Getting Ready to Sell. Selling Strategies. Real Estate Agents. The Owner-Seller Option. The Selling Process. Tax Consequences. Definitions A-O. Definitions P-Z. Home Ownership Mortgage. Table of Contents Expand. Getting Emotional. To Hire or Not to Hire an Agent. Setting an Unrealistic Price. Expecting the Asking Price.
Selling During Winter Months. Skimping on Listing Photos. Not Carrying Proper Insurance. Hiding Major Problems. Not Preparing for the Sale. Not Accommodating Buyers. Selling to Unqualified Buyers. The Bottom Line. Key Takeaways Keep your emotions in check and stay focused on the business aspect of selling your home. Hiring an agent may cost more in commission, but it can take a lot of the guesswork out of selling.
If you decide to sell on your own, set a reasonable sale price and keep the time of year in mind. Article Sources. Investopedia requires writers to use primary sources to support their work.
These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.
You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Related Articles. Partner Links. Professional house sellers like us always use two strategically chosen estate agents working in competition with one another on a winner takes all basis. There are 3 key factors that explain why we achieve superior results compared to a general public:.
The study currently pegs the average time it should take to sell a house at 4. The study indicates on average it should take 7 weeks to agree a sale at an acceptable price. In cold markets it usually take longer to find a buyer. As you can see, there are big variations between hot and cold markets.
The study indicates on average it should take 10 viewings to agree a sale at an acceptable level. In hot markets , it took on average 11 viewings to agree a sale at an acceptable level. In cold markets it took on average 9 viewings to agree a sale at an acceptable level. Is your agent covering for the fact they initially overpriced your home to secure your instruction? Are they now dragging unsuitable buyers around your home just to keep viewing numbers up and you off their back?
This is a difficult issue to self-diagnose because you may have to face up to some uncomfortable truths. Your choice of estate agent may also be a contributing factor. Similarly, flats in Scotland tend to sell much quicker than big detached houses down South. If you want a more accurate estimate for the average time properties usually spend on the market in your local area, check out the stats here.
If your home has been on the market longer than the average for your area, discuss with your estate agent the best way to boost its appeal. It may be time to lower the asking price, or to take new photos for your online adverts. Selling your home is complicated and confusing; and sometimes it can seem never ending. Even after going through the trouble of valuing, listing and showing your home, then finally accepting an offer, there's still some work to be done.
These are perhaps the most important steps in a home sale. And, if you're wondering 'how long does it take to buy a house? If you've received an offer you're happy with, you must formally accept it via your estate agent.
Be aware that the sale is not yet legally binding. At this stage you are technically still able to accept a superior offer, or back out of the sale entirely. This is arguably the trickiest stage of all, but a good estate agent and conveyancing team will offer you plenty of support. Having settled on a price for the property, you must now also agree with the buyer on a few other important matters.
These might include the length of time between exchanging contracts and completing the sale typically days , and which fixtures and fitting will be left in the property as part of the sale. This is the stage at which both you and the buyer legally agree to the sale. Backing out after this may incur legal action and financial cost. This can be done anytime before the day the sale is completed, as long as the house is in the agreed-upon state including fixtures and fittings by the time the new owners move in.
This will happen at a time and date agreed upon in your contract. At this point, the legal ownership of your home is officially transferred to the buyer. All Rights Reserved. Terms Privacy Cookies. Close Search. The State of the Market How hot or cold the market is can also significantly affect how long it takes your crib to sell. Pricing It goes without saying that an overpriced house could sit on the market longer than a reasonably priced home.
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