It’s a sad reality that, in our line of work, we often buy houses from customers who have recently lost a loved one, are struggling financially, have experienced an upheaval in their lives or can’t sell on the open market. It’s rewarding to help these people sell their houses fast — we take care of the entire process so they don’t have to worry. But there are unethical firms out there taking advantage of sellers, especially those in a vulnerable position.
As one of the best quick house sale companies on the market, House Buyer Bureau does not engage in any of the practices identified in the CMA’s review.
All of our business practices are externally reviewed by regulatory risk auditors so when you sell with us, you can trust that we will be discreet, sensitive, fair and honest.
If you’d like to know more about how we work or you have questions about selling to House Buyer Bureau, get in touch, and one of our friendly team will be happy to help.
6 Practices You Should Avoid and What to Look for in a Good Quick House Sale Company
- Unclear Fee Structures
Some firms offering quick house sales impose additional and unexpected fees following their initial valuations. These fees are often mandatory if you want to move forward.
House Buyer Bureau doesn’t charge any fees. If you agree to our offer, we’ll sort all the paperwork, and using our solicitors is free. If you don’t want to sell to us, there are no hard feelings and no fees to pay. If you decide to pull out before we exchange contracts, you don’t pay a penny — not even for your valuation. Learn more about what we pay here.
- Reducing the Price Last-Minute
There are house buying firms out there that purposely reduce their offer when a seller is committed to the transaction. On the day before the exchange of contracts, they slash the price they’ll pay to make more money. With the best quick house sale companies, including House Buyer Bureau, the “formal offer” is protected. Our formal offers are subject to a contract and RICS survey, and we’ll only ever reduce the amount we offer on the rare occasion that the survey flags significant issues.
- Making Misleading Claims
Quick house sale companies buy properties at a percentage of their market value. At House Buyer Bureau, we typically offer around 80% of a house’s value. We can offer this service free to our customers because we recoup the cost by selling the property on. The benefit for our customers is that they get cash-in-hand and a quick sale. There is no jumping through hoops, finding estate agents, paying bills on your property while you wait to sell, having to be available for viewings or negotiating back and forth to get an acceptable price. As one of the best quick sale companies, we are completely upfront about this, but some firms aren’t so honest. They might offer a high percentage of value based on their valuation, but in reality, their valuation is artificially low, and they’re buying the property at a much higher discount.
These practices are dishonest and not something we engage in.
- Falsely Claiming to Be a Cash Buyer
The CMA also found that some firms claim to be cash buyers, but they’re really brokers (or lead-generating companies) that collect your data and sell it to a third party to pursue. We recommend always doing due diligence and seeking clarification that your house buyer is really who they say they are. We are a genuine cash buyer and are happy to provide evidence of funds.
House Buyer Bureau is part of HBB Relocation Services Ltd (company registration no. 7857990), and you can find out more about us and our financial accounts at Companies House or Endole.
- Locking You into Contracts That Prevent You from Changing Your Mind
The same quick house sale companies that make a big offer and lock you into a contract (during which they gradually chip away at the price) also usually block you from selling to another buyer — sometimes for up to six months or more. This is usually because they are raising the funds to pay you or because they’re a broker that needs time to sell your “enquiry”. This means that you rarely get the quick sale you need, and worse, some firms charge you thousands of pounds for breaching the contract and going somewhere else.
We don’t ask you to sign a contract. You’re under no obligation to accept our offer — both in principle and formal — and you can walk away at any time right up until the point of exchanging contracts.
- Offering a Quick Sale and Then Taking a Long Time to Complete It
Some firms offer a fast sale when they’re in no position to do so. Whether it’s because they are raising finance or trying to sell your details to another buyer, it’s misleading and potentially devastating to customers who need to raise funds quickly.
House Buyer Bureau is a genuine cash buyer, and we can prove that we have bought houses in as little as seven days. Our property purchases are not subject to obtaining bank finance or mortgages, so you can move forward knowing that you’ll sell your house and get your cash quickly — no delays or dragging out the process.
Get in touch with our friendly team of property experts to discuss your needs or get a cash offer. We’re here to help, and we won’t use pushy sales tactics to clinch the deal. Check out what our customers are saying about us below.
