If you need to sell your home in a hurry, a house sale company could be the solution you’re looking for. But how do you pick out the best quick house sale companies from those who will leave you high and dry?
There are many reasons why you might need to sell your property quickly. You might be going through a divorce or need to relocate to take up an exciting new career opportunity.
We all know that selling on the open market in the UK can be a time-consuming, expensive and delay-ridden process. According to The Advisory’s “Time to Sell” study in 2019, the average time to sell a house is 4.2 months. Some homeowners wait years for the right buyer to come along and a quarter of all sales break down before completion. For many people, it’s simply not practical to wait so long to move house.
“House sale” or “house buying” companies offer a guaranteed cash sale, with completion taking place in as little as seven days after a formal offer. You may receive a slightly below market value offer, but this will be offset by considerable savings in other areas. Unlike an open market sale, there are no estate agents or conveyancing fees and there’s no need to make costly home improvements or repairs when selling your home to a house buying company.
In this guide, our team of experts at House Buyer Bureau will explain what you need to look out for when searching for the best quick house sale companies.
What Are Quick House Sale or House Buying Companies?
A surprising number of people are unaware of quick house sale or house buying companies. Many people assume the only way to sell their home is via an estate agent on the open market. This is not the case. If time is of the essence, using a quick house sale company is a much better option.
Quick house sale companies have the funds to buy your home, fast. House Buyer Bureau can offer completion in as little as seven days. We buy your property directly, so there’s no need for estate agents and there are no lengthy waits for buyers to secure the finances they need. There are no fees whatsoever, even if you change your mind and withdraw from the sale before the exchange of contracts. Valuations are also free of charge.
We will buy your property at a slightly discounted rate in exchange for a quick, hassle-free cash sale. If you’re in a rush to sell, speed may be more important to you than achieving the highest sale price possible. And remember — when using a quick house sale company such as House Buyer Bureau — you will save thousands of pounds by not paying estate agents or conveyancing fees, making the difference between a traditional sale and a cash buying sale surprisingly small in terms of how much you walk away with.
How to Choose the Best Quick House Sale Company
Unfortunately, not every company that advertises itself as a quick house sale service is ethical and trustworthy.
The Competition and Markets Authority (formerly the Office of Fair Trading) has identified six areas of concern when it comes to the practices of quick house sale companies. If you’re interested in a quick cash sale, be sure to thoroughly research any company you consider using. The following are red flags. If a company is engaging in any of these practices, you’d be wise to sidestep them and find a more reputable and reliable service provider.
- Unclear fee structures.
Some companies will add an unexpected fee following an encouraging initial valuation. The company may refuse to proceed with the sale unless the customer agrees to pay.
House Buyer Bureau does not charge any fees. Even if you pull out of the sale before the exchange of contracts, there will be no costs and your valuation will be free of charge
- Reducing the price offered at the last minute, after someone is financially committed to the transaction.
Many people who need a quick cash sale are in a vulnerable position and unscrupulous companies know they will be forced to accept a lower price for their property, enabling the company to make more money from the transaction.
Our formal offer is subject to contract and an RICS survey. We will never reduce a formal offer unless there is an adverse survey or Report on Title.
- Making misleading claims about the value of the property and the level of discount applied to the sale.
Some companies will provide an artificially low valuation, making the discount they are offering appear much higher than it really is. The customer believes they are getting a great deal when, in fact, the company is taking a much larger discount than is fair.
We value your house based on information from the seller, including images and video of the property, alongside current market data. We will gladly share the valuation and the condition report with you and your lawyer. We understand what a big commitment selling a home is and we pride ourselves on offering an honest, fair and transparent service.
- Pretending to be a cash buyer.
Some “quick sale companies” are really brokers or lead generation companies trying to obtain your details to pass on to a third party. Ask your lawyer to obtain written or published clarification of the company’s status.
House Buyer Bureau is a genuine cash buyer with the funds to buy your property. Take a look at recent examples of our transactions on our “What We Pay” page. We are happy to provide evidence of funds to your lawyer.
- Encouraging customers to enter into agreements that prevent them from selling to other buyers.
Any company that insists on locking you into such a contract is best avoided. Check the small print of any documents before signing. Some unethical quick sale companies will include severe penalties for anyone who breaches this type of contract after signing it.
We will not ask you to sign any agreements. As with a traditional house sale, our customers are free to withdraw at any point up to the exchange of contracts.
- Promising a quick sale then drawing out the process for months.
If a company is not a genuine cash buyer, they will need to secure finance to purchase your property or to engage the services of a third party. Both of which will take time and delay the sale of your home.
We are a genuine cash buyer with the funds to buy your home directly, in as little as seven days after a formal offer is made. Our lawyer can confirm we have done this many times before and can do so again without seeking bank finance or mortgages.
The best quick house sale companies will not use any of the unethical practices listed above. You should also look for positive customer testimonials, transparency about prior transactions and the level of expertise the company can offer.
When time is of the essence you will need ready access to support, too. Our lines are open 24 hours a day, seven days a week. We also have an online contact form and chat facility for people who prefer to communicate via text.
Are you looking for the best quick house sale company for a swift and hassle-free service? Contact House Buyer Bureau today.
We can offer you a free, no-obligation cash offer for your property and start the moving process in as little as seven days.