How do we buy any house companies work

What is a House Buying Company?

House buying companies, often referred to as ‘We Buy Any House’ organisations, have gained popularity in the UK housing market due to their ability to provide a swift and convenient way to sell a home. This type of company specialises in purchasing homes directly from homeowners, eliminating the need for an estate agent and the lengthy process that is associated with traditional house sales. As they streamline the process, they often also remove the uncertainties many homeowners go through when trying to sell their houses and purchase new ones.

What is the Process of Selling to a House Buying Company?

Although some quick house buying companies will operate slightly differently, there is a general process that most follow.

Initial Inquiry

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The process typically begins when a homeowner contacts a house buying company, either through their website, phone, or in person. Some companies even offer online forms on their website for initial inquiries.

Property Assessment and Valuation

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After the initial inquiry, the company will conduct a preliminary assessment of the property. This may involve asking the homeowner some questions about the property’s condition, location, and any specific features. This allows the company to arrange for a valuation of the property by an in-house valuation expert or an independent surveyor.

Property Visit

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In many cases, a representative from the house buying company will schedule a visit to the property, either in person or electronically through a video call. During this, they will assess the property, taking note of its condition and any necessary repairs.

Cash Offer

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Based on their assessment, the company will make a cash offer to the homeowner. This offer is typically lower than the market value of the property, reflecting the convenience and speed of the sale.

Acceptance or Negotiation

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If the homeowner accepts the offer, they can move forward with the sale. Homeowners can also choose to try and negotiate a higher offer but this option is often limited due to the nature of the sale. House buying companies are known for their quick turnaround times, with some transactions completed in as little as a week.

Legal Process

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The company will handle the legal aspects of the sale, including the necessary paperwork and contracts. This eliminates the need for the homeowner to hire a solicitor, saving both time and money.

Completion

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Once all legal matters are settled, the sale is completed, and the homeowner receives the agreed-upon cash sum.

Competing in the UK Market

As the demand for house buying companies in the UK continues to grow, it’s essential for these businesses to stand out in a competitive market. This can be achieved through transparent pricing, visible costs, excellent customer service, and a commitment to fair dealings.

Transparent Pricing

To build trust with homeowners, companies that buy houses should be transparent about their pricing. While it’s common for these companies to offer below-market value prices as they wish to sell for a profit, homeowners should have a clear understanding of how the offer is calculated. Factors such as property condition, location, and market trends may influence the offer.

Visible costs

There are a few costs that some house buying companies will charge to homeowners to proceed with the sale such as general sale fees and charges for property valuations. It’s crucial for quick sale companies to clearly advertise these costs and for homeowners to fully understand the fee structure before proceeding with the sale.

Excellent Customer Service

Building a positive reputation is crucial in this industry. Excellent customer service, including prompt communication, respectful interactions and a willingness to address homeowner concerns, can set a company apart from its competitors.

Fair Dealings

House buying companies should always aim for fair and ethical dealings. This includes being honest about the advantages and disadvantages of selling to their company compared to traditional methods, and not pressuring homeowners into making hasty decisions.

Educational Resources

Providing educational resources to homeowners can also be a valuable strategy. House buying companies can create informative content, such as blogs, guides and videos, to help homeowners understand the process and make informed choices.

How does House Buyer Bureau work?

Initial contact
For us, it all starts with you filling out our short online form. Then, one of our friendly experts will be in touch to find out a little more about your property and to discuss whether a quick house sale is the right choice for you. We will make an initial free no-obligation offer based on the info you’ve provided. At no point will we try and hard sell to you, we want you to feel comfortable throughout the whole process. And, if you like our offer, we’ll arrange a free valuation of your property.

Free property valuation
We do all our valuation work remotely so as not to interrupt your life more than necessary. We use lots of property market data and speak to local estate agents to build a picture of your property, your local area, what we think it will sell for, and how long it will take to sell in the current market.

There are many things we consider when valuing your property including its condition, recently sold similar properties and how much equivalent properties are on the market for. We want to pay you as much as we can so that you’ll be happy and comfortable selling to us.

Formal offer
Once we’ve valued your property we make you a formal offer. There are no fees or costs for you to pay (if you use our recommended solicitors). As property prices change all the time, your offer will be valid for a limited time only.

The legal side of the house sale
If you choose to accept our formal offer, we will take care of the rest. We can recommend a solicitor at no cost to you and our house buying experts will make sure that your house sale progresses in a timescale that suits you. No matter if that means it’ll take 7 or 70 days, you’re in control.

Completion day
We will work with you to find convenient dates for the exchange of contracts and sale completion. For additional ease, we’ll transfer the funds for your property to your solicitor, who will pay off any outstanding mortgage balance and then pay the remaining cash into your bank account. Once you’ve handed over your keys, the sale is complete!

How does House Buyer Bureau differ from competitors?

While we work in a similar way to other quick house buying companies, we do pride ourselves in offering a few distinct differences.

We won’t try to hard sell you and there is no obligation to accept our offer; during this process, you are in control and we want you to make the best decision for your circumstances.
We do not conduct viewing, either in-person or online. We believe that selling your home can be a difficult time for any number of reasons and therefore house viewing is an unnecessary inconvenience.
We are consistently rated ‘Excellent’ on Trustpilot and are proud to share what our customers are saying about their selling experiences. After all, why should you take our word for why you should choose us?

We are a founding member of the National Association of Property Buyers, a group of professionals dedicated to providing the best standards in the property buying sector. We also hold membership in the Property Ombudsman, a free, impartial service that provides dispute resolution services for consumers and property agents.

Chris

Chris has worked in property all his career, first as a successful estate agent before spotting a gap in the market for buying property directly from people looking for a simple, quick sale.

He has a passion for property and as an experienced valuer, has looked at well over 50,000 properties so far at HBB. He has extensive experience in property buying and regularly comments in the press on property matters, trends and promotes ways to simplify and speed up the selling process.

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