Complete Clarity Solicitors


How soon can you sell a house after buying it? 


If you’re a homeowner considering selling the property you recently purchased, a common question is “How soon can I sell my house after buying it?” This may arise due to changing life circumstances requiring you to sell a property quickly. At Clarity Simplicity, we understand the complexities of capital gains tax and other factors involved when buying and selling property. Here we’ll explore key factors determining how fast you can sell after buying, so you have clarity on the process.

Why Time Restrictions Exist on Reselling a House

In the UK there are no laws stating you must own a property for a minimum period before selling. However, restrictions often apply in practice due to mortgage lender policies. Most lenders will not finance a purchase if the seller bought the home within the past 6 months. This aims to prevent predatory quick resales and money laundering. As a result, finding a new buyer and selling a house fast can be difficult unless the buyer may have sufficient cash.

Getting a Mortgage When Reselling Within 6 Months

The 6-month timeline generally starts from when sale completion is registered with the Land Registry – not the date of the sale contract. If you need to sell within 6 months, some limited concessions may help you secure a mortgage buyer:

  • If selling back to the original developer
  • As part of probate after inheriting the property
  • Providing extensive details to justify the quick resale

However, selling within 6 months will still drastically limit potential buyers able to get financing. Most will need to pay cash which is rare. Expect this to hamper interest and your ability to sell fast.

Factors That May Motivate Selling A House After Buying It

Why might a homeowner want or need to sell their recently purchased property fast? Some common reasons include:

  • A change in personal circumstances like divorce or job relocation
  • Realizing renovations and repairs will cost more than expected
  • Discovering problems with the property after moving in
  • An urgent need for cash or a change in financial situation
  • Taking advantage of significant appreciation to net a profit

Tips to sell my house 

If you must sell fast despite the 6-month lender limit, here are tips that can help:

  • Consider renting out the home until you pass the 6-month mark to access more buyers later
  • List at an attractive price below market value to appeal to cash buyers
  • Offer incentives like covering closing costs for cash offers
  • Market aggressively through multiple platforms to reach cash buyers
  • Leverage networks and social media to find potential buyers not requiring financing
  • Consult your estate agent for guidance on pricing and marketing appropriately given the circumstances
  • Prepare for lower offers since many buyers will be unable to secure lending
  • Understand tax implications if selling for a profit within a short timeframe

Can I Sell to a Cash Offer Immediately?

If you can find a buyer able to pay the full purchase price in cash, there are no barriers to completing a quick resale transaction. Cash removes the need for the buyer to acquire financing. However, all-cash buyers can be hard to find and will negotiate more aggressively on price since they know you have fewer options.

How soon can you sell: Contact us to sell your house soon after buying

It’s recommended to speak with your Clarity Simplicity mortgage advisor before attempting to sell soon after purchase. We can provide tailored guidance for your unique situation. With the right strategy, selling faster than 6 months may be possible, albeit often at a lower price. Contact us today to discuss your options.