Options for Selling My House Fast

There are many reasons why you may wish to sell your property quickly…

Perhaps you need to relocate at short notice for work.

Maybe the house in question has been left to you as part of a person’s estate and is likely to become a financial burden.

It may simply be that you’ve found a new property that you love and you’re keen to free up your finances in order to purchase it.

Whatever your situation, the property market is unpredictable – as are the preferences of potential buyers.

You may find that a house that you thought would receive an offer in weeks is still languishing in the estate agent’s window months down the line.

The question: “how do I sell a house fast?” is a common one, and there are a variety of answers which depend on:

• Your situation
• Your preferences
• The location of your property
• The style of your property
• The current property market…

In this article, we’ll discuss the available options for selling your property quickly – so you can decide the best course of action for yourself.

House Selling Options

The most common approach to selling houses is to choose an estate agent and leave the process to them.

They will usually send a photographer to your property, produce their own description, list the house online and display it in their window.

More often than not, it’s a matter of simply waiting until someone takes an interest in its photograph in the window or its online listing.

Of course, sole reliance on your estate agent will be more or less successful depending on a number of factors. You may need to ask yourself:

• What is the current state of the property market and how will that affect my sale?
• How attractive will my property itself be to potential buyers at face value?
• What is the current standard of the marketing materials created for your property?
• How proactive are my estate agents or property sale company?
• Is there anything I can do myself to increase the chances of selling my house fast?

Below, we’ll provide a little advice on what you can do to improve the chances of selling your property quickly based on these questions.

Selling in a Slow Market

Upon researching the current state of the property market, you may find that it is experiencing a particularly slow period. It’s worth noting that a slump in the market is often followed by a boom – but you may not be able to wait for this to happen.

Improve Your Chances During a Slump

If you are concerned that a slow market is likely to prevent or delay your house sale, it’s doubly important that you take a proactive approach. There are a number of factors you should take into account that will hit extra hard in a slow market. These are:

• The time of year. Of course, you may not have a choice but to sell in December, January or August – but you need to note that these are the most difficult months in which to put your house on the market. The months from February to June are best;
• The house prices in your area. If others nearby have been forced to drop their prices as a result of the market and you fail to follow, you may find it harder to sell;
• Your estate agent’s level of experience. If your type of property is not their forté – or if they’re relatively new and haven’t had to sell houses in a market slump before – it might be worth changing;
• The type of area in which you live. If the market slump is connected to a wider recession and your neighbourhood’s establishments are likely to be hit hard, you may need to accept that your home will be worth less than in more stable times;
• Your own actions. It’s important to stand out when trying to sell a house fast – and the same goes doubly in a slow market. Use social media, local forums and networking events to promote your property in ways competitors may not have considered.

Of course, whatever the current behaviour of the property market, there are always certain things you can do to improve your chances of selling your house quickly.

How Do I Get Rid of a House That Won’t Sell?

Whether you’re struggling to sell as a result of a slow market – as discussed above – or you simply feel that your house needs something of a push to grab the attention of potential buyers, here are a few actions you can take.

• Refurbish your home;
• Improve or add to the way in which your home is promoted;
• Lower the asking price of your property;
• Change your estate agent;
• Use a specialist in quick property sales or a home buying company.

We’ll look into these options a little further below.

Refurbish Your Home

Even the slightest cosmetic upgrade can work wonders for the perceived value of your home. A few simple and affordable adjustments you can make to a property before putting it on the market include:

• Adding or upgrading décor, including painting over scuffs and scratches on walls;
• Weeding, pruning and mowing outside spaces and painting or treating wooden fences and outbuildings;
• Deep cleaning carpets, polishing furniture and wood floors and ensuring that unique or period features are the focal points of each room;
• Removing clutter from rooms and clearing out storage areas, sheds and garages, making spaces appear larger
• Improving kerb appeal by cleaning or painting window frames, hiring window cleaners and removing litter from the surrounding area

The term kerb appeal applies to the impression your home’s facade give to potential buyers – and it’s extremely important, as most people decide how they feel about a home within eight seconds of first seeing it in person!

Furthermore, if your property’s interior is clean and clear of mess, potential buyers will find it easier to imagine themselves living there and to picture any changes they’d make to the layout or decoration.

Improve or Add to the Way in Which Your Home is Promoted

While a good estate agent will work hard to ensure that your property is seen by as many potential buyers as possible, there’s also a great deal you can do yourself to help the process along.

Options include:

• Setting up your home perfectly for promotional photographs
• Hiring a photographer of your choice or
• Taking the photos yourself
• Sharing information about your property on social media and other platforms
• Attending property networking events

Photographs

Images are highly powerful tools when it comes to quick house sales, and most estate agents have go-to professional photographers who will visit your property and capture visuals that will be used to sell it.

These pictures will be used for your home’s online profile, in the estate agent’s window and in the brochure that is produced to share more in-depth information with potential buyers.

In order to ensure that any photographs taken of your home are the best possible quality, you’ll need:

• A bright, clear day
• The right time (when the greatest amount of sunlight is hitting your home)
• Clean and tidy rooms
• Attractive decorations
• Open curtains and blinds (improving the flow of natural light)

This approach makes rooms seem big, light and attractive to buyers.

Many estate agents even allow you to hire your own photographer – or even take the pictures yourself if you are confident that you can produce the right images. This may be your preferred option if you want to have a little more control over how your home is displayed to the public.

Social Media

While your chosen estate agent or property sales specialist will have their own contacts and connections to use when advertising your property, there may be a number of platforms to which you have more significant access.

Social media, for example, is a great tool for promoting your house.  Most good agents should have videos and other promotional material that you can use for yourself.

By sharing your property’s profile on platforms such as Facebook and Twitter, you may be able to reach friends of friends who have been looking for a home just like yours. Including the local area as a hashtag will help you to reach even more potential buyers.

Lower the Asking Price of Your Property

It’s something you may not wish to consider straight away, but the reason you have not yet sold your house may be that you are asking too much for it.

When you choose an estate agent or specialist property sales company, you’ll usually receive a free valuation – after which you will be informed of a sensible price range for your home. 

Many people decide to list their house at the higher end of this range – and it’s understandable to aim for a profit. However, if you need to sell your home fast, you should consider whether to reduce the asking price to be closer to the bottom end of its perceived value.

Remember to Check How Other Houses Compare With Yours

In order to make an informed decision on this subject, you could look out for other homes for sale in your local area that are similar to yours in: 

• Style and how modern the finishing is
• Size of room
• Number of reception rooms
• Number of bedrooms
• Garden / extra land
• Garage / off-street parking
• Positioning on your street
• Condition (age of bathroom and kitchen, for example) 

If these properties are on the market for considerably less than yours, you may need to lower your price.

Change Your Estate Agent

It may be worth checking in on your estate agent every week or two, either in person or by sending an email to find out what progress has been made.

You may decide to change estate agents if you discover that your current agent:

• Has received no interest or offers on your property over an unacceptable period of time
• Shows little interest in improving their performance
• Is inexperienced
• Seems to prioritise properties in other areas
• Does not specialise in properties like yours

Use a Specialist in Quick Property Sales or a Home Buying Company

You may opt to use a company such as Property Solvers – who specialise in selling your home quickly or purchasing it for cash. 

If you do so, you’ll usually be faced with the two options below.

Estate Agency Sale or Cash Sale

Certain property specialists allow you to choose whether you’d prefer to sell your home to a buyer or to the company itself. Below, we’ll provide a little more information about what each of these options involve.

Sell for Market Value

One of the easiest ways to ensure that you can find a buyer for your property in a very short space of time is to list it with a company that specialises in fast turnovers. Often, these organisations can connect your property with a buyer within a month.

Of course, you can choose to follow the typical estate agent route if you wish to sell your property for market value.  Here at Property Solvers, we have our own 28-day estate agency service that may be of interest.

As we have mentioned previously, you may take actions that will have a considerable impact on the speed of the sale.

Sell  for Cash 

This is perhaps one of the lesser-known options for selling your house – but it may also be among the most effective in terms of speed and efficiency.

If you select a company that allows you to sell your home for cash upfront, there will be no need to wait for a seller to express interest.

Property Solvers offers this option, which removes the stress and hassle from the process and provides a secure platform without the involvement of estate agents, mortgages or legal fees.

Selling to Family

You may consider selling your property to your son, daughter or another family member for a reduced price in order to quickly get rid of the house and help them get onto the property ladder.

Can I Sell my House to my Son for Half its Value?

While this is a fine idea, in theory, there are a number of snags you might hit – for example, there will be tax implications and other financial risks, which may include:

• Inheritance Tax
• Stamp Duty Land Tax
• Capital Gains Tax
• Local Council Tax
• Income Tax (if you remain in the property and pay rent to its new owner)

The difference between the market value of the property and the price for which you sell it to your family member will be considered a financial “gift” and is therefore taxable.

Your family member may also be refused a mortgage for the property, as many banks and building societies will not lend if the parties involved are related.

Can I Sell Half of My House to the Bank?

Yes, it’s possible to opt for a “home reversion”, which is a type of equity release scheme allows you to sell a portion of your home to a company such as a bank. You’ll then be permitted to continue living there rent-free. 

Benefits and Drawbacks of Home Reversion

There are a number of reasons why you may choose to do this – for example, you might wish to free up some cash to purchase another property but still be able to stay in your current home while you refurbish the new place. 

Using this approach, you will quickly receive a lump sum to the value of the portion of the property you have sold.

However, it’s a risky approach and you should always seek financial advice before going down this route. This is because you may be required to pay for:

• All necessary maintenance
• Legal fees
• Arrangement fees
• Valuation fees
• Fees for advice

Furthermore, you won’t be able to leave the full property to anyone in your will. 

The Best Way to Sell 

As you’ve seen, there are numerous ways to ensure a fast house sale. It’s up to you whether you wish to sell your home to a buyer or to a company, and you may prefer one or the other depending on your circumstances or priorities.

If you want to make a profit at the same time as securing a quick sale, you may wish to use an estate agent or fast property sales specialist while taking it upon yourself to make your home as attractive and well-promoted as possible.

You’ll achieve the quickest results by:

• Improving the appearance of your home
• Thoroughly promoting your home on various platforms
• Reducing your asking price
• Selecting an estate agent with the best experience and expertise
• Choosing a property company which specialises in finding a buyer fast

However, if you simply wish to cut ties with your old home by selling it for cash, you’ll benefit from:

• Using the fastest possible option (the turnover can take as little as a week)
• A stress-free process
• No estate agents or complicated chains
• No legal fees
• Total security of your sale

Whichever option you choose, following the above advice will help you to secure a quick house sale and move on to your next venture with as little hassle as possible.