Posted by Vivo_Team on July 10th, 2019

Why is it hard to sell a house fast?

Selling a house at a price that both the buyer and seller are happy with is often a challenging task. And if on top of this you add the requirement for the sale to happen fast, the complexity grows significantly and the likelihood of all boxes being ticked gets pretty low.

In the last five to ten years, property affordability has become an issue and for many people looking to buy a house, committing to such a purchase has become all but impossible. And it’s not at all surprising that Brexit and Coronavirus and the uncertainty they’ve caused in our lives have caused people to feel even more reluctant about spending large sums on significant purchases like a house. The impact of this is a palpable drop in demand with fewer buyers on the market who are also being extra cautious with their decision.

As well as this, as trivial as it sounds, we should never discount a buyer’s common sense and human nature. Along with the economic uncertainty, selling a house fast is challenging because it is high-involvement decision making, much like buying a car. These purchases are normally expensive and very important for a buyer in the longer term; hence they take their time to properly weigh up their options. With this in mind, it’s unsurprising that buying a house can cause anxiety, stress, or post-purchase regret. That’s why it is so important to choose a trusted, knowledgeable and truly caring estate agent, to assist in this important journey, bringing peace of mind to both seller and buyer.

With all these factors slowing down the market what can you actually do to sell your house fast?

I want to sell my house fast – what are my options?

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There’s over 5,400 people searching in Google every month how to sell their house fast. This means there’s a lot of house owners who know what they want but are still unsure about their options when it comes to a fast house sale. The main complexity with selling a house quickly is that you will have to balance three sometimes conflicting factors: speed, price and security.

Let’s take a look at the most common reasons for searching for a quick house sale:

House sale fell through – Many of our customers get in touch with us out of frustration with the open market. One of its main pitfalls is that no sale is secure until the contracts are exchanged, which gives plenty of time for buyers to have cold feet and unexpected issues to occur.

Broken property chain – Another inherent problem of the open market, an estimated 300,000 house sales break down every year in the UK due to complications involving property chains. With this in mind, there’s no wonder sellers decide to look for a more secure and speedy method outside of the traditional open market.

Inheritance – Selling a property in any situation is a stressful thing but doing it after losing someone is understandably unwelcome. It can become particularly difficult when you’re selling a home you’ve inherited rather than solely own. Often this is a financial decision made between several family members. Here, a quick house sale can be a good way to avoid any undesired family frictions.

Repossession – This is a horrible and stressful situation but can sadly happen to anyone. Therefore, if you feel that you will not be able to complete a mortgage repayment on time and find yourself threatened with eviction, it is vital that you act quickly and find out all available options you can take to stop the house repossession from happening.

Relocation – Moving to an uncharted territory due to a professional opportunity or wanting to retire to a quieter place can be an exciting adventure. However, it also entails a lot of quick decision-making, including what to do with your property. Knowing that you can sell your house quickly and hassle-free can give you the peace of mind you need to enjoy this important next step in your life.

How can you sell your house fast?

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Option 1: Use a fast property buying company

  • Speed: Sell your house in 7 days and get your cash in 14
  • Security: Secured house sale after formal offer, no risk of falling through.
  • Price: Selling for 80%-85% of market value in exchange for a quick turnaround.

Fast property buying companies are widely regarded as the best option if you are looking for a speedy house sale. This is not just our opinion, The Advisory, a reputed blog featured in the Sunday times that provides expert advice for house owners, also regards this service as the best solution. These companies have a specialised process and the necessary funds to purchase your property and hand you the cash in less than 14 days. In other words, they can help you sell fast because they are your buyers (no middlemen involved). This is also a great option if you, like many others, are frustrated with the uncertainty of the open market and want a 100% secured sale, which is especially valuable during coronavirus times. However, in exchange for purchasing your house quickly and securely, fast property buyers will offer you an average of 80%  of your house’s market value.

If you are considering fast property buyers, the most important thing is to choose the company smartly. We’d recommend you to always check the company’s reviews on sites such as Trustpilot and to verify that they are part of the TPO and NAPB, the fast buying company regulators.

Tip: make sure the reviews you find in Trustpilot are legitimate by seeing the country of origin. Dodgy companies might buy reviews.

With 4.9 starts in Trustpilot, Vivo is the best rated fast property buyer in the UK. We buy properties for 85% of market value in exchange for a quick and secure house sale. We are a family run business that focus on the human side of selling a house. Yes, we can buy your house fast, but we’ll also adapt to your situation so you can move out whenever you are ready, making the process as stress free as possible. And once you accept our formal offer the deal is set in stone so you can focus on other things with a peace of mind.

You can get a free no-obligation offer for your house here, try to include as much information as possible so we can be as accurate as possible.

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Option 2: Auctions

  • Speed: Average sale takes 2-3 months
  • Security: Risk of having no bidders and not being able to sell your house
  • Price: Your property could sell above price or not sell at all. In any case, you will need to pay for auctioneers fees, entry fees & solicitor costs

Property auction can also provide you a quick house sale, and it can be particularly effective for properties that need a significant renovation. This can be a good option for owners who want a relatively fast process and are happy to take some risks in order to get a higher price for their properties.

The auction process is slightly lengthier than that of a property buyer. To start with, you’ll need to sign up around 4 weeks prior to the auction day, to ensure there is enough time to enter the property into the catalogue for advertising. If the auction is successful, exchange will take place when the hammer drops but it tends to take another 28 days for completion unless a later date is agreed.

Despite the costs of putting a house for auction, some properties specifically attractive to investors could trigger a bidding war, raising their value and thus increasing the profit for the owner. However, there is also a risk that no one will bid for your house and you won’t be able to sell at all. This means you’ll need to pay for the auction fees despite not getting anything from it! If this service sounds appealing to you, we’d advise you to do an extensive research on what it entails to put a house up for auction, its costs and what third parties you need. This guide from Home Owners alliance is a good place to start from.

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Option 3: Estate agents

  • Speed: Average sale takes 3-6 months
  • Security: House sale is not secured (property chains, sales can fall through…)
  • Price: 100% of market value

Estate agents are the traditional house selling method. However, when it comes to getting a house sold fast, they are a slightly out of their depth. It’s not their fault, the open market is uncertain and finding a suitable buyer can take a lot of time. Plus, even with an offer, in the open market you are vulnerable to being part of property chains , gazumping or a buyer’s cold feet which can make your sale fall through. On the other hand, being patient can lead to an attractive offer close or above your asking price; however tempting this might be, you should always remember being patient has a cost. Is it worth waiting 6 months for an offer while you pay for your mortgage? See here how the open market compares to selling to Vivo Fast property buyers.

Tip: If you are already relying on an estate agent, consider bringing a second agency on board, whoever gets the deal can have the fee. This increase in competition might give your sale the push it needs.

Best Companies to sell your house fast ranked

We thought you might find useful a list of the best-rated companies for each one of the options according to Trustpilot. Use this list as a reference and contrast their services with the ones in your area:

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Best Property Buying Companies 

1. Vivo Property Buyers 4.8

2. We Buy Any House 4.7

3. The Property Buying Company 4.7

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Best Auction Houses

1. Pattinson Auction 4.6

2. IAM Sold 4.5

3. SDL Auctions 4.4

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Best nationwide estate agents

1. EweMove Sales and Lettings 5 stars

2. Knight Frank 4.9 stars

3. Your Move 4.9 stars

 

You can trust Vivo for a fast property sale

Aside from being able to buy quickly, avoiding fees and not needing viewings, our clients always commend us on our personal and attentive approach to communication as well as our trustworthiness and professionalism. We often deal with clients who have previously been stuck in a chain which has delayed their sale, only for it to fall through; we have been able to offer them an alternative solution which has allowed them to sell quickly and without stress. Read what our clients’ say about us on Trustpilot

You are 5 steps away from selling your house fast

FAQs when selling a house to Vivo

1. How will you value my house?

To guarantee a fair and accurate offer, the following 3 steps are followed for each and every property that comes our way :

Step 1. Desktop valuation
Our team will start by valuing your property with readily available information such as; your property type, size and condition, what similar houses in the area are selling for, how the local market is performing and property history.

Step 2. RICS valuation
The RICS Valuation is carried out by an independent qualified surveyor part of the Royal Institute of Chartered Surveyors. They will visit your home at a convenient time for you and will carry out a professional Valuation on site

Step 3
Due diligence
Once the Online Valuation and RICS Valuation have been completed, we review all the information together with any further information obtained from the seller and carry out our final due diligence.

2. How much will it cost to sell my house fast?

Nothing. There are no fees for you to pay at any stage when selling your house to Vivo.

Vivo pay for the RICS Valuation, Legal fees, clearance, cleaning, any decorating or refurbishment works which might be needed.

3. How much will Vivo pay for my property?

In return for a secure 7-14 day sale Vivo offer 85% of the estimated current market value of your property. This includes all legal fees, clearance, cleaning and refurbishment costs.

4. How can Vivo buy properties so fast?

By keeping it simple. We buy with our own cash and do not depend on banks or third party investors.

The team is available 24/7 and the legal team who are on board specialise in fast house sales. It’s what we do on a daily basis and each property receives our full attention.

A 7 day sale for freehold properties is feasible, leasehold properties tend to take a little longer depending on the freeholder and managing agents.

5. Is my sale secure?

We are proceedable buyers, which means we buy properties with our own funds, so there is no risk of a house sale falling through.

6. When am I tied into the sale?

With Vivo, you are only ever tied in after you have exchanged on the sale. We do not ask you to sign any formal documents, all legal work goes via the allocated solicitors.

Once you have accepted our Formal Offer and solicitors are instructed, we are 100% committed to the purchase of your home and we hope you are equally committed to the sale to Vivo. The trust comes from both sides.

7. When do I have to move out?

You decide when you move. Vivo will work towards your ideal timescales.

To make your move easier, we are happy for you to stay in your house for 2 – 3 weeks after receiving full funds (rent free) so you can use the funds for your move and plan ahead.

Ask us anything!

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Vivo Property Buyers is the trading name for Potrell London Ltd, The Ashridge Business Centre 121 High Street, Berkhamsted, Hertfordshire, HP4 2DJ.

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