Like you, every property is unique, so we’ll just need a few details before we can make you an offer.
How long does it take to sell a house?
On average, it takes about 6 months to sell your house. That’s 2 months for a buyer to find your house and put an offer in, 2-3 months from the exchanging of contracts to closing, and a month to finalise everything, but this can vary.
A question that so many homeowners ask when they’re looking to sell their property, 'How long does it take to sell a house?'. Whilst there isn’t a concrete answer as it depends on how you are selling your house, We Buy Any House have got some answers for you.
On average, it takes about 6 months to sell a house. That’s 2 months for a buyer to find your house and put an offer in, 2-3 months from the exchanging of contracts to closing, and a month to finalise everything, but this can vary.
What slows down a house sale?
There are several factors that can delay your house sale;
1. A fluctuating property market
There are lots of external factors that influence the property market, such as political events, demand, and the economy in general. If your area has a lot of other houses for sale that you’re competing against, it is usually harder to sell your house unless it really stands out from the crowd. The property market has its ups and downs, and selling on a down period will be harder, therefore taking longer to finalise your sale.
Ideally, you want to sell your house in a seller’s market; when lots of people are looking to buy a house. A buyer’s market is when sellers will have to be more competitive and therefore lose out- there are fewer sellers looking to buy so you usually have to lower your selling price to get a sale.
2. The location of your house.
Your house tends to sell faster if you’re based in a good area. If your house is in an area with low crime rates, plenty of amenities, good schools and free parking, you’re more likely to attract buyers than if your house is in an area without these factors.
It’s key that the asking price for your house reflects the area. A house that’s great internally but in a bad area will inevitably have to lower the asking price to make a sale, especially if there are similar quality houses in nicer surrounding areas.
Generally, buyers don’t want a house that needs extensive maintenance or repairs before being ready to move in unless they’re looking for a project. It’s recommended that if you know your house needs some work to get it done before you put it on the market. This does have its advantages- it will increase your house’s value, meaning you can raise your asking price. It’s also worth getting your property valued more than once if possible, so you won’t get caught out during conveyancing if more work is needed on your house that you’re not prepared for.
4. Property chain vs no property chain
The length of time it takes to sell a house differs massively depending on if there is a property chain. The time length will increase dramatically in a chain compared to if there is no chain. A property chain can be just three houses but is often much more than this, and because each link relies on the one previous to sell, a break in the chain can be devastating for everyone else in the chain. Sometimes it can just cause delays, but if the delays are continuous it can result in buyers or sellers pulling out, which adds more delays until new buyers or sellers are found to replace the lost ones. If you’re lucky enough to be in a sale with no property chain, the sale can go through much more quickly- as little as 6 weeks in some cases.
It’s important to remember that there is no promised time frame when you sell a house. There are too many factors to narrow it down, so it’s best to expect a longer time and not be disappointed. If you’re looking to sell your house and aren’t able to wait, contact us at We Buy Any House today. We can provide you with a free offer and aim to sell your house in a time frame that suits you- as little as 14 days!