What You Need to Know When Buying or Selling a Home

September 25th, 2014

Many individuals, when looking at houses for sale by owner, concentrate purely on house sales prices. Even though how much the property sells for is definitely worth focusing on, one also needs to take into account the length of time it takes for any average house to sell. Both house sale price plus the length of time to sell differ tremendously based on the section in London where this home is found. Across Britain, the average time it will take for any house to be sold will be slightly less than six weeks, an improvement as compared to the prior year when it took somewhere around nine or so weeks for the residence to sell. Residences in the greater London region tend to sell in less than a month, yet houses in the northeastern area of the country take approximately two and a half months. On top of that, the typical home owner should prepare to get 3.4 percent below the published house sale price tag. This is a significant difference from the prior year as the discount, or contrast between the set asking price plus the final sale price, was 7% in the earlier section of 2013. One will notice variations in this area also, based on the place that the property is situated. Houses in and close to London ordinarily sell for 1.3 percent below the original selling price, while homes in the West Midlands typically receive a price reduction of almost four and a half percent. Remember the information above when looking at houses for sale since they actually affect the original asking price as well as time necessary to sell off the house. This could be of importance when you go to purchase or sell.