Quick property sales can be a bit challenging; particularly if you’re not familiar with all of the choices available. Whether your sale needs to take place to free up cash, or you’re relocating to another part of the UK, there are several routes which you could take. Let’s look at some of the most common options.
Your Options when Considering Quick Property Sales
If you are looking to sell your home fast, it is best to avoid the long delays that are often associated with property chains. Also, check to see if there is a possibility that you could benefit from a part exchange scheme. These allow you to put the value of your existing property towards a new home. Part exchange schemes are often offered by builders, as they will then renovate the property and sell it on the open market.
How Long is your Leasehold?
You may find that it is difficult to sell your house quickly if you have a short leasehold property. If this applies to you, then usually you’ll be able to obtain a leasehold extension, providing that you have lived in the property for a minimum of two years. Extending your lease is especially worth doing if it has less than 80 years remaining. Any leasehold property with fewer than 80 years will make it difficult for buyers to secure a mortgage. This will narrow your potential range of buyers, or even mean you cannot sell. You can apply for a one-time extension which places an additional 90 years on the lease. Depending upon the costs involved, this could be a good idea.
Could a Quick Sale Firm Help?
Another useful option can be to employ the services of a third-party firm which will purchase your property directly. This route is often chosen in instances when a relocation is imminent, or if you require a cash sale within a very short time frame. Still, it is wise to have at least two independent valuations performed by qualified surveyors. This will help you to determine the current market value of your property.
However, we should make it a point to mention here that quick property sales using a quick house sale company will not normally provide you with the open market value of your home. Even so, the trade-off can be worthwhile. There will not be hidden costs, you will not be forced to deal with solicitors, estate agents and lengthy property chains. You could very well find that you have broken even at the end of the quick sale process, not to mention saving lots of time and hassle.
What Documents are Required for a Quick Property Sale?
So we’ve looked at some of your options, but it would irresponsible if we did not mention some of the documentation that you need to have ready. A quick breakdown will include:
– Your proof of identity and your property title deed.
– The TA10 fittings and contents form.
– The TA6 property information form.
– Any leasehold or freehold documentation.
– Your Management Information Pack (MIP).
– Your Energy Performance Certificate (EPC).
Having these forms ready and close-at-hand will help to speed up any quick property sale. Please feel free to print out this guide and to use it as a reference during the sales process.