How Long Does it Take for a House Sale to Go Through?

Selling a property can be a stressful time, especially if you’re buying and selling a property at the same time and find yourself in a property chain. If this is the case, it can be difficult to say how long it will take for your home to sell – and this is because multiple factors impact the entire process. On average though, it takes six months to sell your property in the UK.

Timescales from offer to completion

There are multiple ways that you can choose to sell your home. You may choose the traditional estate agent route, you could decide to sell without an estate agent, an auction property sale may be your preference, or you may be considering a cash house buyer. If you go for the estate agent, this is the typical process you can expect to follow:

1. Advertise your property (can be live in as little as 2-3 days)

Your chosen estate agent will advertise your home to the open market. It’s your responsibility (and in your best interest) to make your home as presentable to potential buyers so possible. You may need to renovate or redecorate your home for this.

2. House viewings (2 weeks to 2 months)

Your estate agent will then organise accompanying viewings with potential buyers to show them around the property to encourage a sale.

3. Offer (Allow 2 weeks for negotiations)

Your estate agent will then approach you with any offers that have been made on the property. It’s up to you whether to accept or reject the offer, as it can sometimes be a lot lower than asking price – but expect to add time to the process for negotiations.

4. Sold Subject to Contract (SSTC) (3-4 months)

With the property now sold, it’s time for the biggest bulk of work to be completed. Your estate will now pass your sale to solicitor(s) who will conduct searches, settle any disagreements, draw up contracts etc. to work towards completion. Allow breathing room during this process, especially if in a chain, as this process can last up to six months.

5. Completion

Hurray, you made it! If it all goes through, the money for your property will be transferred into your solicitor’s account, who will then transfer it to you.

Using an estate agent to sell your home is the most popular route in the UK, but if you are using an estate agent then you should be prepared that it can take a long time to process from start to finish, taking around three to six months on average.surveyors will then carry out a comprehensive Home Buyers Report to accurately valuate the property.

What factors will impact the length of the sale? Why isn’t my house selling?

As hard as you may try, there is always going to be something that will slow down the sale of your property. It’s important to be aware of these beforehand to avoid any nasty surprises.

Current property market

The condition of the UK property market is the biggest factor. If it isn’t in a good way, and the economy is taking a general hit then the process will be generally slower. Demand also affects the property market. If lots of people are selling similar homes in the same area as you, then it will be difficult for your property to stand out in the crowd. The ideal market is when there are lots of willing buyers looking for a new home. In a buyers’ market, sellers need to competitively price their homes to avoid postponing the sale until the market improves.

Property location

Homes sell quicker if they’re located in a popular area with low crime rates, and are close to local amenities, good schools and have parking. It may take longer for your home to stand out if it doesn’t match most of the above criteria. Your asking price should always reflect the location of your property.

Condition of your home

It’s vital that your home is in good condition to garner interest and for it to help you sell your home fast. If selling with an auction though, the condition of your property is generally less important as many people buy homes from auction. In most cases, buyers don’t want to purchase properties that require extensive repairs or maintenance. Therefore, it’s advisable to sort out any repairs to your home or garden before you put your property on the market to help speed up the selling process and increase the price.

At Good Move, we buy any property regardless of the condition. We also aim to complete the sale within just 14 working days and cover all the costs involved in the sale to give you peace of mind.

What might delay a house sale?

A property chain is your biggest enemy when it comes to house sales and delays. A chain is created when there are multiple house purchases linked together, and each one becomes reliant on the other.

If you already own a property, you will likely need to sell your current home before you can purchase a new one. There is no limit to how long a property chain could grow and if it breaks, selling your home could take months.

Good Move’s advice for quickly selling your house

Selling your house to a reliable cash buyer like Good Move is often the fastest method.

Always do your independent research, but we share lots of information about quick house sale services, and how they compare to traditional house-buying methods, such as an estate agent or auction house. It’s an easy and fuss-free way of selling and can take as little as 14 days to complete.

The process is made up of just six simple steps:

1. Get in touch

Your first action would be to get in touch with a regulated house buyer, like Good Move. If you choose Good Move, an RICS-certified chartered surveyor will be able to provide you with a fair cash offer in principle for your home within 24 hours.

2. Property appraisal

If you accept the offer in principle, then an appraisal of your property will be conducted.

3. Formal offer

Once surveyors have received the appraisal report, you’ll receive a formal offer for your property.

4. Contracts issued

If you accept this formal offer, solicitors are instructed, and contracts are issued. At Good Move we’ll even contribute £500 towards all clients’ legal fees if you decide to use your own solicitor. Otherwise, we’ll cover any associated fees during the sale.

5. Home Buyers Report

Chartered surveyors will then carry out a comprehensive Home Buyers Report to accurately valuate the property.

6. Completion

After a satisfactory Home Buyers Report and Report on Title, the sale will be completed, and your house will be sold. At Good Move, we’ll transfer the funds to you within seven days. You can expect to receive up to 85% of the full market value and your property to be sold in no more than 21 days too.

In summary

Selling your home can be a drawn-out process, with factors like an uncertain property market and lengthy conveyancing process contributing to the stress. If you want to speed up the process and help secure a guaranteed buyer, Good Move can help.

Don’t hesitate to contact us if you’re wanting to sell your house fast.

*timescales are average and can vary depending on your individual situation.