What’s the fastest way to sell your Stratford New Town house or flat?
There are three main choices for selling your home in Stratford New Town: use an auctioneer, use an estate agent, or use a fast property buyer. You’ll find each method has unique pros, and a couple of the options also have some disadvantages that some people may find disqualifying.
Consider the merits and drawbacks of each approach before deciding what works best for you, including your budget and your ideal timeline for how soon you need or want to sell your home.
There’s often a delay of several weeks from the date that you submit your home for an auction and the date on which the sale itself will take place. If your property does find a buyer, they will then have 28 days after the auction to complete the necessary steps to finalise the sale. Add these two timelines together and you’ll be waiting at least a few months to sell this way.
Auctions are also risky because you might not receive any bids, meaning your property does not sell. Or you could get just one bid at the reserve, or lowest, price at which you’ll accept a sale. That’s why you need to set the reserve price somewhere that will still earn you a profit even after you subtract whatever commission the auctioneer charges. Your goal is to get many people bidding, pushing the final price as high as possible. But there are no guarantees that this will happen, so it can be a very unpredictable way to sell.
Commission is typically charged as a percentage of your property’s auction sale price, although some auctioneers might make you pay even more or slightly less, so ask specific companies. This will reduce your overall profit, which is a setback if you need to maximise your sale profit.
One reason that people like to use estate agents for selling their homes is that they will handle most of the hard work in advertising the property and organising viewings where they show potential buyers around. But they will charge fees as a percentage of your home’s sale price for this work, which will cut into the sale profit that you can expect.
Some drawbacks of selling this way include the fact that you might be waiting many months, or in worst case scenarios more than a full year, before you get a serious offer. And prospective buyers can walk away from offers without penalty up until when contracts are exchanged.
You’re more likely to also be trapped in a property chain selling this way, where the sale of your home is contingent on the buyer selling their house or flat — and chains can collapse, which would mean the sale falls apart and would put you back to the start of the process.
This is often the swiftest way to sell your home, as LDN Properties can complete the process of buying a home in a handful of weeks, and that includes paying owners their proceeds and exchanging contracts. We can buy houses and flats in Stratford New Town, which is in the east London borough of Newham and has a decent mix of homes and shops, along with amenities like the East London Boxing Academy and the large London Blossom Garden.
Fast buyers are often also able to consider purchasing a much wider variety of properties than estate agents or auctioneers might have experience with successfully selling. The lengthy list of property types that LDN Properties can buy includes homes with short leases, houses with the invasive species Japanese knotweed widespread in the garden, plots of land, properties built from concrete or some other non-standard construction material, flats with cladding, homes with septic tanks, inherited but unwanted retirement homes, houses near power lines, and more.
You’ll also never have to pay commission when you sell your home to LDN Properties, so you are guaranteed to receive the full profit from whatever price we offer for your flat or house, compared to the fees that you’ll have to pay when selling via an auction or estate agent.
