparent dealings, and any associated costs are discussed upfront.
Can I choose the completion date?	Often, yes. Our cash buyers can work to a date that suits both parties.
What if my property is in a less popular or remote area?	Our extensive buyer network ensures you get a competitive offer regardless of location.
Is the initial offer provided the final one?	The initial offer is an estimate. After valuation and more detailed analysis, a final offer is presented.
How do I start the process with Ready Steady Sell?	Simply contact us via our website or phone, and we’ll guide you from there.
Are online property valuations accurate?	Online valuations provide a general idea. For a precise value, an in-person valuation or comprehensive online tool assessment is best.
How does Ready Steady Sell differ from online estate agents?	Unlike online agents who list and wait, we directly connect you to ready cash buyers for a faster sale.
Do I need a solicitor for the sale?	Yes, to ensure all legalities are addressed. Our buyers often have recommended solicitors, but you’re free to choose your own.
What happens if my property doesn’t sell immediately?	While a swift sale is our goal, in rare cases where it might take longer

 

Looking Ahead: The Future of Selling Properties Fast