People tend to have two priorities when selling their home: firstly how much will they get, and secondly how long will the process take.
No-one ever gets everything that they want and there usually has to be compromise along the way.
It all boils down to priorities: if you want the highest price possible and aren’t in a rush to sell, then the open market is probably your best bet. If speed is top of your list then you need to look at faster-moving options like auction or property cash buying companies.
Whatever selling route you choose though, you need to value your house. But where to start?
Speak to someone in the know: Speak to someone that knows your area like the back of their hand for an accurate valuation — that usually means a local estate agent or valuer. They should have a good feel for what your property is worth based on its location, unique features, condition and size. But be careful —their agenda is usually different to yours. For example, some estate agents will price high to impress and win your instruction but your home could sit on the market for months, while mortgage valuers tend to price low to protect the interests of the lender.
Equally, steer clear of national chains as they tend to conduct desktop valuations that work on algorithms and averages, rather than visiting your property to understand its unique qualities.
Work out your priorities: Professionals can give their opinions but ultimately it’s up to you to work out what’s right. You need to be realistic on the price front if you’re serious about selling though.
The biggest factor to consider is timelines —in other words, how quick do you need to sell?
If you’re going through a change in circumstance then speed will probably be top of your list; you might have a new job starting in a month on the other side of the world, you’re going through a divorce and need to split assets, or you simply want to downsize now the kids have flown the nest. Property cash buying companies are the best option here. You may need to lower your asking price slightly versus what you’d potentially achieve on the open market but you’re guaranteed a sale and the whole process can be finalised in a few days. Just be careful that you do your research and choose your company carefully —check out their reviews, ask for proof of cash funds, and don’t sign any contracts.
If you’re not in a rush, then you could go down a more traditional estate agent route. They will connect you to relevant buyers and charge a fee for their services. There is no guarantee of a sale though, and that’s even when it’s priced right. In fact, 49.8% of house sales in England and Wales fell through in the last quarter of 2018 for a number of reasons: buyer’s changing their minds, lenders not lending, chains breaking down, Brexit uncertainty, the list goes on.
If you live in Hull or East Yorkshire and need help valuing your house, then call us on 01482 655346. We make a same-day cash offer on every home that we see.