Don’t feel vulnerable as a quick home seller
As a well regulated organisation in the property buying sector, we are firmly on the side of the house seller when it comes to transparency and protocol for the consumer looking to speed up their house sale by coming to us and using our service.
Due to the home owner’s stress levels and high amounts of money involved in quick house selling there is the unfortunate bi-product of unethical, exploitative practice in the sector. For many honest, law abiding citizens pulling apart what may go wrong is difficult. The recent Office of Fair Trading market study looking into the ‘quick house sale’ sector highlights four areas to beware of should you be interested in seeking quick house sale services:
• Offer prices. As the seller, you need detailed information about the first offer price and factors for example an adverse survey may cause it to be reduced later on or even worse right at the last minute. No-one likes surprises, particularly when you’re parting with considerable sums of money. If you have a view on your offer price by discussing a valuation with local estate agents or using an online valuation service such as Zoopla to feel more confident in the initial stages.
• How quickly the property sale will take. The service levels that a website or company promise in relation to the completion date of a quick house sale. Selling a home normally takes 2-3 months and is definitely sped up by reputable property buying companies but beware of empty promises such as 7 day completion date turnarounds; technically possible but invariably differs case by case.
• The identity of the actual buyer. Are you dealing with a broker or lead generation company? Good Move for example are an actual regulated cash buyer of properties (listed on The Property Ombudsman and indeed Companies House – yet another check ) and make this completely transparent in the first instance with prospective clients.
• How the purchase will be paid for. Does the property buyer you’re in discussions with have cash funds available now or must they borrow or raise finance first?
The 2013 study from the OFT estimated that 2012 had 9,300-13,950 quick property sales via property buying service providers (1-1.5% of the residential house sales market).
From inherited property to repairing a broken chain to relocating, many of the reasons leading to speedy property sales are unfortunate life circumstances. For the seller, it is important to be business focused and decipher between when a quick sale is imperative and when you might be being impatient due to slightly more emotive reasons.
From this governmental information, we have listened and understood the consumer priorities of speed, certainty and sale price. We would be very comfortable in prospective clients evaluating the alternatives in the market place on the basis of our transparent processes, regulated status and cash buying provision.
Our key service level agreement of a 24 hour valuation service is one that we firmly adhere to; coupled with our identity, regulation and transparency we feel that we are aiming to improve the quick house sale market place by excelling in honest customer service.