When you’re looking to sell a house in the UK, you want to know the best way to do it. There are many different ways to get rid of a problem property; you can sell it to a cash buyer, you can auction property in the UK, and you can even work with a real estate agent to find a buyer. Not every method is good for every circumstance, though, and each sale is unique. If your home is ageing, worn down, or in dire need of repairs, though, you don’t want to have to spend the money to fix it up and sell it. Instead, you probably want it off your hands as fast as possible. The best ways to sell a run-down property in the UK have to be selling at auction or selling to a cash buyer. Both of these options have different pros and cons and suit different properties in their ways. Here’s why you might want to sell your home at auction, and why you might wait for a cash buyer to give you a better deal.
Auctioning Property in the UK
When you need to sell fast, and your property isn’t in the best of shape, auctioning property is one of the best ways in the UK to sell cheaply and quickly. Auctioning your home or land means that you’re guaranteed a sale within 28 days, but the downside is that it might be a little more difficult to make back your mortgage. Auctioned properties often make much, much less money than homes sold on the market, and there’s no chance to haggle. This can make it difficult for the seller, who wants to gain money from the sale. If you sell your home at auction, you have to move out immediately after it’s sold as well. Auctions might be great for an old piece of land that you don’t use anymore, but if you’re selling your primary residence, it can be difficult to get everything arranged. On top of that, auction houses often charge high entry fees to even consider selling your home at auction. Overall, it’s dangerous to sell your primary residence or even any residence with a mortgage on it at auction, because you’re not guaranteed to get a good price and you have to be ready to leave by the time the auction ends.
Selling With A Cash Buyer
If you’re in a pinch, you’re better off selling with a cash buyer than you ever would be selling at auction. Cash buyers are also guaranteed to sell your home, but with the bonus of giving you just under market price– something that’s rarely true when you sell at auction. Cash buyers are willing to haggle with prices, too, and understand that you have a mortgage to pay off. When you work with a cash buyer to sell your home, you can sell it in as-is condition, which means that you don’t have to pay for repairs or renovations like you do on the open market. Cash buyers are willing to work around your schedule to complete the sale, and you don’t have to be moved out as soon as the contract is signed. Even better, there are no fees to sell your home with a cash buyer. Instead, all the money you have to pay is in the taxes and sale costs that come with every home sale, and that every seller has to pay no matter what way you sell. If you need to move quickly and are selling a home that would cost quite a bit on the open market– it might be better to look into a cash buyer than to auction your property in the UK.
Selling A UK Property
At the end of the day, it’s your choice to decide how to sell your home. No matter what condition it’s in or how much money you need, you can choose either of these two options to sell with, and you’ll probably make a profit out of both. Selling at auction will help you get rid of a property that can’t be fixed, and selling to a cash buyer will help you pay off an overly-expensive mortgage so you can move quickly. No matter what you need, both of these options suit different situations– so the only thing you have to do is choose wisely.