Google search terms such as ‘sell house fast’, ‘quick property sale’ and ‘cash for houses’ and 100’s of advertisements and websites will appear.
These days, it is reasonably easy to set up a fast sale operation and target homeowners. However, knowing which ones are legitimate operators is a different story.
Sadly, there are a number of scam operators. Although the Office of Fair Trading (OFT) investigation into the industry made some headway in cleaning up the bad practices, there’s still a long way to go.
It’s therefore important to know how to pick the best company that won’t rip you off. Even though you’re in a rush, always make sure that you check that the firm is the real deal…
How To Choose the Best Fast House Sale Company
1. Check the Credentials
Make sure the company is registered with the Property Ombudsman and National Association of Property Buyers (NAPB). The better companies will also make sure customers are protected by Anti-Money Laundering regulations.
Check their details/accounts on the Companies House website and see how long they have been in business. You can also request a credit report on the individual or housebuying company.
Most will pay your legal fees. Even so, make sure the solicitor is duly registered at The Law Society and has sufficient experience of dealing with repossession cases.
The solicitor should also confirm that you can pull out of the sale if quick sale company changes the price initially promised.
2. Check The Reviews
A simple Google Search of the fast sale company can tell you a lot. You’ll be able to see if they have experience of completing quickly and dealing with repossession cases.
Trust Pilot, Reviews.co.uk, Feefo, Reevoo, All Agents and Rater Agent often have legitimate reviews and customer feedback. Do a simple Google search where you may find some more reviews. Also, check out their social media profiles (Facebook, Twitter and LinkedIn).
3. Make Sure the Company Understands Your Situation
The better companies should take the time to understand your specific repossession case. Even if you are sure you want to sell, make sure they are genuinely helping you – not themselves.
4. Check the Timescales for Exchange and Completion
If repossession is imminent, you need to make sure that exchange of contracts and completion will get done in time. If a quick sale company says they will complete in 7 days, hold them to account and ask for guarantees.
5. Proof of Funds
Make sure they actually have the funds to buy your property. You can ask for proof by requesting a bank statement or letter from their solicitor. Proof of an undrawn debt facility may also be valid, but you should check the details of the loan. The court may also request to see this as evidence of the sale.
You should also make sure that there are no hidden charges/fees or unfair contractual terms.
6. Check that the Offer Will Not Be Dropped at the Last Minute
If the fast sale company states that ‘what they say is what they pay’, request written confirmation – preferably from their solicitor.
There are occasions where the survey reveals unexpected findings. In such scenarios, you should be given a sufficient amount of time to make a choice as to whether you want to move forward (or not).
7. Do Your Own Property Price Research
Most fast sale companies will provide you with an estimated valuation. You should always cross-reference this figure using a number of publically accessible tools including Net House Prices, Mouseprice, Property Price Advice and Our Property. Rightmove and Zoopla also show historical data on the listings.
Always check the valuation of your property. These days, it’s easier than ever.
Sell Through Property Solvers
Property Solvers have close to 2 decades of experience in stopping repossessions.
95% of the people we speak to are not repossessed and stay in their homes.
Quick Cash House Sale
At the same time, many simply want to be rid of the property and move on with their lives. It’s for this reason that our quick cash sale option works perfectly for many clients that approach us.
In repossession cases, Property Solvers can organise for one of our legal representatives to accompany you to court. This ensures the best possible outcome.
We will exchange contracts in as little as 24 hours and present a valid contract to the judge alongside proof of funds. Then, between 7 and 28 days later, the sale is complete.
This means that you can be confident that everything will be done securely, satisfying your mortgage company’s demands.
We will cover all your legal and court expenses and you won’t have to worry about estate agency fees. There are no open days, unnecessary viewings or other hold-ups.
Note that, although the timeframes are slightly longer (due to the extra complications), we can also buy commercial / mixed-use property and land in addition to property portfolios.
Auction Your Property
Many lenders are open to sellers putting their properties up for auction as there’s more certainty relative to using an estate agent.
What sets us apart here at Property Solvers is that we can list properties for auction in days.
This means that we often work to the demands of the mortgage lender seeking to repossess.
Here are some of the other benefits:
- We will find a firm buyer for your house in under 21 days (bids open straight after recommended marketing period)
- We achieve significantly higher sales prices compared to traditional auctions due to attracting ‘retail buyers’
- Winning bidders are charged a ‘non-refundable’ reservation fee, committing them to buy the property
- No waiting times for auction catalogues and maximum exposure to buyers
- Buyers can bid from anywhere in the UK (or the world) from the comfort of their own home – 24/7
- We run our own easy-to-use ‘eBay-style’ secure bidding platform (see our example listing).
- Detail buyer ‘Pre-Approval’ checks carried out before the auction
- Discounted legal packs offered (with ‘pay later’ options available).
- Buy it Now options (to sell even faster!)
- 24-hour enquiry line and buyer viewings available 7-days a week
- Sell land, commercial and mixed-use properties much faster (see below)
Express Sale Estate Agency
Even though your mortgage company is threatening to repossess, we will advise whether selling the property on the open market makes more sense.
For example, if you’re able to agree to some ‘token’ payments, they may be willing to give you a reasonable extension (and halt the repossession process). The sale can then complete and their debt will be paid.
Our aim with the express estate agency service is to get you a firm offer in 28 days in addition to the following benefits:
- Floorplans and property photos
- ‘For Sale’ board in front of your property
- Access to all major property portals (Rightmove, Zoopla, Prime Location)
- Accompanied viewings (including weekends)
- 24/7 enquiry line/chat service
- Weekly sales / viewing reports
- Complete sales progression
- No sale, no fee
- No minimum contract
We can forward any marketing materials, reports and progress updates to the court and send proof that we are marketing the property at a realistic value.
Here’s a quick video that runs through all 3 services we offer:
Stop Repossession Today
Property Solvers freephone helpline is open 24 hours, 7 days a week on 0800 044 3733. Our representatives will take down your basic details for one of our Area Managers to get in touch.
Please also start a chat at the bottom right of your browser, or fill in our enquiry form and we will get back in touch.
We’re waiting to help…