| This article will look at the different options | | | | need to understand that they are only likely to |
| available to someone who needs to sell their | | | | get up to 80% of the properties value - |
| property quickly. | | | | sometimes a lot less. Of course you can set a |
| If you need to sell your property quickly there | | | | reserve so you don't have to accept offers |
| are various options you can take. The 4 main | | | | below a certain level. You also need to be aware |
| options are: | | | | that there a auction house fees of 2.5% normally. |
| 1. Sell via an estate agent | | | | The advantage is that after the auction takes |
| 2. Sell privately | | | | place the sale is normally completed in a month (if |
| 3. Sell via an auction | | | | the reserve has been met). It will normally be 1-2 |
| 4. Sell to a cash buyer or specialist home buying | | | | months after you contact the auction house that |
| company | | | | the auction will take place to allow for marketing |
| Which one you chose will normally depend on how | | | | the property and potential buyers to carry out |
| great your need is to sell and the price you need | | | | due diligence. So in total you would be looking at |
| to achieve. Although estate agents are normally | | | | 2-3 months to sell via this route. |
| the best solutions when you have 6 months to | | | | Selling to a specialist home buying company is a |
| wait until your property is sold they do not suit | | | | viable alternative to an auction house. The |
| people who need to sell their properties urgently - | | | | advantages to this method is that: |
| i.e. in the next 1-8 weeks. Selling via an Estate | | | | 1. The whole process from contacting the |
| Agent normally 4.5-7 months and then there is a | | | | company to completing the sale can be done in a |
| 1 in 3 chance of a broken chain which means | | | | month or quicker. |
| starting all over again. Even if you put your | | | | 2. There are no estate agent or auction fees |
| property on the market a big discount it is still | | | | 3. Legal fees of £500 are normally |
| likely to take you a lot longer to sell this way than | | | | paid for you (which normally covers them all) |
| via an auction house or through a home buying | | | | 4. No Home Information Pack required |
| company (where you are likely to get a similar | | | | 5. The sale is guaranteed once you agree on a |
| price). | | | | price |
| Selling privately is often not the best solution if | | | | 6. You have more control over the price as this is |
| you need to sell quick. In fact it is often the | | | | negotiated directly with the buyer. If you are not |
| worst. By selling privately, I mean doing your own | | | | happy just walk away with no money lost. |
| advertising in newspapers and online. People use | | | | The price you will be offered from an a specialist |
| this method to save on estate agents fees | | | | homebuyer is normally between 70-80% of the |
| normally but it is normally counter productive | | | | properties value. This is similar to what you would |
| when you have time to sell, never mind when | | | | expect from an auction sale although you don't |
| you need to sell quick. It is unlikely enough | | | | have any fees and it is quicker. |
| potential buyers will see the property, particularly | | | | So if you need to a quick sale consider a |
| the ones able to buy it quickly. | | | | homebuying company or an auction. If you are |
| Selling via auction is a good option for people | | | | not in a hurry use a good estate agent. |
| needing to sell quick but those selling this way | | | | |