‘We Buy Any House’ companies like Sell Property Fast Cash are more popular than ever for sellers needing a quick sale of their homes.
We Buy Any House firms are an increasingly popular way these days for home sellers needing to sell a property fast. In some cases, it’s a matter of impatience. Owners can’t move onto the next chapter in their life until they sell their home to raise funds. Other people need a quick property sale to get out of financial difficulties. And when time is of the essence, a ‘we buy any house’ service can help.
If you need fast cash, cashing in on the equity in your home is a great option. But it’s not always easy — even in a buoyant property market. There may be occasions when you need the money in a matter of days. And in this kind of situation, the open property market simply can’t deliver.
So people turn to quick house sales companies. But you may have noticed that there are more of these firms around today than ever before.
How do you know a ‘we buy any house’ company can be trusted? How do you know which service is best for your needs? And are you sure that going with a traditional estate agent isn’t the best course of action?
These are all valid questions. And we’re here to answer them for you.
What is a ‘we buy any house UK’ service?
A ‘we buy any house’ company purchases homes — or facilitates purchases for cash buyers — directly from owners. A simple offer is made, and upon acceptance, the process fast forwards straight to the legal stage.
Put simply: quick house sale companies dispense with the need for the traditional property market. Instead of listing your home, taking photos, writing property descriptions, showing people around your home and negotiating on price, you jump straight to the admin side of things.
What does this mean for the homeowner? Well, it means a faster house sale. The average sale on the property market takes between one and three months. But selling directly to a ‘we buy any house’ company allows people to cash in on their property within a matter of weeks.
In fact, some owners get the proceeds of their house sale in their account within just seven days or so.
If you need to unlock the equity in your home fast, for whatever reason, a reputable house buying company should be able to help.
Why sell your home to a ‘we buy any house’ company?
The main reason any owner decides to sell their home to a ‘we buy any house’ firm is the need for speed. In some cases, people sell in order to stave off repossession. Others sell in order to clear personal debts or finance new businesses. And some owners simply want to move on with their life as quickly as possible.
As well as speed, a reputable quick house firm delivers some key benefits:
No upfront fees
Any decent, trustworthy house buying company will never charge fees upfront. In fact, a reputable company will never charge you a penny.
When you sell a house using a service like this, you shouldn’t have to pay for valuations, surveys or legal fees. All of the usual costs associated with selling a home should be taken care of on your behalf.
But you might notice that the offer you receive is a little less than market value. This is the price you pay for a fast, hassle-free house sale. But if getting cash fast is your priority, this is a price well worth paying.
Even if you were to sell your house fast on the open market, you’d still face costs. Estate agents fees, compiling a home information pack, home staging and conveyancing all cost money. If you’re strapped for cash, the chances are you don’t have any to spare on the house selling process. This is just one reason why ‘we buy any house’ firms are so popular right now.
Sell for any reason
As long as there’s nothing illegal about your home or how you acquired it, you can sell it for any reason. These house buying companies aren’t interested in the ‘why’ — they only deal in the ‘how’.
Maybe you want to kick-start your retirement with a new car and a new home? Perhaps you want to downsize and give your children their inheritance early. Or you might want to halt repossession proceedings before they permanently affect your credit rating.
As long as you are the legal owner of the property, why you need to sell is irrelevant. If you’re selling on the open market, a lot of buyers will want to know why.
A reputable house buying firm with a solid reputation will never charge you for the initial valuation. A team of property experts will use historical and current house price data to value your home as accurately as possible. And they’ll do this free of fees and any obligation to buy.
The offer made to you will take into account current market conditions and the cost of buying property in the UK. It’s then up to you what happens next. If you turn down the offer, you’re free to go elsewhere — contracts should never be signed in advance. The only contract that matters is the contract of purchase.
The application process is simple
The application process adopted by most ‘we buy any house’ firms couldn’t be simpler. Simple call them up (usually on a freephone number) and talk to the property expert about your circumstances.
Using a few key details, the company will provide you with a valuation or offer. This may be done instantly, but it can take up to 48 hours. Once you accept an offer, more detailed checks take place. You’ll be asked a series of questions about your property.
What you won’t need to do is fill in long and complicated application forms.
Less hassle than selling with an estate agent
Selling a house with the help of an estate agent doesn’t mean you can leave everything to the professionals. Far from it. You have to help with the creation of property listings and descriptions. You need to be there to answer questions. And you may well have to host property viewings yourself.
You don’t have to worry about any of this when you sell to a house selling company. Once you’ve accepted the offer, you can sit back and relax. Apart from answering a few questions about your property, you can leave all the hard work to someone else.
Avoiding the scammers and fraudsters
If you can’t afford to wait for three or four months to sell your home, an advert for a UK-based ‘we buy any house’ firm might be very appealing. But it’s important to proceed with caution when it comes to such a huge transaction. Everything may not be as it seems.
Sadly, there are several unscrupulous house buying companies that prey on the vulnerable and desperate. These rogue firms give the industry a bad name by duping unsuspecting owners into parting with their property without knowing all the facts.
The company in question might look professional and reputable, but scammers will go to enormous lengths to gain the confidence of consumers.
Before you even approach a house buying service, search for the company on third-party websites across the Internet. Find out what customers have been saying about the firm on chatrooms, discussion boards and social media.
If you’re happy the company has a proven track record of success and reliability, make sure they’re registered with both the Property Ombudsman and the National Association of Property Buyers. If everything checks out, proceed with caution.
It’s also worth bearing in mind that reputable firms will never get you to sign an exclusivity agreement in advance. Ideally, you should get two or three valuations before deciding on the best company for your needs.
It’s also a good idea to avail yourself of all the known scams in operation today. Some are brazen and large in scale, while others are subtle yet realistic.
The most common ‘we buy any house’ scams include:
Inaccurate property valuations
If a buyer offers you 10% more than the going market rate for your home, you’re bound to say yes. Who wouldn’t? And this is something unscrupulous house buying firms exploit. They make you believe your home is worth far more than it is. And they make an initial offer based on that valuation.
These companies will do anything yo get your business. And once you’ve agreed to sell, they’ll often tie you into a contract to stop you from changing your mind or going elsewhere.
Reduced offers at the last minute
Scammers know that you’re in a hurry to sell. And they use this to squeeze extra money out of you — in the form of a last-minute reduction in sale price. Why do they do this? Because they’re pretty sure you don’t have the time to go elsewhere. And they’re equally sure you don’t have time for legal challenges and arguments.
Just a day or two before the proposed completion date, the rogue house buyer will start bombarding you with messages about problems with the sale. This is all about reducing your expectations on price. They’ll then hit you with a bombshell: Either accept this greatly reduced offer or everything is off.
It is highly unlikely that any external factor will change the value of your home in the space of a few days. If a company is offering above market price and promising to complete the sale within 14 days, alarms bells should ring.
Any fees involved throughout the house selling process should be declared before you sign anything. This includes valuation fees, survey fees and completion fees. However, there are several very reputable house buying companies that buy houses for free.
You shouldn’t ever have to pay upfront fees to a ‘we buy any house’ firm. The cost of the transaction should be reflected in the offer made to you at the beginning of the process.
Fake completion dates
This is one of the most egregious ploys used by scammers and fraudsters in the house buying industry. Unscrupulous operators know just how desperate their customers are for a quick sale. So they make false promises about the time-frame involved.
Imagine you have 14 days before your home is repossessed. A house buying company promises to complete the purchase of your home in seven days — giving you plenty of time to pay off your mortgage and avoid a black mark on your credit rating. But two weeks becomes four weeks, and the excuses continue. Unwilling to wait any longer, the bank repossesses your home. Although this scenario is fairly common, it can be avoided by choosing a reputable house buyer such as Sell Property Fast Cash.
Option agreements allow ‘we buy any house’ firms to sell your home via a third-party. In some cases, these third-parties are known scam-artists with a dreadful reputation in the industry.
If you’re asked to sign a contract at the beginning of the process, study it carefully. Anything that signifies the right to assign the sale to a third-party should raise the alarm.
Rent-back schemes without regulation
A rent-back scheme involves buying a home from its owner then renting it back to that person immediately. The idea behind it is that owners can unlock the equity in their home without having to move out.
But all rent-back schemes are regulated by the Financial Conduct Authority. Before you sign on the dotted line, ask if the rent-back deal being offered is regulated. And if you’re in any doubt, contact the FCA yourself.
Frequently asked questions about ‘we buy any house’ firms
Can ‘we buy any house’ companies be trusted?
In any industry there are always unscrupulous operators who are determined to scam people out of their hard-earned money. The same is true of the ‘we buy any house’ sector. However, there are plenty of firms in the UK that deliver a trusted, fair and reliable service.
Do your own research. Check out customer ‘we buy any house reviews, online discussions and professional bodies such as The Property Ombudsman. Is there a proven track record of good customer service and following through on promises?
If something seems too good to be true, it probably is.
What if my house needs repairs or renovations?
Most reputable house buying firms consider any type of home — in any condition. It doesn’t matter if you wouldn’t be able to sell the property on the open market. If it’s still standing, national house buyers will consider it.
Indeed, some people sell their home with subsidence, asbestos, damp and weather-related damage. If you’re selling a house that requires extensive repairs or renovations, be prepared for an offer that reflects the work involved.
Is there a lot of paperwork involved?
Paperwork slows down any process, which is why a good house buyer will keep it to a minimum. You might be asked to sign a document at the very beginning of the process. Make sure you read it thoroughly. Don’t get tied into a deal you can’t get out of.
The only other major document you’ll need to sign is the contract. Other than that, you should be able to simply wait for the process to complete. A reputable house buying company always takes care of the paperwork. This is one of the reasons the house buying process — in many cases — lasts just seven days.
Can a ‘we buy any house’ firm stop repossession proceedings?
The simple answer is ‘yes’ but only if you act swiftly. While ‘we buy any house’ companies can complete a house purchase in just seven days, 28 days is the average.
It’s also worth remembering that unscrupulous house buyers will promise the Earth to get your business. They’ll tell you that they can complete by a certain date simply to get your business. Before you sign anything, research the house buyer on the Internet. Check out recent customer reviews’, and reach out to professional bodies such as The Property Ombudsman for advice.
A company such as Sell Property Fast Cash specialises in completing house purchases within seven to 28 days. But crucially, our property experts will be upfront and completely honest about your chances of staving off repossession.
When will I get my money?
This depends on a range of issues, and whether or not there are any legal barriers to a smooth sale. All being well, you might be able to get your hands on the proceeds of your house sale within a week or two. However, in most cases, the fast house sale process takes around 28 days.
Need to sell a house in a hurry? Looking for a ‘we buy any house’ firm with a proven track record of great customer service? Look no further, contact us today to discuss your specific house selling priorities.