If you’re thinking of putting your Watford home on the market, one of your first questions is likely to be how long will it take to sell. With its transport links, green spaces, proximity to London, good schools and great facilities, Watford is a desirable location. And when it comes to finding buyers, demand for the right properties is currently very high, with a shortage of suitable homes on the market.
To help you get a feel for how long your home might take to sell, we answer some of the questions we often get asked about the process.
How long will it take me to find a buyer?
The standard estimate for finding a buyer is between five and 14 weeks, though the current market conditions mean properties are selling more quickly than before the pandemic. The UK average is currently 33 days, according to Rightmove, with the most sought-after homes going in just days.
How many viewings will I have before I find a buyer?
According to property website, The Advisory, you are likely to receive an offer after six to 10 viewings. In a hot market, like the current one, you will probably have more viewings before you receive an offer because of the large number of house hunters interested in each property.
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I’ve found a buyer; how long will it take until we exchange contracts?
Normally it takes about two months to get to exchange from an offer being accepted. However, recent high demand has put pressure on conveyancing and mortgage application system, meaning it might take longer.
What is the average time from exchange to completion?
You and your buyer will set a completion date at exchange. Most people go for a window of two weeks, but you can make it shorter if you’re both looking for a quick sale – or longer if your transaction is more complex.
How can I help myself to a quicker sale?
The most obvious way to speed up your sale is to avoid being part of a chain. If you decide to sell, then move into rented accommodation, and you are able to choose a buyer, without a place to sell, things will progress much more quickly – especially if yours is a cash buyer, who isn’t waiting on a mortgage offer.
How long will it take if we are chain free?
Chain-free sales take around 10 weeks on average, but can take as little as four if everyone is geared up to make the quick sale happen.
What else can I do to sell my house quickly?
Whether or not you are part of a chain, there are things you can do to push the sale along. These won’t guarantee a quick sale – sometimes market conditions, or unforeseen circumstances will get in the way – but sticking to this checklist might help.
Pick the right estate agent – someone with a reputation for being proactive and responsive with a good understanding of the local market.
Do the same with your conveyancer – get personal recommendations, you need someone as committed as you are to speeding things along.
Don’t overprice your property – it could push your home out of the search bracket for your ideal buyers and cause problems if the mortgage company queries the value.
Stage your home to sell, making sure it’s clean, neutral, clutter free and with definite kerb appeal.
Choose chain-free, first-time and, if possible, cash buyers for a faster sale.
Make sure you have all guarantees, certificates and other vital paperwork ready for your conveyancer so you don’t slow anything down.
Don’t book a holiday during the sale period, you need to be around.
What factors might delay my sale?
Many things can delay a house sale. You might have an overworked conveyancer, a buyer who can’t get a mortgage offer or problems with the survey. These issues can come up anywhere in the chain, and you can’t control them. However, you can minimise problems by instructing your conveyancer as soon as you get an offer and keeping in regular communication, completing your forms and signing your papers by return and being available.
Which month should I choose to improve my chances of a quick sale?
Spring and early summer is the standard answer to the best month to sell, with early autumn considered good too. August, November and December are usually thought of as slow. However, markets have behaved very differently since the pandemic, so check the property and local media for current conditions and take advice from your estate agent.
How long do I need to live in my new home before I can move on?
Legally you can decide to sell at any time, if you don’t think you can live in your new home – but buying and selling is an expensive business, thanks to stamp duty and the other costs involved. Remember that buyers may be puzzled about why you’re selling quickly and you may find it hard to switch your mortgage very soon after it was agreed.
Does it take longer to sell a leasehold property?
Yes, it probably will. The conveyancing process for leasehold properties can be more complex – so choose someone experienced in this type of tenure.
If you’re thinking of putting your Watford home on the market, talk to us. We will work with you to develop the marketing strategy to help you find the right buyer for today’s market in the quickest possible time.
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David Clayton
Claytons blog was created to give light hearted but hopefully useful property related thoughts and advice.
David started his career at former family firm, Weller Hill Hubble aged 17. The company was later purchased by General Accident property services and David went on to become their youngest ever manager and Area Director. However, disenchanted with corporate life he decided to return to his old roots and start a personal, service driven Estate agency. In 1991 Claytons was born and has grown into one of Watfords most well known and successful businesses. Outside of work David , who still lives locally is married with 3 children and a cockapoo called Teddy.
