In this guide we look at how to choose your fast house buyer. We dive into what to look for and what to avoid when selling your home to a cash buying company.
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Our guide to cash home buyers
What is a cash home buying company?
Are you in a situation where you need to sell your house quickly? Cash house buyers can help you sell your property fast, without the hassle of dealing with real estate agents or waiting for months to find a buyer. In this article, we’ll discuss everything you need to know about cash house buyers and how you can sell your property for cash.
Cash house buyers are property investors who buy properties for cash, with the goal of reselling them or holding them as rental properties. They typically buy properties within a very short timeframe and in a sold as seen condition, without the need for repairs or renovations. As a result, you can avoid the time and expense of fixing up your property before selling it.
What are the advantages of selling your house to cash house buyers?
When you approach a quick sale firm, they’ll typically ask you questions about the property, its condition, and location. They’ll then provide you with an initial offer within 24 hours of your call. Quick sale firms typically buy any property, regardless of location, size, age, or condition. This is especially handy if your property is in poor condition as this could be a detriment on the open market.
Good house sale specialists handle everything, from assigning a solicitor to arranging surveys. Most even cover your fees, so you have nothing additional to pay.
Selling your house to cash house buyers offers several benefits, including:
- Speedy Sales Process: Cash house buyers can close a sale in as little as seven days, compared to traditional real estate sales who tie you in for 20 weeks.
- No Repairs or Renovations: Cash house buyers buy properties sold as seen, which means you don’t have to spend money on repairs or renovations to get your property ready for sale.
- No Commissions or Fees: Cash house buyers typically don’t charge commissions or fees, so you can keep more money from the sale of your property.
- Cash Offers: Cash house buyers pay in cash, which means you can avoid the complications that come with financing, such as delays in the loan process, appraisal issues, and loan contingencies.
How to Choose the Right Cash House Buyer
Not all cash house buyers are created equal. Here are some tips for choosing the right cash house buyer:
- Research: Do your due diligence and research potential cash house buyers. Are they registered on companies house? Do they have a registered company address and of so, can you visit them at the registered office location?
- Proof of funds: Make sure you ask for proof of funds from your cash house buyer. They need to be able to prove this with their offer.
- The offering: Reputable cash buying companies will buy a house for 80-85% of its market value. (If they advertise or offer 100% market value, its a sure sign the company isn’t genuine. If they do agree to buy your house for 100% they’d be making no money, so it’s likely the price would drop drastically at the last minute.)
- Transparency: Look for a cash house buyer who is transparent about their process, fees, and timelines. A trusted cash home buyer will cover all legal fees and do not charge you an initial survey fee.
- Experience: They should have a deep understanding of the current market situation and will be able to price your property. Take into account that offers are always subject to a professional survey.
- Professionalism: Look for a cash house buyer who is professional and treats you with respect. They should be responsive to your questions and concerns and provide you with a clear and concise contract without pressuring you.
- Associations: The National Association of Property Buyers run a redress scheme where it’s members follow a code of practice. The scheme is voluntary and it allows you to access TPO’s free, impartial and independent dispute resolution service if you do have a complaint. You can find out more about the scheme and see which companies are members here: https://napb.co.uk/
When you approach a quick sale firm, they’ll typically ask you questions about the property, its condition, and location. They’ll then provide you with an initial offer within 24 hours of your call.
As 30-day house sale specialists, most quick sale firms will offer a turnaround in just 30 days. Some can even buy your home within 14 days and as little as seven days. You have complete control over the completion date, too, so once they’re ready to go, they’ll be happy to wait if you need a little more time.
Quick sale firms typically buy any property, regardless of location, size, age, or condition. This is especially handy if your property is in poor condition as this could be a detriment on the open market.
They should be able to handle everything, from assigning a solicitor to arranging surveys and EPCs. Most even cover your fees, so you have nothing additional to pay.
The only trade-off is that you usually only receive around 80-85% of the property’s market value. Still, this is the best way to sell your house fast.
Having traded for many years, at Home House Buyers, we consider ourselves a reputable house buyer
Home House Buyers provide a speedy, three-step process that couldn’t be easier to navigate. You start by giving us a call to discuss the details of your property. Then, we provide you with an initial offer within 24 hours.
Once you’ve accepted our final offer, We will assign a solicitor who’ll begin handling the sale of your property, including arranging the necessary survey and EPC.
They usually aim to have all the logistics handled within 7-14 days, though they can delay completion if you need more time. Once you’re ready to move, and keys are exchanged, we will instruct the solicitor to transfer you the funds.
