House Buyers vs Selling Agents Timeline
This Infographic is designed to highlight the differences between using house buyers like ourselves and a couple of other selling options such as selling your house through an estate agent and selling at auction. Not only do we highlight the pros and cons of using each method but also quite importantly for those who need to sell quickly, the different timescale that each selling method has. Let’s take a look at each selling method in more detail:
Selling to House Buyers
House Buying Companies like ourselves offer a range of different selling options which vary dependent upon what the customer wants. Different to estate agents and auction houses, house buyers like ourselves often don’t act as a middle man but as a direct person that can buy the property. Even though house buyers often require a discount a lot of this is offset when compared to selling agents as there is no need to charge commission.
House Buyers Time Frame
Dependent on which offer the seller chooses the time frame can vary from as little as a week for an ordinary cash sale to a more unspecified time frame such as few months for an assisted sale where sellers can achieve close to the market value of their house.
House Buyers Summary
House buyers are a good method once you’ve exhausted the estate agent route and become impatient with how long it’s taking to sell your home. For sellers who require a fast sale they can at least specify a quick timescale and pull the trigger as to when they wish to complete. More information about how our house buyers service works can be found on our homepage.
Selling at an Auction
The decision to sell your house at auction has often been a last resort for those who have been unable to sell through a traditional estate agent. Unfortunately for sellers many buyers who attend a auction are looking for a bargain, not only that but the competition from other sellers is strong as the auction catalogue often includes repossessed property from banks who simply wish to recover some losses and have no emotional attachment.
Selling at Auction Time Frame
When selling at auction the buyer has to complete the purchase in 28 days so the good news for a seller is that if they do achieve a sale there is a guaranteed completion period. The bad news is that there is a limited amount of buyers who are able to complete within this short time frame where it would be impossible to get a mortgage approved in such a short space of time, so sellers need to have either an expensive short term loan or cash funds ready. Because of the shortage of this type of buyer they are only prepared to buy a house in this way if it’s truly a bargain compared to what the true market value of the property is.
Auction House In Summary
The auction house has traditionally been the only other route available other than an estate agent, however with the advent of internet house buyers many sellers are able to get a higher price when selling to a house buying company and at the same time they can still receive a similar time frame certainty as they can get from selling at auction.
Selling via an Estate Agent
Selling via the estate agent route is by far the most common way to sell a house. For many people across the UK it’s highly successful and depending on how much time you have on your hands and how popular your location is it’s a perfectly feasible way to achieve a good price for your home. However, unfortunately this method isn’t always successful for certain properties and those that are based in high competition locations or even sparse rural locations it can be almost impossible to sell a home via this route.
Estate Agents Time Frame
If a sellers property is in a great location where there are many available buyers such as the centre of London then it’s easily possible to achieve a very quick sale. However, for those based in less popular locations the time frame of actually achieving a sale can become longer dependant on the desirability of the area, in less desirable areas a property could be sitting on the market for longer than a year and unfortunately for sellers they don’t have any form of definitive time frame.
Estate Agents In Summary
Other factors such as the condition of the property, and in the some circumstances the property may not even be mortgageable can effectively put a full stop on being able to sell to a normal house buyer in the traditional way. Other people who are in an area where there are many similar properties on the market all at the same time, for example in a block of flats may also find a lack of buyers.
Unfortunately for sellers once they are tied into an estate agent it can simply be a waiting game and if they are struggling to sell their home their frustration may give in to the estate agents suggestion of lowering the price only to eventually sell to an amount that including fees could be a similar amount to if they were to sell quickly to a house buying company.
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<p><a href="http://www.directhousebuyer.co.uk/infographics/house-buyers-vs-selling-agents-timeline/"><img title="House Buyers vs Selling Agents Timeline - DirectHouseBuyer Infographic" src="http://directhousebuyer.co.uk/wp-content/uploads/2017/03/MAR01-Infographic-House-Buyers-Vs-Selling-Agents-Timeline-v0-3.jpeg" alt="House Buyers - DirectHouseBuyer Infographic" width="800" height="3000" /></a></p><p style="text-align:right;font-size:12px;color:#999;">by <a style="color:#666;" href="http://www.directhousebuyer.co.uk/">Direct House Buyer</a></p>