How long does it take to sell a house in Guyana?
There is no denying that selling a house is often a frustratingly lengthy process. If you are keen to sell your house, you will understandably want to know how long it takes for a house sale to go through.
It is important to keep in mind that the length of time it takes to sell a house depends on many different factors, not least of which being how hot or cold the property market might be in the area where you are selling your house.
In this article we detail everything you need to know about how long it takes to sell a house in Guyana.
What is the Average Time to Sell a House in Guyana?
According to data gathered from Guyana Real Estate Services, It now takes around 60 days from the date of listing a property to agreeing on a sale. Houses located in Georgetown, the East Bank of Demerara and the East Coast of Demerara, generally sell faster than houses located elsewhere.
Once an offer has been accepted, paperwork and legal processes will need to be worked through before the house sale is completed. The average time it takes to complete a house sale is between 3 and 4 months.
The table below details the average time taken for each stage of the selling process:
| The process | The average time taken |
| From a new home listing to the offer being accepted | 10-12 weeks |
| The conveyancing process | 12 weeks |
| From exchange of contracts to completion | 12 to 16 weeks |
| Total time from property listing to completion of the sale | 4-6 months |
How Long Does It Take to Sell a House from Offer to Completion?
The average time it takes to sell a house from an offer being accepted to completion of the sale is around 12 weeks. However, the length of time is affected by a number of elements, principally the efficiency of the buyer’s and seller’s solicitors, how proactive the estate agent is in chasing the sale and the preparedness of the buyer to begin the buying process.
What Factors Might Affect How Long It Takes?
It is important to keep in mind that the timeframe above is based on averages. Ultimately, no two-house sales are the same, and many different factors affect the length of time it takes to sell a house.
One of the most important factors is how hot or cold the market is in the area where you are selling your house. This will have a big impact on how long it takes to sell your house.
Also, it goes without saying that a property might sit on the market for a long time if it is offered over price. Overpriced properties attract less interest and fewer visitors, as many people will immediately disregard a property which is so far out of their budget.
The following factors also impact on how long it takes for a house sale to go through:
- The area where the property is located
- How efficient the buyer’s and seller’s solicitors are
- The size of the property
- The property’s condition
- The price of the property
- The condition of neighbouring properties
- The number of similar properties in the area
- The preparedness of the buyer to begin the buying process
- Whether the buyer requires a mortgage
- Whether the buyer is also selling a house
- The length of the chain. The longer the chain in the house sale, the more likely it is for problems to arise and, therefore, delays
How Quickly Can You Sell a House in Guyana?
As we have discussed, the length of time it takes to sell a house can vary considerably. Still, there are certain things which you can do which may speed up the sale. Following the points below can certainly help you house to sell quickly.
- Consider Your Asking Price
One of the most effective things you can do to sell your house quickly is to take the time to consider your asking price and how low you would be willing to go. With a reasonable asking price, you will attract more viewers which will lead to more offers. It is always a good practice to obtain a valuation.
Research the recent sale prices of similar properties in the area to come to an understanding of a realistic sale price. Also, see which properties have been on the market for a long time to gauge prices which might be unrealistic
- Prepare Your Property in Its Best Light
It is important to present your property in its best possible light to attract buyers and encourage offers. In fact, one of the most influential factors when selling a home in Guyana is the property’s condition. Get good photographs taken of your house as most people will initially view your house online.
Homes which are clean and in good condition generally sell much quicker than those which require work. Buyers want to visualise themselves living in the house, which is difficult to do if the property is cluttered and poorly maintained. Ensure that the property is clean, anything that is broken has been fixed and that the property is free of clutter.
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- Market Your House Effectively
Considering who might be interested in buying your house can help you to market the property more effectively. Is your property a good option for young families or perhaps young professionals? You can highlight the local amenities and features which would interest the people who would be interested in your property.
Again, don’t underestimate the value of high-quality photographs in attracting more interest in your property. You may want to consider hiring a professional photographer to take the photos.
It is also prudent to consider current market conditions and when the best time to sell a house might be. If the market is particularly slow, you might want to consider waiting until the market improves before putting your house up for sale. Lots of new roads are being built in Guyana so be sure to think about how a new road could significantly improve the value of your property.
- Choose Your Estate Agent Wisely
If you want to sell your house through an estate agent, it is important to choose an estate agent which is proactive and will do what is necessary to secure the house sale, from offer to completion.
Guyana Real Estate Services is a leading real estate portal where you can find agents who can assist you, these agents are well known for professionalism and outstanding customer service. With many years of experience working in the Guyana housing market, they are well placed to help you secure the sale of your property.
For more information or to start selling your house, please contact us today or email admin@guyanarealestateservices.com
