There are plenty of reasons why you might want to make a quick sale for a property. Maybe you are looking to get out of a difficult financial situation and liquidise your assets. Perhaps you have inherited a property after someone has died and want to sell it as fast as possible. Here we explain the top 10 reasons why you might want to sell a property fast in the UK and how you might go about speeding up the proceedings.
Top 10 Reasons to Sell a Property Fast
There are a variety of reasons why one may want to sell their property fast, whether it be a house, bungalow or even flat. Here, we share the top reasons why you might look to make a fast property sale:
1. Sell Your Property Fast to Get Out of Debt
If you are a homeowner who has landed in some financial trouble, selling your property could be a good option for consolidating your debt. There are many different factors to weigh up if you opt to do this. However, one of the key important factors will be how fast you can sell the property as this will impact how quickly you are able to pay off your debt. You should also consider how much profit you will actually have after all your bills are paid to see if it is worth it. If you decide that it is a good strategy, you could sell your house in order to resolve financial issues, clear any debt and avoid repossession.
2. Sell a Property that You Have Inherited
If a close relative dies or goes into a care home, you may find yourself inheriting the property. Whilst sometimes this is a blessing, in other situations it could be an unwanted burden and something extra to deal with. Dealing with probate properties can be complicated and stressful; thus, it may be something that you want to sort out as soon as possible. The sooner you are able to sell a probate property, the sooner you can move forward and relieve yourself from the stress.
3. Sell a Property Following a Divorce or Break Up
There are many different options about what to do with a property after a relationship breaks down. In some cases, one person could buy the other person out in order to obtain full ownership. In some cases, however, the couple may want to sell the property as soon as possible in order to share the profit and move on with their lives. Selling a property fast in order to share the home equity in a divorce settlement is one of the main reasons for a quick property sale.
4. Sell a Property to Relocate
Relocation is a common part of adulthood, be it moving for a new job, moving to a more family-friendly area or changing areas for a fresh start. Regardless of the reason, you may be in a hurry to sell your home and start your life in your chosen destination.
5. Sell a Property Fast After Failing with Traditional Methods
If you have been previously unable to sell your home using other methods, for example working with a traditional estate agent, you may be extra motivated to want to get your house off the market as quickly as possible. This could be due to choosing the wrong estate agent or solicitor, who have slowed down the process, or maybe there is a problem with the property itself.
6. Sell a Property to Downsize / Upsize
Sometimes we outgrow the property we are living in as we enter a new stage of our life. For example, maybe you had a big home and your children moved out so you are looking to downsize. Similarly, you might want to upsize if you are planning to grow your family or are simply looking for more space. You may want to change homes after deciding that it is easier to move into a new home rather than carry out necessary home improvements in your existing place. A quick sale can support you in your quest to move onto the next phase of your life.
7. Sell a Property After a Broken Property Sale Chain
Broken property sale chains can be extremely frustrating, particularly if they happen late in the game. If you have already wasted lots of precious time and energy on a property sale that ultimately fell through, it can be disheartening to start the whole process again from scratch. For that reason, you may want a property sale as quickly as possible.
8. Selling a Property Fast If It Has a Short Lease
If your property has a short lease, or other underlying legal issues such as neighbour disputes or planning issues, you may want to sell your property as quickly as possible. Working with a specialist property service means that you can tackle your legal issues and sell the property fast.
9. Sell Property Portfolios or Tenanted Properties Fast
If you have a property portfolio, it can sometimes be difficult to know where to begin, especially if within your portfolio you have tenanted properties or properties with rental arrears. Working with a specialist service could allow you to have a quick sale and could even help you find one buyer for your complete portfolio.
10. Sell Commercial Property and Land Quickly
The exact sale time of commercial property or land will vary between transactions and each will have its own specific criteria. However, if you want to sell any commercial property or land quickly, you could work with a property company who will be able to handle the purchase quickly and manage any associated transaction fees.
Top Tips for a Quick Property Sale
If you are looking to speed up your property sale, there are a few actions that you can take to make the process faster and more seamless:
- Prepare your home – having your home ready to sell (cleared out, depersonalised, ready for viewings, and making any quick fixes or decorative changes) can speed up the process substantially as it means it is ready for viewings immediately.
- Set a realistic asking price – it can be tempting to overcharge for your home and maximise your profit; however, setting an unrealistic asking price will deter buyers and mean that your house could spend far longer on the market.
- Work with a trusted online service or estate agent – the right property management solution will maximise exposure to your home and help you find a seller fast, without compromising on the asking price.
