So what’s the cheapest way to sell a house?
When it comes to selling your house, one of your main goals will be to get the most out of the sale. There is no guarantee that you will achieve your asking price, but what you can control are your costs of selling.
We will show you the different selling methods and reveal the cheapest way to sell a house.
Using the cheapest method will allow you to get the maximum amount of money offered, after factoring in the cost of fees.
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Should I use an estate agent to sell my house?
Selling a house through an estate agent is typically the most popular way to go. But is it the cheapest? That depends on the kind of estate agent you choose.
High street estate agents are well-known and offer a comprehensive service.
They will do valuations, photos, floor plans, and EPCs, advertise your property on portals, conduct viewings, and handle negotiations. This comes with a higher price tag for the estate agent fees. However, you won’t have to pay anything if the sale doesn’t go through.
Online estate agents offer a more basic service but at a lower cost. Hybrid estate agents are a combination of high street and online agents. They offer a ‘local property expert’ for valuations and may also manage viewings for an additional fee.
High street estate agents cannot be seen as the cheapest way to sell as you will have to pay the estate agent fees, as well as other fees such as legal and removal fees.
Hybrid and online estate agents offer a cheaper option but are still not the cheapest way to sell a house. For the lowest costs, you will need to use another sale method.
Who are the cheapest estate agent?
With an estate agent, you will sell to an owner-occupier and achieve close-to-market value.
When choosing an estate agent, you should choose the best agent. The one who has sold most houses in your area.
Cheap or free estate agency service isn’t worth it. You won’t get the service you deserve.
Find a great estate agent, incentivise them to sell your house for the best price and within your timescale.
On the flip side, when you sell on the open market, there’s no guarantee it’ll be a speedy or secure sale. You could spend months prepping your property for viewings and waiting for a buyer, and if you’re looking to sell your house quickly, that’s not ideal.
There’s always the possibility that a property chain collapses – buyers may pull out at the last minute, leaving you in a difficult spot.
Here at Property Saviour, we will buy your house quickly and for cash.
By selling to us, you’ll get a fast and free sale, and we’re a genuine cash buyer, meaning we can buy your property as soon as you’re ready to sell – no uncertainty like on the open market.
Sell with certainty & speed
Is it cheaper to sell your house privately?
Selling a house privately is a good idea if you have an extensive network of friends and family or have time.
Selling a house privately is cheaper, but do you have the negotiation, marketing skills and ability to progress the sale?
What about Free Property Auctions?
Estate agents promote a free auction service called Modern Method of Auction. The sellers are told there are no fees payable.
But what they don’t tell you is that auctioning a house will cost your buyer £9,600 buyer’s premium. This means that your buyers will bid £10k less for your home.
You will also need to put in a very low guide price and risk selling the property at just 10% above it.
Auctions aren’t not fast. You’ll need to allow up to 3 months for it to conclude.
Even after paying upfront entry, legal fees and searches, there’s no guarantee that your property will sell.
Is part exchange on a house worth it and is it a good value for money?
Selling a house through part exchange can be the most cost-effective way. This is because you won’t have to pay for estate agent fees, as well as the costs of marketing and commission.
In a part exchange scheme, you use your house as a part payment for a newly built property. This means you’ll need to pay the difference between your current home’s value and the new build’s value.
But remember, you will be paying a new build premium, and the builder will down value your home.
How does part exchange work?
To get started, you should check out new build developments in your area and find a house you like and can afford. Contact the developer to find out if they offer part exchange for the property you’ve picked.
The developer will then ask for information about your current home to see if it is eligible for their part exchange scheme.
They will arrange for two independent estate agents or valuers to view your property and give it a valuation based on the ‘selling price’ instead of the ‘asking price’.
If the developer is satisfied, they will make you a formal offer. If you accept, you and the developer will work towards exchanging contracts.
This could involve delayed completion as you’re buying a new build, so there is no guarantee when it will be ready.
Part exchange does come with some risk. There is no guarantee when the new build house will be ready; it could be a year or more.
By this time, you could have sold your house and moved into a new house already.
Also, part exchange is not necessarily the cheapest option as you will still have to pay legal fees and won’t get close to the market value for your property.
There is also no guarantee that your chosen developer will allow you to participate in part exchange, so it may not be the best choice for you.
Cheapest way to sell a house?
If you’re looking for the most cost-effective way to sell a house, these are some of the options:
- DIY conveyancing: If you’re hoping to find the cheapest way to sell a house, you might be tempted to do the legal side yourself. However, the conveyancing process is complex, and the buyer’s solicitor won’t work with you as you are not a qualified solicitor.
- Selling at auction: Provided you have extensive auction experience, this can be a great way to sell, particularly in a seller’s market. But are the financial risks of upfront fees and a really low guide price worth it?
- Gazumping: In a seller’s market, you can ask for offers over. This will get buyers into a bidding war. There are a variety of reasons why your sale may not go through before exchange, including gazumping, which is when another party makes a higher offer on the house you were in the process of buying and has that offer accepted, pushing you out of the purchase.
- Quick house sale companies: These companies can purchase your home for cash. Always check for proof of funds in the form of a bank statement, and carefully check their reviews are genuine. Here at Property Saviour, we have real Success Stories. We’ll also pay £1,500 towards your legal fees. We’ll complete the sale within 10 days or at your timescale because we’d love to earn your review.
Sell to us!
We’re a friendly cash house-buying company that buys properties in any condition and location. We can have your house sold in as little as 10 days, and we’ll even cover your legal fees, so you don’t have to worry about a thing!
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
