What is the fastest way to sell a house for cash (Sell your house fast!)

How do you sell a house urgently?

How do you sell a house urgently? Realistically the only way to guarantee a fast sale for cash is to sell to a house buying company or investor. This is the fastest way to sell a house for cash!

What is the fastest way to sell a house for cash - Sell your house fast

What is the fastest way to sell a house for cash in less than 20 seconds…

The fastest way to sell a house for cash is to sell to a cash home buying company or an investor. This way you should have the money in your bank within 30 days. No long chains, no delays, just sell your house fast. But be prepared to take a significantly reduced offer of between 75-80% of fair market value. Unless you opt for a lease option deal with an investor. This way of selling your home is just as fast, but means you may achieve market price or more.


What is the fastest way to sell a house for cash?

This is a list of ways of the fastest way to sell a house for cash:

  1. Sell to cash home buying company or investor.
  2. Sell to an investor using a lease option.
  3. Use an auction.
  4. Drastically reduce your asking price – by at least 10% off.
  5. If you’re buying a new home, look for builders offering a part exchange deal.
  6. Consider an assisted house sale.

I could have also included a change of estate agent. Or alternatively to instruct two or more agents. But in reality this may not actually help to sell your house any faster.

Most, if not all, estate agents use the internet to sell.

Nearly all estate agents use Rightmove or similar. Also, most people search the likes of Rightmove before they even visit an estate agents high street premises.

That means, you’ll simply spend more on agents commission and not necessarily sell your house any faster. But it will certainly not be for cash! You may still end up in a long chain and suffer the usual long delays associated with a conventional house sale.

More Reading: How to choose an estate agent (Don’t choose before reading this)

The fastest way to sell a house for cash in more detail

Let’s take a look at each of the above options to the fastest way to sell a house for cash in more detail.

1. Sell to cash home buying company or investor

Selling your home to an investor or cash home buying company means you’ll have cash in your bank within 28-30 days. This is by far one of the fastest ways to turn your house into cash.

Having said this, solution number two below can also be just as quick and sometimes quicker (but it has other benefits too, so see below). It’s either this method or option two below which is favoured by those who are in financial difficulty.

For those who are perhaps behind on their mortgage payments and facing repossession need to act fast.

More reading: Can you sell your home if you are behind in mortgage payments?

If you are in arrears and if you’re facing being repossessed, you need to act quickly.

This doesn’t necessarily mean you need to sell your house. But of course, if you feel this is what you want to and need to do, a cash sale is possibly the best option.

You don’t have the time to wait for the usual house sale process. You can’t afford to have the sales chain breakdown.

More Reading: How can I stop my house being repossessed? (12 Options To Stop it)

A cash sale means no lengthy chains and no delays in the sale process

By opting for a cash sale using an investor or cash home buying company, you cut out all the lengthy delays associated with selling a house in the conventional way.

However, there are drawbacks to this solution.

Be prepared for a below market offer of between 75-80% of market value

You have to be prepared to take a significantly reduced offer on your house. This will likely be between 75-80% of the fair market value. This offer will of course depend on what work is needed to bring your property up to standard.

However, looking on the bright side of this, if you are facing a repossession and your home does get repossessed, the bank will sell your home at auction for around 75% of market value, or less!

More Reading: Home repossession process in The UK (When is it too late to stop it?)

However, the biggest downside of going through with a repossession is that you have no control over the process. There will also be legals fees, court fees and continued interest to take account of.

Your mortgage company will only pay off your mortgage to the extent of what they receive from the sale of your home, after selling fees. Which means that they may come to you for the balance.

At least if you take control of this process, you may stand a chance of repaying the whole of your mortgage. Whilst your credit report will already be adversely affected By being behind on your mortgage payments, by stopping the repossession can only serve to help.

However, if you’ve not yet gone into arrears, you may be able to save your credit report by selling fast and paying off your mortgage quickly. But paying off your mortgage is not the only solution, see lease options below.

But if you are in negative equity, or if 75-80% of market value won’t be enough to pay off your mortgage, you need to be seriously considering option number two below, which is a lease option.

More Reading: If your house is repossessed do you get any money back (Or lose it all)

No agents fees plus legal fees are paid for you

One of the benefits of opting to sell to an investor and by not engaging an estate agent, is you’ll save on the estate agents fees. More often than not, the investor or home buying company will also offer to help pay your legal fees too.

Choose your investor or cash home buyer wisely

Please be careful with who you choose to buy your home for cash, as with all industries there are scammers in this industry too.

2. Sell to an investor using a lease option

The other way to sell your house fast for cash is to sell to an investor on a lease option.

A options are property contracts that have been around since the dawn of property law in the UK. An option is a legal contract which provides for a formal deal between the ‘purchaser‘ and the ‘seller‘ of a house.

The option contract provides for an option to purchase either during the option term or at the end of the contract.

The lease element of a lease option is to allow for regular payments to the house seller during the course of the option contract.

Put simply, a lease option is also known as a lease with the option to purchase.

As mentioned, a lease option is put together using a legal document, which is prepared by a UK solicitor. This legal document states that the investor has the right to buy your property between now and some point in the future, at an agreed future price. This future price is what’s also known as the ‘strike price‘.

Fast upfront cash with a lease option – the option fee

But the key part of the lease option is the ‘option fee‘ or upfront cash or advance. The amount of cash advance will among other things depend on how much equity you have in your property. This will get paid to you at the start of the deal.

The key benefits of a lease option are that they are very quick to action, so you sell your house extremely fast indeed. These can be done in less than 30 days if needs be.

But you need good solicitors that understand lease options in order to achieve this.

Market value or more when you opt for a lease option

The other key benefit to a lease option, which was referred to above, is that you are more likely to sell your house closer to the true market value of your home. But sometimes you can get more than current market value.

Lease options are ideal not only to achieve a fast house sale, but also as a tool to act extremely fast where the financial situation requires fast action, like you’re about to be repossessed.

The key understanding of a lease option for any one is to realise that even though your home may be worth what it is, it’s only the equity in your home that you own.

The equity in your home is the difference between what your house is worth and what you owe in your mortgage.

More Reading: What does it mean to have equity in your home? (How home equity works)

Permission from your mortgage lender

In order for a lease option to work, it will require your mortgage lender to agree to the deal. Having said that, most mortgage companies agree. This is an extremely easy process and one that you won’t have to worry about.

Whether or not you’re in arrears, it doesn’t matter. But if you are behind on your mortgage payments, your mortgage company will usually welcome someone like us to take over the responsibility of your payments. No mortgage lender wants to go through with a repossession. They would all prefer to find an alternative solution.

More Reading: Selling my house on a lease option (Are lease options a good idea?)

3. Use an auction sale

A better way to sell your house other than using an estate agent, if you need to sell fast for cash, is to use an auction sale. The benefit of using an auction to sell your house, is that it’s usually faster than you would sell using a conventional estate agent.

Completion dates of auctions are usually set for 28 days after the hammer falls. But the winner at the auction is usually required to place a 10% deposit on the day.

But there are drawbacks of selling at auction, as follows:

  • Auction fees are not always cheap.
  • If you manage to sell, expect to achieve between 75-85% of market value.
  • Selling at auction is not guaranteed, this boils down to how much you set your reserve at and how well attended the auction is on the day.
  • Be aware that the new modern method of auction via an estate agent isn’t free and it doesn’t always work.
  • Even though the completion date is usually set for 28 days after the hammer has fallen, there is a lead-in time before the auction takes place.

4. Drastically reduce your asking price – by at least 10% off

If you are trying to sell your house using the conventional way by way of an estate agent, or even if you choose to sell your home yourself without using an estate agent, if you reduce the price, this will have the affect of speeding up the sale.

More Reading: How Can I Sell My House Without An Estate Agent? (Top 11 Steps)

However, in order for this to be successful and for your house to stand out, you really need to reduce the asking price by a minimum of 10%.

Be aware that even in a slow market, this option may not always work. But also be aware that you are still marketing to home-buyers.

With home-buyers, and even if they manage to secure your property for less than market value, you may still end up in a long chain or suffer long delays whilst they arrange for mortgages and the like.

More Reading: How to sell a house fast in a slow market (7 top tips for the UK)

5. If you’re buying a new home, look for builders offering a part exchange deal

This option will only ever work if you’re looking to buy a new-build property. But of course not all builders and developers will offer a part exchange.

This option also only works where you’re trading-up, that is, if the house you’re buying from the developer costs more than the house you’re selling.

With a part exchange deal for your house, you can usually expect to be offered some where between 95-100% of its market value.

6. Consider an assisted house sale

Assisted house sales, along with lease options described above, are one of our favourite solutions to help sellers sell their house fast.

An assisted house sale is worth considering if your property is proving hard to sell because its empty and needs repair work or money spent to modernise its appearance.

Essentially, the way an assisted sale works is the assisted house sale specialist will pay for (and manage) the refurbishment. At the end of the refurb, the investor will sell your house for an up-lifted market value. In return for doing this arrangement, you not only get a good price for your house, but you also receive a share of the sale profit.

The sale profit is the difference between the agreed price to be paid to you and the final sale price, less the refurbishment costs, legal fees and selling costs.

More Reading: What is an assisted house sale (Assisted sale cash advance)

Make sure you need to sell your house fast for cash

As a closing comment, please review your situation. Just because you’re in arrears and there’s the potential to be repossessed, this doesn’t always mean you need to sell fast for cash.

We are always happy to oblige you with help and a friendly voice to discuss your options. If you do want to ask a question, please contact us, or alternatively leave a comment below.

Your alternative if you’re in financial difficulty is to speak with your local Citizens Advice Centre.

You may need to sell your house fast for other non-financial reasons. If you do need to sell your house quickly and you need help on this, we are here to help you if we can.

More Reading: How to sell your house quickly for a good price (Plus 7 mistakes to avoid)

I hope you’ve got something from reading this article on what is the fastest way to sell a house for cash

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Also, if you have any questions, please feel free to comment below too. Alternatively, if you need more help, please feel free to contact us on our contact us page here. Or join the discussion and ask your question in the property forum.

What is the fastest way to sell a house for cash (Sell your house fast!)

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