London homes sell fastest throughout UK
- 15th July 2014
- Property Tips
Forward planning is needed to avoid unnecessary delays and speed up the property sales process.
Sellers in London are finding it easiest to sell their homes as property sales in the capital are completed quicker than anywhere else in the UK.
On average, London homes are sold within four weeks compared to the national average of six weeks. Just as importantly for sellers, the sale price normally averages very close to the asking price.
Stephen Ludlow, Chairman at ludlowthompson, explains: “The London sales market has been moving much more quickly than in other parts of the country. The most frequent cause of hold-ups recently has been delays to the paperwork, which can easily be avoided through a bit of preparation.
“For example, if a leaseholder needs to apply to their local authority for a management pack, this should be done well in advance as they can take eight weeks to arrive. By not applying for a pack in good time it can cause delays throughout the sales chain.
“It can also take time to arrange a mortgage appointment because of new mortgage checks that lenders are now forced to go through. Sellers in a chain may want to consider arranging their finances as early as possible to avoid delays once a buyer is in place.
“However, just as important as any of these factors is the need for an experienced and capable sales progression team who will ensure that the sales goes through as smoothly as possible.”
The most frequent cause of hold-ups recently has been delays to the paperwork, which can easily be avoided through a bit of preparation.
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