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Option Homes Ltd - News- How to Secure a Fast Sale – Part 1

How to Secure a Fast Sale – Part 1

Date Added 14/08/2016

Housing markets sometimes move fast, sometimes move slow, and all the while sellers and buyers have to adapt to the current climate whether that means paying more than they intended to or accepting a lower offer than they originally wanted.

For people looking to sell a property, it often makes sense to try and push the sale through as quickly as possible so they can reinvest in a new property that might not be available for much longer. So in part one of this blog as well as part two coming soon, we will describe a variety of methods and issues regarding how to secure a house sale as quickly as possible.

Get the Right Price for Your Area

We all want to get as much as possible when selling our properties, but asking too much will be a massive sticking point when it comes to securing a quick sale. If you have all the time in the world and the speed of the sale makes little difference to you, then holding out for a buyer willing to pay your ideal price might be worthwhile. However, when you want the sale to go through as quickly as possible, then you will probably need to take a bit of a hit on the sale price.

There`s no need to go slashing the property`s value in half, but do engage in some research of property values in your area, particularly regarding similar properties to yours. Use an estate agent to help you identify a reasonable and competitive price for your property.

Appeal to the Right Kind of Buyer

Decide ahead of time what kind of buyer you are looking to attract. If you have a four bedroom property to sell, then a family is most likely what you are hoping to appeal to, while a studio flat will be geared towards a young professional. Once you know who your target market is, ensure your property adverts are reaching the right demographic in order to prevent time wasters who might enjoy viewing your property without much prospect of actually putting in an offer.

Look to highlight the sort of local amenities that will appeal to your target buyer demographic, such as schools and parks for a family, or a fast internet connection and proximity to night life for younger folks.

Competition Drives Quick Sales

Buyers are more likely to move quickly if they feel they are in competition with others. A good way to bring a little bit of competition into proceedings is to hold an open house event where your house is open for viewing for a limited period of time and potential buyers leave sealed bids for the property if they are interested. This won`t be ideal for places where there is not a lot of demand, but cities (especially London) can indeed benefit from this sense of competition. Do conduct some research into the pitfalls of open house events though, as there can be issues to be aware of such as the frequency of high bidders dropping out.
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