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Selling a house can be a daunting task, especially if it’s your first time. But even if you’ve been through the process before, the market is constantly changing which can often add extra pressures and worries into the mix.
While there will always be factors you can’t control, it really helps when you know what’s involved, including what you’ll need and how long each step can take. This will help you to manage your expectations, make informed decisions and avoid unnecessary stress. It will also help ensure there are no avoidable delays from your side because you’ll be ready as you can be for the house selling process.
In this blog, we’ll discuss how long it takes to sell a house in Leicester and the factors that can impact the timeline. We’ll also give you some tips on how to sell your house as quickly as possible and discuss how trusted estate agents like Readings can be extremely helpful.
The house selling process
Whether it’s your first rodeo, or your tenth, selling a house generally follows the same process. There are some key stages which have to be met so that you can progress to the next step in the journey. We’ve listed these below:
- Book a valuation and choose which estate agents to list with
- Instruct a solicitor
- Put your property on the market, which can involve both online and offline marketing
- Facilitate viewings for potential buyers and receive offers
- Acceptance of offer
- Contract negotiations
- Contract exchanges
- Keys handover
- Completion!
How long do houses stay on the market for in Leicester?
We frequently get asked how long it takes to sell a house in Leicester, but in truth there is no easy answer.
It’s reported that on average, it takes 101 days to sell a house in the UK (just over three months) from the first day of marketing to legal completion. Gov.uk has a similar view in that buying or selling a home usually takes between two and three months, but this can be longer if you’re part of a chain. Yet other data suggests you could sell your house in less than a month.
What these varying figures tell us is the true story – that there is no one size fits all answer. How long houses stay on the market depends on a wide range of variables, some you can control, and some you can’t. The key is to understand these factors, be prepared and play to your strengths.
What factors can affect the house selling timeline?
Let’s look at some of the factors that can affect the house selling timeline in a bit more depth.
The market: More often than not, how long it takes to sell a house will depend on the market, and whether there are more people wanting to buy than sell (a seller’s market), or vice versa (a buyer’s market).
Although the housing market has quietened since last year’s frenzy, it’s generally felt to be going through more of a rebalancing from over-inflated increases, rather than a slump.
Location
There can be significant regional variations too, where some parts of the county can be in decline, while others are growing. This can be an influencing factor down to a more macro level, in terms of the town, street or even corner your property is located on. This is just one of the many reasons why it always pays to talk to a local Leicester estate agent, as they can help you understand what’s happening in a particular area of Leicester.
Property size
Depending again on where you live, the demand can be higher for certain types of properties. In a city like Leicester, for example, it might be small flats and apartments that are more popular, while larger family homes can be preferred in suburbs like Oadby, Thurmaston and Birstall.
Competitive pricing
It’s important to get the asking price of your property just right; listing it too high could result in it being up for sale longer than it might be otherwise. You don’t want to put potential buyers off by thinking you have unrealistic expectations or that the property is out of their budget.
Marketing and viewings
How hard your estate agent works for you can also be a determining factor in how quickly you sell your home. Getting your property seen online and viewed in person by as many people as possible will improve your chances of a quick sale.
The chain
Getting that all important offer agreed is often where the fun really starts, because then you’re at the mercy of a chain. Some buyers may even be put off submitting an offer for a property where the chain is too long. Disruptions in the chain are unpredictable and can occur at any time – having good estate agents and conveyancers working hard to represent your interests and keep things moving is vital.
How can I speed up my house sale?
There are many variables when it comes to buying a home. To secure a sale as quickly as possible, you need good planning and preparation, good people working on your behalf and a bit of luck.
One thing you can control is how prepared you are for the process and how well you have taken care of the things that are in your control, such as having the documentation ready, ensuring your house makes a good first impression and having the right estate agents and solicitors.
This is where using a trusted, long-established estate agency like Readings can make all the difference. We have a wealth of knowledge and experience in buying and selling, and in the local Leicester property market. We also have a wide range of marketing platforms to maximise the visibility of your home. Our experts are here to help make selling a home in Leicester as quick and easy as possible. You can see what other customers have said about our service on the reviews section of our website.
Read more about what you can do to speed up your house sale here.
