Are quick cash sale companies safe to use and who would you recommend?
Asked on Oct 12 2010,
Selling in Liverpool |
Companies who buy your house for cash quickly will not give you market value for your house. They will offer around 25% less, if that is acceptable for you then there are many. But I wouldn't advise it unless you are absolutely desperate to sell. If you opt for selling with one of these companies, make sure they are regulated.
Web reference: http://www.theadvisory.co.uk/sell-my-house-quickly.php
Answered on Oct 12 2010,
There is very little need to use a quick cash sale company as they will normally be 30 - 40% off open market value, if you need to sell quickly price think auctions or price it slightly under market value and find a buyer who can exchange in 28 days. If it is a case you want to rent it back, approach an estate agent with a lettings division, as if a landlord a can pick up a bargain with a ready made tenant it will also happen quickly.
Answered on Oct 12 2010,
I agree with the other two answers, they exist and as long as your understand their terms they will buy your house.
Generally they pay around 70% of market value (it depends on which area of the country you are in) and then simply re-sell the house at full market value and the difference becomes their profit. They will exchange quickly however.
Auctions are often a better method to consider as this serves to set a minimum price -probably higher than such a company but doesn't inhibit the maximum. The sale is exchanged on the day and done in 4 weeks, a similar timescale. Or ask a local agent for a ' 4 week sale' price.
I agree with the first answer if you are going to use one do make sure they are regulated.
Answered on Oct 15 2010,
Quick sale companies are safe to use, but make sure they are members of the NAPB (The National Association Of Property Buyers) and/or TPO (The Property Ombudsman).
These organisations are here to promote good practice within the industry, and they have good track records!
I made a little guide a while ago explaining how the whole process works (for the new and curious).
I hope that gives a little insight into how they are run, and how they produce an offer for your property.
I'll pop the PDF link below so you have a read.
These are also questions that you should be asking when selling your home:
- Do you buy property yourselves or are you buying on behalf of others?
- Is it a cash purchase or are you raising a mortgage against my property?
- Are there any fee's involved?
- Do you carry professional indemnity insurance?
- Do you have a complaints procedure?
You should ask yourself these questions after talking to a few quick sale companies, such as:
- Are they prompt and courteous when they get back to you?
- Do they explain everything thoroughly and answer your queries clearly?
- Do they confirm their proposal in writing?
- Do you feel that this is a company you would want to do business with?
Hope this helps you or anyone else looking to use a quick sale company.
Web reference: https://housebuyfast.co.uk/free-quick-sale-guide/
Answered on Sep 30 2014,
I buy property from people who want a fast cash sale or want to sell property quickly. I mainly buy in Liverpool and Manchester area and usually give about the same as what it would go for at auction. Which is about 85 to 90% of it's value. I always ask people to get their own valuation though so they don't think I am offering too low. It's about being fair, especially if it's a family who need to sell fast.
Web reference: http://Sell my house fast cash buyer
Answered on Jan 15 2016,
My sister and I jointly owned a house in Aintree, that we purchased as a rental back in 2001. We chose to use a quick cash company and phoned about 6 in total. Zoopla said my house was worth £122,000 and the offers from the quick cash sale companies ranged from £80,000 to £100,000.
We went with a firm called Home House Buyers as they were the only one that was willing to come and see the property. They offered £100,000 and said they would pay our fees and complete within three weeks.
It completed a few days over three weeks they promised but apart from that we were happy.
Answered on Nov 29 2016,
Quick cash sale companies can be a great solution to selling your home, but you need to make sure you avoid scammers and vet the firm you decide to go with.
I have referenced a guide we put together to help avoid quick house sale scams, but below are the four main things to check:
1. As already mentioned in this thread, make sure that the company you are dealing with is a member of the National Association of Property Buyers (NAPB), and / or The Property Ombudsmen.
2. Make sure the firm has access to real cash funds. If they are relying on a third party investor or worse, a quick remortgage, then I would look elsewhere.
3. Under no circumstances sign any agreement which locks you into dealing with a firm - these agreements are often called Lock-out agreements and bind you into an exclusivity agreement with the investor.
4. Make sure when you receive the final offer from the cash buyer that it is given in writing and no subject to change.
If you follow these four rules and make sure to read our guide you should get a good quick house sale result!
Web reference: https://www.acceleratehomes.co.uk/blog/we-buy-any-house-s...
Answered on Mar 11 2017,
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