Sell House Fast: Myth Busting Quick House Sale Companies
Over the past few years there has been a rapid increase in the number of sell house fast companies. Companies that offer you an opportunity to put your house up for sale and have the whole process completed within 7 days. They have received a lot press, both negative and positive.
Depending on your circumstances, such businesses may be of benefit to you, but it is important to do your research. Some, like WeBuyAnyHome, have established themselves within the field to be trustworthy, genuine, and professional. Others unfortunately have been seen as selling customers short with offers way below the actual value or failing to live up to their advertised promises.
Today we will look at everything behind the sell house fast phenomenon so that you can make an educated decision on whether it works for you.
How can I sell my house fast?
Putting your house on the traditional market is often seen as a long and drawn-out affair. With listings, conveyancing, viewings, offers and more, it can take anything from two weeks to two years to sell your house. Sometimes though, the right location at the right time enables a quick house sale through the regular market. Enabling you to progress with your property projects relatively stress free.
If your house just hasn’t been able to sell there could be a variety of factors at play. Maybe the asking price is too high for the current market, perhaps the location isn’t desirable at the moment. It might just be the wrong time. That is where the option to use a company that sell your house quickly becomes more desirable
The basis of many of these sell house fast companies is that you can have your house sold within a short time frame. They tend to operate in one of two ways, as a cash buyer that uses their own funds to purchase your property, or as a company that sources a 3rd party buyer.
Getting a quick house sale
We touched upon this above and getting a quick house sale is certainly down to timing, value, and presentation. Using a leading high street vendor gains you big exposure and gives you a fantastic opportunity to present your house to a variety of people. A bidding war could erupt and as a result, you find yourself selling for more than the asking price. This cannot be guaranteed though and if you were expecting to be up and out of the house within a short period of time you could be disappointed.
It is this delay that can see those looking to sell, choose the sell house fast option. Earlier we mentioned the primary aim of many sell house fast services is a quick hassle-free house sale. Many of these companies currently offer it yet cannot guarantee that you will sell your house fast. Acting under the guise of being a company that can sell a house quickly they, in fact, trade as an estate agent. This means that the completion for your sale can never be guaranteed. They will await to organise finance or find a buyer before you can complete a sale.
If you are considering the sell house fast route, we recommend you check how they are registered on Companies House and their online presence. Do they have positive reviews? Do they have a physical existence such as an office? Using the example of WeBuyAnyHome once more, their high score on Trustpilot and their membership of the NAPB should give sellers confidence.
Whilst these may seem relatively small issues. Your house sale is important to you and finding a company that operate with integrity is vital.
Sell house quickly advantages
The process of using a company that allow you to sell a house quickly does mean that you can be fulfilling property needs much faster. The chain associated with traditional house selling, not even required. It gives access to quick cash that you can then use to facilitate your next purchase. If downsizing, this means you may even be able to buy the new house outright, or at least put a substantial deposit down on it.
Many of the house fast businesses offer to cover your legal fees. To many the question of, where’s the catch” is quick to follow upon seeing this statement. A totally justified question, we might add. Legal fees swallow up a large part of any house move and to have that money stay in your pocket is much better than having it spent.
Our recommendation is to check with any company that offers to sell property fast. What fees are covered withing their service, are the legal professionals involved hired by the sell house fast company? With their being a variety of fees associated with a house move, clarity and transparency are really important.
Quick house sale
Much like the famous Ronseal adverts from a few years back. A quick house sale does exactly what it says on the tin. A sale of your house within a short time frame. Many say within 7 days, or dictate a certain timeframe. Your current circumstances will be a predominant factor in which quick house sale company you choose. If you are in the need to relocate, have fears about repossession, or have consistently struggled to sell, a sell house fast company is potentially a viable option.
We briefly touched upon it earlier but conduct your due diligence to ensure you are comfortable with who may buy your house. Some companies that offer to sell your house fast are not quite what they state. The number of them now present online can make it hard to work out who best to use. Some won’t disclose direct phone numbers, reviews, or state they are members of NAPB (National Association of Property Buyers). These are the ones best to avoid. WeBuyAnyHome is a founder member of the NAPB and as such, holds itself to the highest standards in the industry.
A quick house sale can avoid repossession
Selling to a cash house buying company allows you to raise funds fast and if you were facing repossession is sometimes the simplest answer. It can be a hard decision and selling may not be your ultimate goal. If a situation presents itself where the level of debt makes it unsustainable to keep your house, contacting cash house buyers to see how they can sell your house fast may be the option. Especially if the time frame presented allows you to clear the debt before further action is taken.
Sell your home fast with no fees
Most, if not all, of the companies that offer to sell your house fast will proudly promote that they will cover all fees associated with a house sale. A huge benefit especially if the normal fees associated with the traditional market were proving to be a bit costly. These fees, ranging from £1500-£5000+ are often one of the biggest concerns for those selling a house.
Selling your house quickly can be stress free
Compared to the common market, selling your house via a sell house fast company can reduce the stress associated with house moves. With no fees, no chain and no waiting, it can all be completed relatively quickly. Providing you have the next part of your property plan in place, you could be moved out and rehoused all within 7-14 days. Compare this to the traditional estate agents where you could find yourself still none the wiser after several months and a quick house sale can make life a little easier.
Sell house quickly disadvantages
As with anything, there are pros and cons. The sell house fast market has unfortunately seen a few businesses that lean towards being more disadvantageous for the house seller.
Above you saw some of the pros, but we believe it only fair to be totally open and show you the most common disadvantages of using these sell my house quickly brands.
Selling your house quickly could leave you with less
Every company should be honest with this, and many are but using a company that can sell property fast will offer you less than the true value. Some could offer 75% of the market value, some may go to 85%. This can be the key negative for many. People want to receive the real value for their property. With a quick house sale company that won’t be able to happen.
However, one thing worth considering is the amount of time your home will be on the market if you sold via a traditional estate agent. For example, your house is worth £200,000, an offer is accepted at £150,000. It has taken 6 months to sell. During this time mortgage payments, utility bills and an estate agent fee have all been paid. Making the £150,000 you receive worth much less. Whereas with the faster sale option, you will not have to pay anything else.
Gazundering your quick house sale
Gazundering is the act of suddenly lowering the price offered. This leaving the seller in the unfortunate position of being forced into the position of accepting an offer they do not really want to take. Some companies that offer to sell your house fast, unfortunately operate in this unscrupulous manner leaving people very vulnerable. Look for companies that promise an offer that matches market value. These are the ones that will have you accepting an offer, only for it to be dramatically reduced at the last minute. Using our earlier example, WeBuyAnyHome state on their website that they will offer less than market value. This means there is less opportunity for a drastic renewed lower offer as you reach completion. They will also allow you the opportunity to shop around without being tied to a contract.
Sell property fast contracts
Many operators that offer to sell your house fast will unfortunately tie you down to a contract where you can only have your house sold to them. This can offer limited scope, acceptance of a poor valuation and little room to move when they lower the value.
Look for a company that is a member of the NAPB. This should provide you with some more reassurance about their dealings should conflict arise.
Consider also asking about exclusivity contracts when looking to pick a company that will sell your house fast. If they inform you that you need one, they may not be the company for you.
Fast House Sale FAQ’s
We hope we have touched upon many of the key features but below are a few of the questions asked surrounding selling your property fast.
How does my property get valued with a sell house fast company?
This could vary between businesses. Some will offer an online valuation followed by one of their team visiting to give a more realistic price. Others though, offer a more transparent service to prove how genuine they are. For example, an initial offer may be given over the phone but then a selection of independent agents will come and view your property. There independent valuations then being used by the company to determine a more representative value.
How can I sell my house quickly?
The quickest way is through a business that offers a quick house sale, although you must ensure you complete as much due diligence as possible.
How will I know the quick house sale company is genuine?
If you choose to go down the route of a sell house fast company. Look for two things first. Are they a member of the NAPB and listed on the Property Ombudsman websites? Following this, look at their online presence, reviews and contract details. If you feel comfortable with what they have to offer, then proceed further.
Do I need a solicitor to sell my house quickly?
No, most companies offer this as part of their package. You must have a solicitor but with one being provided, it is one less headache to worry about. To be sure, always check. Some companies may not be fully transparent and refer to a no fee policy yet have some other fees hidden within the paperwork.
Do you need certain paperwork to sell your house quickly?
You will almost certainly need proof of ownership or documents that indicate you are selling through probate or divorce. Many companies have expert staff handling this side of things, WeBuyAnyHome currently have an experienced team that help facilitate quick house sales caused by a variety of situations.
Can I sell any property fast with a quick buy company?
Yes, an Englishman’s home is his castle, or flat, or bungalow! There are no restrictions on the property type. As long as it is habitable. Many companies even look at properties with subsidence and happily taken them off your hands.
Can I pull out of a sale with a sell house fast company?
With some companies unfortunately not. Therefore due diligence is certainly required. Luckily there are some that fully understand circumstances may change and for a small charge will allow you to stop the process going any further. In many instances, the charge is worked out on several factors so we would recommend you speak with your chosen company at the start of the process to find out more.
We hope this has helped show you a little more about how you can sell your house fast and what to avoid when considering using one. There are many great businesses within the industry but there are also many that operate under false pretenses. It is these that will leave you in a much worse situation both financially and personally. Our recommendation is simply to check if they are members of the NAPB, look for the details of their contracts and ask questions. The team at WeBuyAnyHome guarantee to be fully transparent and will help facilitate your quick house sale easily.
Alternatively, if selling this fast isn’t a priority, our expert team at SOLD.CO.UK can help get you moving. With a free valuation service and a network of pre-qualified buyers, you can contact us today to see how we can make it happen in a timeframe that suits you.