If you are currently trying to sell a property, and need to sell it fast you may have considered using a fast house sale agency to sell your home for you. A number of these types of companies are arising on the internet in different shapes and forms, and below we have highlighted the types of quick sale you can expect.
Fast sale estate agents.
Fast estate agents are generally just online types of estate agents, the offer you a potential quick house sale. The reason we say potential is that it is not guaranteed. What a fast sale estate agent will generally do is list your home on the open market, for a reduced price. This is no way guarantees you a ‘fast sale’ however it is a route to market that some homeowners choose. With the estate agent being online based it is generally up to the seller to do most of the work – for example viewings, dealing with buyers etc. This is not a guaranteed ‘quick sale’ and the chances are you will be looking at around 3-6 months from the date you list to the actual sale going through. Your buyer will likely still need to get a mortgage and may also be in a chain which will delay things even further.
Investment companies generally try to sell your property quickly to investors. These investors may be cash buyers, but as a general rule are buying on mortgages – which are more stringent to apply for than a regular home sale mortgage. Again, this all takes time, and if you are looking to sell fast this could delay things. Investor types sales are not guaranteed and you will be relying heavily on the investor firstly attaining credit, and secondly not getting cold feet at the last minute.
Cash buying firms.
The only true way of selling quickly is for cash, which you can find from a genuine cash buying firm. These types of firms are very rare (even though there are many companies advertising that they pay cash for properties). The truth of the matter is in the UK there are only a handful of genuine cash buying companies that have the funds readily available to purchase property for cash! To find out if a company is genuine is fairly straightforward. What you need to do is ask them! Ask if they have proof of funds to purchase your home quickly for fast cash, and make sure they aren’t dealing with mortgages.
There are other ways you can check up on a cash buying firm, and that is to check if they are registered with TPOS (The property ombudsmen). This doesn’t guarantee that they are cash buyers however it does show some level of professionalism from the company you are dealing with.
For further advice on dealing with fast house sale companies, we recommend you take a look at the following articles:
Remember if you want to sell your property for fast cash, and need to sell your home quickly in the UK – the only way of doing so is to use a genuine cash buying firm.