How long does selling a house take?
When homeowners have reached the decision to put their home on the market, we find several key questions arise.
These are all great questions, unfortunately it’s hard to give a definitive answer. The housing market is a fickle beast and the average time it takes to sell a house can vary wildly especially in traditional sales.
As a rough guide, house buying and selling in the United Kingdom will take around twelve weeks from first when the buyer decades to accept an offer to the completions date. However, this is not always the case, with some properties languishing on the market for many years, or occasionally being snapped up in a matter of weeks.
Is it harder to sell in some areas than others?
According to the latest Rate of Sale report form Post Office Money mortgages, the speediest sales were in Edinburgh and Glasgow, with some homes selling in as little as 30 days and an average of 48 days. By contrast, homeowners in London, Liverpool and Newcastle had the most arduous wait, with sale times of up to 126 days.
What are the key factors that affect how long it will take to sell your home?
• Where abouts in the country you live
• Whether you live in a popular location
• How big your property is
• Whether your property is in top condition
• Are you asking a reasonable price
Reasons for slow sales are hard to pin down, and even experienced estate agent can be baffled by the failure of a sale, especially where buyer and seller have seemed keen.
The frustrating thing for a homeowner is that even where a buyer is enthusiastic, there are pitfalls. You may find that despite having a mortgage agreement in principle they are unable to secure their finance, or that they simply change their mind – something even the best conveyancing solicitor can’t control.
This variability in the time it takes to sell your home is one of the reasons that more and more people are turning to the simplicity of UK PCB – it’s a lot less stressful than being at the whim of banks and buyers. So if you’re asking yourself, “How long does selling a house take?” Get in touch today for a no obligation, free valuation on your property, what ever its condition and make selling your home simple.