Fast way to sell house

jeanie49

Does anyone know of a fast way to sell house? Been up for sale since February 2013, and no interest. Is it worth approaching any house buying companies that advertise to buy house quickly?

somethingcorporate

No. It will sell for the right price.

Post a link here and let the regulars have a look at it. If it's well presented and at the right price it will sell.

Davesnave

This question is asked every week.

The answer is....no free lunch.

The quickest way is auction.

Why didn't you reduce your house to a level where it would sell?

eddddy

jeanie49 wrote: »

Does anyone know of a fast way to sell house? Been up for sale since February 2013, and no interest. Is it worth approaching any house buying companies that advertise to buy house quickly?

Hi jeanie

I'm sure you will get lots of differing opinions on this, but here's mine.

If your house isn't selling, it's probably because it's priced above it's market value. So you need to reduce the price.

House buying companies exist to make profits (like just about all other companies). A way they do can do this is by buying houses below market value, and then reselling them at market value.

So I think the short answer is to talk with your EA about how much you need to reduce the price by to get a sale. Whatever that price is, it will be more than a house buying company will pay.

pinkteapot

Auction is the quickest way but will get you the lowest price.

House-buying companies are probably next quickest but will also get you an extremely low price.

Drop the asking price far enough and it will sell. And certainly for more than you'll get from a house-buying company.

Any house will sell at the right price. If you've had no interest in all that time it is overpriced. There's no two ways about it.

Davesnave

The bottom lines are do you need to sell, and if so, can you do it at a price where you can move on? Negative equity isn't something house buying companies or those posting here can solve, but if we don't know anything about you, your reasons for selling, the market you are in, what your agent says and so on, it's hard to advise.

Putting a link to the property's advert here will result in many suggestions, some of them useful, which might help you to generate some interest. The price has to be right too, however, for that interest to turn into firm offers.

Sometimes people are trapped for a time by negative equity. In that case, looking at the property itself and seeing if different uses of the space could alleviate problems to some extent, is also worth considering.

Itismehonest

Depending on your area, larger properties do tend to take much longer to sell than the smaller, cheaper ones.

Have any similar large properties sold in your area recently & how do they compare on price?

I live in a large place in a rural area. Nothing has moved around here for years other than small places or those larger homes where people are desperate to sell at any price. One 14 bed place went for under £400K _pale_

Davesnave

jeanie49 wrote: »

We do need to sell. We cannot afford interest only mortgage repayments. House was originally on for £720,000 and dropped twice to now £689,950 for 5 bed detached. Not in negative equity but have £500,000 mortgage.
Had repossession order last year and still struggling to pay monthly payments. Bad credit history so need as much as possible to move to a new house with 2 children.
Live in Northwest so property of higher value isn't moving too quick here.
So desperate to sell!!!!

OK, you have dropped less than 5% of your original asking price, if my maths is right.

You are speaking to someone who dropped around 16% in order to sell a few years ago.

Outside London and the SE, it's still quite common for property to sell for asking price less 10%.

However, if it's any consolation, the quick sale companies will only give around 70% of valuation, so if it was me, I'd still be looking to sell via a normal agent.

Strapped

jeanie49 wrote: »

We do need to sell. We cannot afford interest only mortgage repayments. House was originally on for £720,000 and dropped twice to now £689,950 for 5 bed detached. Not in negative equity but have £500,000 mortgage.
Had repossession order last year and still struggling to pay monthly payments. Bad credit history so need as much as possible to move to a new house with 2 children.
Live in Northwest so property of higher value isn't moving too quick here.
So desperate to sell!!!!

If you're desperate to sell, and have a mortgage of £500k to clear, then you've got loads of "space" between that and £689,950! Drop the price. Do your research re. what else within the area is available. Look at 4 beds as well as 5 (because few people actually need 5 beds; 4 + study or even just spacious 4 would do).

googler

Either the price is unattractive in comparison to whatever else is for sale in your area, or there's something about your house which people find visually unappealling. If nobody is viewing, that suggests the price is wrong. If people are viewing but not offering or buying, that suggests it's something about the house.

Are there any other houses in your area for sale or recently sold that stand as direct comparables to yours? If so, what are the asking and sold prices for these? You can get sold prices from Zoopla.

Dress your house to look better than anything else in your area, and price it competitively.

At the price level you're talking about, there's no reason to be skimping on presentation.

If you're doing the viewings yourself, don't pass on any of the 'must sell, must sell' vibe to the viewers, or you'll scupper your chances of getting the best price....

As poster above said, do you need to clear any finances apart from the mortgage with the sale proceeds?

RAS

jeanie49 wrote: »

Can afford to drop by a small amount but will find it difficult/impossible to get another mortgage due to bad credit etc.
Just don't want to keep dropping price and it won't sell anyway as nobody is buying!!

So whatever you sell for, you expect to move into rented accomodation for a while?

If you feel able, try putting the rightmove link on here for a few days and folk will advise if there is anything you can do to improve the take-up.