How long does it take to sell a house?
Now that the property market is trending more towards buyers, it’s probably a good time to talk to your estate agent about putting your home on the market. If you want to know how long it will take to sell your home (avoid investing in a new property prematurely), there really is no simple answer.
Although every individual property sells differently, there are a few ways to speed up the sale of your home.
Factors that you CAN influence:
Condition.
There are number of things you can do to improve the physical appearance of your home and to get the price you want. Replace fixtures in kitchens and bathrooms, upgrade light switches and outlet covers, add a fresh coat of pain and repair items that have long been in need of a bit of TLC.
Price.
Properties that are overpriced tend to take the longest to sell, and if they remain on the market too long, it may prevent their sale altogether. Analysing the market carefully and enlisting the help of property agents are two ways to determine the best price for your home.
Terms.
Your willingness to negotiate with buyers is another factor that can have a positive impact on how quickly you secure a sale. If you’re new to negotiating, enlist the help of an agent who knows the ropes.
Factors that are OUT of your hands:
Location.
Neighbourhood desirability is a good way of determining a property’s market value, but it’s not the only factor that’s considered. There is also competition, condition and reputation, all of which effect how a home is sold and at what price.
Timing:
Different from promotion, which is a factor that you can control, the property market depends on the economy, season and even the weather, all of which affect home sales.
One way to bring back an element of control is to take charge of how you promote your property – whether through an estate agent or independently via online real estate listings.
Reputation:
Often a result of overpricing, homes that stay on the market too long can inspire hesitancy among prospective buyers. Occasionally buyers will use the length of the listing as a negotiating position (by making the assumption that sellers are desperate), with the result that these homes will sell for less than their market value.
There’s no magic list of factors that will influence the sale of your home, although it’s likely that it will be a mixture of the above. Your willingness to make adjustments in price and terms, and improve the condition of your home can affect how quickly, and at what price, your home will sell. Appeal to property professionals and search online to understand more about current market conditions and to learn how to properly value your home.
Written by Zoopla.co.uk property news author Ewan Robertson writes about factors that sellers do and don’t have influence over during the sale of their properties.
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