Selling a Million Pound Property

Having a million pound house or flat could seem like a great opportunity when it’s time to sell, but the high value of your property might create some barriers to finding a buyer.

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Your top questions when selling a million pound property

✅ How can I calculate whether my property is worth a million pounds?

There are several sources of information that could use in order to get a free estimate of your home’s value and whether it’s worth a million pounds. Estate agents, quick buyers and auctioneers should provide you with no-cost and zero-commitment quotes of your home’s potential selling price, and you can also use instant valuation tools on property sales websites.

✅ What are the reasons why someone may want to buy a million pound home?

You could find that prospective buyers have a number of justifications for wanting to own a million pound property, including the fact these homes tend to be freehold and therefore they would get to own the building and the land outright. Million pound homes are also typically larger than other properties, which can be attractive to buyers seeking more space.

✅ Why might some people be wary about owning a million pound house or flat?

There are several explanations for why a potential buyer could have concerns about owning a million pound property, including the likelihood that their mortgage repayments will be very high and potentially hard to keep up with. Other buyers could have concerns about the utility bills and other expenses involved with maintaining a home if it’s valued high because it’s very large.

✅ Will a buyer be able to get a mortgage to purchase my million pound home?

Possibly, but they could struggle to obtain such a loan because mortgage providers might worry that it will be hard to resell the home in the future if they buyer defaults on the repayments. If a buyer would have to rely on getting approved for a mortgage to purchase your property, the sale would be unable to happen – but you still have other options for selling the home.

✅ Which methods of selling a million pound house or flat include fees?

If you decide to sell your property using the services of either an auctioneer or an estate agent then you will need to pay them commission and this will be subtracted from the final sale proceeds, which adds to your expenses. By contrast, you can reduce your costs and avoid paying commission by selling to a no-fee quick buyer or selling without any third party help.

✅ What is the fastest way to find a buyer for my million pound property?

The quickest option to sell a home is usually getting in contact with LDN Properties or another quick buyer because it should only take a few weeks in total. The other typical methods for finding a buyer – selling through a property auction, selling with an estate agent and selling without any help – can often take many months and possibly even longer.

✅ How do I know that I can trust the sale of a million pound home to a quick buyer?

You can ask individual companies whether they can prove they are registered with a third party entity known as The Property Ombudsman (TPO), which publishes policies to protect owners against scams in the quick buying sector. All true TPO members, like LDN Properties, have to follow these regulations and this should give you additional peace of mind when selling.

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"Successfully sold two properties direct to LDN Properties in the last two years. Genuine and trustworthy people and the dealings were straightforward."Thomas from London

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