We Buy Any House 2019 (Plus Reviews)
Selling a property is a stressful time, especially in a turbulent property market. Many sellers find themselves wondering what the best way is to sell their home quickly while also getting a fair price. There are a number of reasons why you might be after a quick house sale that could lead you to consider using a ‘we buy any house’ organisation.
Companies claiming they can sell your home in a matter of days are in abundance these days, but how do they work and how can you choose a reputable one? This guide covers everything you need to know about ‘we buy any house’ organisations, as well as some top tips from our experts.
What Is A ‘We Buy Any House’ Organisation?
These are relatively new breed of property buyers which claim to be able to buy any home in a matter of days. They often offer a cash value for the property and can be worth considering if you are a homeowner in a position where you need to sell very quickly. Situations, where you may need a very quick property sale, include avoiding repossession, clearing debts, disposing of inherited property, relationship breakdown and divorce, or relocating to another area.
Some people choose to use ‘we buy any house’ or “quick house sale” organisations if their property is proving difficult to sell through traditional estate agents. It can be a good option for homeowners whose property has been on the market for a long time or it is a difficult to sell property due to it needing modernisation.
How Do These Companies Work?
There are so many ‘we buy any house’ companies out there, and they all work in slightly different ways. Some will have the cash available to buy your home directly and will then sell it on at a later date. Others will find a third-party buyer for the property very quickly.
Generally, all of these types of organisations will pay in cash for the property, but at a discounted price which is considerably less than the market value. ‘We buy any house’ organisations will also offer a percentage of the property’s actual market value, in return for guaranteeing a very quick house sale. Many will also offer to cover all legal fees and other costs involved to make the whole process as easy as possible for the seller.
Be careful to choose a reputable ‘we buy any house’ organisation as there are some out there with scams and operating unscrupulously. A common complaint that many sellers who have used these companies have is that they offer one price and then drop it at the very last minute. To ensure you’re not scammed consider a buyer who is also a member of the TPOS. The TPOS have also produced this pdf that contains some useful tips for sellers.
How To Choose A Reputable Buyer?
There are no regulations in place for the quick house sale market, which means sellers have no form of protection when it comes to using a cash buyer organisation. It is vital that you choose a reputable buyer when considering a quick house sale company and one of the best ways to do this is to check reviews and ask for testimonials from past sellers.
Research any ‘we buy any house’ organisations that you are considering and read through reviews of previous sellers who have used them. This can give you a good indication of it they are a reputable buyer or if they are likely to cause you more problems than they are worth.
Be cautious of any of these types of organisations with no genuine reviews available, as this is a sign that they have not been used much in the past. Also always look at independent review sites such as Trustpilot, instead of on a company’s own website.
Advantages Of Using This Type of Organisation
There are a number of advantages to choosing to sell your property to a ‘we buy any house’ organisation:
- Guaranteed sale: There is no waiting around for a buyer to be interested and put in an offer; you are guaranteed to sell your property.
- Quick sale: Your house sale can be completed within a matter of days with some ‘we buy any house’ organisations.
- No estate agent fees: When you sell to a ‘we buy any house’ organisation, there are no additional fees to consider, and many of these companies will even pay your legal bills.
- Any property: No matter how difficult your property is to sell on the open market, ‘we buy any house’ organisations will buy it quickly and easily, including properties that are considered risky such as in flood areas.
Before deciding if a cash buyer is right for you, be sure to do your own valuation of the property. Get three different estate agents to value your home so that you can accurately compare any offers made by quick sale companies. If in doubt you can also pay for your own RICS valuation in your have concerns about the value of your property.
Disadvantages Of Selling To This Type of Organisation
Any seller considering using a ‘we buy any house’ organisation should also be aware of the disadvantages:
- High risk: The quick house sale market is filled with companies that are not very reputable. Many will agree to buy a home and then reduce the price offered at the very last minute.
- Inaccurate valuations: Some ‘we buy any house’ companies will make false property valuations in an attempt to purchase a property for far less than it is really worth.
- Low prices: When you sell to a quick house sale company, you will be offered a price that is less than the value of the property on the open market. For many, this is around 70-80% of the market value.
- Restrictive contracts: Some ‘we buy any house’ companies will use restrictive contracts to tie customers in so they cannot change their mind and sell to someone else with a better offer.
Selling to a company like this is very different to selling through a traditional estate agent. You are likely to have little control over the offer amount, who you are selling your home to, and various other factors. Estate agents give you the freedom to sell to whomever you want for a price you have agreed.