The housing market is ever changing and with sales taking a slump due to Brexit many are turning different methods when trying to find the best house buyers.
Home House Buyers
Why are Estate Agents Losing Sales to Property Buying Companies
When you’re selling your property through the traditional method of using an estate agent you can come across a few hurdles that may stop you from achieving a quick house sale.
This is a common tactic used by estate agents when they are trying to win the instruction to sell your property. They will value your property slightly (or in some cases excessively) higher than its actual value with the intention of making you think if you let another agent sell it then you could be losing thousands of pounds.
So what’s the harm in trying to sell your property at a higher price? If you have time on your hands then it may be worth a shot. However, if your property doesn’t sell and more often than not it won’t, then you will have to reduce the price which may make you look desperate for a quick house sale or even worse that there is a problem with your property as it hasn’t sold.
An estate agent is never going to turn down business. If the market is bad they will still convince you that they will be able to sell your property fast. As they aren’t ‘house buyers’ themselves that can’t actually guarantee you a sale.
So when the offers don’t come in they will more than likely ask you to reduce the price of the property. This will be a reoccurring pattern until the house is priced so cheaply that it will sell itself.
Buyers not getting finance
With lending becoming increasingly more stringent we are seeing more and more sales falling through. Its a rule of thumb that houses (if priced right) should look to receive an offer within the first three months of marketing.
From this point on, its down for the agents to vet your buyer and also progress the sale. At any point, the buyer can pull out or their finance can fall through which will put you back at square one.
Chains falling through
If your house has been on the market for some time then you may be inclined to accept an offer from someone who is in a chain. It’s not uncommon that chains can complete and you can achieve a quick house sale. However, it’s more than likely that the house sale will be riddled with problems as each person in the chain will stumble across their own problems whilst trying to sell their house.
House Buyers can offer you a guaranteed sale which will help you to avoid all of these problems by selling the house directly to a cash buying company and cutting out the middleman.
Why should you consider using a house buyer
Using a House Buyer rather than going through a high street estate agent comes with its advantages.
Guaranteed sale – Unlike selling through a local agent and waiting for a buyer, using a quick house sale company will give you the peace of mind that your house is sold.
All fees will be covered – When you don’t sell your home on the high street and you chose to use a quick house buyer more often than not will offer to cover all of your fees throughout the process saving you an average of £3000-£5000.
Fixed date – When selling your house on the open market you will be looking to achieve a house sale in 3 to 12 months. When you use a house buyer they will normally offer you a sale within 28 days.
Which house buyer should you choose
When you type ‘Sell House Fast‘ into google you will see a large number of companies offering the same service, so which should you choose? Below are our tips for finding the best cash house buyer for you.
Are they paying cash – First port of call is to check that the company the will be buying your house for cash. Ask them to show proof of funds (this will normally take them 48 hours to obtain).
Are they paying all of your fees – Most house buying companies should offer to cover all of the fees in exchange for a discounted price on your property. They should pay solicitors fees, survey fees and also cover the cost of the energy performance certificate.
Don’t pay a survey fee – Some house buyers will ask you for a survey fee in order to give you a price for a quick house sale. This can range from £200 up to £500 and it should be something that you should look to avoid doing. It has been reported that these house buyers make their money solely on these fees, so avoid like the plague, it shouldn’t cost you to get a sell house fast price
Don’t get tied into a long contract – Some house buyers will try and tie you into a 20-week contract. This is something you should avoid at all costs. Aim to find a cash house buyer that will put you into a contract that is no longer than one month.
Look for reviews – Do your research on the companies. Companies can be a member of The Property Ombudsman but still have terrible reviews. Look at independent review sites and also read forums on how customers have been treated when they have bought their houses from them.
Whatever your situation here at Home House Buyers we will have a solution to your problems so just call our freephone number 08006121366or alternatively you can Email Us
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What prices should you expect when you use a House Buyer
Estate agents market price – £100000
Offers tend to come in 7% less than market value – £7000
Less estate agent fees and solicitors cost – £4000
Less cost of 6 months mortgage payments and bills – £6600
Total amount after the costs – £82400
House Buyers cash offer – 20% less of Market value – £80000
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