Selling UK Property From Abroad
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Can I Sell My House from Abroad?
Selling a house can be a complex process, but there are ways to simplify it, depending on your priorities such as speed, convenience, and financial return.
Yes, you can sell your house from abroad, but it requires careful planning and coordination to ensure a smooth transaction. The first step is to decide whether you would like a cash house buying company to buy the property or entrust a reliable real estate agent to sell it who has experience with international clients. If you are to go the way of the Estate Agent then make sure to choose an agent who communicates effectively and can keep you informed through regular updates via phone, email, or video calls.
To facilitate the legal aspects of the sale, you may need to grant a Power of Attorney (PoA) to a trusted individual, such as a family member, friend, or lawyer. This legal document allows your representative to act on your behalf, signing necessary documents and handling other legal formalities. The PoA must be notarized and may require additional legalization, such as an apostille, depending on the countries involved. This step ensures that your absence does not hinder the progress of the sale.
Lastly, handle the financial and logistical details with the help of a solicitor or conveyancer familiar with both local and international property laws. They will ensure all legal documents are properly executed and advise on any tax implications. Setting up an international bank account can streamline the process of receiving sale proceeds and managing expenses. By combining the efforts of your real estate agent, your Power of Attorney, and legal professionals, you can successfully sell your house from abroad, ensuring all aspects of the transaction are managed efficiently and legally.
Or you can make the sale of your house much easier by selling it to us. SellTo are a Cash house buying company (also known as real estate investment companies or cash home buyers.)
What are cash buying companies?
Cash house buying companies are businesses that purchase homes directly from homeowners for cash.
These companies offer a quick and hassle-free way to sell a house, often closing deals in a matter of weeks.
Why use a cash house buyer?
Here are some key characteristics and aspects of these companies.
Quick Sale Process.
One of the main reasons why sellers choose to work with cash house buyers is because of the quick sale process. When you sell your property for cash, you can typically close the deal within a matter of weeks, rather than waiting months for a traditional sale to go through. Even then, sales have the habit of falling through at the last minute. A Fast Sale an be extremely beneficial if you are in a rush to sell your property.
Cash Offer.
We provide cash offers, eliminating the need for mortgage approvals and reducing the risk of the deal falling through.
Avoid property chains.
One of the major advantages of selling your house to a cash house buyer is the ability to avoid property chains. Property chains can be problematic and stressful, as they involve multiple buyers and sellers all relying on each other to complete their transactions. If one link in the chain breaks, it can cause delays or even collapse the entire sale. By working with a cash house buyer, you can eliminate the risks associated with property chains and ensure a smooth and quick sale process.
As-Is Purchases.
They usually buy properties in their current condition, meaning homeowners don’t need to make repairs or improvements. This can be particularly appealing to sellers with homes that require significant repairs.
No need for estate agent fees.
When you sell your house to a cash house buyer, you can avoid the need for estate agency fees. Traditional property sales often involve hiring an estate agent to market your property, conduct viewings, and negotiate with potential buyers. These services typically come with a fee that is usually a percentage of the final sale price.
In Summary:
Speed: The process is much quicker compared to traditional sales.
Certainty: Cash buyers don’t need financing, reducing the chances of the deal falling through.
Convenience: Homeowners don’t need to stage their homes, host open houses, or make repairs.
Flexibility: Companies can work around the seller’s timeline and needs.
At SellTo we know how difficult it is to sell a house quickly, which is why we have found a way for homeowners to speed up the process.
We know you have a lot of options for how to sell your house fast, but we believe our service is the most efficient service you’ll find out there.
Below we highlight why it can make sense to choose us over a traditional estate agent.
SELLTO
For you if speed of sale is important.
- SellTo will buy your home QUICK
- When you need a Fast and secure sale
- Quickly exchange and complete
- No mortgages or estate agents
- No legal fees or sales commission payable
- Hassle and stress-free
WHY CHOOSE SELLTO
You may simply be looking for a quick and secure sale in the least amount of time possible. You may also not wish to deal with estate agents, viewings, mortgages falling through and buyers messing them about. We offer both cash purchase and auction solution. Auctions have evolved considerably in recent years and people like you are now getting amazing results. Here at SellTo, we can get your property listed in days and we ensure all properties that we send to auction get the very best exposure. The beauty of the auction service is that once the hammer falls, the buyer is obliged to complete. Failure to do so results in heavy financial penalties (hence why buyers complete the sale quickly.) So if you are looking for a fast cash sale or quick auction sale, contact us today.
ESTATE AGENT
Could be for you if you want to sell slowly.
- Slow Sale: Averages are 120+ days
- Charge 1-3% of the sale price as commission
- Ongoing mortgage payments whilst you wait
- Ongoing council tax payments whilst you wait
- Costs for legal services
- Costs for property refurbishments
WHY CHOOSE ESTATE AGENT
Selling through traditional estate agents is the most common approach but is often the slowest option available. The entire process can take around six months from the moment the property is listed to completion. Of course, this does depend on the location and the condition of your property. Some estate agents may have great track records that can help get your property sold eventually, but the timeline is unlikely to suit you. Additionally, estate agents typically charge a percentage of the final sale price between 1-3% as their commission, which can equate to quite a substantial fee. But don’t forget to factor in the additional costs like solicitors or any refurbishments required to get the property sold. So not only is it a long process but quite costly too.
How our Cash house buying service works
FAST Cash Sale
Sell in 7-28 Days
BEST Prices Paid
No Estate Agents Fees
ZERO Legal Fees
ZERO Stress
Step 1
Get in Touch
Contact our professional house buying team to discuss your property to receive your offer.
Step 2
Receive your Offer
After an independent valuation, we will make you a free, no-obligation cash offer for your house.
Step 3
Completion Date
If you choose to accept our formal cash offer, you decide the date for sale completion that best suits your needs.
Step 4
Get Paid
On your chosen completion date, the house sale is legally completed and the money is transferred to you.
How much money will I get from a cash buyer?
The amount of money you will get from a cash buyer for your house typically depends on several factors. While cash buyers offer speed and convenience, their offers are often lower than what you might get through a traditional sale. Here are the key factors that influence the amount you will receive:
Market Value of the Home:
The current market value of your home is a significant determinant. Cash buyers often offer a percentage of the market value, generally between 70-90%, depending on various factors.
Condition of the Property:
Homes in need of significant repairs or renovations will generally receive lower offers. Cash buyers account for the cost of repairs when determining their offer.
Location:
Properties in desirable locations may receive higher offers compared to those in less desirable areas.
Market Conditions:
The state of the real estate market (buyer’s market vs. seller’s market) can impact offers. In a seller’s market, you might get a better offer due to higher demand.
Urgency:
If you need to sell quickly, you might accept a lower offer for the convenience and speed of the transaction.
Typical Offer Range
Cash buyers typically offer 85% of the home's market value. Here’s a breakdown of what this might look like:
| Estate agent (6-9 months) | SellTo (7-28 days) | |
|---|---|---|
| Original advertised price | £100,000 | N/A |
| Agreed purchase price | £95,000 | £85,000 |
| Estate agent fees | -£2160 (average) | £0.00 |
| Ongoing mortgage payments | -£3000 (6 months average) | £0.00 |
| Solicitors & legal fees | -£700 (average) | £0.00 |
| Renovation, repairs & maintenance | -£1000 (typical) | £0.00 |
| Council tax | -£800 (average) | £0.00 |
| Net price achieved | £84,340 | £85,000 |
Should you sell your UK property when living abroad?
Whether you should sell your UK property while living abroad depends on various personal, financial, and market factors. Here are some key considerations:
Financial Implications
Capital Gains Tax: If you sell a UK property while living abroad, you may be liable for capital gains tax on the profit from the sale. Understanding the tax implications in both the UK and your current country of residence is crucial. Consulting with a tax advisor can help you navigate these complexities and potentially mitigate your tax liability.
Income Potential: If your UK property is generating rental income, selling it means losing this regular income stream. Assess whether the immediate financial gain from selling outweighs the long-term benefits of rental income, especially if the property is in a high-demand area.
Market Conditions
Property Market Trends: The UK property market can fluctuate based on economic conditions, political stability, and local demand. If the market is currently strong, selling now might fetch a higher price. Conversely, if the market is weak, you might consider holding onto the property until conditions improve.
Currency Exchange Rates: Selling property in the UK and converting the proceeds to another currency can be influenced by exchange rate fluctuations. Favorable exchange rates can significantly impact the value you receive from the sale.
Practical Considerations
Management Challenges: Managing a property from abroad can be challenging and stressful. If you find it difficult to handle maintenance, tenant issues, or legal requirements from a distance, selling the property might be a more practical solution.
Future Plans: Consider your long-term plans. If you intend to return to the UK in the future, keeping the property might be beneficial. Alternatively, if you have no plans to return, selling could simplify your life and finances.
Deciding whether to sell your UK property while living abroad involves weighing the financial implications, market conditions, and practical challenges. Consulting with ourselves and financial professionals can provide personalized advice based on your specific situation, helping you make an informed decision that aligns with your long-term goals and current circumstances.