It’s no secret that selling property through an estate agent is usually a relatively slow and stressful process. This is why sell house fast and auction services like ours have grown in popularity.
Using an agent often means you’re at the mercy of:
- Buyers, who may change their mind at any moment
- Legal fees and agency costs
- The ever-changing property market
- The decisions of agents, who may drag their feet or choose to place their focus elsewhere.
However, if you’re the owner of a bungalow that you wish to sell, placing this type of home on the property market may be a sensible idea – as they’re often in high demand.
Does this mean a quick sale for my bungalow?
There is still no guarantee that you’ll sell quickly; there are a number of factors that will influence the success of your sale.
If you’re concerned about the process of selling your bungalow and wish to explore the options available to you, read on.
The team at Property Solvers have compiled this guide to selling your bungalow quickly.
Why is Your Bungalow Likely to Sell Fast?
Bungalows have long been in demand due to a number of advantages they provide, so depending on the particular circumstances of your property, you may find that it spends a relatively short amount of time on the market. But why are bungalows likely to sell?
Why Homebuyers Like Bungalows
Many potential buyers seek out bungalows because they are:
- More accessible and safer for older people, children and those with disabilities due to a lack of stairs
- Easier and cheaper to clean and maintain as a result of their smaller size
- Flexible, with lots of potential for improvement and additions
- Private – as they are often situated on relatively large plots of land.
Whether the buyer wishes to live in the property as it is, add extensions or simply knock the building down and start from scratch, bungalows offer a flexible option for all three eventualities.
What to Consider When Selling Your Bungalow
Before you decide to put your bungalow on the market, you need to consider the following matters, as they will heavily affect the speed at which the property will sell:
- The condition of the property in question
- The current state of the market
- How quickly and effectively you communicate with estate agents and solicitors
- The price you’re asking for your bungalow
Luckily, you are able to make changes relating to most of these elements. Doing so will improve your chances of securing a fast sale.
How to Make Your Bungalow Sell More Quickly
If you’re concerned that your bungalow is currently unlikely to sell, or if you have a very tight time limit in which to make the sale, you can take the following approaches to increase the likelihood of success:
- Make your property more attractive for buyers
- Take matters into your own hands
- Price to sell
- Choose the right property buying company.
Here, we’ll explore these points in more detail:
Make Your Property More Attractive
Clear out and clean all spaces to make them look fresh and new.
Apply a lick of paint to scuffed or tired-looking walls, deep-clean carpets, fix and polish furniture and tidy up outdoor spaces.
Check out some of our tips on how to clear your house quickly.
Take care that your estate agent displays a good number of photographs of your property and that they are attractive and well-lit.
Take Matters into Your Own Hands
Why not take the official photographs of your property yourself, or hire a professional photographer, to ensure it looks its best?
You should also share links to your bungalow’s estate agency profile on social media.
Plus, there are various property-related networking events you can attend in-person to promote your home via word of mouth.
Price to Sell
Everyone wants to make a profit, but if time is of the essence, it may be more sensible to adjust your bungalow’s asking price.
How to calculate the best price for your bungalow:
- Compare your asking price to those of similar properties in the local area at the time
- Consider the pricing scale you were advised at your valuation and moving your property further towards the bottom
- Ask “how low is too low?” – a super-cheap home may put buyers off, as they’ll assume there’s something wrong with it
- Discuss your options with a property expert
Choose the Right Property Company
Take your time to decide which organisation is the best fit for your property.
Of course, you don’t have to choose an estate agent at all. There are companies that specialise in purchasing your property from you directly, for cash, or providing an express sale service.
It’s important to consider whether this is a better option for selling your bungalow.
What are Your Options if Your Bungalow Won’t Sell?
If the above steps have failed, you might consider:
- Renting your bungalow to another person
- Applying for a bridging loan (if you were relying on the funds from the sale in order to buy a new property)
- Selling all or part of your bungalow to the bank
- Selling your bungalow to a home buying company for cash
Is an Estate Agent or Home Buying Company Better to Sell Your Bungalow?
There are a number of benefits to both selling your bungalow to a home buying company for cash and taking the traditional route by waiting for a buyer.
It’s important for you to take your time and consider the perks that both have to offer before making a decision.
Sell Your Bungalow for Cash
This is the best approach to take if you have the following priorities when selling your bungalow:
- Speed over profit – it’s possible that you’ll be able to close a sale in under 7 days, although you’ll still get a great deal when selling your home for cash – service users achieve between 80% and 75% of the market price of their property;
- Avoiding legal fees, estate agents and the hassles that come with clearing your mortgage debt;
- Achieving complete security for the sale;
- Reducing stress levels throughout the process.
Sell Your Bungalow for Market Price
While this does involve waiting for a buyer, it doesn’t mean you’ll have to use a typical estate agent – there are companies you can use who specialise in selling properties in as little as 28 days via an express sale service. This option makes a superb choice if you prefer:
- The likelihood of making a profit. You may get 100% of the market price of your property when following this route.
- The promotion of your property taking place across all major platforms in order to achieve a quick sale to the right person.
- Low sales fees (often around 1.25%).
- Assistance from experts providing clear and transparent information at all times.
Of course, as a bungalow owner, you’ll have a unique perspective on the property market due to their demand – so does this make a difference to the amount you’ll receive when selling your home for cash or for market price?
Do Bungalows Hold Their Value?
Due to the considerable demand for bungalows and the comparatively short supply, bungalow owners are more likely to find that their properties are less likely to depreciate.
While this means that you’re more likely to achieve 100% of your bungalow’s market value, it also gives you a little more leeway if you need to sell fast – as a home buying company will understand the property’s worth and may offer more as a result.
Which Option is Best to Sell Your Bungalow?
Ultimately, you are the only one who can decide whether to sell your property for cash upfront.
This choice often comes down to the question: is speed or profit your priority?
If you decide to sell for cash, you also need to take care when choosing a company to which you plan to sell.
Is it Always Safe to Sell Your Bungalow for Cash?
While many home buying companies provide a service that is totally above board, there is always the possibility of getting mixed up with scam artists.
This is due to the industry’s reputation for:
- Sharing of personal details
- Transfer of large amounts of cash
- The sense of urgency (and often desperation) from sellers
- Quick turnovers
There are a number of ways you can check that your chosen company is legitimate; we’ll explain these below.
How Do You Know You’re Selling Your Bungalow to the Right Company?
There is a clear set of checks you should undertake to ensure that you will not be subjected to a scam when selling your property for cash. These include:
- Ensuring the organisation is regulated by bodies such as The National Association of Property Buyers, The Property Ombudsman, Trading Standards and the Information Commissioner’s Office (ICO)
- Speaking at length with a representative of the company and only sharing information once all questions are answered satisfactorily
- Reading online reviews on independent sites
- Asking friends and relatives for recommendations.
In order to achieve a quick sale for your bungalow, you need to consider:
- How you’ll prioritise: speed or profit?
- The current demand for bungalows
- Whether you will be able to influence the speed of your sale yourself
- Whether the company you choose is trustworthy in all senses
Your options will include:
- Selling through an estate agent
- Using a home buying company and selling your bungalow for cash
- Using a home buying company’s express sale service
- Sell privately by some other means
Why Choose Property Solvers to Sell Your Bungalow?
Property Solvers is a leading home buying company with 20 years of experience. We offer:
- Cash for your property in as little as 7 days
- An express sale service (full market value) where a buyer may be found within 28 days
- A fully regulated process that you can trust
A possible 75% to 100% of your property’s market price.