So how long does it take to sell a property? On average it takes anything from a few weeks up to 6 months to sell a property in the UK and depends many different factors. If you are looking to sell your property and want to find out more about how long the selling process takes, you’re in the right place!
According to Statista, in October 2022, it took on average 40 days to sell a property.
It’s important to remember that once a property offer has been accepted and it’s taken off the market, it can take another 4-6 months for the paperwork and legalities to be worked through before the sale is complete and the keys handed over to the new owner.
A number of external factors can also affect how long it takes to sell a property:
The Current Market
The current state of the market has the power to directly affect how long it takes to sell your home. If the demand for homes is high at any given time, this is good news for you as a homeowner as there will be more interest in your property and house prices are higher.
The Size and Condition of the Property
The size and condition of your property will tell a lot when it comes to selling. The larger the floor and garden space in your home will make your property more interesting to potential buyers and will also drive up the overall price. If the general condition of your home is good or above average, this will also attract buyers more quickly.
The Price of the Property
Simply put, if your property is overpriced for the current market, the area where it is situated or the condition it is in, you will struggle to sell it within a quicker time frame. In fact, a property being overpriced is one of the main reasons why you may not achieve interest over a period of time.
Property Chains
Property chains are notorious for slowing down a property sale as each property in the chain is in a different state of completion. A property chain could be disrupted because of paperwork or even something as simple as the next person in the chain going away on holiday. Each stage of the chain is entirely dependent on the next until completion can be achieved. If you would like to read more about how property chains work, see our blog here
https://www.holdencopley.co.uk/blog/how-do-property-chains-work.html
If you are ready to sell your property, check out our previous blog ‘5 Top Tips for when You are Selling Your Property’ here.
https://www.holdencopley.co.uk/blog/5-top-tips-for-when-you-are-selling-your-property.html
If you still need more support or advice, we are happy to help. Book an appointment with our team here.