The Challenge of Getting a Fast-Tracked Property Sale

The Challenge of Getting a Fast-Tracked Property SaleIt’s rare to hear of people having a smooth ride when buying and selling homes through the “normal” channels.

Much of the problem stems from the illiquid nature of the property.

It’s not simply a case of putting a house or flat up for sale, immediately finding a buyer and then expecting your funds to arrive shortly afterwards. With property transactions involving large sums of money, making sure the correct legal (conveyancing) processes are followed also takes time.

What’s more, unless there is no onward chain, property buyers and the various third parties involved in the sale can cause delays – examples of which can include:

  • The buyer not having a suitable conveyancing solicitor / conveyancer in place;
  • The buyer not having a valid mortgage Decision / Agreement in principal (DIP / AIP) in place;
  • Estate agents failing to organise the Memorandum of Sale in good time;
  • Delays in organising the Home Buyers or other types RICS valuation / survey;
  • Buyers using the survey results as a negotiation tool.  This can mean that the sale falls through or prolonged “toing and froing” occurs;
  • Legal documentation getting lost “in the ether”;
  • Incomplete legal documentation resulting in unnecessary delays;
  • Slow sales progression, often due to solicitors having large caseloads;
  • The mortgage company delaying the process;
  • Common with higher value properties, property sale chains complicate the process for all parties.

From slowest to fastest, what follows are three methods to accelerate the house sale process…

Fast-Track Your House Sale with Your Estate Agent

Fast-Track Your House Sale with Your Estate AgentWhilst using an estate agent is the best way to maximise the price, the chances of delays and other problems occurring are much greater.

There are, nonetheless, some steps you can take to help push things along…

  • If the appointed estate agent is acting slowly or not keeping you informed, ask to speak with the branch or office manager. Remember to be assertive and state that you will cancel your contract if things do not improve;
  • Ensure that all enquiries are being dealt with.  Decent estate agencies have a full tracking system which you can ask to view yourself;
  • Related to the above, request data from Rightmove+ and ZooplaPro which show the daily levels of online views;
  • If you have agreed on a sale, make sure that the estate agent has checked the buyer’s full credentials before marking the property as Sold STC or Under Offer;
  • Check the buyer’s position and desired completion date (to ensure it aligns with your own plans);
  • Check the buyer’s solicitor to ensure the firm is reputable and will work to your deadlines;
  • Ensure that the buyer has mortgage finance and the deposit balance ready or, preferably, is a cash house buyer;
  • Avoid, as best you can, getting involved in complex house sale chains (the shorter, the better);
  • Continually chase the sale and make sure things are moving in the right direction.

Instructing Another Estate Agent

If you remain unsatisfied with the level of service you’re getting, you may want to consider swapping to a different estate agent.

Remember to check out the growing number of agency “comparison” sites – such as Get Agent – where you can view the number of properties sold, asking vs. sold price differences and average house sale velocity (speed of sale).

You can then speak directly to the agent to ask more detailed questions to make sure you’re on the same page.

Fast-Track Your House Sale by Selling at Auction

Fast-Track Your House Sale by Selling at AuctionSelling at auction has long been a great way to dispose of properties within stricter timeframes often not possible with estate agency (private treaty) sales.

When using a traditional (unconditional) auctioneer, once the auction hammer has fallen, buyers are legally committed to the sale or face losing a significant sum of money.

This means that the chances of the sale collapsing are very slim. Plus, both the buyer and the seller know exactly where they stand.

Using an auction house also doesn’t necessarily mean that you’ll take a hit on the price.

Indeed, these days, more sellers are open to the idea of this channel and it’s not exclusively for problem properties. In booming times of the market, in particular, it’s common to see prices go well above the guide valuations.

Modern Method (Conditional) Auctions

Over the last decade or so, the emergence of the modern method of auction (“conditional” 56-day sale) has facilitated this change of perception.

Speaking from our own experience, with longer timeframes between exchange and completion, buyers have more time to organise mortgage finance.  The result is often sales prices that exceed what we would typically achieve through our estate agency.

Fast-Track Your Sale with a Sell House Fast Company

Using a professionaFast-Track Your Sale with a Sell House Fast Companyl home buying company is, by far, the quickest and easiest way to sell.

The legitimate firms will exclusively by the property with 100% cash.  This effectively means bypassing the mortgage application and a range of other cumbersome processes.  Where required, they should have the ability to complete the sale in as little as 7 days from when the seller’s pack is sent back to the solicitor.

There will usually be only one property viewing, often combined with a professional survey, and the sale can be kept completely discreet.

Here at Property Solvers, we’ll buy properties in any condition (including unusual and rundown properties).

As it’s a private house sale, there will be no estate agency fees and we’ll cover all your conveyancing fees.  The savings on house sale costs here alone often reach many thousands of pounds.

As a seller, you’ll have the peace of mind that your sale is being dealt with professionally. Provided you work with the right organisation, there will not be any uncertainties such as things falling through.

Below is a broad outline of the general steps a good sell house fast company should follow:

Know Your “Fast Property Sale” Options

Know Your Fast Property Sale Options

A good fast sale company will start by openly exploring your options which may include:

  • Reducing the asking price with the estate agent to attract more serious buyers (provided you have the time);
  • Swapping estate agency (provided there are no contractual restrictions);
  • Approaching a more efficient high street / online estate agency;
  • Exploring the auction route;
  • Should you be in some form of arrears (or need to stop repossession), discussing a payment “holiday”;
  • Swapping your mortgage from repayment to interest only with your mortgage lender (and pay lower monthly payments).

Provide Evidence of Membership to Regulatory Bodies

Provide Evidence of Membership to Regulatory Bodies

Property Solvers is held fully accountable to a number of regulatory bodies including:

  • The Property Ombudsman (TPO code of conduct)
  • The National Property Buyers Association (NAPB)
  • UK Trading Standards
  • Anti-Money Laundering (AML) Regulations
  • The Information Commissioner’s Office
  • NAEA PropertyMark

We are also the only quick home buying company in the UK that has its own Code of Ethics and Practice.

As our reviews show, you can rest assured that we’re many miles apart from the countless quick house sale scam firms out there.

Provide a Guaranteed Fast Sale Offer

Provide a Guaranteed Fast Sale Offer

The property buying company will usually request information about your home’s specifics (usually over the phone).

The firm can then engage in research (also known as due diligence) and get back to you with a “desktop valuation”. This is usually an initial valuation that will be confirmed once a representative from the firm has viewed the property.

Note that if there are extensive refurbishment works required or other issues, the firm may request a professional RICS survey.

You should then receive a confirmation cash price offer – typically via email and/or letter in the post. The company should appreciate that this is a major decision and not place any undue pressure.  You are more than welcome to make independent enquiries and also check any credentials via Companies House or the other regulatory bodies mentioned above.

At this point, even if you are still making your mind up, you should also not be afraid to request proof of cash funds (via a bank statement or letter from an approved solicitor). Don’t be afraid to ask for any evidence that will prove that the company will be able to fulfill its promises.

Make Sure the Fast House Sale Company Will Not Drop the Price Just Before Exchange of Contracts

Remember also to check that the fast property sale company will not drop the price at the last minute (between exchange and completion for example).  This can happen after they initially offer a “teaser” valuation.  This, sadly, remains a fairly common practice in our industry. 

Exchange and Complete the Sale Within the Agreed Timeframes

Exchange and Complete the Sale Within the Agreed Timeframes

Assuming you are happy to proceed, the direct buying company will confirm the dates for exchange and completion.

The quick sale process usually starts with the home buying firm instructing solicitors and producing a Memorandum of Sale.

Your appointed solicitor will send a “sellers pack” which contains a number of property information forms. to fill  These should be sent back as soon as possible.

If you are aiming to exchange quickly as a cash sale, fast postal delivery and/or online services may be used to ensure the entire process is undertaken in a streamlined manner.

Good fast sale companies are able to undertake this process in as little as 7 days and will ensure that all associated legal expenses and any ancillary costs are covered.

Provide a Post Sales Service

Provide a Post House Sale Service

The solicitor will send a contract (TR1) to sign.

Note that professional fast sale companies, bar exceptional circumstances, should be able to ensure that the sale moves forward within the set deadline regardless of any issues.

At the point when the property is formally transferred to the buyer, any proceeds of sale will be placed into your account on the same day. Once the sale is complete, there should be no fees to pay.

A reputable fast sale company will also be able to assist with any plans you have made.  They should help deal with any unexpected problems once the sale is complete.

Contact Property Solvers – the UK’s Leading Sell House Fast Company

For a no-obligation discussion to explore the fast sale of your home, or to simply run through your current options, please call Property Solvers 24/7 on 0800 044 3733.

Alternatively, you can email us at with any questions.