Sell Your House Fast for Cash
Selling To A "Cash For Houses" Company - Everything You Need To Know!
Do you need to sell your home quickly? If so, you've come to the right place. We're here to help you to sell your property fast, for a great price and without the hassle associated with a traditional sale.
We buy any house in any condition, right across the UK. So, if you need a reputable, reliable cash home buying company that you can trust, get in touch with Prompt Property Buyers today.
Why You May Need A Quick House Sale
There are lots of situations that you can find yourself in that would require you to sell your home quickly. These include:
- Avoiding repossession - if you're behind on your mortgage repayments and your lender won't negotiate, selling your home quickly can help you to achieve the best price and to stop the threat of court proceedings.
- To clear debts or get yourself out of financial trouble - if you're struggling with debts or you're finding it hard to make ends meet, we can buy your home quickly leaving you with cash to tackle your debt problems.
- To sell a property you have inherited - dealing with a loved one's property can be tough, especially while you are grieving. We can help you to dispose of the property and to settle the estate
- A need to move fast for age or health reasons - if you simply can't manage your home any more then we can help. Perhaps you want to move nearer to family or into a property more suitable for your needs?
- Divorce or separation - if you need to sell your house swiftly in order to divide assets between you and your estranged spouse or partner, we can help.
- You are relocating for work - if you are moving to another part of the country through work you may need to sell quickly in order that you can buy a home in your new location.
- You are emigrating - you may need to sell quickly to enable you to buy abroad. Or, you may be separated from your family and this is putting a strain on your relationship. You need to repair a broken property chain – if your buyer has fallen through you may need us to step in at short notice to enable your move to go through.
- You don't want the hassle of dealing with an estate agent - perhaps you've tried to sell your house through an agent with no success? Or, maybe you simply don't want the hassle, delays and costs associated with selling through an agent?
Whatever the reason for your fast house sale, call us on 0800 680 9158 or complete our simple online form.
How To Sell A House Quickly In The Current Market
According to figures from Rightmove, only half the properties that were put onto the market in 2010 actually sold. Since the global financial crisis it has been a difficult market for property sellers and there are lots of reasons why you may be currently finding it hard to sell.
One of the big reasons why it is hard to sell in the current market is that there is a shortage of buyers. While most people aspire to owning their own home, the fact is that many would-be buyers simply cannot access either the deposit or the mortgage finance needed to buy a home.
Most lenders require at least a 10 per cent deposit in order to agree a mortgage. With the average house price in the UK now reaching £238,976 it means that buyers typically have to find a deposit of around £24,000 before they can buy.
Considering the average wage in the UK is £26,500, it means that potential buyers have to save over a year's salary before they can consider getting onto the property ladder. For most people this is simply out of reach.
And, even if buyers do manage to save the deposit, getting a mortgage remains difficult. There are fewer lenders in the market than there were five years ago and the criteria for getting a mortgage is tougher than it has been for years.
In June 2013 there were just 54 products available for borrowers looking to borrow 95 per cent of a property's value.
If your home isn't in pristine condition it can also be difficult to sell. Buyers are increasingly choosy about the property they invest in and so if your home is untidy, cluttered and in need of renovation or redecoration it's unlikely that you will find a buyer quickly.
How We Can Help
If you're struggling to sell your property and you need someone to step in and buy it quickly for cash, we can help. We will give you a much faster sale than you might hope to achieve on the open market and we'll make sure you achieve the very best price for your property.
Our customers love the fact that we offer:
- A quick sale - we can manage the transaction quickly ensuring that you have the money in your pocket within a matter of days or weeks. You also benefit from the peace of mind of knowing that the sale will complete fast.
- A certain sale - you don't have to leave your property on the market for months in the hope of finding a buyer. We'll agree to buy your house and give you the certainty you need to make plans and commit to a new property.
- A guaranteed price - when we have agreed a sale price for your property that's what you know you will get.
The Office of Fair Trading says that it is these three main factors - speed, certainty and sale price - that the home seller weighs up when deciding whether to use a quick house sale;
If you badly need a guaranteed fast cash sale, get in touch.
And, if you're fed up with waiting for a buyer and simply want to sell your house quickly for the best available price, we can help.
Why The OFT Investigated The "Fast House Sale" IndustryIn April 2013, the Office of Fair Trading (OFT) launched a study looking at the UK's 'quick house sale' sector.
The organization wanted to know whether this sector works well for home sellers and wanted to address some concerns about the risks to sellers in vulnerable situations, such as older people or those who need to clear debts and/or avoid repossession.
The investigation came about after other bodies raised concerns about some of the practices used by "quick sale" companies.
Gillian Guy, chief executive of Citizens Advice, says the charity has seen people left high and dry when certain companies have gone back on their promises.
She said: “Rogue operators must be tackled so that people can be confident they are dealing with a trustworthy, responsible company. ”
Practices that gave rise to concern included:
- Quick sale companies making misleading claims about the value of the property or the amount of discount being offered
- Companies reducing the offer price at the last minute after the seller is already committed to the sale
- Falsely claiming to be a cash buyer
- Companies making sellers sign contracts that prevent them from selling to other buyers
- Charging unexpected fees
What The OFT Found Out And What They Recommend
Overall, the Office of Fair Trading was satisfied with the practices of the majority of quick sale companies. Their report said:
"Quick house sales can be beneficial to home sellers who want a quick, guaranteed and hassle-free sale. Our study has shown this to be a dynamic and innovative sector where some businesses have modified their business models to try to offer a better service to home sellers."
However, the OFT report identified a number of practices that did not comply with the law and that fell short of the standards expected of reputable businesses in the sector.
“There is nothing inherently wrong with quick house-sales, in the same way that payday loans in principle are not illegal,” says Jonathan Smithers, deputy vice-president of the Law Society. “They are simply another type of arms-length transaction between a purchaser and seller.
“What is of concern is unregulated practices which take advantage of vulnerable consumers and do not allow consumers to deal with providers with confidence and certainty of the outcome. ”
The OFT report provided some guidance that you should consider if you're thinking about selling your home quickly. The main recommendations are:
- Consider the alternatives - Have you considered the alternatives to a quick house sale, such as using a traditional estate agent or, if you are finding it hard to keep up your mortgage payments, negotiating with your lender?
- Shop around - Always try to compare several quick sale companies before deciding which ones to approach. Always read websites and marketing material carefully to determine that it is a reputable and trustworthy company
- Check the small print carefully - For example, if the company refers to a 'list of investors' or to 'assigning' the agreement, this may indicate that it is (at least sometimes) a broker. If it talks about passing on details for a fee, this probably means it is a lead generator
The Office of Fair Trading report effectively found that the bad practices of some companies were damaging the industry as a whole. It said "home sellers may find it hard to engage confidently with the quick house sale process as a result of some practices in the sector. "
As well as providing guidance to sellers, the OFT has also written to almost 120 businesses in the sector to remind them of their legal obligations and to ask them to check that their practices are not unfair to consumers.
How To Sell Your House Quickly To PromptPropertyBuyersIf you've decided to sell to us, it's very straightforward. Here's our guide to the three-stage process.
1. Make an initial enquiry
First, you will need to get in touch with us. You can either call us on 0800 680 9158 or you can fill in our simple online form. It takes just a couple of minutes to complete and you'll need to provide details of your property and how quickly you need the sale to proceed.
We will then get in touch to gather some more information about your property. Then, we'll make you a cash offer in principle, subject to contract and valuation. At this stage we need you to be honest about your property and its condition, and you should tell us about anything that might affect the property value.
Remember that we will still buy your property regardless of its condition – we just need to know!
2. The property valuation and our formal offer
If you are interested in our "offer in principle" we will arrange for a formal appraisal of your property. This normally includes two valuations from local estate agents. Once we receive this appraisal, we will make you a formal offer subject to contract and a RICS survey.
When you decide to proceed, we'll instruct a RICS qualified surveyor to inspect your property (at our expense). We'll also instruct a licensed conveyancer / solicitor to act on your behalf. You can choose to use a lawyer from our panel (at our expense) or your own solicitor.
Once we receive the survey report and the Report on Title we will reconfirm our formal offer. If either of these documents raise any adverse issues then we may need to change our formal offer. You and your solicitor are free to inspect these reports should you wish.
At this stage you are still free to withdraw from the sale if you want to. We don't charge any fees and if you use a solicitor from our panel we will also pay their costs. If you use your own solicitor we'll make a contribution to this cost subject to the completion of the sale.
3. Exchange and completion
When you accept our reconfirmed formal offer, we will agree a completion date with you. We'll exchange contracts and, on completion, your solicitor will repay any loans or mortgages secured on the property and pay the balance into your bank account.
It really is that simple. Call us now on 0800 680 9158 to find out more & to sell your home fast for cash today.
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