100% guarantee sales, we are the best quick house sale companies. These are the things which you might have heard while dealing with a quick house sale company. But are they able to offer you what they are promising? According to a survey quick house sale companies only pay up to 85% of the market value of your property! Are you wondering what should I do or where should I go to sell my house quickly? Nowadays, you have a lot of options when it comes to selling your house. We understand homebuyers need to sell their home quickly and easily. Several people are choosing quick house sale companies to solve their purpose.
However, the question arises here: are they really helpful for the homebuyers who are actually in need of urgent money? As the market is filled with homeowners who are desperate to sell their houses quickly for cash but some homeowners are even ready to accept 10%-20% less of the market value of their house. Several homeowners look for quick house sale companies. For the fast cash as these companies claim very bold sentences for the fast cash! Yet, what’s the hype is all about? Or is it ok to work with them? Well, we have covered some needs to know for you that contain some real catches to ignore!
Who are quick house sale companies?
Here, the name is telling almost everything. Quick house sale companies are those who are willing to buy your house and in return, you will get fast cash. They have a pet name as well “We buy any house”. These companies are extremely different from real estate agents who take a long time to find a buyer for you. These companies find a third-party cash buyer to sell your home. On the other hand, sometimes the company itself buys the home directly from you and offers you some cash in return.
However, in both of the statuses, you have to accept the discount rate for your property, somewhere around 10% to 25% which is lower than the market value. This is not a surprise for you as they are making a profit from your house and that’s the real catch I guess!
Sell quick companies highlights and challenges
While searching for these companies I figured out that these companies are promising and offering their best. It is no surprise that they can offer you instant cash. Let us know the highlights and challenges of the quick house sell companies:
Highlights
- We buy any house companies can solve your purpose by offering you instant cash.
- A suitable solution for those who urgently need cash and struggling to sell their homes in different ways.
- Excellent opportunity to clear your those who need to clear their debts.
- Helps to solve financial issues quickly
- Fast way of clearing assets to access cash.
Challenges
- The big breakdown is that you have to agree is the lower price of your property that is 10%-20% of the market value.
- The fee formation is very unclear, chances are you will get confused and you might end up paying more than awaited.
- Chances are, that you will get a false evaluation of your property.
- Several companies promise to pay you a price and then reduced the price at the last minute which is known as gazumping.
- Several companies have weird policies like you cannot be supposed to accept the other offers from anyone else. There is a possibility that you might miss a better deal.
Points you need to consider while dealing with ‘we buy any house’
- Do not trust the property calculations of the quick house sale companies. Do your own calculations. In some cases, the sellers have reported that they have lost up the 50% of their homes in quick sale companies.
- For the safer side, ask the company how they conduct the property calculation. Talk to them on the phone and then they will definitely send someone to evaluate your property.
And give you a real evaluation accordingly. Lastly, check for their policies before signing their contract.
- These companies offer free services and most of the time you have seen no hidden charges. No legal cost but this is not even true as they add up every little cost when offering you an offer.
- Research by yourself as you will be able to find a couple of options that can be good for you in terms of pricing.
- You must know that quick house sale companies are not governed. So that is why the homeowners are not even protected. Therefore, it’s crucial to work with a company that comes under The National Association of Property Buyers (NAPB). Remember, before dealing with any quick house sale company always make sure that you have done research from your end for the safe side.
- It has been seen that a couple of times these companies have been found out by doing some unfair practices where the customers have lost thousands of dollars.
- As we have already discussed, quick home sale companies either buy your home directly or find the buyers for your house. However, if you buy directly, then you will get a low price. However, if they are finding a seller for you, then you can even get a higher price.
- Make sure that you are reading their so-called contracts carefully. After reading their contract, you can take further steps.
- Several quick house-selling companies have their own legal advisor. However, it can also happen that they force you to use them but do not use them and hire your own legal advisor so that you will get the most genuine advice.
- Ask questions if you feel confused because this is the best way to get your answer. And if you didn’t feel satisfied with their answers, then it’s better to walk off.
Top questions you can ask from sell house fast London
Well, there are a couple of questions that you can ask from the quick house sale companies. We have written down some top questions that will help you to know them better.
- Ask the company how much you will get in both of the situations. Where the company finds a buyer for you or where the company is buying the house directly from you.
- What fees do you need to pay even if the selling process doesn’t even complete?
- Ask them how they do the property valuation.
- How long they will take to pay you the whole amount.
- How long will take to sell your house?
- Are they a member of any redness schemes? However, several companies show they are a member of redress schemes but in reality, they are not.
Sell my house fast for cash companies vs real estate agents
| Estate Agent | Quick Sale Cash Buyer Company | Real Estate Agents |
| Sale Price | More likely to achieve full market value price i.e. you’ll get more money. | 75%–90% of the market value. |
| Service Cost | 1-3% of sale price + Convincing fees. | Typically, they market “no fees”, but I feel that’s misleading because the fees are taken into consideration when making the BMV (below market value) offer. |
| Time | Minimum of 3 months. Complications are more likely, therefore so delay, particularly if the market is slow and/or you’re in the middle of a chain. | As rapidly as one to two weeks. |
| Regulated | Legally required to be a member of one of three compulsory redress schemes. | Currently, no requirements to be regulated. |
| Effort | Can entail haggling/negotiating and arranging appropriate times for viewings. | Minimum effort. |
Replacements of best quick house sale companies
- Real estate agents like Real Estate Diary, can be good options for you, especially when you want to sell an ugly or needless quick as real estate agents are able to get you better rates than quick house sale companies. Therefore, if you are not in a hurry, then working with a real estate agent can be a wise decision for you.
- If you are facing some difficult situation like when you are paying a high interest rate and your ultimate goal is to get relief by paying off your liabilities, then contacting your broker/lender can help you in the best possible way. Who knows, you might even get the better option from them!
- Before going to a quick house sale company is worth giving a shot to local real estate agents yes, they might offer you a deal of “quick house sales”. Hence, they have the access to the housing market or maybe they have several clients for your house!
Conclusion:-
Well, if you think you are okay to get the 85% of your property value then you can consider working with “we buy any house companies”. As the only benefit, you can get could fast cash. However, you have several options as well as a Real Estate Diary now; they have the best access to the housing market and maybe they can offer you some superb deals!
On the other hand, if you are facing a tough situation related to finance then taking some professional help is better than selling your house with we buy any house companies. However, if you are considering them make sure that they are a member of any redness schemes or not? Do your own research to find out the best option for you! However, our recommendations would be to go with some other options even if it’s taking long as good things come to only those people who wait with patience!!
Frequently Asked Questions:
What does a quick sale on a house mean?
Quick sale on a house means selling a property in its defaulted mortgages pre-foreclosure period. Pre-foreclosure is the time between the foreclosure sale and the mortgage default and is a lender’s grace period for borrowers. Speedy sales of houses in pre-foreclosure are known as quick sales.
How do you do a quick sale on your house?
For a quick sale of my house, I firstly choose an experienced real estate agent, check curb appeal, register my property online, make minor repairs, outline the USP of the house, and ensure flexibility, and so on.
How quickly can a house sale go through?
In general, it takes around 6 months to sell a house in which two months remain for the homeowner to find their ideal property, 2-3 months from an agreement to close, and a month to finalize the move.
What is a quick sale offer?
The quick sale takes place whenever a property is sold at a price that is lower as compared to the amount the homeowner owes on the mortgage and the mortgage lender agrees to pay a short payoff. The distinction with the short sale is that the homeowner is selling the property but the lender has finally approved any offers made.
