Using a Quick House Sale Company – the Upside & the Downside
With a stalled property market and continued mortgage shortages many more people are looking to Sell House Fast companies to bring about a Quick Home Sale which will allow them to move on in life. But with a surfeit of such Sell Home Fast companies featuring on every web search how does a vendor choose. Here are some tips to help you through the Sell House Fast jungle.
1. Beware Sell Home Fast companies who charge a valuation fee, particularly if it is a hefty fee. A firm making money from valuations might not truly be interested in purchasing your house and may make a very low offer.
2. Always check around. Some Quick Home Sale companies offer as little as 60% of the valuation of your house, others usually offer up to 80%. Only you can decide what is enough but it pays to call a good few of organisations, because your house is almost certainly your most valuable asset so you need to get the best deal possible.
3. Always hire your own solicitor in the selling of your house, he will act exclusively in your interests and there can be no conflict of interest.
4. Obtain a firm commitment to purchase in writing from your chosen Quick Home Sale firm. This will lessen your chances of having the offer price reduced right at the last minute.
5. Find out how the Sell House Fast firm intends to fund your purchase. Will they be counting on a bank overdraft? If so what guarantees are there that the bank finance will be ready and available within your desired timescale? This is particularly important in the current banking climate.
6. Ask how they will value your house. It’s all very well getting an offer of 90% of value but if the company then places an unfairly low value on your house then the reality may be much less.
You should only think about using a Sell House Fast company if the speed of the sale is more important to you than achieving the best price. Bear in mind these companies are in businessto make profits and their core source of income comes from purchasing your house for significantly less than its present value. They also have not insignificant costs to cover, such as marketing costs, legal fees, financing costs, valuation and operational costs including office expenses and staff salaries. All of these are covered out of the discount you are giving them, and this is the main reason why it is impossible for any Quick Home Sale company to sensibly offer more than about 80% of what you would get for the house if you sold it in the traditional way.
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