Most property owners believe that the only method of selling a property is through the traditional channel of an estate agent. However a number of companies on the internet now offer a service whereby they will buy your house fast for cash. In fact, these types of companies often offer a sale in as little as 7 – 10 days, meaning you are guaranteed to get the cash in your bank without worry. Having said that, cash buying companies are not without their negative side – in that you will be required to accept a discount on the price of your home somewhere in the region of 25 percent off the current market value.
You really need to weigh up the pros and cons of accepting a discount of this much, and whether or not it is a good deal for you. If you think about it, any company you buy something from is trying to make a profit. If you sell your car part-ex, the likelihood is you will accept a discount of 30 percent or more in order to exchange it for a new vehicle. The property buying companies are absolutely no different, and you need to bare this in mind when making your decision. With the help of a property professional we have looked at a few things you need to consider before you dismiss quick sale companies for the sale of your property.
One thing to bare in mind when it comes to using a quick sale company is the time it will take in comparison to a regular estate agent. A quick sale company will likely be able to complete on the sale of your home in 7 – 10 days flat. On the other hand an estate agent is more likely to take around 6 months to get the completion of your property through.
Quick sale companies in general will not charge you any fees to sell your house with them. This should include your solicitor fees, legals and valuations. However, some unscrupulous companies may try to charge, so make sure to check with them before signing anything. Estate agents will expect you to pay for EPCs, advertising, solicitors, legals, stamp duty, and a commission for selling your home.
The other added benefit of a cash buying service is the guarantee that you will get a sale. With an estate agent you really don’t know the position that your buyer is in. Do they have a property to sell? Can they get a mortgage? Are they stuck in a lengthy chain? With a cash buying service there is no chain, and your sale is guaranteed to go through as long as you accept the offer they give you.