If you need to sell quickly, it’s easy to assume you’ll have to accept a big discount. Sometimes a lower price is the right trade for speed and certainty, but often sellers give away far more than they need to, usually because they only heard about one option.
Here’s how the main fast-sale routes compare, and what to watch out for with each.
First, decide what “fast” means for you
“Fast” means different things to different people:
- Days: a repossession date, a chain about to collapse, or an urgent move.
- A few weeks: you want it done this month, without months of viewings.
- A couple of months: you’d like certainty, but you’re not in a rush.
The tighter your deadline, the more you’ll usually trade on price. If you have even a few extra weeks, you open up routes that can get you noticeably more.
The four main routes
1. A private cash buyer: from about 7 days
A private cash buyer is an individual or small company buying with their own funds, with no mortgage and no chain. If your paperwork is in order, completion can happen in as little as 7 days.
What it costs you: cash buyers pay below full market value in return for speed and certainty. How far below depends on the property, its condition and the buyer.
Watch out for: the difference between a private cash buyer and a cash buying company. Some large companies make a strong offer to win the deal, then reduce it shortly before exchange, when you’re least able to walk away. Read more in cash buying companies vs private cash buyers.
2. A private investor: usually 6 to 12 weeks
Landlords and investors often buy properties that need work, or that come with tenants in place. They usually pay more than a quick cash sale, but take longer because there’s more due diligence and sometimes a mortgage.
Best for: tenanted properties, rental portfolios, and homes that need updating. See selling to a private investor.
3. Auction: around 3 weeks of marketing, then about 28 days to complete
A modern auction gives you a fixed timetable. You set a reserve, the property is marketed for around three weeks, and once the hammer falls the buyer is committed. Completion usually follows about 28 days after exchange.
What it costs you: auction fees and a reserve that’s realistic enough to attract bidders. The upside is competition, which can push the price up.
Best for: unusual properties, homes needing major work, and sellers who want certainty on a date. See selling at auction.
4. An estate agent: slowest, but usually the highest price
If you have time, a well-marketed open-market sale usually achieves the best price. The trade-off is uncertainty: chains, mortgage delays and buyers pulling out.
Best for: sellers who can wait for the right buyer. See selling through an estate agent.
How to avoid losing money on a fast sale
- Get more than one route on the table. The biggest losses happen when a seller only speaks to one buyer. Even a quick comparison can show you where the money is.
- Ask for a net figure. Know exactly what you’ll receive after fees, not just a headline price.
- Ask how the price could change. A good buyer will tell you up front what, if anything, could change the price, such as a survey finding something serious. If the answer is vague, be cautious.
- Get your paperwork ready early. Title deeds, ID, any leasehold information, safety certificates for rentals, and probate documents if relevant. Missing paperwork is one of the most common reasons “fast” sales stall.
- Keep the solicitors moving. Most delays happen between solicitors. Someone needs to chase every step, every week.
Where Heritage fits in
We aren’t a cash buying company and we don’t buy properties ourselves. We look at your property and your deadline, introduce it to the right private cash buyers or investors we know, or arrange an auction or estate agent sale if that will get you more. You’ll know your exact net figure before you agree to anything, and the buyers we introduce don’t chip the price at the last minute. If a survey ever finds something serious, we’ll show you the evidence.
If you’d like to talk through your options, tell us a little about your property and Phoebe or Poppy will call you back.