Selling Your House Fast In London
London is the financial and economic heartbeat of the UK with a diverse population of around 9 million people. In recent history house prices in the UK have been led by London, but this has changed over the years with the midlands and north of England catching up, as well as Scotland and Wales.
Whether you are selling a property in London or any other part of the country, the process, timelines, and risks are the same. It typically takes 6 to 12 months to sell a property via traditional routes, which includes finding an estate agent, agreeing terms, creating marketing materials, finding a buyer, and going through the sales process, which is always longer if a mortgage is being applied for.
There is an alternative to selling through an estate agent and that is to find a private cash buyer. A private cash property buyer can purchase your home in a short timeframe, without facing any risks associated with a declined mortgage, a house chain break, etc.
Is The London Property Market Different From The Rest Of The UK?
In terms of the sheer size and number of people in London, the capital city is different from anywhere else in the UK. The population is almost twice that of Scotland, which means that there are a lot more people that require housing. The average price of a house in London is also much higher than in the rest of the UK, making it more difficult to get on the housing ladder. The average price of a house in the UK was noted as around £280,000 in June 2022 compared with London with average house prices above £500,000.
A Competitive Market
As London is much larger, there are more buyers and sellers. If you are looking to sell your house in London, you will have the opportunity to sell to a larger audience, but it will also be more competitive with more people looking to sell. London is a particularly competitive housing market. It can be difficult to choose the right estate agent as there are so many, and it is often stressful trying to understand pricing in the London market and make the right decision. For more information on how location impacts property in the UK, see our Does Location Affect The Ability To Sell A House page.
Once you find a buyer fo your house the London property market is the same as the rest of the UK. The legal process across England and Wales is the same, with some modest variances in Scotland. Once a buyer is found, they will most likely need to apply for a mortgage, which takes months, and there is always a risk that the sale will fall through. If the sale does fall through, the whole legal process needs to start again. This can be expensive and frustrating and often results in house sellers losing out on their onward purchase.
What Is The Fastest Way To Sell My Property In London?
The fastest way to sell your house in London is to completely avoid buyers who require a mortgage. There are two options when seeking those with the ability to buy property for cash; find an individual cash buyer through an estate agent, or find a property cash buying company. More information can be found on our What To Look For In A Property Buying Company page.
The difference between an individual cash buyer and a property cash buying company, such as Serene Homes, is the speed at which the sale of a property can complete. Whereas an individual cash buyer usually requires 4 to 6 weeks to complete on the purchase of a house, with this time often doubled when factoring in the time to actually find the buyer, Serene Homes can complete a house purchase within as little as 7 days. There are only three simple steps involved:
More information can be found on our Sell House Fast page.
How Can I Find Out The Value Of My House In London?
In order to determine the value of your house, you will need to instruct a professional surveyor to visit your property. This usually costs between £200 and £500. If you are looking to sell your house quickly, however, then Serene Homes covers the cost of the valuation. More information on getting a free valuation of your house can be found at our Property Valuation page.
On making contact with Serene Homes, you will be given an online valuation based on comparable sales in your local area along with an initial cash offer. If you are happy with the offer, a valuer will be sent to your property after which, you will receive another call to confirm the price. You are free to accept or reject this offer which means that as a minimum, you will have received a free valuation on your house. If you are happy to accept, then the time from accepting the offer to completion of the house sale is usually less than a week.
Contact our friendly team today at Serene Homes to organise a free valuation of your house and learn more about our hassle-free service where we guarantee to buy every property we agree once the free valuation is completed.