How Long Should You Leave Your House on the Open Market?
A quick house sale is what everyone wants. Whether you need the money or have your eye on your dream property, securing a buyer quickly and getting started with the paperwork is the aim for most property sellers. However, the reality is far from the truth. According to Zoopla’s latest House Price Index, selling your home has decreased by 31% during 2020. Over the past year, properties have sold in an average of 27 days.
Whilst this may seem positive, it is often not the actual sale of your home that takes time. A serious buyer is undoubtedly a great achievement, but the paperwork and legalities can put a halt on proceedings. According the Gov.uk, buying or selling a home normally takes 2 to 3 months from advertising the property to completing. However, the longer the chain of buyers and sellers, the greater the chance for a lengthy process.
Can your property loose appeal?
When your home has been on the property for a number of months, those who show interest may question why. Is the price too high? Does the property have something wrong with it? Why has it been on the market for so long? Essentially, the longer your home is on the market the less attractive it becomes to buyers.
How long you leave your home on the open market should be something you discuss with your estate agent. They will have data available on property sales in the area and will be able to give you details on the timeframe on the sale of similar homes to yours. From this, you can set a realistic expectation.
My property is not selling, what can I do?
If your property is not selling you have options. It can seem disheartening when your home has been in the market for months and you are keen to sell. Typically, these are the most common changes you can make to secure a sale:
- Reduce the asking price – only explore this opportunity if you have exhausted all other options. If you and your estate agent agree that the property is fairly priced, this should be avoided. However, it will all boil down to how desperately you need or want to sell.
- Change estate agent – there are times where estate agents aren’t doing enough to sell your property. This can have a detrimental impact on the process for you. Therefore, you are fully within your rights to change to another estate agent. You want an agent who is proactive and keeps you in the loop continuously.
- Carry our renovations – small- or large-scale changes to your home can increase curb appeal. An internal or external spruce up may encourage potential buyers, especially if your estate agent updates your listing with fresh photographs and information.
Are there alternative ways of selling to guarantee a quick sale?
At SOLD.CO.UK we can offer our customers a chain-free and stress-free sale. We can sell your home fast. We have two options; we can either guarantee you a sale by buying your property from you as a cash house buyer, this is known as our Custom Purchase service. With this option, we can have your property sold in as little as 7 days if you need. Secondly, our Enhanced Listing option means you give us 30 days (or under) to find a buyer for your home. Typically, it takes us around 23 days. The team at SOLD.CO.UK can work to whatever timeframes you have, and our fully managed service can be customised to meet your house sale requirements. And of course, you won’t have to spend a penny, and we even cover your legal costs.
You can get the process started by securing a no-obligation property valuation with us today. Alternatively, give us a call on 0800 566 8490 and one of your property experts will be able to discuss the options available to you.