Thinking about selling your property quickly
Common reasons for a quick sale
Quickly avoid repossession
Inherited property disposal
Relationship breakup
Estate Agent not delivering
Chain has collapsed
Buyer has withdrawn
Current affairs affecting estate agency sales
Price discounts
Research by Zoopla in November 2023 showed discounts required by buyers have grown to 5.5%, an increase from 3.4% at the beginning of the year.
It was even higher across London and the south east of London reaching 6.1%.
Read more with The Guardian
Over-valuations
Rightmove and Land Registry reveal that in 30% of property sales, there is a 22% – 37% gap between asking prices and sold prices.
Over-valuations by estate agents are resulting in homeowners having to cut sale prices significantly.
Read more with This Is Money
House price falls
As reported by the Nationwide BS, London house prices have fallen 3.8% and 5.3% across the UK as a whole.
Caused by higher mortgage interest rates, experts say a full crash is unlikely.
Read more with The Standard
Time to sell a home
According to Zoopla, from the initial listing to an exchange and completion, the average time to sell a home in the UK is 25 weeks, just under six months.
Selling chain free to a buyer with funds in place can reduce this dramatically to just 4 weeks.
Read more with Zoopla
Gazundering
This is when a buyer lowers their offer just before exchange and completion.
Recent research showed that 31% of sellers experienced gazundering, 51% of which just 2 weeks before exchange.
Read more with Google News
Agreed sales collapsing
Reported by the National Association of Property Buyers and TwentyCi a property data company, sales agreed chains collapsing has soared to 25.4%.
Worst of all, the fees paid for surveys, searches and solicitors fees are lost.
Read more Property Industry Eye
These pitfalls can be avoided with the right cash buyer
A little bit about quick sale companies
The only way to guarantee the sale of a property, one you have total control of, is with a reputable cash buyer.
‘Quick Sale’ buying companies are the fastest way to sell your house or property.
The biggest benefit of using one of these companies, is that homeowners receive a guaranteed quick offer price with completions within desired timescales.
Benefits include no upfront costs or estate agency commissions to pay, no EPC or viewings required and solicitors are normally paid for by the buyer.
Commonly used by homeowners dealing with relationship splits, inherited property, repossession proceedings or those simply looking for a guaranteed private sale.
.
Completions typically within 28 days, as quickly as 7 days if required..
Genuine offers around 75-85% of a Royal Institute of Chartered Surveyors (RICS) valuation.
Very similar to the net sale price seen with an estate agency sale, but without the hassle or stress.
However, there are lots of disingenuous companies and scams out there you need to avoid.
Don’t allow yourself to be swindled
Some deceitful property companies advertise unbelievable offers up to 100% of market value.
If it sounds too good to be true, it probably is.
Ask yourself, why wouldn’t they simply buy the properties from estate agents?
Because there’s a lot more going on here, every company needs some kind of margin to make a profit.
.
Yes you may well receive one of these fabulous offers, but will be asked to sign a lock-in agreement.
Often riddled with onerous clauses & restrictions, they really need to be seen by a solicitor before signing.
.
Lock-in agreements prevent you seeking other buyers and allow them to reduce their offer considerably.
If asked to sign one of these agreements, their initial offer is probably worthless.
Used to delay & delay, until your circumstances have become so desperate, that you will accept any offer.
There are cases where it took over 6 months to complete, with final offers below 40% of the property value.
.
Even if they advertise on TV and are a household name, it doesn’t mean they will treat you fairly.
Never sign anything that prevents you seeking better offers elsewhere.
This industry is not regulated and is full of those seeking to take advantage of you.
Always get legal advice before signing any agreement or contract.
If you are already tied into one of these awful agreements
or your property company has reduced their offer.
Contact us immediately, we can still help.
Speak to our solicitors, free legal advice available.
Our proven cash buyer investors will provide
A simple short standard purchase contract
A fee free offer, including free conveyancing
An offer that won’t change at the last minute
A property sale in a timescale that suits you
A Rightmove RICS Homebuyers valuation
Up to 85% of valuation, minimum 75%
Like an estate agent, only with cash buyers.
There are no estate agency or solicitors fees for you to pay.
The buyer will cover them all, conveyancing costs, the survey, the EPC report and our agency fee.
Once a price has been agreed based on a percentage of the true value of your property.
We will instruct an independent RICS valuation through Rightmove and provide you with a copy.
Completion will then be set at a time that suits you.
A simple, transparent and stress free property sale.
