How Long Does it Take to Sell your Home
Selling your home is a journey with several stages, each contributing to a successful and stress-free transaction. In this article you will find details on how long it will take to sell your home on average.
1. Property Valuation:
A property valuation is typically arranged within two working days, the appointment takes around 45 minutes to an hour, depending on the size of your property, and provides a critical foundation for setting an accurate asking price. Proper pricing is key to attracting buyers in a competitive market, as overpriced homes can discourage interest, while a well-priced property is more likely to generate viewings quickly.
2. Producing Marketing Materials:
After you have chosen your estate agent (hopefully us), the focus shifts to preparing the marketing materials. This includes high quality photography of your home, creating detailed floor plans, and crafting a compelling property description. For smaller homes, these tasks may be completed by the valuer, while larger properties or those requiring enhanced visuals, like drone photography, might involve a professional photographer. These preparations are typically completed within 48 hours, ensuring the property is ready to be listed without delay.
Once the marketing materials are finalised and all the relevant forms have been signed, the property is uploaded to online platforms; Rightmove, our own website and social media sites, making your home visible to a broad audience. The combination of competitive pricing, professional visuals and accurate descriptions plays a significant role in attracting potential buyers.
3. Generating Viewings:
Most properties start receiving viewings within the first week of being listed. However, the number and speed of viewings depends of many factors such as location, condition and price.
If viewings are slow, there are several strategies to boost interest, such as creating engaging property videos which we do in-house, running targeted social media campaigns, updating online listings with new/updated images or descriptions, and revisiting the price to ensure it is competitive. We can also do another property match which involves contacting potential buyers from our database to encourage viewings which can also make a significant difference. We review every property’s performance on a bi-weekly basis and relevant adjustments to the marketing are made if necessary to maximise interest.
4. Viewing Feedback:
After a viewing, potential buyers are contacted by our Sales Negotiators the following day to gather their feedback. Positive feedback may result in an offer, while constructive criticism can inform improvements to the property’s appeal or marketing strategy. This follow-up process helps maintain momentum and keeps the sale on track.
5. Receiving an offer:
When an offer or multiple offers are received on a property, our sales negotiators carefully collect all the details and present them to the vendor. At this stage, the vendor has the option to accept an offer, request a higher amount, or negotiate terms. This is where the real negotiations take place, with our team acting as a skilled intermediary to ensure the vendor achieves the best possible outcome while maintaining momentum in the sale process.
6. Sale Agreed
When an offer is received and agreed upon, the process moves into the administrative and legal phase. At this point, we verify the buyer’s financial position, including proof of funds, deposit and mortgage approval. Sales memorandums are sent to all relevant parties, including all solicitors involved, ensuring the sale progresses smoothly.
7. The Conveyancing Process
The conveyancing process begins once you accept an offer on your home, involving the legal transfer of ownership to the buyer, handled by conveyancing solicitors or licensed conveyancers. It starts with instructing your conveyancer, who obtains the title deeds and prepares a draft contract. The buyer's conveyancer then conducts various searches, such as local authority and environmental checks, and raises any queries based on the draft contracts and search results. Your conveyancer works with you to address these enquiries, ensuring a smooth process. Additionally, you’ll agree on what is included in the sale, typically outlined in a fixtures and fittings form.
8. Notify your Mortgage Lender
If you have an outstanding mortgage, notify your lender after accepting an offer to request a redemption statement. This document outlines your remaining balance and any early repayment charges, helping you understand your financial position and ensuring the mortgage can be cleared upon sale.
9. Property Surveys:
The buyer typically arranges a property survey to assess the home's condition, ranging from basic valuations to detailed structural surveys, based on the property's age and condition. This step helps the buyer and their mortgage lender while also preparing you for any potential negotiations or concerns that may arise.
10. Exchange & Completion
On average, it takes around 12 weeks to move from accepting an offer to exchanging contracts. However, this timeline can be influenced by factors such as the property’s condition, the efficiency of the solicitors involved and any dependencies within a property chain. Regular updates and proactive management helps address potential issues and keeps the process moving swiftly.
Exchanging contracts is a critical milestone where the sale becomes legally binding. In some cases, this happens on the same day as completion, but more often, a forward completion date is set typically within two weeks. Completion day marks the final transfer of ownership, where the buyers solicitor transfers the remaining funds to the seller and the keys are handed over.
Selling a home is a complex proves with many moving parts but careful planning and expert guidance can make the experience smoother and more efficient.
