Selling your home on the open market can be complicated, confusing and seemingly never-ending. It’s no surprise that our property survey has ranked it as the most stressful life event. At Vivo, we understand how many things you have to juggle once you’ve put your house up for sale, especially as family and job commitments don’t stop during this time! Often to make things simpler, we set a goal of achieving a specific sale price. Getting this figure means ‘success’, a reward for all the troubles of selling a home. Ultimately, this can lead to you holding out for a set price at all costs, even rejecting lower offers from proceedable buyers.
However, there are factors other than price (such as speed and security) that you need to consider when you’re selling your home. For example, you may be extremely busy with childcare duties, so a smoother sale can be a better option for you if you don’t have lots of time to dedicate to the selling process. In addition, you may have just started a new job, so you want to avoid having a drawn-out sale on the open market the breaks down several times, delaying the transaction and resulting in taking up more of your time.
Once you have a good understanding of what features are important to you, it becomes much easier to know what house sale route you should go down, and resultantly what price you’d be happy to accept. No house sale is the same because everyone’s circumstances will be different. Ultimately, you should take the path which is best suited to you and your situation.
If you’ve found your dream next home, or need to sell within a specific timeframe, having a guaranteed sale (and price) should be top of your list. While sales can break down at any point on the open market, at Vivo once you accept our formal offer, your sale is secured. With no last-minute surprises or price changes.
If this sounds right for you, we’d recommend using a fast property buyer, as you can secure your sale with minimal risk of breakdowns. You may need to exchange a slightly lower offer, but it means you can proceed with your next steps faster and without worry.
Due to the complexities and hassle of the property market, a growing number of people are prioritising stress-free house sales. Think to yourself;
Once you have a clear idea of the involvement you want in your sale, you’ll have a better understanding of how you should sell your home. If you’re time-rich and keen to renovate your home to add value, the open market may be the best option. If you’d prefer a sold-as-seen sale with minimal effort, a fast property buyer offering around 85% may be a better choice.
If you definitely want to sell your house fast, the traditional open market route may not be the best option for you. It tends to take around 6 months, compared to a house buying company like Vivo, where you can receive your full funds in as little as a fortnight. We’re not called ‘fast property buyers’ for nothing!
If a timely sale is important for you, you may need to relocate for a job or avoid repossession, you may need to be comfortable with accepting a slightly below market value in exchange for a quick turnaround. But this doesn’t mean you’re necessarily out of pocket.
The saying ‘time is money’ does come true when you’re selling your home. It can be a potentially lengthy transaction, and the process incurs expenses along the way. This includes the ongoing costs of running a house (from council tax to utility bills) but also fees such as the house survey and from solicitors.
When you sell on the open market, you put faith in a lot of different things, all working together. Events outside your control, such as a break in the property chain, can hamper your sale.
Secondly, the amount of people involved in your sale is much larger in conventional sales compared to using a fast property buyer like Vivo. From estate agents to fellow buyers, make sure you only work with people you feel are trustworthy and have your best interests at heart.
If you decide an alternative route, such as using a house buying company, is better for you, make sure you take the time to read their reviews. Trustpilot or Google is a great place to start and ensure they’re verified reviews from real people. Also, check their accreditation and whether they’re part of the National Association of Property Buyers (NAPB) or TPO regulated. Find out why you can trust Vivo here.
Lastly, if the price is vital for you, we recommend concentrating on the final figure instead, after the costs of selling have been calculated. You may find that a slow sale with a higher Selling Price doesn’t leave you with more money than a fast sale at a slightly lower offer.
As part of our fast property sale model, we tend to offer around 85% of market value in exchange for a quick, secure and fuss-free sale. We understand that you may have reservations about selling your home ‘at a discount’ or below the perceived ‘market value’ price, but we’re here to reassure you that this method, once you factor in the associated costs on the open market, can often save you money as well as time and hassle.
To help you understand more about the benefits of accepting an offer at a ‘discount’, we’ve taken a look at the cost of selling your home on the open market vs using a fast property buyer like Vivo. You may be making a ‘loss’ on the initial price, you’ll be saving time and money at the end of the sale.
To help you understand why holding out for the highest price on the open market isn’t always the best idea, we’ve created a fictional example of a house sale for £200,000. Below you can see how you may be financially better off, accepting a lower initial offer, as added costs on the open market can often eat away at your final price:
|Sales process||6 months Open market||7-14 days Vivo Property Buyers|
|Market value (advertised price)||£200,000||£200,000|
|Agreed price (average 5% discount)||£190,000||£170,000|
|Final price after post-survey negotiation (average 3% discount)||£179,877||£170,000|
|Solicitor fees (average £2,000)||£177,877||£170,000|
|Cosmetic repairs to property||£174,477||£170,000|
|Monthly mortgage repayments (£1,100 per month)||£167,877||£170,000|
|Gas safety certificated||£167,777||£170,000|
|Risk of sale breaking down||High risk||Secured sale|
|Final Price 167,777||Final Price £170,000|
You’ll have direct contact with (us) your buyer. No frustrating middlemen or inflexible office hours
We’re efficient and can work to your timescale, meaning you can spend more quality time with loved ones
We remove all uncertainty, giving you peace of mind knowing that your sale is secure and won’t fall through
As previously mentioned, we buy property at around 85% market value in exchange for a fast, stress-free, secure house sale. As part of this service, we take care of any fees, surveys and paperwork We are always upfront that we will give a slightly below market value offer but we always stay true to being honest, transparent and fair. We treat our customers like we’d like to be treated ourselves.
By being transparent about buying at a discount at the earliest stage possible, we hope this builds trust and authenticity. Selling your home is an important transaction, so it’s vital that you can trust your buyer, and the more secure your sale the better.
In addition, we remain 100% committed to our promise that once you accept our formal offer, your sale is secure with no last-minute changes or surprises. With your sale at no risk of falling through like the open market, we’ll never draw you in with misleading terms like ‘100% cash offer’ or have unexpected changes to the buying price on the date of exchange.
See how we’ve helped many people who may be in a similar situation to you:
Because of my circumstances I wanted a hassle free house sale without the uncertainty of the sale collapsing at the last moment to enable me to move. For me the peace of mind was more important than obtaining the maximum price through the market or a higher headline figure offered from some of the other property companies. This company provided a flexible service to fit in with my time scales and despite all the bad publicity these companies get about reducing the agreed price at the 11th hour Vivo kept their word.
Happy Vivo Customer
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