Whether you are looking to sell your property quickly because of a new job, children or want extra space, selling your home can be an incredibly frustrating and lengthy process. Thus, being able to sell your house fast, such as in 5 days, is often an ideal way for people to sell a house fast for a variety of reasons. It may be that your house is about to be repossessed or perhaps you just want to downsize or relocate quickly. No matter why, selling your house in 5 days can be ideal and feasible for many people in the UK.
Decisions made during this period of selling a house can end up costing or saving you a substantial amount of money, so it is crucial to select the best approach to selling your house fast. In this guide we provide you with the necessary information and tips to help you sell your home quickly and efficiently, such as in 5 days.
How Long Does It Take to Sell a House?
When selling a house quickly, there are several factors to consider that can affect the timeframe, such as whether you sell the property with a chain, or no chain. One of the factors that can determine how quickly you can sell your property is how long it will take to find a buyer to purchase the property. The length of time it takes to receive an offer varies enormously between properties and largely depends on factors such as location, condition and how active the market is.
The average period of time it takes to find a buyer is between 5 and 14 weeks depending on how active the market is. In the past 18 months, the housing market demand significantly increased due to factors, such as the pandemic and the stamp duty holiday, causing this average to dramatically decrease. However, as the market returns to less frenetic levels, this average is set to return.
Moreover, the length of the conveyancing process once the buyer has agreed to the sale may affect how quickly you can complete the sale, and is on average just over 2 months. The time frame is largely reliant on the efficiency of the conveyancer and estate agent, and the level of demand in the property market which varies through the year.
There is also the additional wait of exchange of contracts to completion, taking the total average time from property listing to completion of the sale to 4-6 months on average when using a chain sale. Therefore, if you choose to sell your home using a chain-sale, it will not be possible to do so within 5 days.
How Long Does It Take to Sell a House with No Chain?
It is generally quicker to sell a property without a chain sale; this is usually referred to as ‘chain free’ and is a very desirable characteristic for a property buyer to have. On average, it takes 8 weeks from the offer, through to exchanging contracts and then to the completion of the sale to the buyer. In reality however, it may be counterproductive to only pursue potential buyers who are not in a chain as it can take longer to find someone to purchase the house in the first place.
First time buyers and those living in rented properties will be chain free buyers and estate agents will often prefer them other people caught in a property chain as chain free buyers can often move much quicker and will less initial stress.
How to Sell a House in 5 Days
If you want to sell your home within 5 days, there are multiple ways you can speed up the sale.
Consider Your Asking Price
To increase your chance of selling your house within 5 days, ensure you set a fair asking price. One of the most common reasons your house may not be attracting interest from potential buyers is if the asking price is set too high. An overpriced property will appeal to fewer buyers and receive fewer viewings, thereby reducing your selling chances.
You can ensure you are requesting a fair price by obtaining property valuations from estate agents, in addition to researching sale prices of similar properties to gauge a realistic amount to charge.
Marketing Your House
As many individuals now look for new homes online, it is important to include high-quality images that highlight its best features. Additionally, well-written descriptions with sufficient detail of the property will ensure you attract high levels of attention from potential buyers.
Furthermore, marketing towards a certain kind of buyer who is prepared to quickly buy a house will speed up the sales process. Look for buyers who have all the necessary documentation in place to proceed with the sale, a mortgage agreement and an engaged solicitor.
It is also advised to consider marketing conditions. If the market is particularly slow, you may be able to sell your home more quickly if you wait for it to improve before putting it up for sale.
Presentation of Your House
It is crucial to ensure that your property is tidy, uncluttered and cared for to avoid it appearing unappealing to possible buyers. Poorly presented houses will receive lower offers as they indicate that the buyers will be required to spend money on the property.
Spending a small amount of money fixing minor repairs and making home improvements will give potential buyers the impression that the house is of higher value.
Best Way to Sell a House Fast in 5 Days
While following the above advice can help increase your chances of selling a property fast, such as within 5 days, there is still the possibility that the market and luck is just not on your side. The best way to sell a house fast and in 5 days is by using a Fast House Buying Service.
Sell to a Fast House Buying Service
In order to sell your home quickly in 5 days without accepting a below-market price, it may be necessary for you to sell your property to a company that buys houses. A house buying service is the fastest and most efficient way to sell a property. In addition to selling your house quickly and hassle-free, there are a great deal of advantages to using a cash buying house service, such as no estate agent fees.
Additionally, they will buy the property as a cash buyer rather than relying on mortgages and so there’s no need to wait for approval on mortgage applications. This lowers the risk of failed sales and delays and will ensure a faster and more reliable transaction than a standard sale on the open market.
The amount that a property will be sold for by a house buying service is likely to be less than its market value. However, when considering the advantages of quickly selling your home with minimal hassle and risk, the benefits dramatically outweigh the costs if you are looking to sell your home fast, specifically within 5 days.