Selling your house quickly brings lots of advantages.
It allows you to move past a stressful selling process.
And you can capitalise on an imminent opportunity to buy elsewhere.
Believe it or not, selling your house in 7 days is possible in the UK. We’ve explained how you can do it below.
What is the quickest way to sell a house?
The quickest way to sell your house is using a cash buying company.
These organisations have all the funds needed to buy your property straight away. They aren’t dependent on a mortgage to do this – instead, they buy in cash.
You should double-check that any cash buyer you use is legitimate.
Be cautious who you work with
Some people and companies claim to be but are secretly untrustworthy. They can use different tricks to scam you.
You should speak to past customers and check online reviews to avoid this. And ensure the cash buyer is also registered with the relevant industry bodies.
How much do cash buyers offer?
Cash-buying companies offer you below the ‘typical’ market rate in return for getting the sale done so quickly.
This is often around 15% or 20% less than its usual market value. This allows them to profit by selling your house (or renting it out) further down the line.
Is it possible to sell a house in 7 days?
Yes, it is possible to sell your house in 7 days.
Cash-buying companies can often complete your sale within 1 month. And in plenty of cases, exchange of contracts has taken place within 7 days.
This is the case with the most trustworthy companies in all parts of the country.
If you want to sell within 7 days, clarify this to your cash buyer. But you’ll need to be prepared to compromise on price.
Reasons to want to sell a house in 7 days
Divorce
When you’re going through a divorce, it’s natural to want to get it out of the way as fast as possible.
You don’t want to spend months communicating with someone you’ve agreed to part with.
Getting it done within a matter of days makes more sense–and then beginning the next chapter of your life.
Repair a broken house chain
Finding an immediate replacement could be in your interest if a property chain is about to fall apart.
This is tricky on the open market because people want time to consider their options, do a survey, and more.
A cash buyer can slot right into your previous buyer’s position and keep the chain alive.
Selling an inherited property
It’s common for inherited properties to be in disrepair.
Perhaps your relative was a hoarder or too elderly to tidy the house.
There may be broken windows or doors. Or maybe it’s simply far away from where you live.
Whatever the circumstances, it’s natural to want to offload it. Otherwise, it could became a major hassle in your life which you hadn’t expected.
Relocation
Sometimes, you can find yourself forced to relocate in a short timeframe.
Work related changes are a common explanation for this. Or perhaps a family member has fallen seriously ill and you need to go and care for them.
When the situation is urgent, you can’t afford to wait months for someone on the open market.
A cash buyer gives you the funds to buy a new house in a different location.
Financial difficulties or repossession
The sale of your house allows you to unlock some of the equity tied up in it (if applicable).
If you’re facing difficulties, this can be used to pay off debts. It’s also a useful strategy for avoiding repossession.
Untenable situation
A scenario may have arisen in your house that you don’t want to deal with.
Perhaps tenants are squatting. Or maybe there’s a pest infestation that you don’t want to pay for.
In these cases, you may want to make the house ‘someone else’s problem’.
Steps involved with selling a house in 7 days
Cash-buying companies will purchase your house in any condition.
So you don’t necessarily need to stage your home if you don’t want to.
As a result, you’ll just need to compromise on the asking price.
Contact a reliable cash buying company and state your desire to sell fast.
They’ll ask for key details about your house and then give an online valuation. If they’re based nearby, they may even visit you.
It’s up to you whether you accept their offer. If you proceed, the exchange of contracts will occur in the coming days (they’ll tell you when).
It’s then up to you to find an immediate accommodation option and sort out removing all your belongings.
Can I sell my house within 7 days on the open market?
Not really. The average time to sell a house on the open market is about 25 weeks (almost half a year).
It’s almost unheard of to complete a sale within 7 days on the market.
Most people in this position are part of a wider change, which slows things down.
You’ll need to spend time on a survey and getting a solicitor to complete the searches. This all takes several weeks, at least.
Drawbacks of selling house in 7 days
You don’t decide the future owner
You’re highly unlikely to meet the future owner of your house. A cash buying company will typically renovate your property and then sell it for a profit.
If meeting the future owners is important, you may need to let this go.
You don’t get full value for the house
Cash-buying companies that complete within 7 days don’t offer full market value.
It’s usually around 15% or 20% below what you’d otherwise get. You get this price for selling your house quickly, in any condition.
Finding immediate accommodation and removal is tricky
When you’re set on selling within 7 days, you’ll need to find immediate accommodation within this timeframe.
This isn’t always easy! A temporary solution may be best.
And if you’ve got lots of belongings, you’ll need to find a removal company available on short notice.
