The process of selling a house in Brighton typically takes around 170 days, starting from the first day of marketing until legal completion. However, it's important to note that the actual time can vary depending on various factors such as mortgage applications, market conditions, location, property type, and pricing strategy. In this article, we'll delve deeper into understanding the breakdown of these 170 days.
Step 1: Accepting an Offer
On average, nationally, it takes approximately 50 days (an increase from 43 days in 2022) to accept an offer on a property. This timeframe includes listing the property on the market, conducting viewings, negotiating offers, and reaching an agreement with a potential buyer.
Step 2: Time from Offer Acceptance to Completion
Once an offer is accepted, it typically takes around 120 days on average for the sale to be completed. This period involves finalizing the legal and financial aspects of the sale, including the exchange of contracts and the completion process, which usually takes place within a week or a fortnight.
It's important to keep in mind that these figures are based on averages, and the actual duration may vary depending on individual circumstances. If you are looking to sell your house quickly, there are a few steps you can take to expedite the process.
Several factors can influence the time it takes to sell a house, but the three major ones are:
Asking Price
The price you set for your property in relation to similar properties on the market has a significant impact. Overpricing your house can result in fewer interested viewers and potentially fewer buyers. On the other hand, setting a competitive price can generate immediate interest. It's advisable to research properties similar to yours that are currently on the market. When searching through property portals, try sorting them not only by price but also by the duration they have been listed. This will provide valuable insight into the current state of the property market for homes similar to yours.
Market Condition
Whether the market is a buyers' market, balanced market, or sellers' market is another crucial factor. In a hot market or sellers' market, where demand exceeds supply, homes tend to sell quickly, and pricing may be less sensitive. However, in a cold market or buyers' market, where supply exceeds demand, pricing becomes extremely crucial. Setting a competitive price becomes even more essential to avoid an extended period on the market without any potential sale.
Quality of Solicitors
While agreeing on a price and making a sale agreement is one aspect, the efficiency of your solicitor plays a vital role in the progress of your sale. Opting for a responsive solicitor who works well with estate agents can help prevent unnecessary delays and expedite the overall selling process.
If you are considering a move in the next 6 to 12 months, now is the perfect time to start planning. Selling your home can be a complex process, but with the proper guidance, you can navigate it smoothly and efficiently. As experienced estate agents, we understand the local market dynamics and have a track record of success.
How Brand Vaughan can help
Our team is well-versed in the factors that impact selling time, including the price asked, and market conditions. We work with responsive solicitors who prioritise efficiency and collaboration regarding legal matters. Their cooperation with us as estate agents helps prevent delays, ensuring a smooth progression from offer acceptance to completion.
By pricing your property competitively, we attract immediate interest from potential buyers. Our knowledge of the local market enables us to navigate buyer and seller markets effectively.
If you want to sell your home, we offer a free no-obligation market appraisal to discuss your selling timescales. Our personalised advice and guidance are tailored to your situation, giving you the information you need to make informed decisions. Together, we can make your move a reality.