For many house sellers, finding a cash buyer is the ultimate dream. Imagine, no property chains and no risk of the buyer’s financing falling through — sounds pretty great, right?
Yet for most homeowners selling on the open market, cash buyers are hard to find. That’s where cash buying services, such as House Buyer Bureau, come in. We have the funds to purchase any property in the UK — regardless of condition or location. Once a firm offer is made, the funds can be in the seller’s account in as little as seven days.
Despite the obvious advantages of selling for cash, many people are unaware of house buying services or lack a good understanding of what they can offer. Our team of property experts have compiled our client’s most frequently asked questions when selling a home for cash and provided answers that will help you to decide if this service is right for you.
Below is a video that explains how our house buying service works.
Frequently Asked Questions
How Does a House Buying Service Work?
A house buying service offers a much quicker route to selling a property than putting it on the open market and waiting for the right buyer to come along. The company purchases properties for a price slightly below their market value and then sells them on.
The process is straightforward and fast. You will provide a few details about the property you want to sell. Based on this information, a cash offer in principle will be made. Once the house buying service has had your property valued, they will issue a formal offer, subject to contract and survey. As with a traditional property sale, lawyers are then instructed and a survey conducted. However, at House Buyer Bureau, we offer sellers access to a panel of experienced lawyers who understand the cash sale market and can keep things moving quickly. What’s more, there is no charge for using one of our recommended lawyers — compare this to the legal fees involved in selling on the open market and you’ll be surprised how much you can save! We will also arrange an RICS survey of the property.
The final step is exchange and completion, which we can arrange in a timescale to suit you — even as little as seven days.
What Are the Benefits of Selling for Cash?
Selling a house on the open market is often time-consuming and stressful. It can take months to find a buyer and many more months for a sale to complete. Not to mention the high number of house sales that fall through in the UK.
Selling to a cash buying service gives the homeowner a guaranteed sale that can be completed in as little as seven days after a firm offer is made. For anyone who needs to move quickly — to relocate for a new job or because of a relationship breakdown — the speed and certainty of this type of sale are highly attractive.
Furthermore, there are considerable cost savings to be made. Granted, the cash offer made will be less than selling by the traditional route, but this difference in price is offset by the lack of legal and estate agency fees. Additionally, the homeowner will not have to make any costly home improvements in a bid to sell the property, nor will they have to continue making mortgage repayments, covering bills and maintaining the property until a buyer is found.
What Type of Houses Will You Buy?
House Buyer Bureau buys all types of property in any condition and location.
Many people struggle to sell their houses on the open market for a variety of reasons — if a property is in poor condition, at risk of repossession or located in an unpopular location, finding a buyer can be a challenge.
We have helped hundreds of customers in just such situations to sell their home and move on. Take a look at what our customers say about us.
How Much Will I Be Paid?
House buying services differ significantly on the rates of pay on offer. House Buyer Bureau will give you the best cash offer on the market. For a quick sale, we typically pay 80% of the market value. We can offer up to 90% of the market value for a 120-day guaranteed sale — House Buyer Bureau is the only company to offer this.
And don’t forget to factor in the money you will save on estate agent fees, lawyers, surveys, home improvements, mortgage repayments — need we go on?
How Quickly Can I Get an Offer?
Pop your postcode in our handy onsite form, add your contact information and property details and we’ll send you a cash offer by email or give you a call (whichever you prefer). We can typically provide an indicative offer within 24 hours.
How Long Will It Take to Receive the Funds?
If you’re happy with the initial cash offer, we will arrange a valuation and survey of the property to suit you. Once these are completed, we can exchange contracts and complete the sale at a time scale to suit you — this could be in as little as seven days.
Will You Buy My House If I Am in Mortgage Arrears?
Selling your house for cash is one of the fastest ways to avoid or stop repossession proceedings. Your mortgage lender is required by the Financial Conduct Authority (FCA) to allow you time to sell the property, should you choose to do so.
We can turnaround the purchase of your home quickly, allowing you to avoid repossession, settle any outstanding debts and make a fresh start in a new home.
How Do I Choose Which House Buying Service to Use?
Ensure the service provider is ethical and trustworthy. Do they follow guidance on best practice and avoid unethical practices? Are there customer testimonials available on the company website? How does the service rate on independent review sites?
The Office Of Fair Trading’s (OFT) review of the quick house sale market identified six practices that any reputable and ethical company should not engage in. These include:
- Providing unclear fee structures that include “hidden” costs or add extra costs as the process progresses
- Reduce the price offered at the last minute
- Make misleading claims about the value of the property or the level of discount to be applied to the sale
- Falsely claim to be a cash buyer
- Induce consumers to enter into agreements that prevent them from selling to other buyers
- Taking longer to complete the sale than promised
House Buyer Bureau’s business practices are externally reviewed by Regulatory Risk auditors. We do not engage in any of the practices highlighted by the OFT.
At House Buyer Bureau, we pride ourselves on delivering consistently high standards of customer service. Our friendly team of property experts would be happy to answer any further questions you may have about selling your home for cash.