Selling to a Quick Property Sale Company – the Benefits & the Downside
With a gridlocked property market and continuing mortgage shortages many more owners are looking to Sell House Fast companies to ensure a Quick House Sale to allow them to move on with theirlives. But with a plethora of such Sell Property Fast organisations appearing on every web search how does a seller choose. Here are some tips to help you through the Sell House Fast jungle.
1. Beware Sell Property Fast organisations who charge a valuation fee, especially if it’s a lbig fee. A firm making profits from valuations may not truly be interested in buying your property and could make an extremely low offer.
2. Always search around. Some Quick House Sale organisations offer as little as 60% of the valuation of your property, others look to offer up to 80%. Only you can decide what is good enough but it pays to call several of outfits, after all your property is most likely your most valuable asset so you have to get the best deal you can.
3. Always instruct your own solicitor in the selling of your property, he will act exclusively in your interests and there will be no conflict of interest.
4. Obtain a firm commitment to purchase in writing from your chosen Quick House Sale firm. This will lessen your chances of having the offer price reduced right at the last moment.
5. Ask how the Sell House Fast company plans to fund your house purchase. Will they be relying on a bank overdraft? If so what guarantees are there that the bank finance will be ready and available within your required timescale? This is particularly important in the present banking climate.
6. Ask how they will value your property. It’s all well and good getting an offer of 90% of value but if the company then puts an unfairly low price on your property then the reality could be much less.
You should only consider using a Sell House Fast company if the speed of the transaction is more important to you than getting the best price. Bear in mind these organisations are hereto make profits and their core source of income comes from buying your property for significantly less than it is worth. They also have significant costs to cover, such as marketing costs, legal fees, financing costs, valuation and operational costs including office expenses and staff salaries. All of these are covered by the discount you are giving them, and this is the main reason why it is impossible for any Quick Property Sale company to sensibly offer more than around 80% of what you would get for the property if you sold it in the conventional way.
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