It’s said that selling a house can be one of the most stressful experiences of one’s life. But how long does it actually take to sell a house in the United Kingdom? The answer will depend on various factors such as the state and size of the property, location, market conditions and more.
In general, the process can take anywhere from several weeks to multiple months. While there is no one-size-fits-all answer, research has revealed that the average time to sell a house in the UK is approximately 9 weeks.
This article is going to break down the process and look at various factors influencing the time it takes to sell a home in the UK.
First of all, let’s look at the various steps involved in selling a house. From listing your property to completing the sale, there are several steps that need to be taken before you can hand over the keys and move out of your current home.
Step 1: Prepare the property
The first step is to prepare your house for sale. This involves making sure that the property looks its best when potential buyers visit. This could involve decluttering, cleaning and carrying out any necessary repairs or refurbishments that may be required to help with increasing the sale price or attracting more buyers. Depending on how much preparation is required, this stage could take up to a month or longer.
Step 2: Find an estate agent
Once your property is ready for sale, you need to find an estate agent who can advertise it on the market and help you through the entire process. This includes setting a realistic asking price, marketing the property and negotiating with potential buyers. Depending on how busy the local market is, you may be able to find an agent in a week or two.
Step 3: Listing your property
Once you have found an estate agent, they will take care of listing your property and advertising it through various channels such as their website, social media, newspapers, and property listing sites such as Rightmove and Zoopla, etc. Depending on the agent’s workload and marketing strategy, it usually takes between one to two weeks for your property to get listed.
Step 4: Viewings
Once your property is listed, prospective buyers will start viewing it in person or via virtual tours. This can take anywhere from a week to several months depending on the number of people interested in your property.
Step 5: Negotiations and offers
Once buyers have seen the property, they will decide if they wish to make an offer. This could involve negotiations and counter-offers with you or your estate agent. The entire negotiation process can take up and more. On average, it takes around 2-3 weeks from listing the house to finding potential buyers.
Once a price has been agreed upon, the sale will move forward towards completion.
Step 6: Conveyancing and exchange of contracts
The conveyancing process involves the legal paperwork that needs to be managed throughout the sale. Here, solicitors will work together to draw up contracts and make sure that all the necessary documents for completing the sale are in order. This process usually takes around 1-2 weeks from when you accept an offer.
Step 7: Completion
This is the final step of the process and involves handing over the keys to the new homeowner. This stage usually takes place 1-2 weeks after the exchange of contracts and marks the successful completion of the house sale process.
To summarise, it can take anywhere from several weeks up to multiple months for a house to be sold in the UK. The entire process depends on the preparation of your property, the speed at which you find an estate agent, the amount of interest in your property and the speed with which buyers want to move forward. On average, it takes 9 weeks from start to finish for a house sale in the UK. However, with some careful planning and research, you can ensure that the entire process is completed as quickly and smoothly as possible.
Other House Selling Scenarios
Now let’s look at some other scenarios which may be different from the average timeline.
In a buoyant market, where there is high demand for properties, it may take only 2-3 weeks to find a buyer and another week or so to complete the sale. In this case, you could be handing over the keys in as little as 4 weeks. In contrast, if your home is not in the best condition, or the market is slow, it may take longer to find a buyer and complete the sale. In this scenario, you could be looking at up to 6-7 months before finding a suitable buyer.
How Long Does An Executor Have To Sell A House Uk
What is an executor? An executor is a person appointed to administer the estate of a deceased person. As such, they are responsible for winding up the affairs of the estate and distributing any assets in line with the terms laid out in the will. This includes selling the property if required.
The amount of time an executor has to sell a house in the UK depends on several factors, including their relationship to the deceased, the size of the estate and any special requests made in the will.
Generally speaking, executors have up to 12 months to settle an estate. This may be extended if there is a long-term financial plan in place or if there are multiple assets that need to be sold before distribution can take place.
If you are an executor of a will, it is essential to take professional advice on how best to manage the estate and its assets. This will help ensure that all tasks are completed in a timely manner, while also helping to maximise returns from any house sales.
How To Sell A House Privately In UK
You may decide that you want to sell your house privately perhaps to a family member. In this case, the process may be much quicker as there will be no requirement for marketing the property or house viewings etc. However, you will still be required to follow the letter of the law which means you will still be required to use a solicitor.
It may be the case that you and your buyer agree on the price between you, further cutting down the time taken to complete the sale.
Conclusion
In conclusion, there is no easy answer here. But if you want a benchmark to aim for, then it takes around 9 weeks on average to sell a house in the UK. It can take as little as 4 weeks if you have a very attractive property and/or a buoyant market, or as long as 6-7 months if things don’t move quite so quickly.