Quick sale of property - choosing the best agent vs the 'we buy your house' companies

If you need to sell your property fast this short guide is designed to show you the options you have available.

Do I really need to sell my home fast? Before you sell your home you should be certain that selling it is the right thing for you. Sales are definite; once it's gone it's gone. If you have made the decision to sell and you cannot wait to sell your property in 2-6 months as could be expected with a traditional agent you have 3 main angles you can take.

1. Fast Sale Agents (including us)
2. Private companies/individuals who will buy your house for cash
3. Selling at auction

Let's look at the first 2 options in turn:

Fast sale agents

Fast sale agents are estate agents who tend to have a large number of cash buyers on their database and work with solicitors and other professionals who are used to completing sales fast!

A fast sale agent should take one of two approaches when offering your property for sale depending on what is best for your situation.

1. If you can afford to wait a month you could use a sale by tender or sealed bids approach. This way you'd market the property for a set period of time and people would offer their best price for the property. All the bids are secret so buyers pay what they are willing to pay. After the deadline the offers are opened and the best offer for the seller's situation will be accepted.

2. If you cannot afford to wait a month a good agent should have a frank and honest conversation about what you need to walk away from the problems. Your agent should then seek out a cash buyer who is willing to pay the amount required and is prepared to work with the completion timeline.

We offer both these solutions based on your situation. Generally option one is the best option for sellers in all cases barring sales due to the threat of mortgage repossession. If you are months behind and you're mortgage lender is threatening repossession to your lender a quick sale which pays them back their outstanding debts may be what they want. You should speak to your lender first if you are in this situation.

The 'We Buy Houses for Cash' People:

Have you ever wondered why there are so many ads in the paper and online which offer a quick sale for cash?  Well it is because they work.  Like in any industry there are some very reputable individuals and companies who are genuinely putting you the sellers needs first.  But there are plenty of crooks, conmen and shysters who would happily rip you off in order for them to make maximum profit, leaving you with the same problem only this time with no way out!

Here is a link to the Office of Fair Trading investigations into some of these companies http://www.oft.gov.uk/OFTwork/markets-work/quick-house-sales/#.U15Vl1eCA1w

If you are considering using one of these companies we recommend you follow the OFTs guidance:

    • Consider whether a quick sale is the best option
    • Check the provider's credentials
    • Do not proceed until vital details, such as how they are valuing the property, are explained
    • Do not accept verbal promises
    • Watch out for long tie-ins
    • Get independent legal advice if you are unsure what you are signing
    • Be honest when answering providers' questions

Related Articles

Selling Your Property at Auction

Published on 23 May 2014

Source Dominic Woodward

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