If you need to sell your home quickly, it can be frustrating to suddenly be delayed by matters out of your control. So what can you do to speed up the process of selling your house?
Talking to your solicitor and the estate agent and chivvying them along can go a long way to keeping your house sale moving. Typically, most delays on the estate agents’ or solicitor’s end are caused by buyers being slow to respond to paperwork or a delay from the local council. It’s a good idea to get regular updates and respond to paperwork and queries in a timely manner.
Get a survey in advance
While this cost is often borne by the buyer, if you want to sell quickly, you may wish to get a survey done yourself. If it’s from a RICS surveyor and has been done within the last couple of months, it will still be current, and as a result, you can simply present it to any prospective buyers. This will allow them to see exactly what issues there are with your property – if any – and allow them to make an informed decision quickly. It can speed up the sale by several weeks.
Only accept buyers with mortgage preapproval
Sometimes, prospective buyers will view a property without getting preapproval from their mortgage lender. While preapproval doesn’t guarantee that they have a mortgage that will cover the property, it does make it more likely. If your buyers are not preapproved, however, they will have to wait to get approval for their mortgage, and that takes time. It’s even worse when you put the sale on hold while you wait for them to get their finances in order.
If you can sell to a cash buyer or a first-time buyer, it will usually make your house sale much faster. A chain has to be very well coordinated, because if any of the links fall through, the chain is broken. Avoiding chains is often a better solution, so you may wish to accept a slightly lower price from an investment buyer to get your house sale moving.
Immediately contacting a conveyancer or solicitor before an offer has been made can seriously speed up the process. You can get all the paperwork and the contracts drawn up in advance, and then all the buyer has to do is fill in the blanks. In addition, the searches can be performed and the appropriate Land Registry documents drawn up. They can also advise you on the typical amount of time it takes to contact the local council – typically up to 6 weeks – for the required searches.
Finally, there are dozens of companies that offer to buy your house for cash, but it pays to be wary. In general, you will end up selling it for a significant discount, mainly because the house seller takes on a substantial risk and outlay in buying your house. In some cases, you may get as little as 75% of the value. It’s an option for some, but it’s not usually the best.
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