So you need to sell your house….
You have found your ideal home and have drawn graphs showing how your furniture will fit in to each room perfectly. Your property has been on the market for a while and although you carefully followed all the ‘how to sell your house tips’ you have had surprisingly little interest in it. You have compared your house to others, checked your asking price is accurate, you have been honest about its shortfalls in location…but oh boy, if you can’t get it sold, there is a chance you will lose your chosen property.
Luckily, there is help at hand and just as webuyanycar.com has done wonders for the second hand car market, there is now a number of specialist property companies such as Speed Property Buyers who promise to buy your property quickly, effortlessly and in cash!
If you find that your property has not attracted the level of interest that you thought it might or you know deep down that for a variety of reasons it is not looking its best or is not situated in a particularly attractive, let alone ‘in a high demand’ area with good schools and public service network, it might well be worth contacting one of these companies to see what they are prepared to pay for your house.
Without ‘beating around the bush’ these companies do press a hard bargain and they will offer you a maximum price of 90% of the value of your house or flat. Having said that, you could be offered as little as 85% of your property’s value. This may make you wince, but in reality, if you do need to sell up speedily, they can present a good solution.
These companies work very speedily and will send a representative out to value your property. You will be given a ‘no obligation’ cash offer and usually once you have accepted the offer, the sale can be completed within seven days. These companies offer a quick and hassle free service and it is, but it just comes at a cost to you.
All property owners, striving to sell a property are vulnerable because what these companies offer is attractive – your property sold and the cash in your hands in seven days. It is essential that you, the property seller, think things through carefully or you could lose out on too much financially. Check out and then carefully consider the offer made to you buy the cash buyers. The plus factors are that there are no legal, evaluation or estate agents’ fees when dealing with such a company. These businesses are unregulated, so a prudent move is to check out the company on companieshouse.co.uk to see if the company is registered and how long it has been in operation and what assets it has. If it is a new company with poor turnover or unregistered…. politely decline!
Sadly, there are charlatans in this sector of the property market, so do check out the company that you are dealing with. Also make sure the company is registered with the National Association of Property Buyers. It is essential that the price that you are offered will be the price that you are given and that the company you are dealing with has the cash reserves to see the transaction through. Once you get to contract stage, it is essential to get the contract checked by your solicitor.
Of course there are other options to consider. If you must relocate for work or other reasons, is it worth renting your property out rather than selling it? Demand is definitely higher than supply and in many parts of the UK, rent prices are surprisingly high. If you are moving for financial reasons, it could well be worth talking to your mortgage provider to discuss options and if it is to gain extra space, maybe the idea of an extension might not seem such a daft idea after all!
Disclosure: This is a collaborative post