We look at several ways to sell property fast in London and scams to avoid.
If you need to sell property fast in London, then you need to get in touch with Flying Homes. Did you know that many of our clients have received more than 94% of the sale price of their homes? Sell any property fast in London with our help. Check Out Flying Homes’ recently sold homes and compare the prices achieved here with other quick sale companies.
The good news is demand for property in London is usually high. Therefore a quick sale is relatively straightforward if a property is priced to sell. The bad news is that London is unaffordable for many people wanting to buy a house in London and for most moderate-income families looking to rent.
Options for selling property quickly in London
1. London property buying companies
A search on the Internet using the phrase ‘property buyers in London’ will turn up hundreds of companies who will buy your home fast but you’ll get less than its worth, this is the trade off for buying in a matter of days/weeks.
2. Using a local Estate Agent
Using an estate agency in London to sell fast. Some estate agents focus on the investment property sector, where in return for you pricing your home to sell, they’ll find you a buyer in a matter of days. These type of agents are somewhere between your traditional estate agent and a fast property buying company. They work like traditional estate agents but formalise the sale quickly, and you will pay a fee when the property sold. Estate Agents are supposed to market your home fairly on Rightmove or Zoopla but some unscrupulous agents may not do this and instead ‘suddenly’ produce a buyer who later turns out to be the estate agent himself or his pal, and you may lose thousands of pounds! Therefore make sure if selling this way that you see your home advertised on the portals for at least a few weeks.
3. London Property Developers
If your property in London has land with it, it will be worth a lot of money, therefore, approaching a property developer may be an idea. Often the best way is a joint development, as you’ll benefit from some of the profit for developing the site. However, this is not a speedy option like selling to a ‘quick sale company’ as often the London property developer will need to get planning consent on the land before a deal finalised.
4. Auctioning a Property in London
Selling your house at auction in London can be a great way to sell a home fast, but there is no guarantee it will sell on the day. Yes, it could sell quicker than the traditional way of using a London high street estate agent, but then it may not sell at all! The danger is that you set a ‘low reserve price’ in the hope that many potential buyers will bid the price up, and then only one person bids and you have sold the property too cheap. Often with Auctioning property, it depends on sufficient motivated buyers on the day.
How to avoid scams when selling your home in London
Some companies have been misleading customers with regards to selling their London property fast with a variety of scams, like the one above where the agent is selling your home, introduces his buyer.
Avoid being ripped off by following these tips:
- Check the company out, use their business information and look them up on Companies House to see if they are real, trading and not just a ‘back bedroom operator’ or website promising to sell your property fast in London when they are only intent on ripping you off.
- If it’s a London estate agent that you are dealing with, then check to see if they are members of any professional property association, such as the Property Ombudsman and National Association of Estate Agents. Ask if they hold professional Indemnity Insurance – you will find that most reputable companies will.
- Use a local London solicitor for legal advice throughout the sales process, and they will help draft and any documents related to the sale and clearly explain everything to you. Your lawyer can also check out the credentials of any buyer.
- Some companies may offer to buy your property for an agreed price, then drop it at the very last minute (a process known as gazundering), so do some research on the Internet and see if there is a pattern of this reported by other unhappy sellers.
As you can see, there is a lot to consider if you need to sell property fast in London. Call Flying Homes for a chat in complete confidence if you want to sell your home quickly on 0800 669 6784.