Choosing a Property Buying Company
There are two ways to sell a property – either on the open market or privately. If selling on the open market, this usually involves working with an estate agent, instructing them to create marketing materials, and listing on property portals such as Rightmove and Zoopla. This takes time and involves paying an estate agent a fee. Alternatively, property sellers can sell cash to a private buyer such as Serene Homes and complete on the sale in as little as 7 days.
More information on the differences between selling on the open market and alternatively to a private cash buyer can be found on our Guide to Selling Your House Privately page.
How Do I Choose a Property Buying Company?
There are a number of key attributes that any property seller should look for when choosing a property buying company:
Many companies will advertise themselves as cash-buying companies, but they do not actually have their own cash available. Usually, such companies will match property sellers with investors, and finding an investor to buy a property takes time, even if the investor agrees to pay cash. It is therefore very important to understand whether the companies that buy houses actually have funding and are using their own cash, which is the fastest route to a house sale, or whether they need to find an external investor.
In order for a house cash buying company to be able to complete the purchase of a property in a short timeframe, it is imperative that the company has experience. If a company has just been set up and those running the company have no experience, then the process of completing the purchase of a property will most likely be much longer. The team at Serene Homes has decades of property experience having bought and sold thousands of properties around the country.
One of the main reasons why people choose property buying companies is time. Following the traditional route of using an estate agent can take considerable time and there are a number of steps involved such as finding potential buyers and undertaking viewings. This can all be avoided by opting to choose a cash-buying company. However, only those companies that have their own funding in place and have the required experience in buying properties for cash will be able to complete the sale in a short timeframe. Serene Homes can complete a house sale in as little as 7 days.
Before choosing which cash-buying property company to work with, it is imperative that fees are closely understood. Legitimate cash buying companies should cover all fees on behalf of property sellers and at no point should a house or flat seller be required to pay any fees. This includes the situation where the house seller decides to pull out for any reason.
Serene Homes, as one of the UK’s leading cash buying companies, has its own funding in place, has the required experience as a team, and can complete the purchase of a property in as little as 7 days. There are also absolutely no fees involved.
What Are the Main Advantages with Using a Property Buying Company?
Serene Homes offers a number of advantages to people who are looking to sell their property quickly. Firstly, every person who contacts Serene Homes and accepts a cash offer for their property, will be offered a free valuation. Therefore, regardless of the outcome, and as a minimum part of the Serene Homes service, all customers will have been given some very useful feedback on how much their property is actually worth.
More information on how to get a free valuation can be found on our property valuation page.
Another advantage of using a cash buying company such as Serene Homes is that all the hassle of finding a buyer is avoided. In order for someone to buy a property through the traditional estate agent route, they will need to view the property in order to make a decision. And it usually requires a large number of viewings before someone makes an offer on a property. An offer which is not guaranteed so there is the risk of the sale falling through. Even after months of legal work has been done.
Further to this, customers of Serene Homes can feel comfortable that strict deadlines can be met. So, if someone contacts the Serene Homes team on Monday, for example, then they can feel rest assured that the survey will be completed, the legal process complete and the sale tied off completely with full monies received by the following Monday (if required). Serene Homes guarantees every offer following the survey so there is never any chance of the house sale falling through.
More information on the advantages of selling a property fast can be found on our How Long Does It Take To Sell A House page.
Do I Get Tied in at Any Point Using a Property Buying Company?
There are two steps involved in the purchase of any property – exchange and completion. The legal process in the UK does not tie property buyers in until an exchange of contracts is complete. Exchange is the point in the buying and selling process at which the buyer’s and seller’s solicitors or conveyancers physically exchange the legal contract of sale for the property. Most property transactions exchange with a deposit of usually 10% of the agreed purchase price. Completion occurs when everything is complete, and the balance of monies is sent across.
Up until exchange, a house or flat buyer can pull out at any time. Even if the price has been agreed upon and legal work has been done, the property buyer is free to pull out without any legal recourse. Most likely monies will have been spent on surveys and legal fees so any outstanding sum owed to the solicitors will need to be settled.
The process that Serene Homes offers is the same except there are no fees involved. So, if for example, somebody contacts the Serene Homes team, then changes their mind throughout the process, they are free to walk away having been subjected to no fees. They will also not owe any fees. Only when an exchange of contracts has been undertaken is the property seller tied in, and this is exactly the same as with any standard property sale in the UK.
Contact our friendly team to understand why Serene Homes offers a fantastic solution to people requiring a quick house sale.
Post Tagsselling house for cash