In the past you would automatically reach out to your local estate agent if you wanted to sell your home. The traditional approach was the norm and online estate agents didn’t exist. But with the emergence of new technologies and a shift in what homeowners want during the selling process, there are now a multitude of different ways to sell your house online.

Today you can sell your home on your own terms, selecting a method which suits your budget, timeframe and financial goals. If you sell your house online, you can avoid the traditional route and save yourself a lot of time and money.

 

How can I sell my house online?

There are a few different ways you can sell your house online. All bring different benefits and disadvantages, so it’s important to find the right method to suit you.

Cash buying companies

There are many online companies who will buy property for cash, although usually about 10% to 25% below the asking price. These can be a good option for people who need to quickly access cash or want to avoid repossession of their home.

If you use a cash buying company, you should research them thoroughly to check they are legitimate. You can search them on Companies House and look through their filing history. Genuine cash buyers will have entries denoting ‘registration of charge’ and ‘satisfaction of charge’. If the company doesn’t have these entries, they are probably a brokerage, not a genuine cash buyer, and they won’t be able to offer a fast sale.

You should also check reviews on Trustpilot, a website where companies are reviewed by customers. You can expect a few negative reviews for any company, but the majority should be positive for a decent organisation.

A cash buying company will give an initial valuation which may change once the house has been surveyed. So, you might not get the first price you were given.

Online auction

You can opt to sell your house online through a property auction. With an online auction, you will agree the reserve price with the auction house or seller. This will be the agreed minimum price that you want to sell your house for. This remains confidential and is not advertised to bidders. Bidders receive a higher ‘headline’ price.

An auction can be a quicker way of selling your house. The dates for exchange and completion are fixed by both sides, so you have the certainty of when the sale will be done.

Some auction houses or estate agents will have fees that need to be paid to take part in an auction. SOLD.CO.UK do not charge any fees and we fully manage the online auction process for you.

Conventional online estate agents

Online estate agents offer different types of packages which can suit different budgets. In contrast to high street estate agents, who charge between 1% and 3%+VAT commission of the selling price, conventional online estate agents usually charge a flat fee anywhere from £100 to £1,000.

Some cheaper packages don’t include things like photography, floorplans and advertising on the big property listing websites, so it’s important to look at multiple companies to find the right one package for you.

Some conventional online estate agents offer a cheaper option if you pay up front. However, this can come with risks as your property is not guaranteed a sale. You may need to switch to another estate agency, which will result in more costs. Others offer a no sale no fee package which removes this risk, but they are usually more expensive.

Fully managed online property service

Some online estate agents are different, like SOLD.CO.UK. We don’t charge any fees at all, at any point in the selling process. There are no hidden costs, and we even cover the legal fees.

With a fully managed online property service like SOLD.CO.UK everything from photos and floorplans, advertising, right through to completion of sale, are all handled by the company. SOLD.CO.UK can take care of everything you need to sell your house online and we offer a tailored approach so you can move between the services you need at the time.

What are the pros and cons of selling my home online?

A benefit to selling your house online is that it’s usually much cheaper than using traditional high street estate agencies. However, most conventional online estate agents will still charge a flat fee. If you sell your house online with SOLD.CO.UK, we won’t charge you any fees and we don’t have any hidden costs.

A downside to online methods is that a traditional high street estate agent might be able to squeeze a bit more money out of the buyer. However, you’ll likely end up losing that when you pay all the fees.

Another downside can be that whilst there are some free online estate agents, they put much of the work on the seller, such as taking photos of the property or handling the advertising. However, SOLD.CO.UK can offer a fast, free and fair service tailored specifically to your needs. We take care of everything and also run a fully managed sales progression team whose job it is to make sure all parties complete the sale correctly and on time.

Like high street estate agents, conventional online estate agents might over-value your home as much a 7% to win your business. You’ll be encouraged to put your property on the market for more than this is worth, only to be told to lower the price every few weeks when you don’t receive any interest, until your reach the realistic price. At SOLD.CO.UK, we never over value your home; we’ll only give you a realistic value for your property.

Using a conventional online estate agents might mean that you do not sell your house any quicker than using a traditional high street agency, with sales sometimes taking months. Online auctions can usually secure a quicker sale, but most auction houses cannot guarantee a sale. SOLD.CO.UK can agree and complete sales faster than any agency in the UK. We agree 87% of sales within 30 days and can do it in as few as 25.

Selling your house online can sometimes bring more flexibility depending on the length of contract you have to sign. You should check carefully with the online estate agents you use to make sure you don’t get tied in to a long contract. SOLD.CO.UK will only ask you to sign with us for 30 days because, in our experience, 30 days is more than you’ll need to agree a sale.

Can I sell my house myself online?

Technically you could sell your own house online. But there are a lot of reasons why you shouldn’t.

Firstly, there is a legal requirement to have all paperwork relating to the sale to be 100% accurate to the best of your knowledge, which can be difficult to achieve if you don’t have the right expertise. At SOLD.CO.UK all of our documents are approved by the Law Society and are completely compliant to the process of selling your home.

Secondly, you won’t have a database of buyers to immediately advertise your home to from day one. This could mean it will take a long time to find a buyer, if you can find one at all. At SOLD.CO.UK we have over 20,000 pre-approved cash buyers ready to buy your home.

Thirdly, you may not know how to create the best descriptions, photos, and accurate floorplans for your property. As part of our fully managed service, our expert team will handle all of this for you.

Lastly, listing sites like Rightmove and Zoopla do not allow private sellers. You can advertise your property on websites like Facebook and Gumtree, but they won’t be able to reach the same number of people as the big property listing sites. So, most buyers would not be able to find your property, and you would be unlikely to achieve the price you want. At SOLD.CO.UK we can market your property on Rightmove and Zoopla and reach over 98% of active buyers.

Everyone is talking about SOLD.CO.UK

What is the cheapest way to sell my house online?

In short, the cheapest way to sell your house online is with SOLD.CO.UK. We don’t charge any fees, we have no hidden administration costs and we cover the legal fees. Unlike some other free online estate agents, we’ll also fully manage the property sale, from listing to completion, so the process is completely hassle-free for you.

Why should I choose SOLD.CO.UK?

  • We offer a range of services, with a tailored approach to match your needs
  • You’re able to move between these services whenever needed
  • All are totally fee free, and we pay your legal costs
  • We never overvalue nor over-promise
  • You only sign up for 30 days, and if we haven’t sold your property by then you are free to walk away

Get it SOLD.CO.UK today

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