Using a quick sale firm saves valuable time whether you are trying to stave off repossession, relocate quickly for new employment or avoid the stresses and strains of the open property market. But with so many options available, how do you know which one will deliver the quickest sale and the best service? With a bit of research into the UK’s fastest house buyers, you may be able to sell your home in a matter of days – for a price that reflects the market’s current strength.
Why would you need the UK’s fastest house buyer?
There are many reasons why you may need to sell your house fast. If you are in arrears and you’re facing the prospect of a very costly repossession, finding a buyer in a fraction of the time it would take on the open market may be an appealing proposition. You may need to relocate for a new job, or you may want to find a buyer for your home without all the upfront costs, delays and hassle associated with selling property the traditional way.
According to an article on The Telegraph website, the time it takes to sell a house in the UK can differ significantly depending on where it is located. In property hotspots such as London and Manchester, homes in some areas are selling in as few as four weeks. However, in the slower housing markets of North East England, they are spending up to three months on the market before being snapped up. Performing a quick Internet search for the fastest house buyer will show you that some companies claim to sell houses in just seven days. While that is true in a limited number of cases, take it with a large pinch of salt.
How much does the house buyer pay for homes on average?
The Independent recently ran an article that warned of the potential dangers of choosing unscrupulous home buyers when you need to sell your house fast. Some companies pay more than 70% of a property’s market value and as much as 100 per cent. However, some offer as little as 50 per cent. For example, a test carried out by The Independent revealed that one fast house buyer offered just £337,500 for a house that was valued professionally the same week at between £475,000 and £500,000.
Remember, avoid any offer below 80 per cent of your home’s actual market value. Then, once you have whittled your choice of companies down to those that pay a fair price for the homes they buy, you can start to ascertain which of them is the fastest house buyer.
Does the house buyer have a proven track record of sticking to its promises?
A reputable, conscientious house buying specialist will pay a fair market price for a home in any condition. However, such an organisation will never make promises it can’t deliver on. For instance, you might think you’ve found a company that offers the quickest time to buy a house, but they may be making guarantees they can’t follow through on. While their glossy ads may talk of purchasing homes in just seven days, their contractual obligation involves buying your home within twelve months.
Unfortunately, there have been some rather negative headlines surrounding house buying services in recent years. A few less reputable companies prey on the vulnerable. According to a BBC investigation, some house buyers have offered only to reduce it at the last minute drastically. At this point, the vendor has no other option than to accept the reduced offer. There have also been cases of sellers being signed up to exclusive house-buying contracts – meaning they must pay significant penalties if they decide to sell elsewhere. The best way to ascertain a company’s credentials is to ask for recommendations on Internet forums and read customer reviews.
Will the house buyer purchase homes in any condition?
In searching for the fastest house buyer, you should also check that the companies you’re considering selling your home to will buy a house in any condition. For example, your property may require substantial renovation, but you may not have the money needed to get the job done. A reputable fast home buyer will factor your home’s condition into the final valuation they make. You can sell any house fast in any situation if you choose a trustworthy fast house buyer.
Does the house buyer charge upfront fees?
Some of the less reputable home buying companies out there will be vague when explaining their schedule of fees. For instance, one major house buyer in the UK charges several hundred pounds for an initial valuation. However, this service costs significantly less when performed by a local estate agent or surveyor. Therefore, it’s essential to check that you’re not committing to anything when asking for a home buyer to value your house. Moreover, you should be aware that several service providers in the UK will provide a no-obligation valuation of your home completely free of charge.
As well as the cost of a valuation, some house buyers will charge additional fees for various services, including conveyancing and purchase arrangement. It’s always a good idea to have a legal professional look over any contract given before you commit, as some buyers might try to hide charges in the small print. Companies in the UK help you sell your house fast and don’t charge you a penny in upfront fees for the privilege.
Deciding which is the fastest house buyer out there
To conclude which of your options is the fastest house buyer, it’s a good idea to understand precisely what these home buying services do. Reputable house buying companies have longstanding working relationships with private buyers and property investors all over the UK. Typically, these buyers have the cash to purchase property almost immediately, and they aren’t subject to the property chains that often scupper the chances of a quick sale. In addition, many of these buyers make money from the houses they purchase, so it is in their best interests to process property transactions as quickly as possible.
Only if a house buyer has a reputation for sticking to its promises, making fair offers for the property and excellent customer service should you consider it a viable option. The simple truth is that any reputable house buying company will never give any promises on the timeframe for your house sale. Of course, you can look for the fastest house buyer reviews to see how quickly specific house buyers purchase a property. Still, the most important thing to look for is a track record of delivering on promised timescales and valuations.
Any company, individual or organisation that claims the accolade of the ‘UK’s fastest house buyer’ should be treated with caution. Even the most prolific home buyers can’t provide you with any cast-iron guarantees on when the sale of your house will complete. However, a trustworthy company will give you an accurate valuation – and one that won’t reduce at the last minute. And rather than make promises on exactly when the proceeds of the sale will be in your bank account (something virtually impossible to do with any level of certainty), a reputable property buying service will be realistic about the timeframe involved. So if you want to find out which company is the fastest house buyer in the UK, you should check their record of completed purchases or sales – and never take them at their word at the start of the process.