Is it Easy to Sell a Timber Frame House?
Selling a house can be complicated at the best of times, but it can sometimes be made even harder when your house is of non-standard construction. Timber frame houses are one such example and can be one of the property types that owners struggle to sell. It’s certainly possible to sell one, you just may need to do a little more to ensure the sale happens.
You can, of course, opt for a fast house sale with a cash house buyer like Gaffsy, but this isn’t always the route a homeowner may wish to take.
In this edition of our blog, we look at what you may need to do to sell your timber frame house.
What is a timber frame house?
Before we dive into the best practices to ensure a smooth sale of a timber frame house, we should perhaps explain what one is.
A timber frame house is a property that has its structure made from timber. In many cases, the wooden frame is constructed elsewhere and then delivered to the area of construction where they are assembled.
As you’ve probably noticed, many homes in the UK are built via the traditional bricks-and-mortar method of construction. This means that houses built with timber frames are classed as those built of a non-standard construction. And it is this classification that can make them hard to sell.
Why is it hard to sell a timber frame house?
A timber frame house, as we mentioned above, is one built from non-standard construction and this can make it difficult to sell.
Before we dive into the potential mortgage problems you may encounter, we’ll look at the problems the structure itself may present you with that could make it harder to sell.
Increased potential of damp
Selling a house with damp is tricky whether your home is of a traditional structure or a non-standard construction. Unfortunately, timber frame homes can be more susceptible due to how easily affected by water wood can be. Damage to the property and the owner’s health can be exacerbated through an influx of damp, and a timber frame house could be a way to make this happen. Potential buyers may be put off by existing dampness, or the very chance that it could become prevalent.
Fire hazard
Wood, as we know, ignites fast, and for those looking to buy a new home, this could be a huge deterrent from making an offer.
Concerns over the structure
Whilst a timber frame house is likely built to last, it will not last as long as a home built from more traditional methods. This could be something a buyer takes into consideration and something mortgage lenders will also be wary of.
Insufficient insulation
The temperature in a timber frame house can fluctuate fast, and as a result, additional insulation can be needed. If the home has not been insulated sufficiently, a potential buyer may hold back from making an offer until it is insulated or may not even make an offer at all.
Difficulty to insure
A timber frame house can also be difficult for a buyer to get insurance on, meaning they may decide not to make an offer or even book a viewing. Timber frame houses may require specialist professionals to do urgent repairs on them, which could cost significantly more than the repairs any other type of house may require. As a result, an insurer may offer higher premiums or not even offer cover for the property.
Can you get a mortgage on a timber frame house?
It is possible to secure a mortgage on a timber frame house but a lender will be more cautious. The reasons we mentioned above, such as fire risk, potential for dampness, and more, all lead to a lender viewing the home with a degree of uncertainty. Factor in that the house may not be as structurally secure, and therefore, not as long-lasting as a house made from bricks and mortar, and you can see why a lender may prefer their money be borrowed elsewhere.
If a higher deposit can be paid over terms that the lender is agreeable to, it may be possible. In many cases, it would seem unlikely that a buyer would be able to secure a mortgage on a timber frame house, causing you to spend even longer trying to sell it.
How can I sell a timber frame house?
Luckily there are a few options available. If you own a timber frame house and have found that the pool of buyers has shrunk to be almost non-existent, you could pursue the other avenues open to you.
Sell to a fast house sale specialist
Companies like Gaffsy exist to make it possible for people to sell an unsellable house. Property that can’t seem to shift on the traditional market either due to its condition, build type, location or structure is sold quickly and easily. A cash offer is made, and should it be accepted, funds can be in the seller’s account in as little as seven days. This “we buy any house” methodology gives those who know a sale will be impossible and those who have struggled to sell in the past an option that can only result in a sold property.
Sell at auction
Another option is to consider a property auction. This could prove to be a lucrative sales strategy, but it could also see nothing happening at all. It could also result in a sale, but once the fees are covered, you may walk away with much less than you had anticipated. Property can sell well via auction, and once the hammer falls, the transaction becomes more or less, legally binding. The buyer then has around 28 days to complete the process, which despite being quick, is sometimes not quick enough for those looking for a rapid sale.
If you own a timber frame home and have found it hard to sell, there is an easy route to sale. Gaffsy operates to make your sales process fast, easy, and free. Your legal fees are covered, and your home is guaranteed to sell. Sounds too good to be true? Contact our team to find out how easy it can be. We start the process with a free, no obligation cash offer on your home. If you accept, we buy it, if you don’t, we both walk away.
