How to sell a house fast step by step

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a woman using a house buying company to sell her house fast

Selling a house can be a complex and time-consuming process, but sometimes circumstances demand a fast sale. 

Whether due to relocation, financial pressures, or other life changes, many homeowners find themselves needing to liquidate their property quickly. 

This guide aims to provide practical strategies and tips to help you navigate the challenges of selling your house fast while still maximising the potential sale price. 

We’ll explore options like cash buyers, auctions, and specialised home sale companies, evaluating the pros and cons of each approach. 

However, if you’re after a conventional method like using an estate agent and you’re in London, speak to our team at Cozee Properties who are always able to help you facilitate a quicker sale.

Looking to sell your house fast?

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Tips to sell your house within a week

Opting for a house buying company presents the speediest option, with many promising a purchase within one to four weeks. 

However, be prepared to sacrifice a portion of your asking price as the reason a property sells quickly with a house buying company is because they are selling below market value. 

All about selling your house with a house buying company

House buying companies are those that acquire properties from people who don’t have a lot of time to sell their property. But what are they exactly and how do you use them?

What is a house buying company?

When you hear the term ‘house buying company’. These can be either individuals or companies with enough money to cover your entire property deal in one purchase without the need for a mortgage or debt. 

what a house buying company is

You may have also heard of a house buying company being called a house sale specialist or a quick sale estate agent. They all generally refer to the same thing.

Can you sell your house fast for market value?

In general, if you are looking to maximise the amount you can make from a property and sell it for market value, then you shouldn’t consider selling your house fast for cash.

Nonetheless, you can still consider selling it quickly but through more conventional methods. This includes listing portals, going through estate agents and potentially property auctions but only in rare. circumstances.

Want to see if an estate agent can sell your property?

Cozee are expert agents based in London. Contact them for a quote

Sell your house for cash with a house buying company

The below steps and headings cover what a cash buying company is and how to best use one to sell your property for the best price in the uk.

Step 1: Research reputable cash buying companies

Start by identifying several well-established cash buying firms that operate in your area. Look for companies with a solid track record and positive customer reviews. Ask friends, neighbours, or your solicitor for recommendations.

researching house buying companies

Step 2: Request cash valuations

Contact 3-4 of the top cash buying companies and request free, no-obligation cash valuations for your property. Be prepared to provide details about your home, such as the number of bedrooms, location, condition, etc.

Step 3: Evaluate the offers

Once you receive the cash offers, compare them against each other and research recent sale prices of similar homes in your neighbourhood. T

he cash offers will likely be 25-50% below true market value – this is how these companies make their profits by buying low. Decide if the speed and convenience is worth accepting a lower price.

Step 4: Negotiate if possible

If one company’s offer stands out as being too low compared to the others, try negotiating with them. Explain that their offer is well below the others you’ve received. Cash buyers have some flexibility, so it’s worth attempting to get a higher price.

negotiating on the price of a house

Step 5: Choose the best offer

After evaluating prices, company reputations, and any negotiation results, select the cash buying company you want to proceed with. Sign their cash purchase agreement which lays out the sale price, timeline, fees, etc.

Step 6: Instruct a solicitor

Engage a solicitor or conveyancer to handle the legal paperwork on your side of the transaction. The cash buyer will have their own solicitors as well. Provide your solicitor with the purchase agreement.

getting a solicitor to sell your house fast

Step 7: Await the survey and sort queries

The cash buyer will arrange for a survey on the property to verify condition. The solicitors will raise any legal queries during their searches. Respond promptly to any questions to keep the sale moving.

Step 8: Exchange contracts and complete

Once all checks are done and paperwork is in order, you’ll exchange contracts first, then a completion date will be set, usually 1-2 weeks later. On completion day, you’ll receive the cash funds and hand over the keys!

exchanging contracts when selling a house fast

What should you be aware of about quick sale companies?

Using a quick sale estate agent may work well with selling your house quickly. Nonetheless, house sale companies do not come without their share of significant pitfalls.

A lack of transparency

The lack of transparency in fee structures is another concern for sellers as companies that may not have the same morals and ethics as other companies may introduce hidden charges, stalling the sale until these undisclosed fees are settled. 

Gazundering

Gazundering is where companies initially commit to purchasing a property at a specific price only to abruptly reduce the agreed-upon amount at the final stages, locking in their own commission and leaving the seller with a worse deal. 

A ‘quick sale’ may not actually be quick

Dissatisfied consumers have raised grievances about the prolonged duration of what was marketed as a ‘quick’ sale, with some transactions taking several months to reach completion.

Contracts with hidden fees

Additionally, certain contractual agreements can bind customers, preventing them from entertaining potentially more lucrative offers from other buyers. 

To add to the complexity, companies may impose hefty penalties on those seeking to terminate their engagement prematurely. 

Are there any alternatives to selling your house fast?

There are some other ways that you could potentially sell your house quickly. For instance, there are cash buying companies, auctions and also house sale specialists that you can take advantage of.

crying after being gazundered

Change your estate agent

If your home has sat on the market for an extended time without selling, consider switching real estate agents or agencies. A new agent provides a fresh perspective and new marketing strategies. 

Look for agents with in-depth knowledge of your local area and property values. Make sure they have sufficient time and resources to dedicate to selling your home. 

Be wary of agents overpromising unrealistically fast sales. Interview several agents and check reviews to find the best fit. The right agent has the experience and networks to reignite buyer interest and potentially facilitate a quicker sale. Just be sure to choose based on expertise over promises of speed.

Looking for a change in estate agent?

Contact Cozee, expert property manager’s in London to see if they’re a good fit

Use a property auction

Auctions allow owners to sell properties quickly, often within 4-6 weeks from listing to closing. Homes are marketed for a short pre-auction period then sold to the highest bidder on auction day. 

This route provides quick cash, but lacks some security. It’s wise to set a reserve price when auctioning your home to avoid selling below your minimum acceptable price if bids disappoint. 

Preparing thoroughly for an auction sale is critical – take care of all legal paperwork like title transfers ahead of time and clean/stage your home to attract the most buyers. With auctions, the buyer has only a short window to arrange financing, so sales can fall through. 

While auctions provide speed, they also come with the risks of uncertain timelines, volatile bidding, and potential below-market pricing. Weigh these pros and cons relative to your goals when considering auctioning your property.

woman winning her auction

Exchange your house with a home builder

Some home builders offer house exchange programs, allowing you to swap your existing home for a newly built property. This provides a convenient way to move without needing to sell your current house first. Builders benefit by acquiring properties to add to their rental portfolios or resell. 

Be sure to have both homes appraised to ensure even value exchange, and review all legal/paperwork thoroughly. Exchanging with a reputable builder can allow seamless relocation, but beware of exchanging for an overpriced new construction.

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