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Average time to sell a house
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# 1
g0009348
Old 09-09-2011, 9:07 PM
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Default Average time to sell a house

Hi,

i know its a type of how long is a piece of string but how long should it take to sell a house went its priced to sell.

i.e house value 170k, put up at 165k, accept anything above 162.5k

how long to find a buyer?
how long to complete all paperwork?

i am moving out of the country so need some sort of framework
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# 2
tonycottee
Old 09-09-2011, 9:11 PM
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A house valued at 170k and listed at 165k is not priced to sell...
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# 3
Yorkie1
Old 09-09-2011, 9:14 PM
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It's absolutely impossible to say how long it will take to find you a buyer. Some people price their houses so competitively, in an area which has some level of demand, and an offer might be made within a couple of weeks or months. Some people on here are posting that their house has been for sale for many many months without many viewers and/or any offers.

If you need a quick sale you will need to research how much similar houses to yours have sold for recently and price competitively against that. Buyers will do their homework and see what other places have gone for.

How long to complete the paperwork will depend on part on the position of your buyer once you've accepted an offer - is there a chain, do they need a mortgage? Local searches can take quite a long time. There might be delays while investigations revealed by the survey (either relating to the house or documents) are concluded. I'd estimate minimum of 2 months, probably nearer 3 for a straightforward transaction.
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# 4
ellives
Old 09-09-2011, 9:15 PM
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IMO.....if its really competitively priced and in good order then perhaps a couple of weeks to six weeks?

If it's not the above, then it may stay on the market unsold for a long long time.

The pre-Christmas selling period is upon us but wont last more than another6-8 weeks until it slows down.

Don't wait to price it realistically - do it now. So be sure the 162.5 is truly attractive

If it is on rightmove - be brave and let us take a look. I did, took the advice and sold it swiftly thereafter.

Good luck
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# 5
vickyj
Old 09-09-2011, 9:15 PM
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To give you an idea i part exed my house for a new one they gave me 180 000 which was the "to sell" price from 3 agents. The developer marketed it at 180000 but has accepted 169000 for it only 3 weeks later.
I hope that gives you an idea regarding sales valuations
The glass is always half full, no exceptions !!
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# 6
Yorkie1
Old 09-09-2011, 9:16 PM
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Quote:
Originally Posted by tonycottee View Post
A house valued at 170k and listed at 165k is not priced to sell...
Agree, and looking to achieve 162500 is only a reduction of 1.5% on the asking price. I'd be surprised if you found a buyer who thought that was a good deal for them in what is generally a buyer's market.
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# 7
timmyt
Old 09-09-2011, 9:21 PM
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once you accept an offer, we ensure that our average time is 4-5 weeks. Its about having an actual solicitor acting, who is expereinced to telephone up the chain - like the Agents - and case but also see if they can help/give an opinion.


true a chain is as quick as it''s slowest link, but one solicitor chasing can help.

most dont.
My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.

My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.
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# 8
JingleJangle
Old 09-09-2011, 9:27 PM
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Both my last two sales had offers accepted in days and sales completed within three months. But both were popular style properties (maisonettes and terrace houses) in London. It totally depends where you live.
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# 9
g0009348
Old 09-09-2011, 9:41 PM
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sorry got that wrong, valued at 179, put up at 165 accept 162.5

how about just the phase from somebody putting in an offer me accepting it and to exchange? 8 weeks?
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# 10
Thrugelmir
Old 09-09-2011, 9:47 PM
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Quote:
Originally Posted by g0009348 View Post
valued at 179, put up at 165 accept 162.5
Value is 165k.

Accept the best offer you get in the timescale available.

Over the years time to sell my property (receive accepted offer) over past 30 years...

8 months
2 hours
Part Exchange
7 months
4 months

There's no reason or logic to when a property sells. Right time, right buyer.
"The man who wishes to move a mountain begins by carrying away the small stones first."
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# 11
phoebe1989seb
Old 09-09-2011, 10:45 PM
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Our last sale - three viewings (plus one second viewing), offer made after three days - rejected as they were not in a strong position. Different couple offered after house on market two weeks - accepted.........4% below asking price. Completed within approx 9 weeks of receipt of offer/11 weeks of coming onto market.

Previous sales have taken - 7 months (2007), 5 months (1997), 24 hours (1992)

Agree with previous posters, if it's priced correctly and the right buyer is out there, it will sell
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