It can be difficult to find the perfect buyer for your home. Just putting your home on the market means lots of choices, and the choices you make at that moment could make a difference in your house buyers. UK individuals often work with estate agents and cash buyers, but which one is best for you?
The Pros and Cons of Estate Agents
Working with an estate agent is a great start for a lot of sellers. Real estate agents are some of the best people in the business and often have a tenure to match that claim. They’re always up to date about the market, the value of homes, and how best to market what they’re given. They always know the perfect price for your home, and the best way to get the word out- but the problem is that many estate agents are paid on commission, and they want to get paid as much as possible for working on your home. That means that they’ll overprice or order excessive renovations on homes that won’t net them that much money, all in the aims of building their own commission. These renovations or pricings can both harm your house on the market, and your own funds- after all, if that doesn’t succeed in raising your home’s price, it just means that you’ll have less money to spend on your next property.
Working With A Cash Buyer
Opposite of estate agents are UK cash house buyers, who, as their name might imply, already have the cash to buy your home. These are a great option for anyone who’s moving in a hurry and just needs money, because your home is guaranteed to close. Since your buyer should already have the money to purchase your property, that means that you don’t need to bother with fighting a lender for mortgage money. Instead, you just need to sign the contract and seal the deal! While working with a cash buyer might net you a little less money than it would when you work with a reputable estate agent, that doesn’t make them any less useful, and estate agents are always more likely to cost money instead of making it.
Considering A Short Sale
Short sales are one of the least well-known ways of selling your home, and you have to talk to your lender before engaging in one. In a short sale, you sell your home for much less than you owe on your mortgage, meaning that you don’t have to fully pay off the loan as long as you get rid of the home. This can be disastrous for your credit score, and fully affect what loans you get to take out in the future, but it can help homeowners that need to get rid of a deeply-in-debt home as quickly as possible so that they can move on to something more affordable. Your lender will only permit a short sale if you’ve gone several months without making a mortgage payment, and even then, they’re more likely to want to work out a different payment plan than a short sale. If you need to get out from under a sinking mortgage, though, a short sale might be right for you.
Auction Buyers Are a Possibility
If you’re on a really tight deadline, you might even consider selling your home at auction. In the world of house buyers, UK home auctions aren’t necessarily the best places to sell property- but if it sweetens the pot, you’re guaranteed of selling your home within 28 days of the auction. Selling in as-is condition is also both feasible and totally normal for an auction, so you don’t have to do any costly repairs or renovations to make your home better for your potential buyers. Auctions are a great way to sell your house quickly, and at little cost to yourself- but you have to be aware that homes in auctions rarely even fetch 80% of their open-market price. If you do sell at auction, you’re going to get a much lower price than what you would earn with an estate agent or even with a cash house buyer.
Many House Buyers – UK Sellers Must Choose
Selling your house can be hard, but it becomes easier when you know how to sell it. Whether the best choice for your home is an auction, a short sale, a cash house buyer, or even an estate agent, you’ve got options! Picking the right one should be simple for your home.