Given the demand for homes has been far greater than the supply of property in recent years, it is no surprise that many homes have sold quickly. While this poses some challenges, there is no denying a fast sale is often less stressful for the vendor.
If you are waiting on a drawn out process in the property market, you are under pressure, and often feel far from your best.
Of course, there has been a downturn in demand of late, and a recent study by House Buyer Bureau suggests there has been a growth in the volume of homeowners looking to sell their home quickly.
The company has followed up this research, and they’ve published findings on why sellers are looking to sell their home quickly.
People want to move on quickly
The predominant response was so they can buy their next home, which was said by 28.2% of people. The second largest response was 17.9% of respondents saying they had an empty property to sell. This is costly, and every day without a sale costs money, so it is easy to see why so many property owners in this position are keen to sell quickly.
The third most popular response, said by 9.5% of respondents, was family related reasons, and 7.5% of respondents said they were buying or renting another property.
There are many reasons for people to sell a home in a hurry
5.8% of respondents sold up after a bereavement and 5.7% of respondents cited financial difficulties for their sale. Ill-health was a factor for 3.8% of respondents, downsizing was said by 2.2% and 2% of respondents cited a divorce or separation as the key factor in why they need to sell property quickly.
Chris Hodgkinson, Managing Director of House Buyer Bureau, commented: “There is a common misconception that those looking to sell their home fast are forced to due to their financial situation. While this is certainly a factor in some cases, it’s far from the predominant reason that sellers utilise the quick sale route and they are far more likely to do so to rescue their onward purchase. In recent months, a higher level of market uncertainty has made this reason all the more prominent as many sellers have found their onward purchases in jeopardy, primarily due to their buyer withdrawing as a result of the increased cost of borrowing.”
Whatever reason you have for selling your home quickly, it is best to work with a skilled and experienced local estate agent. We have considerable experience in and around Wynyard, and there is demand for homes here. If you want to connect with buyers, come and speak with Anthony Jones.
Contact Anthony Jones for all Wynyard property matters
If you are looking for help with any matter of the Wynyard property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01325 776424.
