How Long Does It Take To Sell A House?

February 11, 2023

1. On average, how long does it take to sell a house in the UK?

The time it takes to sell a house starts when it is initially listed and ends when it is finally sold.

It is not at the time of the offer. The paperwork just starts at that point.

Our research shows that it typically takes 185 days for a house to sell once it is initially put on the market.

That is around 25 weeks, or a little less than six months.

Before a transaction is finalized, there are several phases that the buyer and seller must go through. We will look at what they are now.

2. The steps of the sales process and how long each one lasts

the first listing of the property

Time took: one to three days

Once you have selected an estate agent to market your home and you have agreed on a fee, they must:

Ensure the building has a current Energy Performance Certificate.

The process of visiting the property and taking images might take one to three days.

Learn more about the documents you must have on hand before selling your house.

Later on, your lawyer will want that you provide proof of FENSA certifications for your windows and doors, gas and boiler safety certificates, and electrical installation safety certificates for any work you performed on the property while you were a resident.

You must also make sure that any significant alterations to your home, such as an addition or significant renovations, complied with applicable planning rules.

Keep in mind that the application procedure might take 13 weeks or more if you need to apply retroactively for planning authorization.

Before speaking with brokers, you may want to give your house a little TLC to make sure it looks its best and draws in more buyers.

Making your property seem as roomy and clean as you can, whether it is by painting, decluttering, or gardening can go a long way with prospective buyers.

Here are some more tips for preparing your house for viewing.

Listing a property to have an offer accepted

Time took: 5 to 14 weeks

Depending on how hot or cold the market is where you live, it may take some time from listing your home until you may accept an offer on it.

A hot market indicates that there is a high demand from purchasers and that houses are selling rapidly.

Currently, based on our statistics, you may anticipate receiving an offer in around 29 days, or slightly over four weeks.

In a cold market, properties take longer to sell because there are fewer potential buyers.

Homes will always take longer to sell in a slow market, and the seller may accept an offer after 101 days, or slightly over 14 weeks.

Searches for contract exchange

Time took: 12 to 16 weeks

The longest phase of purchasing and selling a home is the conveyancing procedure, which begins as soon as you accept an offer on your property.

The buyer is responsible for setting up and paying for the conveyancing procedure, but you must also have a lawyer available to answer any questions the buyer may have.

To assist you in purchasing a home, learn more about what a solicitor performs.

The following searches on your property must be scheduled by your buyer’s attorney:

Local authority searches

These are intended to reveal any possible problems with nearby roads, railroads, and construction projects that may be planned or currently in progress.

Environmental investigation

Environmental investigations look at:

flooding problems

land-slide problems

Issues with subsidence

Issues with contaminated land

They will also disclose if there are any gas leaks or landfills nearby.

It is possible that your buyer’s bank will not approve their mortgage until the environmental searches are done.

Drainage and water searches

Checking water and drainage searches:

that public sewage and water supply are connected to the house

Where the drainage pipes are and where the public sewer is

If the water company would need to approve an extension of the house

Searching the Land Registry

This search verifies the Land Registry’s most recent “title register” and “title plan.”

In essence, it establishes your ownership of the property you are selling. It must be completed before the sale may proceed.

Learn more about the searches that are made before purchasing a property.

Your buyer’s attorney will be in contact with all of the other lawyers in the chain to create contracts for exchange & completion dates while all of these searches are being conducted.

In addition, your buyer will be setting up their mortgage at the same time, which may take four weeks.

Exchange to completion

Time took: 1-28 days

When an exchange occurs throughout the home-buying process, a sale is said to have occurred.

Once the contracts have been exchanged, your buyer would incur a fee equal to 10% of the purchase price if they decided to back out of the deal.

The procedure is complete after your buyer moves in and becomes the owner of the property legally.

There is no need for a significant delay between the exchange of contracts and completion since the majority of the work has already been completed.

In rare instances, individuals even trade and finish on the same day. However, this may be difficult to set up and is often not advised.

Once the exchange has occurred, the completion time is typically seven to 28 days.

3. What factors might slow the selling of a home?

There might be snags that slow down the selling procedure along the road, such as chains breaking or conveyancing delays. They may consist of:

A broken chain

A chain-breaking may impede a sale and, in certain tragic cases, result in the collapse of the whole chain.

Contact your realtor right away if your buyer cancels when you have your heart set on another house.

They can do little miracles when it comes to keeping chains from breaking apart and will want to assist you in finding another buyer as soon as possible.

Delays with the conveyancer or lawyer

Make sure you choose a reputable conveyancer or solicitor to handle the sale of your property, ideally one that comes highly recommended.

You need a careful, comprehensive, and most importantly, responsive lawyer.

When buyers or sellers believe their questions are not being addressed and the process is taking too long, frustration may rapidly develop between the parties.

When comparing conveyancer or solicitor quotes, the HomeOwners Alliance is a smart place to start.

Their quotations include user reviews that highlight the conveyancers with whom customers have had the most positive interactions.

Use the HomeOwners Alliance to find a conveyancer.

Delays with the searches

To conduct searches, the buyer’s attorney will get in contact with your local government and the land register.

Local authority searches need to be finished in two to three weeks on average. Nevertheless, it has been reported that some municipal authorities delay up to 13 weeks in fulfilling search requests.

To ensure that everything is proceeding as it should, your buyer should keep in constant communication with their attorney.

The survey reveals issues.

It is not required by law, but your buyer will probably have a study done on your house to make sure everything is in working condition and where it should be.

Depending on the problems it discovers, your buyer can demand that you address them before the sale closes or ask you to reduce your home’s selling price.

If this occurs, your attorney will speak with the buyer’s attorney on your behalf.

Delays in mortgage arrangements

Before shopping for a new house, your buyer may have previously secured a Mortgage Agreement in Principle.

But because they typically only endure for six months, yours may likely have already expired if it took them a while to identify it.

They will have to start the mortgage application process again if that occurs.

However, as mortgage applications typically take four weeks to complete, the procedure should not be slowed down if they reapply shortly after you accept their offer.

4. How long does it take to sell an unchained house?

Only one in ten real estate purchases is chain-free, but if you are, the conveyancing procedure may be drastically shortened from 12 weeks to only 4 weeks.

When the buyer has nothing to sell and the property they are purchasing is already unoccupied, A chain-free transaction occurs.

A first purchaser of a newly constructed house would be chain-free.

5. What can I do to speed up a sale?

Choose your pros wisely.

Working with somebody you can trust can benefit you while selling your house.

Consult with friends and relatives for referrals before choosing lawyers and moving firms.

Ensure your responsiveness.

Numerous documents, including local government searches, regarding your property will undoubtedly be sent to you by your lawyer.

Be prepared to swiftly and effectively study, complete, sign, and return all paperwork.

Waiting to complete the papers will simply slow down the procedure.

The power of communication

Keep in touch frequently with both your estate agent and your lawyer.

This will guarantee that you are informed about the transaction and that it is proceeding as planned.

You might decide to communicate with all parties once a week. By doing this, the likelihood of misunderstandings over who should provide what and when will decrease.

Regarding the timeline, be reasonable.

Everyone wants to rapidly sell their house. But being practical makes sense.

Set a date for the exchange of contracts so that everyone involved has a common goal to strive towards.

If you or the buyer need more time to move, you may simply modify the timeline from exchange to completion.

6. What do homeowners think?

According to our study, many Britons often overestimate the time it will take to sell their house and many may also be undervaluing their property.

Although our research shows an average sale takes only 29 days, more than half of homeowners believe it will take longer than that.

Additionally, despite their confidence in their knowledge of the value of their house, four out of ten homeowners base their estimate only on recent home sales in their neighborhood.

How long does it take to sell a house? has additional information.

7. Use Zoopla to find out how much your house is worth.

At Zoopla, you can get a quick online assessment of your home’s worth based on robust market data.

The length of time it takes to sell your house will also be significantly impacted by your choice of estate agent.

To assist you with all of your real estate requirements, we offer the most complete database of estate agents and letting agencies in the UK.

If you’re looking to sell or let your home with a Lee On the Solent Estate Agent, Stubbington Estate Agent, Gosport Estate Agent, Fareham Estate Agent, Portsmouth Estate Agent then please do no hesitate to email on info@gshomes.co.uk or call on 023 93 960 169.

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