Do you want to sell your house in a short time? Well, there are several ways in which you can sell the house, but the quickest one is to choose thepropertybuyingcompany.co.uk. The mission of such companies is simple, i.e., to eliminate your hassle of selling the home and covering all the charges. Besides, the importance of such companies comes into the picture when you have to sell houses at different locations.
Many property buying companies have become trustworthy as they provide reliable solutions and offers to the sellers. Unlike the estate agents, the company charges no fees for its services and completes the sale in probably seven days. Besides, these companies buy any house, in any condition, and at all locations. Moreover, the property buying companies pay the best prices in the market with cash offers in less than 24 hours, and that too under no obligation.
The house buying companies know well that selling the house is a big decision for a person. So it is their motive to help you sell your house as fast as possible, i.e., less than a period of seven days. Apart from that, there are several benefits of hiring a house buying company as they provide you guidance related to the process of selling the houses quickly, finding popular locations to get the right buyers, and various other information.
In this article, we will look at different methods of selling houses quickly so that you can have multiple options ready in front of you.
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What are the different methods of selling a house quickly?
If you want to sell your house traditionally, the first step you might take would be to call an estate agent. But with the development of industry, there are a lot of options provided to you to sell your house, especially when you are planning to sell it fast. Now, there are two questions that will come to your mind- what are the options available to you to sell the property, and what is the fastest option among all those available.
Open Market
You will be going to an estate agent in case you use this route to sell your house. The agent will advertise your property to all the potential buyers that he is connected to. The better the connections of your agent, the faster your house will be sold. Apart from marketing and selling the property, the estate agent will deal with the paperwork, monitor the chain of buyers selling their old property and sellers buying their new property.
The buyers offer a price for the property based on their estimation of its worth, and this is mostly a bit lower than the asking price of the seller. The negotiation takes place between the buyer and the seller, and once the offer gets accepted, the memorandum of sale is drawn. The estate agents usually make sure that all the legal documents relating to the property are in place so that the deal gets tied up correctly.
The estate agents take a commission of nearly 1% of the sale price of the property.
Part Exchange
The part exchange scheme has been in the property world for quite some time. In this scheme, you need to trade the value of your property against the newly built property. Thus, your property will serve as part of the payment for a newly built house. The difference in this scheme is that the property developer takes the position of an estate agent.
One of the reasons why sellers like part exchange schemes is that the sale of their house is guaranteed. Any person that’s been stuck in the property chain which hasn’t moved for months will know the misery it causes. In such cases, choosing a part exchange house scheme could be the right answer. Besides, this selling method will surely be appealing to those who want to sell their house in a short time.
You need to remember that the terms and conditions of each part-exchange scheme can vary, so you need to look closely at the information before going ahead. Also, understand that in part exchange scheme’s transaction, the developer mostly values your property at a price that is 20-30% lower than its current market value. They do this by considering all the defects of the property.
Auctions
Selling the property through auction is a better option for those who have an issue relating to their property. The issues might be anything like a tenanted property or any other structural damage. Usually, these kinds of properties get sold at prices that are below their market prices due to related issues, but once you auction such property, the bidding might work out in favor of the seller.
Usually, the auction requires the buyers to deposit a 10% price immediately at the time of sale and deposit the further 90% within a further period of 28 days. But at some auctions, the buyers may pay 10% of the deposit immediately as non-refundable fees and take an option for exchange for a period of further 28 days and a period of 28 days more to complete the full payment of the transaction.
Home Equity release scheme
If you are aged between 55-65 years, and you have mortgaged your house, you have an option to release your property without the requirement to sell it. An equity release scheme is beneficial to you if you wish to release some funds for your holiday home or to save some money for your retirement.
There are basically two types of equity release schemes:
LifeTime Mortgage
Under this scheme, a lump-sum amount is provided to you against the property, which you can pay off or let the interest accumulate, which will be recovered from the property value after you die.
Home Reversion
Under this scheme, the provider will buy either a part of the whole of your property and will not access any right to it until you die. You can live there without paying any rent till you are alive.
