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Selling Your House Fast In A Slow Market
How to sell a house fast in a slow market
Although the current housing market is reportedly on the rise, and the forecast for the near future is that we should continue to see a steady increase in house prices, and new buyers entering the market place, we never know what is round the corner.
There are many things that could affect the current economy and with the upcoming election in 2015 it is very difficult to say what is going to happen with house prices in the UK.
The fact is that we all need to prepare for selling in a slow market, as it is something that we may face at some point in our lives. Whether it is caused by economic break down or other factors; there may be a point in our lives where we need to sell our houses quickly, and struggle to find a buyer because of the speed and decline of the property market.
Reducing your price or other incentives
The obvious way we can attract more buyers in a slow market is to reduce our asking price. If you can afford to reduce your asking price even by as little as 10 per cent it could have a drastic effect on the amount of buyers interested in your property. This is even more important if you fall within the stamp duty threshold. If you can lower your asking price slightly to avoid your potential buyer paying any stamp duty it could have a very dramatic effect on the interest in your home. This could prove critical if you are looking to sell your property quickly.
As far as other incentives go, you can and should look into all possible options such as gifted deposits, whereby you pay a percentage or all of your buyers deposit as a token of good will for them buying your home.
You can also look at more simple incentives such as offering to pay the first 3 months of your new buyers mortgage, offering to pay for their legal fees or even offering to leave in furniture or fixtures and fittings.
There are many ways to attract buyers in a slow market and financial reasons doesn’t have to be the only one. Offering your buyer a way of moving in which is going to be less stressful or cause less upheaval for them is one instance, or making your home more appealing by moving out quickly and giving them early access to move their belongings across.
Things you can do now
If you are against the idea of reducing the asking price of your property or simply can’t because you are in negative equity and still need to sell quickly in a declining market, you need to look at what you can do now to make your home more appealing.
Simply strategies such as keeping gardens tidy, doing DIY work and repairs are all well and good, and will help you sell, however sometimes you need to go that extra mile to make your home stand out from the rest.
Professional photographers can make all the difference as well as staging companies.
Call us today to see how we can help you sell your house quickly for fast cash.The first step is to 'apply now' and get the process started. Our system will let you know if and how we can help you. Alternatively call us on 0191 603 1995.