Let’s imagine you had to pick one: time or money, what would it be? You can rarely get both.
The average property sale takes around 295 days, you could have a baby quicker than you could exchange properties! That is also assuming that nothing goes wrong with the contract exchange etc – with one in four falling through, it is indeed one of the most stressful things in life. In fact according to a Yopa survey, it’s even more stressful than having a baby!
With so much time, stress and of course cost involved in selling property, we wanted to ask the members of the NAPB their average buy time for comparison to traditional means.
Of the NAPB members who responded, the average time has been just 21 days.
Whilst a quick property sale is not always a replacement for traditional estate agents and would normally be a lower sale price, it gives a lot more options for the people who need to use quick house sales services.
Being able to exchange homes 173% faster than traditional agents enables people to take advantage of the stamp duty reduction, secure their dream house or clear debts and many other benefits that accompany quick property specialists. With climbing property prices it may be the best time to sell before a potential property market flop!
Whilst finally exchanging keys takes nearly 300 days, offers are also painfully slow taking around 124 days, which again quick house sale specialists smash being able to make an offer and exchange in record time – offers are often made the same day!
The property market has performed exceptionally well during the pandemic but how has the quick sales market performed?
Jonathan Rolande from House Buy Fast clarifies –
“The property market has continued to boom and we’ve found ourselves to be busier than ever. We’ve been able to adapt to new technologies to help under the (pandemic) situation which have helped us support our customers and keep our staff safe.“
“We’ve found some customers are keen to sell their houses quickly in order to take advantage of the stamp duty holiday, the quickest we’ve been able to buy a property is three days though even for us this was fast with averages taking around a week or two normally”
With a lot of people trying to take advantage of the stamp duty holiday, there may well be a slump when it finally ends. Hopefully, offers and exchange times will also come back down to pre-COVID times.
Whatever the future holds the members of NAPB will adhere to the code of practice and will be able to purchase a property efficiently and normally faster than traditional means.
