How long does it take to sell a house?
“How long does it take to sell a house?” is a common question that sellers ask. In fact, different stages of the house buying process take different lengths of time. In this blog, we’ll explore how long each stage takes on average, and what you can do to keep the process running smoothly.
Stage 1: Marketing your property to receiving an offer
On average, a house will be on the market for eight weeks before a buyer makes an offer. It might happen quicker – sometimes estate agents use their network of contacts and find a buyer straightaway. It might also take a little longer.
However, if your property has been on the market for longer than eight weeks and no serious buyers have shown an interest, something might be wrong. The price might be too high for what you’re offering. It might have a feature that only appeals to a limited number of buyers, like being a listed building or having its kitchen upstairs.
What can you do to speed up this stage of the house buying process?
If you are selling a property that should have broad appeal, and it’s still on the market after eight weeks, it might be time to lower the price or even consider changing estate agent. Check your contract with your estate agent to find out what options are open to you.
Even if the house has unusual features, a good estate agent will know how to make the most of them. We sometimes recommend that sellers use house doctor services – house doctors make suggestions about layout and colour that can make your house more appealing to buyers.
Stage 2: Receiving an offer to exchanging contracts (conveyancing)
This is the most time-consuming stage of selling a house, and it can take between three and four months.
During conveyancing, your solicitor (conveyancer) communicates with the buyer’s solicitor, as well as the local authority and the land registry. This is to ensure that the property is yours to sell, and to help the buyer understand what they are taking on. For example, the local authority might reveal some plans for your property’s area that could affect the sale.
What can you do to speed up the conveyancing process?
Choose a good solicitor with experience of your kind of house sale. It’s always worth getting a recommendation from someone you trust rather than just doing an internet search.
You can speed up the conveyancing process by being ready with all your documentation. It also helps if you’re standing by to respond to queries and have regular contact with your conveyancer and anyone else involved in the sale. The faster you can complete your own action points during this process, the less time it will take in total.
To find out more about conveyancing, read our blog here.
Stage 3: Exchange to completion
When the conveyancing process is finished, you and the buyer exchange contracts through your solicitors. After this point, neither you or your buyer can back out without a financial penalty.
Completion is the time when you give the keys to the buyers and they become the new owners.
As you will have to pack up to move out, and the new owners will need to organise moving in too, there is usually a gap of 1-4 weeks between exchange and completion.
What can you do to speed up house sale completion?
Again, be as ready as you can be. You’ve probably already decluttered in preparation for selling, so that’s one less thing on the list! Know which removal company you’re planning to use, and organise childcare so you can focus on the move.
However, it’s important to bear in mind that you cannot control the buyers’ house-moving arrangements. Try and keep an open mind.
How long does it take to sell a house?
If you’ve been keeping track (!), you’ll see that all these different time periods add up to approximately six months. That means that, on average, five months will pass between you instructing an estate agent and completing the sale.
If you’re planning to sell property in Guildford, we hope you’ll consider Cobbles. And if your property has been on the market for more than eight weeks, why not give us a call on 01483 457 000 and find out what Cobbles can offer?
How long does it take to sell a house?
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