What is the quickest way to sell your house or flat in Newbury Park?
There are several methods for selling your home in Newbury Park, which is part of the Redbridge borough of east London and is known for being the location of a bus shelter that earned a Festival of Britain award in 1951. You can decide between using an estate agent, trying your luck with a property auction, or selling to a fast buyer like LDN Properties.
Each approach has its own advantages, and there are certain disadvantages to some of the choices, such as charging commission that will reduce the amount of profit that you will be able to make when selling your home. Browse the details of the three methods below in order to find the one that best matches your wants and needs, including your goal with the speed of the sale.
You can significantly reduce your workload when selling by using an estate agent, because they will handle the marketing of the property to generate interest in it, along with scheduling and leading viewings for prospective buyers to tour the inside and outside. In exchange, they will charge fees for this work, which will be subtracted from the sale proceeds, in turn lowering your net profit.
Another con is that it can take many months, or even more than a full year in some worst case scenarios, before receiving a serious offer from a buyer. This can be far too long for many homeowners to wait, particularly those who need to sell their properties as fast as possible.
Some estate agents might also inflate the sale price they quote for being able to sell your home, because they want to get your business even though they realise they’ll only be able to find a buyer at a lower price. One way to avoid falling for this trick is to ask multiple estate agents for quotes and calculate the average of them in order to get a more accurate estimate.
A property auction can be something of a gamble because you don’t know the final sale price of your home, or even if it will sell. You will choose a reserve price, which is the lowest value at which you are willing to sell your home, and hope that many people are interested in buying it, therefore placing many bids and hopefully pushing the final sale price high. But you could just receive a single bid at the reserve price, so always choose a value that will still net a profit after paying the auctioneer’s fees.
You can expect a wait of several weeks at least between the date on which you list your home for sale and the date on which the auction takes place. And even if your property does sell at the auction, the buyer usually has about 28 days to then complete their required steps. Combined, it means that selling this way can usually take at least a couple of months.
And auctioneers will also charge fees based on your home’s final sale price, which will have to be deducted from the sale proceeds in order to calculate your net profit. There are some instances in which you can pass some fees on to the buyer, which can help to increase your profit, so you should always ask individual auction houses about this possibility.
The third, and often speediest, way to sell your home is to contact a fast buyer like LDN Properties. We have 15+ years of experience with making quick and competitive offers for buying all sizes and shapes of freehold and leasehold homes in Loxford and across London.
Our friendly experts can usually complete the purchase of each property in a handful of weeks, and that covers all stages of the process including paying homeowners their proceeds and exchanging contracts on the house or flat. This is generally much swifter than the timeline you will experience if you decide to use an estate agent or auctioneer when selling your home.
Fast buyers are also able to consider making offers on almost any property, regardless of its condition, age, size, shape or type. The lengthy list of purchases that we have made since launching LDN Properties in 2003 includes houses where there is subsidence, homes with major structural problems such as dry rot, properties built with concrete or other non-standard construction material, houses situated near power lines or mobile masts, flat on busy and noisy city streets, and more.
