How to Sell My House Quickly for a Good Price [Updated December 2019]
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How to Sell My House Quickly for a Good Price

In this post, we look at some of the realities of selling a house in the current market, the importance of being realistic and where prices may be heading as we move through the last month of 2019.

We also ask whether Brexit may influence your home’s value and why more landlords are selling up.

Finally, if you’re looking for a quick house sale, check out the last section which goes into how you can get the best price.

Sell Your House Quickly

Selling My House in the Current Market

Selling Your House in 2019 If you’re selling your house, or if it’s been up for a while and still hasn’t sold, you’ll probably have a number of questions…

  • Is my house priced correctly?
  • Should I drop the selling price?
  • What’s going to happen to house values in my local area?
  • Maybe I should take my house off the market?
  • Should I look for another house if mine hasn’t sold?
  • How can I sell my house quickly?

Property Solvers spend many hours every month helping homeowners answer concerns about selling their house.

There’s never a ‘one size fits all’ approach.

We always assess each situation on its own merits with the aim of getting people the best outcome.

Will The Value of My House Go Up or Down?

Unfortunately, there’s no simple answer here…

We usually start by encouraging people to take a ‘birds-eye’ view of what’s happening in their local housing market.

Buyers sentiment, supply/demand, the desirability for houses on your street and a range of other factors can all influence what can happen with a sale.

The good news is that it’s never been easier to check house prices in your area for yourself.

At the same time, we would encourage you to not get too caught up in the detail and end up in a state of ‘analysis paralysis’.

Sometimes, simply taking some action will help you sell your house.

Be Realistic About the Value of Your Property

We have long realised that working out a property’s fair valuation is not an exact science.

Homes on any given street can vary hugely in terms of size, age, character etc.

For example, it would be fair for you to ask for a higher price if you have a larger garden, floor space or have added an extension.

The level of quietness and proximity to good schools, shops, transport, healthcare and other essential services also come into play.

However, whilst the technology to track house price data is improving, your selling price may be open to debate.

You may find one estate agent saying ‘you could get more for that with me’, and then another saying ‘I think it’s priced way too high.’

It’s frustrating, we know!

Our advice is to use the data that’s out there plus some common sense to get to a realistic value.

House Valuation ToolsOur post on house valuation contains simple explanations on how to use a number of free online sold price checker tools.  Remember to focus on the facts, not the hearsay!

Of course, speaking with knowledgeable estate agents is important.

But be wary of those that overprice property and raise expectations to win your business.  You’ll find that the end result is often disappointing.

UK House Prices (as at December 2019)

Property prices cannot be looked at through one lens.

For instance, since the 2007-08 recession, values across Greater London and the South East grew massively – which wasn’t the case in much of the North and the Midlands.

Yet, tracking five of the main house price indices, the graph below shows that average values always have grown steadily since the start of the century:

National House Prices (Updated December 2019)National House Prices (Updated December 2019)

Most commentators agree that the market will be slow as we move through 2019.

There may even be some drops in certain areas, especially London, but nothing like the crash of 2007/08.

Mortgage interest rates will stay reasonably low meaning that buyers will be less afraid to make higher offers for your house.

It’s also well-known that there is an undersupply of housing which is keeping prices up.

Although the government’s Help to Buy scheme has been criticised for not attending to the right people, its continuation will support house price growth.

On the flip side, there are a number of reasons to not be so cheerful…

More and more young people find themselves pushed out of the market (especially in the south).

Although the government removed Stamp Duty for first-time buyers, the deposit youngsters have to put down these days is often well beyond their means.  The majority cannot get help from the ‘Bank of Mum and Dad’.

Many observers think that prices need to drop to make things fairer.

Then, of course, there’s the unavoidable question…

Will Brexit Affect House Prices?

Will Brexit Affect House Prices Again, this isn’t an easy one to answer.

We all hope for more clarity on our future relationship with the EU but, with the endless political wrangling, this often feels like wishful thinking.

As a result, it’s more likely that a certain degree of economic uncertainty will remain for the time being.

Much will depend on this month’s General Election and whether Boris Johnson wins a clear majority.

If this happens, then it’s fair to assume that the UK will leave the European Union under the terms of the negotiated withdrawal agreement.

As a result, although many may disagree with the outcome, some stability may well be restored.

Yet, when it comes to the direction of house prices as a result of Brexit, nobody really knows.

From a broader standpoint, we plan to pay close attention to the value of the Pound (£).

Should it weaken and fuel inflation (especially in a ‘no-deal’ scenario), the Bank of England may be forced to raise interest rates.

These would then filter into the mortgage market and slow things down as buying won’t be so easy.  Those on variable or tracker mortgage rates will also feel the sting of higher monthly outgoings.

Some of the telltale signs of a slowing market in your local area include:

  • More FOR SALE than SOLD signs;
  • Fewer properties updated as SOLD Subject to Contract (STC) on the main portals (you can also check the date they initially went to market);
  • Tools like the Property Log Chrome extension and our own local house market insights pointing to downward price trends;
  • Estate agents sounding negative about the market or saying that ‘everything’s fine’ when they have lots of unsold properties on their books;
  • Evidence of falling prices registered at the Land Registry (we would recommend using the Rightmove sold house price tool or the Land Registry’s House Price Index itself to check this).

If your house is on the market and not getting much attention, you may struggle to sell if you’re not willing to negotiate.

Alternatively, it may make more sense to keep hold of the property, especially if you can cope financially.

Indeed, more people have also been extending their homes, especially when they have Permitted Development Rights (PDRs) and don’t have to seek full planning permission to do so.

If you’re not a landlord, you may want to skip this next section by clicking here.

Selling My Rented Property for a Good Price

Selling Your Rented Property in 2019 In recent years, Property Solvers have been speaking to more landlords asking: ‘should I sell my house given all the challenges facing the buy-to-let sector?’

The response we provide really depends on individual circumstances.

For example, some are simply looking to release built-up equity for personal reasons.

If there’s no major rush, we usually suggest refurbishing the property to get the maximum value (although it’s worth using our calculator to see whether it’s easier to sell ‘as is’).

But for the others, the onslaught of legislation and regulation hitting the sector in recent years has meant that a more urgent solution is required.

The most notable pain point facing many landlords at the moment was instigated by former Chancellor George Osborne…

Section 24 of the Finance (No. 2) Act 2015

Section 24 (sometimes referred to as Clause 24) is a piece of legislation that effectively taxes landlords on their revenue, not their profits.

In 2019, the screws have been getting even tighter.  Landlords are only able to deduct 25% of their mortgage interest costs against gross rental income.

On the bright(ish) side, there will be a mortgage cost credit of 20% applied – even when the full force of the legislation is rolled out in the 2020/21 tax year.

Also, the impact of any tax change will only be felt in the following year (when the tax is owed to the HM Revenues & Customs).  So the tax for the financial year 2019/20 will be due in January 2021.

At most risk are the landlords who have high levels of secured debt against their properties as well as those in the higher tax bracket.

Taken from our guide to selling a tenanted property, the table below assumes that Landlord A and Landlord B own very similar properties.

The values of both rental properties are £100,000.  With a rent of £600 per calendar month, the gross yield is 7.2% at the point of the full effect of Section 24 in 2020/21.

Section 24 Finance (No.2) Act 2015 - Impact for LandlordsSection 24 Finance (No.2) Act 2015 - Impact for Landlords

You can see that Landlord B, as a higher rate taxpayer, will incur a 50% decrease in net profits once the legislation is fully in place.

The above assumptions also do not factor non-mortgage interest costs such as voids, legitimate running expenses and other holding obligations.

These overheads will still remain fully tax-deductible against gross rental income (revenue).

Other Landlord Risks in 2019

Section 24 comes part of a broader array of top-down measures that are making the average landlord’s life more difficult.

The Prudential Regulation Authority (PRA) stress-testing criteria, for example, is placing further controls on the amount of mortgage finance a buy-to-let landlord can secure against a property.

Combined with higher stamp duty rates to acquire buy-to-let properties and more omnipresent regulation, the barriers to entry have never been higher.

If you are thinking about selling, however, make sure you seek suitably qualified advice from an experienced tax advisor beforehand.

Sell My House Quickly For a Good Price

Sell Your House Quickly For a Good Price in 2019

Going through the house sale process is stressful and frustrating – especially if you’re in a rush to get things sorted.

But always remember that you are always in the driving seat.  You ultimately don’t want to make any decisions you’ll regret down the line.

Should You Use a Quick House Sale Company?

The reasons that you may be thinking of approaching a quick house sale company may include:

  • A need for a quick completion on a set date;
  • A buyer has pulled out (broken chain) or there’s concern about the certainty of sale;
  • You have mortgage arrears or you’re being threatened with repossession (see our repossession guide here);
  • Your property is in a bad state and will struggle to sell on the open market;
  • There are underlying legal issues that put off most buyers;
  • The estate agent you’re working with is doing a bad job;
  • You’re looking for a clean break and want to keep the sale private.

Much will therefore depend on your own situation and how urgently you need to sell.  But fast house sale companies often work well for those who want to deal with a serious buyer on a one-to-one basis.

Here links to other blog posts we’ve put together about selling your house quickly:

Sell My House Quick – Know Your Options

Decent quick sale companies will always take the time to listen carefully to your situation.  You may be in a rush, but always take the time to carefully consider your options.

For example, you may want to look into the following:

Reducing Your Asking Price – If you are tied into a long-term contract with the estate agent and haven’t been getting many viewings, adjusting the price usually gets the momentum going.
An Express Estate Agency Sale – You can use the Property Solvers express sale service, for example, and get the full market value on the open market in under 28 days (with no tie-in contracts or up-front fees).
Sell My House at Auction – Although the process can take longer than people expect, this can be a good way to sell your property with more certainty. See our guide on how to sell your house at auction here.
Changing the Payment Terms of the Mortgage – Swapping from a repayment mortgage to an interest-only mortgage can give you some ‘breathing space’ to then make a decision down the line.
Payment Holiday with Your Lender – We normally suggest this route if you are facing financial difficulties, although you should make sure you understand the long-term consequences.
Renting Out Your Property – Provided you have another place to live and it makes financial sense, holding on to your property means you can cover your costs and benefit from the long-term value growth.
Taking Out a Bridging Loan – In certain situations, this type of loan can be used to your advantage.  However, be well aware of the extortionate rates of interest and other risks involved.

Sell My House Fast to Property Solvers

As full-time and experienced professionals in the industry, we pride ourselves in having a detailed insight into the market.  This means we can help clients achieve what they want and, in most cases, find a suitable solution during our first phone call.

Considering the growing evidence of scams, we are also very keen to differentiate ourselves from others in our industry.

Anyone who contacts us will receive honest and up-front assistance before we even mention how we work as a company.

For those interested in our services, we’ll then discuss both our quick cash sale and express home sale options.

Quick Estate Agency

If you’re actively looking to sell your house, you may have already approached some estate agents in your local area.

Or perhaps you’ve thought about using online operators like Purple Bricks and Yopa.

With so many options out there, making the right decision can seem a little daunting.  This is probably the largest sale you’ll have to deal with in your lifetime and not to be taken lightly.

This section goes into why we’re confident that the Property Solvers Express Sale service will get you a successful sales outcome.

We’re Experienced in the Area

Our team have been working in house sales for over 17 years.

Over this period we have bought and sold properties 100s of times for ourselves and have developed a unique understanding of the market.

This first-hand experience enables us to offer you a better service than other agents.

Offers in 28 Days

We take our experience of working in the quick cash sale industry to get you the full market value of your property within a month.

Our experience across the region has taught us that the best time to sell a house is within the first 2 weeks.  This is when the buzz and excitement are at their peak.

We’ll pitch the asking price at a level you’re completely happy that will still generate a lot of interest and the get offers to roll in.

House Market InsightsCheck out our Local Market Insights tool to see long properties are really taking to sell and see what the average difference is between asking and selling prices.

You can also see regional data specific to your area to see how your postcode compares with others.

No Tie-Ins to Our Contracts

You’ll probably find that most agents want to tie you into a contract for at least 3 months.

Property Solvers are so confident about our service that we won’t put you in such a position.

We usually request for us to have 28 days but, if you’re not satisfied with us, you can leave with no questions asked (not that you’ll need to!).

No Sale, No Fee

You may have noticed that many modern estate agents want an up-front fee.  Although the total costs end up cheaper, you’ll often find that you’re tied into a contract without any guarantee of a sale.

Here at Property Solvers, we believe that we should work hard for you before taking any money.  It somehow doesn’t seem fair to take any kind payment up-front or trap you into something where you’ll end up paying us if we’re not successful.

For this reason, in the unlikely event that we don’t sell your property, you won’t pay us a penny!

Tech-Driven with the ‘Personal Touch’

We are continually developing our back end systems with state of the art technology to minimise friction and speed up the process.

But this doesn’t mean that you’ll be speaking with robots!  Our sales team always makes itself available to deal with enquiries – even evenings and weekends.  Feel free to test our 24/7 number on 0800 344 3797.

Top-Notch Photos, Floorplan and 3D Tours

We’ll produce high-resolution photos and a floor plan and, if you so desire, only publish once you’re completely happy with how things look.

For those that choose our Premium package, we’ll include a full augmented reality tour of your home.  This means that potential buyers can get a good feel for your property from the comfort of their own home.

Wide Online Exposure

We’ll get your property excellent exposure – above and beyond what’s offered through local estate agents. We’ll market your home on all the major portals including Rightmove, Zoopla, Prime Location, House Ladder, Net House Prices, Mouseprice, Home.co.uk and many more (see where we advertise).

Those that use our Premium package will also benefit from having their properties featured on Rightmove and Zoopla.

Express House Sale - Sheffield and South Yorkshire

A Bright, Impactful ‘For Sale’ Board

Our impactful ‘for sale’ boards can be seen from a long distance away.  They’re also visible on darker days and in the evenings.

Every board has a freephone number for people to book viewings and request information.

24/7 Estate Agency Service

We run an enquiry line and online chat service 365 days of the year.

This means we never miss a beat when it comes to organising viewings, dealing with questions and handling any possible situation that could arise.

Accompanied Viewings

We use our professional viewing experts to show prospective buyers around your property.   They are available evenings and weekends and can be conducted with or without your presence.

We’ll follow up every viewing with instant feedback (via email and/or phone call).  Our sales staff will then be available to deal with any questions or open up the negotiation process.

Deal with Serious Buyers Only

Experience has taught us how to avoid ‘time wasters’.  We’ll check the credentials of any offer before allowing the sale to proceed.

Typically we make sure the vendor has an up-to-date and valid mortgage in place.  We also confirm that they have the deposit ready to buy your house.

We usually suggest that sellers stay away from a chain sale, but sometimes there’s not much choice – especially in higher value areas.  In such cases, we will regularly check all aspects of the chain and help the solicitors deal with any issues.

We sometimes also ask for a non-refundable deposit, especially when we sense that a buyer is not committing.  This usually ‘sorts the wheat from the chaff’!

Full Communication and Weekly Reports

Having sold houses through other agents in the past, we became frustrated with the ‘set and forget’ attitude after we signed up.  We found it hard to get updates and clear answers without being pushed from pillar to post.

These negative experiences have taught about the importance of dealing with queries whenever our clients need them.

We’ll also send over a weekly report which has data direct from Rightmove and Zoopla so you can see the kind of interest your property is generating online.

Complete Sales Progression

It’s easy to think that everything is done and dusted once a sale is agreed.   In fact, quite the opposite is true.  Mortgage issues as well as problems with the title, searches, surveys and contract drafts can all crop up as the sale goes through.

Most of these problems can be overcome, but not without being proactive.  We will make regular checks with the solicitors and be available to deal with any issues you need us to.

Property Solvers are also happy to put you in touch with the solicitors we use for our private sales.  We have used them for many years and they’re reasonably priced.

We’re also completely available to help you with the legal documentation or if you need ‘hand holding’ throughout the process.

Express Estate Agency Our Online Estate Agency blog post explores some of the industry realities, valuing your house for a fair price and the benefits of using an express sale service.

For a short introduction to how we work, check our introductory video below:

Please call us anytime for a friendly, no-obligation chat.  Our freephone number 0800 044 3733 is open 24 hours, 7 days a week.

Alternatively, you can visit our main website, leave your details in the contact box or email us at info@propertysolvers.co.uk.