How long does it take to sell a house? We’re optimistic when completing a sale, but in reality, it’s much more of a slog than most think.
House prices are soaring right now and lots of people are moving home, but new research reveals that we’re not as savvy as we might think when it comes to the selling process.
How long does it take to sell a house?
Estate agency Yopa surveyed 2,000 Brits and found that 72 per cent of them believe it takes just three months or less – from the moment a property is put on the market, to when the keys are handed over. Furthermore, just over a quarter believe the whole process takes a month or less.
In actual fact, the estate agent has found the whole process takes around 130 days in faster-moving markets and up to a whopping 200 days in certain areas of the country. That’s almost seven months in reality!
The current rush to benefit from the stamp duty holiday before it comes to an end on 31st March 2021 means that the process is even slower at the moment. The high level of demand is causing backlogs at the conveyancing stage, in particular, Yopa reveals.
The survey also reveals that almost 2 in 5 Brits believe it takes less than six viewings on a property before an offer is accepted.
We’re also optimistic when it comes to estimating how long we think it takes to pack up all our belongings for a move to a new home. More than half surveyed said it would take them a mere week or less.
How long do you need to pack for a new home? We certainly need more than a week.