08 Jun Quick Property Buyers
Quick Property Buyers
The quick property buying market can be a daunting place for most house sellers, even though it isn’t a new industry but for many it’s seen as an industry with mixed reviews, so should you sell your house to a quick house buyer?
Buying and selling houses for cash has been going for years but before the internet there were flyers yours to be posted through your door from your local millionaire offering to buy your house below its market value. Things have moved on a bit from those methods with many Quick Property Buyers up and down the UK offering to buy your house fast and for cash, but can they call actually do it? The answer is more than likely no, as many companies don’t have the physical cash to purchase your home so they will act as what is known in the trade as ‘Reseller’ to try and sell your house. This in layman’s terms means they are trying to sell your property on one of their investors and they will make a profit introducing the deal. So is this a good idea? This depends on how good the companies investors are and what methods of finance they will be using to purchase your house. Many will be using mortgages which, means that they may not be able to raise the full amount you have been offered, leaving them to either have to top their offer or offer you a reduced amount. This leaves many people frustrated as they don’t know if their property is actually sold or even when it’s going to complete. How do you avoid this? What we here at Home House Buyers advise you to do is ask the buyer to show you proof of funds as this will separate those who actually have the finance and those who are just looking to resell your property.
So besides proof of funds are there any other things that you should be looking out for when using a quick house buyer? We would also advise you to do your research on the companies before you sign any form of contract. Like most industries, there are the good, the bad and the ugly and you need to make sure you pick the right one. Look for reviews on the companies and not just ones that they have posted on their site but ones on external forums also. Many of our customers ask us how the separate the wheat from the chaff and our answer is always to ask if they can speak to some of the companies previous customers. This is a fantastic way to see exactly how they treat their customers.
So besides the negatives what are the positives to using quick house buyers? Well, if they actually are cash house buyers then they can normally complete within about 2-4 weeks and they will normally offer to pay all of the fees involved in the process. If you do pick a genuine cash house buyer then you should be able to pick your own completion date so that you can tailor the process fit in with what you need. You should also be assigned your own property specialist who will walk you through the full process from start to finish.
So what fees are paid for by the quick house buyers? All should be paid and if you use Home House Buyers then they will be. Solicitors fees on both sides should be paid, the cost of the Energy Performance Certificate and also the cost of the survey should be funding by the buyer. Don’t forget that once agree to sell to a quick property buyer then you will avoid paying several thousands of pounds to an estate agent if you use quick property buyers.