- Wed 23 Aug 2023
Whilst we’re certainly not wishing the year away, we’re really not that far away from 2024 and if you’re thinking of moving before the end of the year, you will certainly need to sit up and read this in order to stand a chance of getting moved this year!
A few statistics for you to consider before we look at the detail:
• The national average time from a buyer being found to handing over the keys (completion day) is around 120 days
• National average time to find a buyer for a property before placing it the hands of a conveyancer 55 days.
• On average in 2023, one in every three sales that are agreed (yes 33%), will fall through and therefore you will need to start the process again.
If you were to go on the law of averages, you will probably not be able to market your home, secure a buyer and complete the sale before the end of 2023. The good news is, that at Bradleys Estate agents, we are not average Estate Agents!
There are several measures that can be taken to speed up each element of your move, which we can discuss with you in greater detail face to face, although let’s take a look at some of them so you can get a flavour of how you can increase the chances of a quicker than average move.
This will sound really obvious; however, it is the most important element: price your home sensibly! Many Estate Agents are paid to list homes for sale, not necessarily sell them so beware of being given unrealistic valuations. Ask for recent evidence (in the last 6-8 weeks) where buyers have been found and approximately the achieved price for similar homes to yours.
Take into consideration your position and desired timescale when setting your asking price, there maybe other factors that determine your need for a quick move which may require pricing your home a little lower. For example, a job move where you need to be living somewhere else and not commuting or paying hotel bills!
Ask the Estate Agent what they are actually going to do to secure a buyer for your home and then when a buyer is found, how will they assist the conveyancing process to ensure the sale concludes swiftly? Once you’ve heard the answers, check their past customer reviews to see if they support what you’ve been told.
Perhaps you should consider the method by which you sell your home. The traditional route (private treaty sales) are what we have quoted the above stats upon, however if you look at the modern method of sale (online auction) you can be looking at marketing to completion in 65 days, although you will have to factor in the preparation of an auction pack before marketing which will take a few weeks.
This could also prove much cheaper with often the buyer paying the fees to the agents! If you decide that the modern method of sale isn’t for you, you can still prepare much of your legal work before a buyer is found and that can reduce the conveyancing period (between a sale being agreed and completion) by as much as half, subject your buyers’ position and whether you will be buying another home.
The more information you can provide upfront, the less chance a buyer will change their mind, the quicker your conveyancer can move the process forward and therefore reduce the chance of the sale falling through. Whilst the point of this is not to deter people from moving, in fact the exact opposite, it should hopefully provide a more realistic insight and expectation for any move you are considering.
It should also be noted that each home is different to market, therefore will potentially have a different experience when being sold. We strongly advise that to gain a more tailored insight into your move, contact your local Bradleys Office and we can arrange to see your home, discuss current demand for similar properties, the recent sales evidence to support the marketing values and fully understand your reason for moving and then tailor our suggestions to your needs and requests.
Arrange your valuation, whether an online estimate or a face-to-face meeting. click here.