Is it Possible to Sell a House in 24hrs? A Guide to Selling your House Immediately
If you want to sell your house there are ways you can sell it immediately and ways that will take many weeks or months. If you want to sell your house now we will look at the different ways of selling it and ways which are most likely to be successful to get a fast house sale.
Is it Possible to Sell a House in 24 Hours?
Most people assume that it takes months or weeks at the very least to sell your house. So everyone expects that it is actually impossible to sell your house immediately.
This study from The Advisory says that it takes 4.2 months on average to sell a house, from the first day of marketing to legal completion. That’s 129 days or a massive 3,096 hours!
But there is absolutely nothing to say that it needs to take such a long time to sell your house. It is possible to sell your house immediately in the right circumstances. Using some methods it is possible to agree to sell your house in as little as 24 hours.
What you Need to Sell your House Immediately
Other than, obviously, a house to sell there are two things you need to sell your house immediately:
- You need a motivated seller... which is hopefully you. That is someone with a house to sell who wants to move fast, sell it immediately and get cash as quickly as possible.
- You need a motivated buyer. That is someone who wants to buy quickly, who can work quickly, and with access to the legal and other resources needed to get a fast sale. Also, someone who has the financial resources to buy immediately, such as a mortgage in principle or who is ideally a fast cash buyer.
The Pros and Cons of Selling your House Immediately
There are lots of advantages to selling your house immediately. First and foremost you don’t need to wait, you receive the cash immediately. You don’t need to deal with estate agents, get your house reading for viewings, conduct lots of viewings (with many people who aren’t serious about buying), negotiate and wait for the deal to go through. With a fast sale, it often doesn’t matter if your property has problems, such as a short lease or if it is unmortgageable.
The longer a house sale takes the less likely it actually is to complete. So an immediate house sale is pretty much a guaranteed house sale too.
There are some drawbacks to consider if you are looking to sell your house immediately. One is that you will need to be willing to move fast, very fast. Another is that immediate house sales are normally on a best-price-for-fast-sale basis. You probably won’t receive the same price that you would receive by marketing your house for several months and waiting for someone to pay the highest price to come along.
The Best Ways to Get a Fast House Sale
Here we will look at the different ways to sell your house and at which ways are the most likely to get the fastest sale.
Selling Through an Estate Agent
When you sell your house using an estate agent you’ll probably want to contact several estate agents before you decide which to use. You’ll have to wait for them all to value your house and then choose one to sell it. You’ll need to wait for them to market your house, then wait for possible buyers to find out about it and (hopefully) view it. You may have to wait many weeks or months to find someone who wants to buy it and who makes a serious offer.
Even then, you’ll probably become involved in a chain. You’ll need to wait for the person who is buying your house to sell their house before you can actually sell it. That’s likely to be several months at least.
Likelihood of selling immediately using an estate agent: Pretty unlikely!
Selling Using an Auction Sale
Selling your house at auction is sometimes thought of as a way to sell your house fast, but this is not necessarily the case. You’ll need to allow time to find a suitable auction house, time for them to market it and then wait for the next sale to come around. Most auction houses only have an auction sale once every few months.
Even if your house sells at the first auction (and there is no guarantee it will sell) there’s then usually a standard 28 day waiting period until the sale actually completes.
Likelihood of selling immediately using an auction sale: Pretty much impossible!
Selling by Part-Exchanging your House
One method that is often put forward for selling your house fast is to part exchange it for a new one. Many new build developers have schemes where you can part-exchange your house for a new build home.
However, part-exchanging only works if you actually want to buy a new house as well as selling your old one. On top of that, it’s unlikely to be that quick as you’ll usually need to wait for the new house to be built, completed and fully signed off before you can move.
Likelihood of selling immediately using part exchange: Pretty much impossible!
Selling your House Yourself
One course of action you might consider if you want to sell your house is to try to sell your house yourself. You could use methods such as advertising in your local newspapers, classified advertising sites, or on social media like Facebook, YouTube or Instagram. You could even put a ‘for sale’ sign in your garden!
Selling your house yourself has some attractions. You won’t have any estate agent’s fees to pay and you put yourself in control of the entire process so you can move as fast or slow as you like. At the end of the day, however, the chances of a suitable buyer who is able to move fast knocking on your door and asking to buy your house immediately are not that high.
Likelihood of selling immediately by selling your house yourself: Pretty unlikely!
Selling Your House to a Fast House Buying Service
Fast house buying companies are services set up to do exactly what the name suggests .... to buy your house fast. They’re all set up to make a fast sale possible. Fast house buying companies, also known as quick sale services, are often cash buyers too.
The advantages of fast house buying services are that you don’t need to prepare your house for sale, so there’s no spending on decorating and maintenance. You don’t have to put up with numerous viewings (and people who don’t turn up). It’s confidential so no one will even know you’re selling. The fast buying company may also be able to pay for all your legal fees and costs as part of the deal.
Fast house buying services aim to do exactly what it says on the tin. Once you contact them they offer a fixed price for your property and a timescale often within as little as 24 hours and guarantee that the sale will go through. Once everything is agreed you’re guaranteed to receive cash for your house within the agreed period of time.
Likelihood of selling immediately using a fast house buying company: Very likely!