The single most important thing to get right to sell your house fast is the asking price. Almost every property will attract attention from buyers if the price is right so if you aren’t even getting many viewings, it could be a sign that buyers think your asking price is too high for the size and type of property compared to others in your area.
Continue reading Setting A House Price
Are All Property Auctions The Same?
ABSOLUTELY NOT – also, worthy of note: not all bidders are the same either – our auctions recognise that.
The method we use to sell property is often referred to as a ‘Modern‘ Property Auction’ (also known as conditional auctions). It is different to many other types of auction (offline and online) because of what happens when the bidding ends. In a Modern Property Auction when bidding ends the winning bidder pays a non refundable deposit to secure the property but the crucial difference is the winning bidders are given time to secure lending.
Because our auctions are open to private buyers with mortgage funding (not just cash buyers who are often developers looking to buy a property at rock bottom prices so they can make a profit when reselling), our properties typically sell for 10 – 15% more than similar properties sold at auction houses.
Our fees are lower too, (see next section)!
Similar to the ‘sealed bids’ process, in our auctions a winning bid is the BEST offer the seller chooses to accept which is usually but not always the highest bid. Like traditional auctions, all bids are legally binding and the bidding process is transparent so all bidders are kept informed of other bids throughout the process.
Continue reading Property Auctions
What Will Happen To House Prices After Brexit?
A lot of people have speculated about what will happen to house prices after Brexit. The uncertainty has had a dire affect on the housing market with fewer buyers, fewer sellers and sales taking longer to complete. Despite the smaller volumes of trade and slowed growth rate, house prices have largely remained the same with only Scotland showing a small fall in house prices in the months immediately running up to the first withdrawl deadline in March , so why is the market so affected by the uncertainty over Brexit?
Stark Warnings About House Prices After Brexit Have Excited Buyers
There have been stark warnings from the Bank of England’s governor Mark Carney that house prices could fall by up to 30% from their pre Brexit level if there is no deal. He also said that is his job to plan for the worst case scenario suggesting that the pessimism is based on possibility rather than probability. While most industry experts do predict some sort of drop in price following a no deal Brexit, although there are also those who predict no change and those who predict slight increases .
Gauged by the reduced activity in the housing market it seems as though a significant number of buyers are delaying their plans to buy property until after Brexit due to the fear of negative equity if the property values drop significantly.
The buyers most tempted by the prospect of a drop in property costs are those who are not also selling during the same period – i.e. first time buyers, second home owners and buy to let landlords. They represent a significant percentage of the housing market buyers.
Will House Prices Drop After Brexit?
The simple answer is that nobody can know until a plan has been agreed and even then the extent of any affect on house prices after Brexit will also depend on a range of other economic factors including Secton 24, aka The Landlord’s Tax.
The following information gathers together some relevant factors and attempts a logical understanding of the situation. It is NOT intended as any sort of advice.
Continue reading House Prices After Brexit
National Residential have been at the forefront in setting standards for selling property quickly and fairly since we began in 2007. We were a select group of industry representatives selected to define a Code of Practice For Quick House Sales Companies to The Property Ombudsman (TPO) and in 2013 we helped set up the National Association of Property Buyers (NAPB) to inform the public of companies that agree to the principles and abide by the practices listed in the code.
At the heart of the code is transparency – see Code of Practice for Residential Property Buying Companies
We believe that selling property using our ‘Modern Auctions’ method adds convenience and transparency to our property sales:
- by accepting a combination of online and telephone bids ensures no-one is prevented from making an offer due to other commitments, inexperience of internet bidding or financial arrangements that prevent us ring fencing funds for the holding deposit until the auction ends.
- all offers (including telephone bids) are added to the auction and our consultants keep all participating parties informed.
Although the process that follows online bidding to secure a purchasers agreement usually takes just 24 hours to conclude it can sometimes take longer and the bidding process is only formally ended once we are sure we have the highest bid, the seller has accepted this bid, and the winning buyer has paid their deposit and has passed the financial qualification process with our sales team.
To complement our existing sales options by providing sellers a faster qualification period and more certainty to the highest bidder at the end of an auction, we are pleased to introduce ‘Registered Auctions’ which will run alongside our existing auctions.
The platform is provided by the ‘Essential Information Group’ (EIG), a secure, independent online auction service provider since 1991.
Continue reading Introducing ‘Registered Auctions’.
How Long Does it Take To Sell London Property?
On average, London property takes longer to sell than any other area of the UK.
According to RightMove’s October House Price Index, top London property takes an average of 86 days to sell and the average for all London property types is 65 days.
National Residential sell all types of London property from 1 bedroom flats to 5 bedroom semi-detached housing. Our top property (with a sale price of £780,000) took only 29 days to sell – that is over 50 days below the average for the same type of property.
During the year Nov 2016 to Oct 2017, the average selling time National Residential took to sell all types of London property was just 26 days compared to the average time other estate agents take of 61 days.
Continue reading London Property Market
We sell property in our 28 day auctions for 100% of their market value – but what is ‘market value’?
Market value is the top price that buyers from a mix of the private and investment sectors will pay for a property. It isn’t always the price sellers think their property is worth and it isn’t anything we can control – quite simply, it is what people want to pay.
There is, of course, more than one way to find the market value – one way is to start high and end low, reducing the price every 3 months or so until eventually it is what someone is willing to pay. On the plus side, sellers can dream big but the negative side of being ‘ambitious’ is potentially long and costly delay in selling your property.
The time it takes to sell a property fluctuates with season, the market, the asking price and regional influences but most people are aware of property that has been on the market for months and months and months…
Some estate agents recommend asking prices that, at best can be described as ‘ambitious’ (and at worst misleading) purely to secure representation.
Continue reading Performance Report for July, Aug, Sept & Oct
The National Association of Property Buyers (NAPB) was founded in 2013 in response to to the growth in popularity of Quick House Sales companies.
Quick house sales companies differ from estate agencies because they enable members of the public to sell their properties fast by buying them directly or brokering a deal with a property developer – i.e. without promoting them to the public or having to wait for someone to make an offer. Quick house sales companies that buy property directly must have significant funds available to make an instant purchase.
Continue reading National Association of Property Buyers (NAPB)
National Residential recently celebrated over 10 years of business at Chester Racecourse.
Since 2007 National Residential has helped 1000s of people to sell their houses fast and stress free.
Continue reading Helping People To Sell Their Houses Fast For 10 years
Since the 1980s and 1990s, many thousands of endowment policies have failed to mature as expected leaving thousands of policies with an endowment mortgage shortfall and homeowners struggling to make their final mortgage repayments.
If policy holders do not have savings or some other means to cover the mortgage repayment shortfall, it may be possible to extend the term of their mortgage if they still have a regular income.
However, if they cannot raise money to cover the shortfall or extend their mortgage term, they may have to sell their property to release the equity tied into it.
Downsizing To Repay an Endowment Mortgage Shortfall
A significant difference between the amount the property has increased in value and the money needed to make up the shortfall may provide enough funds to buy a smaller property outright and repay the endowment shortfall.
Continue reading Endowment Mortgage Shortfall
Working with National Residential is positive for both Vendors AND Buyers
At National Residential, we work hard to ensure that the house sale process we offer is quick, simple and efficient for both vendors and buyers, thanks to our experienced and friendly team of customer service professionals, property-sale specialists and panel solicitors.
Continue reading Vendors and Buyers working with National Residential is positive
Selling your Home Online
Your home is likely to have been the biggest purchase you have ever made, so when it comes to selling it, you probably only have one route in your mind – the tried-and-tested traditional route of the High Street Estate Agency: the familiar ‘man in suit’ coming round with a laser measuring device and a clipboard, taking photos of your unnaturally clean and clutter-free rooms, and then enthusiastically leading family after family around your home and emphasising words like ‘functional’ and ‘bijoux’ and drawing attention away from the slightly suspect plastering job in the kitchen…
When selling your home with traditional High Street Estate Agencies, the audience of potential buyers you are able to reach can be a little limited. You may find your audience restricted to people who are physically passing by the Estate Agency and have a spare moment in their busy schedule to look in the window, as well as the few people who still look at the property pages of the local free newspaper (before ‘filing it’ straight in the recycling bin), and visitors to sites such as Rightmove and Zoopla who just happen to enter the exact search criteria for your unique property.
Selling your home online with National Residential is different – investors and property developers, as well as people looking to buy a new family home, regularly visit our innovative auction site. Our Professional buyers aren’t necessarily put off by pictures of messy rooms, a dated kitchen or a lack of curb appeal, unlike many traditional house buyers. Our professional buyers are looking for properties at the right price and that offer a good investment opportunity, and they want a fuss-free sale that can be completed quickly and efficiently, something that National Residential can help to provide.
So why not consider selling your house online through National Residential? Phone today for more information about our innovative, yet trustworthy, selling process – call us now on 0800 612 3694 or 01244 757152
Trusted Online Estate Agent
Every so often, we get a telephone call from a customer asking ‘Why can I trust National Residential with my property sale? What makes you so different from High Street Estate Agencies?’ and we are always happy to explain the numerous benefits of selling property with us!
Let’s clear up one important detail straight away! We are registered with the Property Ombudsman, just like High Street Estate Agencies, and are therefore subject to the same ‘good practice’ guidelines. This means that we work incredibly hard to ensure that all of our actions are honest and transparent, and will work closely with both vendor and buyer to ensure property sales happen swiftly and easily, without complication or ‘hidden’ fees.
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A Quick Sale
“About 15 years ago, my family found themselves in a bit of a difficult situation. We had overstretched ourselves with our mortgage in order to invest in a property that had a lot of potential, but redundancy hit before we were able to realise that potential. As a result, our capacity to continue paying large monthly repayments put more and more pressure on our small family. We put our house up for sale with a traditional High Street Estate Agency, but whilst we waited for our property to sell, the entire focus of our life became about money: How could we keep making mortgage repayments on a reduced income? How much work could we take on to cover the mortgage and our essential living expenses? It was a difficult time, and with hindsight, a guaranteed and quick sale – the likes of which National Residential offer – could have been a good option for us”
This is a real account from a member of the National Residential team, and highlights the stress that a house sale – particularly one that has been imposed on you for negative financial reasons – can have on a family.
Continue reading A Quick Sale – National Residential
Auction Properties UK
Are you looking for a new family home or a new investment property to add to your portfolio?
If so, why not consider bidding on one of the properties currently for sale on the National Residential online UK property auction site?
With National Residential, it is simple to place a bid on one of our properties, and you can do this easily, 24 hours a day from the comfort of your PC or mobile device. We use the very latest technology to enable buyers to monitor properties, place bids, arrange viewings, ask questions, and to keep buyers constantly informed of the current bids and the ‘Best and Final’ end dates for online bidding. But we do not offer a ‘faceless’ or impersonal service – we work with the very best local estate agents to carry out viewings and to help buyers make offers on our properties.
Continue reading Auction Properties UK
In this ‘Digital Age’, where anything and everything is available to purchase online, the likelihood is that most people have used an auction site to buy or sell something, however small. I’ve used eBay, for example, a few times – it’s quick and easy to use, though I am extremely conscious of the fact that I don’t want to get too comfortable using it and end up with a whole house full of random stuff purchased ‘because it was a bargain’… Anyway, despite their user-friendly nature and the fantastic range of products that are available on buy through online auction sites, they do still appear to have issues associated with their human users – how many of you have run into problems, either with a buyer or a seller, who doesn’t fulfil their end of the sale? I certainly have.
As a result of issues that people may have experienced on other auction sites, when some people see National Residential’s innovative auction service, they are a little bit dubious – they want to know: is it really possible to sell a house with an online auction system? Given that nearly everyone has had a dodgy experience on an auction site where either a buyer or seller hasn’t fulfilled their obligations, how can National Residential ensure that buying a house via their online auction works for both the vendor and the buyer?
National Residential’s success with their online auction system is all down to the technology that they have incorporated into the system, as well as their dedicated team of experienced customer service staff who work tirelessly behind the scenes to ensure that all parties involved in the sale are serious and have the funds available to complete. Their hard work really has paid off – thanks to their rigorous buyer approval procedures, 95% of all agreed sales complete!
Continue reading Auction Properties
Modern Estate Agents
At present, only 5% of Residential Properties sold in the UK every year are sold via online Estate Agencies (Which), but in a world where we are increasingly shopping, saving, working and communicating digitally via the internet, whether you access the internet from a fixed terminal at home or work or, like 68% of the UK’s population in 2014, via a mobile phone or tablet ‘on the go’ (source: Ons.gov.uk ), this figure is only going to rise!
National Residential have worked hard to embrace the modern, ‘digital’ Estate Agency ideal of 24/7 clear and simple access to properties for sale, regardless of whether you are at home or on the move. With National Residential, you can bid on a property 24 hours a day from the comfort of your PC, iPad, Tablet or Smartphone. (Modern Estate Agents)
Continue reading Modern Estate Agents
Online Estate Agent
With over 100,000 properties selling in the UK every month (Source: ‘Monthly property transactions completed in the UK with a value of £40,000 or above’), if you are looking to buy or sell a house, where do you start?
More and more people are turning to online Estate Agents when they want to buy or sell a property, thanks to the incredible convenience of these online platforms over conventional High Street Estate Agencies. If you are looking to buy a house, there are now thousands of potential homes available for you to browse through online at the stroke of a keyboard! If you are looking to sell your home, you can now market your property to significantly more people than you ever could if you were relying solely on potential passing trade outside an Estate Agent’s window!
However, even when it comes to online Estate Agencies, not all are created equal! They may all be more convenient than traditional, bricks-and-mortar High Street Estate Agencies, but not all can guarantee a speedy house sale service. National Residential can!
Continue reading Online Estate Agent