Press Release: October 20, 2020
Survey Reveals Unusual Reasons for Selling UK Homes
KEGWORTH, Leicestershire, October 19, 2020 — A man whose doctor told him he was suffering from a condition that meant he could die at any time quickly sold his house so he would have the cash to take his family on the trip of a lifetime. This is just one of the emotionally driven reasons why people sell properties in a flash, a new survey reveals.
Selling a property is often an arduous process that can take months — if not years — until a buyer who will pay the asking price or close to it is found. But when emotional reasons are factored into the sale, the need to sell quickly becomes a far stronger motivation than waiting to get the best possible price, according to those that took part in the poll.
The survey — carried out by leading UK property firm House Buyer Bureau and involving around 17,500 people that either sold a property through the company or were considering it (and gave their reasons for wanting to sell) — also highlighted a need among sellers to avoid the usual stress of a prolonged property sales process by selling quickly.
No Time to Wait Around
Wanting to escape personal situations and start afresh was another main reason given by respondents to the House Buyer Bureau poll, data gathered from talking to potential sellers about their motivations for selling said. It included people going through the trauma of separation and divorce that just wanted to move on and start afresh and were not all that worried about getting the maximum price for their property as long as they could sell it and buy another.
Another reason respondents gave for offloading their home via a property firm and getting cash was bad health — either of the person who owned the property or a family member. The sale would raise much-needed funds to pay for medical care or allow them to sell up and buy a property near their family members so that they could help look after them, respondents said. Elderly home owners selling to fund their move into a care home was another popular reason, with the speed and ease of a cash sale an attractive option.
Others who took part in the survey said they wanted to sell a property quickly because a family member had passed away, and they didn't wish to go through the added trauma of having to deal with lots of viewings, leaving them to get on with their lives without further emotional turmoil.
Not All Bad Quick-Sale News
Some respondents who took part in the House Buyer Bureau survey said they wanted to sell in lightning-fast fashion because they were leaving the UK and starting a new life abroad, or they were relocating to the country of their birth and needed the cash to finance their move and buy a property in their destination country. Other property sellers said they had been through the sales process before and nothing had happened, and they then managed to sell their home via House Buyer Bureau.
Chris Hodgkinson, Managing Director of House Buyer Bureau, said it wasn't surprising that emotional reasons were the primary driver of fast house sales because some people wanted their cash immediately to buy elsewhere or to do something. The company, he said, was renowned for being honest, easy to do business with and being sensitive to customers' situations.
"The results of our survey show there are many reasons why people sell up quickly," he said.
"Whatever the reason, we're here to give our customers the best possible cash price. We don't use pushy sales tactics or offer high, intending to then buy low. We are honest with our sellers from the get-go, as we know that if they've made the decision to sell quickly for cash, it's because they have something else going on in their lives that means they don't want the added stress of selling their house on the open market."
* * * * *
For further information, please contact:
Head of Marketing, House Buyer Bureau