In 2010 the average time it took to sell a house in the UK was between 4-5 months, with growing concerns about the housing market, general economic stagnation and the difficulty first time buyers have securing a mortgage from lenders, this time is only likely to increase throughout the course of 2011. While time may be a luxury that some home owners have, others may find that selling their house quickly is a benefit they’re willing to pay for.
Who could benefit from using Fast House Sell Companies?
Traditionally quick-sale, cash buys were seen as a solution for those burdened with increasing debt, slipping into mortgage arrears and facing repossession. While this remains true, with the high street property market still struggling, using quick-sale solutions could become more attractive to other homeowners looking for a quick sell. For those couples who have divorced or relations dealing with bereavement, fast house selling can ensure a painless, stress-free process that releases the equity of the property without the dragged out sale associated with using an estate agent. A changing financial or employment situation, or relocation, could also mean that a fast sale is imperative for your house: something that using traditional methods of property sales just can’t guarantee.
What are the key benefits of selling my property through a fast house sell firm?
The clue is in the name. Selling your house through a fast-sell scheme offers you just that: the quick, guaranteed sale of your house. A quote for your house could be received on the same day of your application, and if you accept an offer received the whole sale could take less than a month. This benefit is something that you will pay for; in return for a guaranteed, quick, cash-sale you will be selling your property at around 70-75% of its market value. Despite this price-drop, one of the benefits of selling your home through a fast-sell firm is that you avoid some of the charges associated with selling a house: there are no estate agent fees, no legal fees and no survey fees. Thanks to price comparison websites, companies offering cash for property are still operating in a competitive market, therefore you could be pleasantly surprised by the offers you receive. Moreover this process if fast and hassle-free, there is no need to refurbish your home, there is no property-chain so there isn’t the worry of your sale falling through and once completed the cash will be quickly deposited into your bank.
What are the drawbacks of a quick cash sale?
Releasing the equity of your property quickly, unfortunately, comes at a price. You are likely to receive a cash offer that is 70-75% of the market value of your house. On the face of it this seems like a lot but if you consider the speed of the service, the benefits of receiving cash from the sale and the fact that you avoid estate agent and solicitor fees, the benefits of a cash sale could well overshadow the difference in price. Furthermore you could lose more money in the long run waiting for your house to sell in an unpredictable market.
What other things should I bear in mind when considering a fast sale for my house?
The first is whether or not a fast, cash sale is what you are really looking for. In reality you will be selling your house for less than market value, is the speed of sale that important to you? If yes, then it is important to be smart with your decisions, some buyers offering cash and a fast sale may take advantage of people feeling pressured by rising debt by putting forward extremely low offers or reducing their offer through the process. Using comparison websites is the best way to find a reputable cash buyer to sell your house quickly for cash.