Selling a house for cash is the quickest and easiest way to turn your biggest asset into money in the bank.
Many people assume that selling property via an estate agent on the open market is the only option. Sellers taking this route will incur hefty estate agent and conveyancing fees, not to mention the ongoing costs of maintaining or improving a property while it sits on the market until the right buyer comes along.
Selling a house for cash via a house buying service speeds up the sales process and can represent a shrewd financial decision. In this guide, we will talk you through how it works, the benefits and how to find the best deal.
Why Use a Cash Buying Service?
The best-laid plans often go awry and we will all experience unexpected events and changes in circumstances at some point in our lives. Homes are the biggest asset many of us have, yet getting your hands on the equity in a property can be a difficult and lengthy process — not ideal if you need a large injection of cash, fast.
Perhaps you’re getting a divorce and are keen to move on as quickly as possible? Or maybe you’ve landed a fantastic new job on the other side of the country and you need to sell up and relocate in a hurry?
Whatever their reasons for doing so, sellers who opt to use a cash buying service avoid the extensive red tape, lengthy delays and sky-rocketing costs often associated with selling a house via an estate agent. When you sell your house for cash, there’s no estate agent, solicitors or survey fees to pay. You won’t have to endure the inconvenience of countless viewings nor spend time and money improving the property in a bid to boost its appeal to potential buyers.
House Buyer Bureau is the UK’s favourite house buying service. We buy all types of property, in any condition and location, for cash. We can offer completion in as little as seven days if you’re in a hurry or want to take a little more time to plan your next move. We will agree upon a time scale that suits you.
How Does Selling Your House for Cash Work?
Unless you’re lucky enough to land a cash buyer in the first few days of putting your home on the market, a house buying service is the best way to sell your house for cash.
At House Buyer Bureau, we pride ourselves on offering a friendly, professional and fast service that takes the hassle out of house selling. We understand how stressful moving can be, especially if there is the added pressure of needing to sell quickly. We offer an honest and transparent service that our customers can trust.
All we need to kick things off is a few details about the property you want to sell. We can provide a cash offer in principle based on a 100% cash sale almost immediately. Once a valuation is completed — this can be done remotely using photos and videos of your property — we will make a formal offer (subject to contract and survey). If you have a little more time, our experts will use their skills to get you more for your property via our “managed sale” service.
Next, we will arrange a survey of the property and instruct solicitors. All our clients have access to House Buyer Bureau’s network of expert solicitors at no extra cost. We can then exchange and complete in as little as seven days.
How to Get the Best Deal
Unfortunately, there are a lot of unethical firms in the house buying market. Many will offer what appears to be the “best” deal at first, only to leave you cheated and considerably out of pocket in the long run.
The Competitions and Markets Authority (formerly the Office of Fair Trading), has identified six practices that concern them when it comes to cash buying services. Ethical firms will take pride in finding the best deal for their customers, so a little due diligence when choosing a house buying service is crucial if you want to achieve a fair price for your home.
An unscrupulous company that offers an amazing price will not represent the “best deal” if they sneak in hidden fees after a sale is agreed — or if they fail to honour their commitment to complete within your preferred time frame.
When selling your house for cash, look for a service provider that follows these six areas of best practice:
1) Offers Honest and Transparent Pricing.
There should be no “hidden” fees or last-minute additions.
House Buyer Bureau does not charge any such fees and our valuations are free of charge.
2) Provides a Formal and Final Offer.
Some unethical companies will suddenly drop their offer at the last minute after someone is financially committed to the transaction.
We will never reduce our “formal offer” unless there is an adverse survey or Report on Title.
3) Provides Accurate and Fair Valuations.
A company should not base their offer on an artificially low valuation (and therefore mislead the seller about the level of discount they are getting).
House Buyer Bureau uses current market data to provide a fair and accurate value for a property. We also take into consideration the vendor’s images and video content of their home. We make the valuations and the Condition Report available to you and your solicitor for inspection and we are happy to explain the rationale for our valuation with the seller.
4) Is a Genuine Cash Buyer.
This may seem obvious, but there are a surprising number of “cash buyers” who, in reality, are brokers or lead generation companies seeking to obtain your details to pass on to a third party.
We offer a genuine cash buying service. We have the funds ready to acquire any property in the UK and are happy to share evidence of this with you and your lawyer. You can view a list of over 500 examples of our transactions here.
5) Allows You the Option to Withdraw from the Sale Before Exchange.
Homeowners who sell their property on the open market are only legally obliged to continue with the sale once contracts have been exchanged. A person using a cash buying service should have the same freedom to change their mind before exchange. A company that insists on locking you into an agreement that prevents you from selling to anyone else for a fixed period is not offering the best deal.
We understand that people who need to sell their homes quickly are often in vulnerable and uncertain situations, which can result in the need to withdraw from a sale part-way through the process. House Buyer Bureau will not ask you to sign any agreement and all sellers are entitled to change their minds — without obligations or cost — right up to the exchange of contracts.
6) Completes a Sale When They Say They Will
One of the main draws of house buying services is the ability to complete a cash sale fast. If a company promises to sell your home within a fixed amount of time and fails to do so, it may be worth shopping around. Check out the reviews and testimonials on their site to see if other sellers have complained about broken promises.
House Buyer Bureau offers a genuine cash buying service. We do not need to buy time by locking you into restrictive agreements to secure financing. Our lawyer is happy to confirm that we have bought houses in as little as seven days.
Selling a house for cash is the fastest way to turn your property into money in the bank and it’s the only way to 100% guarantee a sale. You might have to accept a slightly below market value offer but don’t forget to factor in the savings you make by not paying estate agents fees, conveyancing fees or for home improvements to attract buyers.
Finding the right house buying service is crucial if you want to get the best deal. House Buyer Bureau has the funds to buy your property and we have a proven track record of completing a sale in seven days (if that timescale suits you).