From time to time it is always a good idea to hear from other property sellers on how they have overcame obstacles when selling their property. One of the most common problems faced by sellers today is finding a buyer when they need to sell quickly. Mr and Mrs Blackburn from Swansea had this problem when they were trying to sell their 2 bed semi-detached house. Below we have looked at their situation in full detail so that you can make your own mind up whether this option may be suitable for you if you ever decide to sell your property in the near future and need to sell it fast.
How we sold our house online using a cash buying company by Mrs Blackburn.
“When it was time to sell our house due to myself and my husband retiring and my husband being unable to climb the stairs, we searched the property market and found a lovely bungalow that suited us perfectly. However, the problem came when we needed to sell our property. The seller of the bungalow was looking for a quick sale, and wanted someone in a position that could move quickly.
We decided to try various methods to get a quick sale, as we really didn’t want to lose our dream property. We advertised in newspapers, reduced our offer with the estate agents, but all we seemed to get was time wasters. Then my husband decided to go on the internet to check out what he could find and if any services could help up get a sale.
I was at first a bit apprehensive, as you hear so many negative stories about cash buying companies, and the media portrays them as money ‘vultures’. This did seem to be the case after a few phone calls to the main companies that were advertising on the internet.
However, we found one company (Better Price Paid) that said they were ‘genuine’ cash buyers. Again, I was dubious but their credentials all checked out, they were registered with the property ombudsmen and they provided an address, land-line number, and had good reviews online.
With some of the other companies asking for fees upfront, and demanding we pay for our own valuation, this company was completely free every step of the way (apparently), so we had nothing to lose.
We got a valuation done, and the valuer turned up 2 days later from our first conversation. The figures came back to us of what the company would pay, and we decided it was right to sell.
We got the cash in the bank in 9 days in total, and it put us in a position of being cash buyers. We even cheekly asked for a discount from our bungalow for being cash buyers – which was accepted.
All I can say to anyone deciding to sell for cash – don’t judge everyone the same. Some companies genuinely are out to help you. Shop around and you will find the right buyer for you.”
If you are interested in hearing more from Mrs Blackburn’s property sale, feel free to email us directly and we will put you in touch with the company she sold her property with.
Sometimes we get asked by our customers about valuations and costs involved. There are 3 different types of valuation, an estate agents valuation, online valuations and a RICS valuation. Estate agent valuations are normally free, and they will come out and make a valuation – usually on the basis that you will sign up with them. The major flaw in this is that agents will tend to overvalue your property in the first instance purely to get you to sign up with them instead of another agency. This doesn’t give an accurate valuation of your property, and you may have to reduce your asking price later on.
Online valuations are really not to be taken literally and are purely for a very rough estimate. They work by taking statistical data from previous sale history in your area. The problem is that the data is generally 6 months to 1 year old.
The other type of valuation is a RICS valuation. RICS stands for Royal Institute of Chartered Surveyors, who are an independent body that value property for mortgage purposes. This is the only type of valuation you can trust and will give an accurate value of your home. This valuation does however come at a cost of around £500.
Some cash buying companies will make you pay in full or contribute to a RICS valuation if you decide to get an offer from them. However, if you decide to get an offer from Best Prices Paid, we will pay for your valuation. If you aren’t happy with our offer based on that valuation, you are free to walk away without spending a penny. You can get an indicative online offer on our website now to estimate what we think your property may be worth. Remember, it’s free!
With the property market booming, and an abundance of buyers available through the ‘Help To Buy’ scheme, we are now questioning whether or not you actually need an estate agent?
Complete this simple quiz now to find out whether or not you could cope without an estate agent and sell your property yourself! We will be posting the results of this market study on our blog in a few weeks when we have collected enough data.
We’ve all seen the amount of ‘cash buying companies’ that have started advertising in national newspapers, radio, television and most commonly the internet – but what you may not realise is that the majority of these companies are scam artists, looking to trick you one way or another.
If you have spoken to us, you will know we are sincere and genuine, and we have your best interests at heart. If you want a cash offer from us, it will be just that – an offer. We don’t see the point in giving you an unrealistic price in the first instance, only to drop our offer at the last minute.This being one of the biggest scams that are currently being practiced.
Below we highlight the scams that you need to watch out for.
No funds to buy.The most common scam practiced is that the company doesn’t have funds to buy. They are either investors, or estate agents. They may even ask you to pay money up front. Always ask any ‘cash buying company’ if they can provide you with proof of funds. If they try to fob you off with excuses like they need to see the property first, or they don’t have the funds just yet, it’s likely a sign that they aren’t a cash buyer.
It’s just an estate agent. This ties in with the above point in that estate agents don’t have funds to buy property, however, a number of companies are advertising that they can ‘buy any house for cash’ but in actual fact don’t have any funds to buy. This in our opinion is completely false advertising and needs to be stopped.
They are illegal. A number of shady companies and individuals practice shady selling tactics in order to drain as much equity and profit from your house sale as possible. They will try to convince you that it is ok to lie to mortgage companies or surveyors, and they will have no morals. Avoid.
100% market value. Realistically, no one is ever going to pay 100 per cent market value for a property. Even on the open market, everyone likes to put in a lower offer. For cash sales, it’s really no different. Cash buying companies like ourselves are taking a risk in that we have to wait for your property to sell again. We are also a business, and we need to make a profit and pay our staff. Without making you a genuine and fair offer for your home based on a RICS valuation, we wouldn’t be able to operate.
Just remember if it sounds too good to be true, the likelihood is … it is! If you need a genuine quick sale, and would like the cash in 7 – 10 days, we can help you.
Selling your house in a downward market is always difficult, but Christmas time is another matter in itself. However, with the property market changing, and prices on the increase, does this make it any easier to sell your house during the December festive period? Possibly!
As a general rule amongst estate agents, it’s never usually a good idea to advertise your property for sale during Christmas. Most people aren’t really thinking about moving; they are out buying presents, visiting family and generally in a different mindset to the rest of the year.
However, what happens if you need to sell quickly?
Choosing the right estate agent for your house sale in December is a must, and you ideally need someone who knows the local area. Often, local estate agents have access to genuine cash buyers who they have on their contact lists. These investors may be looking for particular property, and may be exactly your property. You never know!
The best thing to do is ring around a few local estate agencies, and tell them that you are interested in selling quickly, and ask what they can offer you.
Working with a good solicitor.
Lawyers and solicitors are notorious for their ‘lack of’ speed when it comes to property sales. If you have a good solicitor on your side it can make all the difference, and can drive forward the sale of your property. Working with the buyers solicitor and mortgage company, they have the ability to get your sale through a lot quicker.
Considering a cash sale.
Just because it’s Christmas, it doesn’t put of genuine cash property buyers. At Best Prices Paid we are genuine house buyers, and have the cash funds to pay top prices for property regardless of the season! We can even buy any house in any location, or condition.
If you are interested in getting a cash offer from us, simply complete the form on our homepage.
This is a popular question that we are asked at Best Prices Paid. As a general rule, estate agents will struggle to sell a property on the open market that are in a state of disrepair. What they tend to do is approach cash buying companies like ourselves, or they advise you to sell at auction.
We can offer you a sale regardless of what kind of condition your property is in, be it a minor repair, or major structural issues. We literally can buy any house regardless of condition.
The benefit of selling to a cash buying company like ourselves is you can quickly sell the property, rather than trying to spend time and money repairing it yourself. This is especially good if you don’t have the funds to carry out major repairs and you just want the cash to move on to your next home.
If you have a question you would like answered, feel free to email us (you can find our email address on the contact us page of our site), or alternatively get in touch on Zoopla Q & A.
If you have looked around our site at Best Prices Paid, you will know by now that we are genuinely one of the most honest companies in our industry. We won’t lie to you and promise you a sale in 24 hours for 100 per cent market value in cash. The reason is, it doesn’t happen and it’s not possible.
As a general rule we can pay up to 80 per cent of the market value of a property for a quick cash sale. Bear in mind that this is for genuine cash, in your bank in 7 days.
If you would like to find out the exact figures on this, the best way to do so is to get a free valuaton from our site, which you can access here.
Alternatively give us a call on 0800 612 7917 and speak with an adviser who will be happy to take you call and assist you further.
Is there a way to achieve 100 per cent market value?
If you need to sell your property for cash, there is no way you will be able to get 100 per cent of the market value paid to you from us, or any similar company. We are a business and operate as a business that makes profit. We have staff to pay, and expenses and need to make a profit from purchasing property.
Having said that, we do offer an alternative sale option on the open market, using our quick online estate agency service. This service works similarly to a traditional estate agent sale, only it’s a lot faster and less expensive. For further information on that service, feel free to speak to our adviser, or simply complete the form on our website. You will be presented with 3 different selling options, one of which is the estate agency service that we offer.