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Quick Move Blog
Friday, 24 February 2012
Looking for tips for selling your house? Scrap checklists and conventional methods and put yourself back in control. Being one step ahead of the falling market will help you to sell your house when you want to, rather than when the market dictates you will.
Don’t be afraid to challenge conventions and the traditional methods of selling. Contrary to popular belief, there is another way to sell that doesn’t involve the uncertainty and stress of estate agents or house auctions.
Home buying companies have become increasingly popular over the last decade and they offer a valuable service to those who need to sell their property quickly. In return for a quick house sale – in as little as seven days with the right company – you can expect to receive around 85% of the full market value. This service is not for everyone, but for those to whom a quick sale is more important than maximising the value of the sale, it is worth its weight in gold!
So now the tricky bit, how do you differentiate between the genuine instant homebuyers and those who have to secure a mortgage and/or investors, thus taking much longer than they promise?
Here are our tips for ensuring your homebuyer is a reputable one…
Trying the innovative approach of using a homebuyer will put you firmly back in the driving seat and allow you to sell your house for a guaranteed price within the timescale you need.
Find out more, visit Quick Move Now or call us on freephone 0800 068 3366.
Monday, 20 February 2012
The Council of Mortgage Lenders today reported that gross mortgage lending was up 10% on a year ago, possibly as a reaction to buyers scrambling to complete house purchases prior to the end of the stamp duty holiday in March.
Lending fell by 14% from December 2011, but was 10% higher than January 2011 with an estimated £10.5 billion lent.
The amount lend in mortgages does not now give a complete picture of the housing market, with 40% of sales now being to cash buyers, up from 15% in 2005.
Wednesday, 15 February 2012
Quick Move Now House Sale Fall Through Index - January 2012
Quick Move Now provides one-of-its-kind data to homeowners to help with assessment of the housing market.
The house sale fall through rate for January 2012 was 30.47% so around one in three house sales did not result in completion. Dan Luke, Quick Move Now’s Business Manager, comments: “Although significantly lower than the peak seen during 2008, the fall through rate has remained stagnant at around 30% for the past 12 months. Taking out the seasonal variation by comparing the figures for January (see below), it is apparent that the rate has remained fairly constant for the past four years and it is not expected to drop back to the 2006 level of under 15% at any point in the near future”.
Fall Through Rate – Annual Comparison
| January 2009 | January 2010 | January 2011 | January 2012 |
| 34.57% | 36.13% | 30.72% | 30.47% |
“Such a consistently high fall through rate is difficult to manage for a company, let alone an individual homeowner. The most common reason for house sale fall throughs at present is lending issues. Often the problem is not with the direct buyer, but with a buyer further down the chain”.
Data Calculation:
Quick Move Now sells hundreds of properties each year and the fall through statistics are calculated month-on-month using a six-month average. In reality, the fall through rate for homeowners would be approximately 10 – 15% higher as Quick Move Now has a professional resale team proactively managing the completion process.
Company Information:
Quick Move Now is the UK’s leading home buyer, offering a quick, secure and hassle-free house sale. Experienced researchers and independent valuers work together to ensure that offers made are fair and a friendly, supportive team looks after the customer every step of the way. For further industry analysis and comment, please contact donna.houguez@quickmoveproperties.co.uk.
Tel: 0800 068 3366
www.quickmovenow.com
Monday, 6 February 2012
A house auction is often viewed as a speedy, certain way of selling, whereas in actual fact, the vendor does not have control, the price can be driven down significantly and many lots pass through unsold. Buyers at an auction must have cash or a mortgage offer in place; in the current climate, this kind of buyer is rare and often reluctant to pay the guide price, let alone the reserve. Many homeowners find that property needs to be priced very cheaply, bidding wars are non-existent and the next auction is a long time away. In reality, there is no certainty of selling.
At Quick Move Now, we speak to hundreds of vendors every day, all experiencing different problems and all selling for different reasons. There is no set formula which will suit every client which is why we tailor our service to suit each individual and offer a unique alternative to selling via auction. As it becomes more difficult to sell property, we are hearing many stories from clients about their experiences at house auctions.
A client rang Quick Move Now this week following an unsuccessful auction attempt. His property had been on the market with an estate agent for ten months (valued at £260,000 then reduced to £245,950) without interest so he decided to try selling it at auction. The auction house suggested a guide price of £205,000 and a reserve of £235,000, expecting a bidding war. Our client’s property was advertised online for two months prior to the auction and the auctioneer advised him that there had been no interest in that time so they would need to drop the guide price to £195,000.
At the property auction, no bids came in. The homeowner was left without a buyer and his property had been advertised at low prices which had set the benchmark for any future marketing or offers. Precious time had been wasted and the vendor had to pay an auction insertion fee of £500 even though they had not secured a sale (fees would have been £500 plus 1.5% of the sale price if a buyer had been found). Quick Move Now made the client a formal offer within seven days, the client chose a timescale for completion and Quick Move Now purchased the property using cash funds on the date stipulated.
For an alternative to auction and open market uncertainty and a unique approach to selling a property, vendors can depend on Quick Move Now, the UK’s leading home buyer. We purchase property directly from vendors without needing mortgage finance, investors or third parties. All offers are made at no cost and with no obligation and home sellers receive a guaranteed sale within the timescales needed. In order to find out more, visit www.quickmovenow.co.uk or call us on free phone 0800 068 3366.
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