Recently, there has been an increase in the number of service providers in the ‘Sell Your House Fast’ sector. It is often difficult and confusing to choose a company who will deliver a quick home sale and one that will value your home fairly.
Why does a good home valuation matter?
There are many factors to consider when selling your home quickly and achieving a good home valuation is an important step of the sale process. A poor home valuation can cost a homeowner tens of thousands without the property owner realising how much they stand to loose.
Sell your house fast but at what cost?
Here are 4 of the most common home valuation tactics quick home buyer companies use.
# 1. A quick property sale company will send out one of their agents to view and value your home.
• The agent is not a qualified surveyor in which the home valuation may result in a poor monetary appraisal.
• The company may come back with an offer of 90% on their valuation appraisal, however, realistically the company would be purchasing the property closer to 60 to 70% of its true value.
• Unethical home buying companies use such tactics to secure more sales without the homeowner being aware of the situation.
• One way to spot such companies is to look for claims such as; we will sell your home for 100% of the market value.
If home buying companies could truly offer 95-100% for your property, there would be no need for estate agents. But this is not the case!
# 2. A home buying company will send out one of their property consultants and may want to charge a few hundred pounds for doing so.
• Such property consultants are not qualified surveyors and its employers are not interested in selling your home quickly but merely in collecting a fee for an inexpert valuation.
• This may result is a poor valuation, an unnecessary financial expense for the valuation, and a lot of wasted time trying to sell your property quickly.
# 3. An agent will come out to value your home; the ‘Quick Sale Company’ will offer a very competitive or close to market value offer, and drop the price last minute or on the appointed day of exchange.
• Sadly, this is common practice by unethical home buying companies trying to pull a fast one. There are many reported cases of homeowners being trapped or forced to drop their price at the last minute.
• Why? Homeowners locked in a chain to purchase their next property have no alternative but to take the drop or break the chain and lose their deposit.
• Pay extra attention the details in the agreement that such companies may ask you to sign. SellPropertyFastCash.co.uk recommend that you never sign a document such as an RX1 that may enable a homebuyer company to enter a restriction on your home. You can find more information on this by visiting notices, restrictions and the protection of third party interests on the Landregistry.gov website.
# 4. A home buying company will send out a certified RICS surveyor that is independent from its company. There are home buying companies that charge for such services and some that do not.
• If you are looking for a quick home sale, SellPropertyFastCash.co.uk recommend that you always opt for property companies that uses an independent and certified RICS surveyors.
• At SellPropertyFastCash.co.uk, we use independent and certified RICS surveyors on every quick home sale we process. We do not charge for valuations, quotes or anything else we may have left out. Our services are genuinely 100% Free!
Why is it important to choose the right home buyer company when selling your home quickly?
It is very important to choose the right company to sell your home quickly for a number of reasons, some of which we have outlined above.
There are many homeowners who have found themselves having to go back to estate agents after months of waiting, all because they have chosen the wrong home buyer to sell their property quickly. So be sure you ask a lot of questions and never enter an agreement that might tie you in for a long period of time.
• Don’t pay for a home valuation unless it’s carried out by a professional and accredited RICS surveyor.
• Don’t be fooled by companies offering 95-100% for your home. They don’t exist!
We hope that this post will help to provide further knowledge about unethical companies and also help in your decision making process when choosing the right agents to sell your house fast. If you have any further questions about a quick home sale, our experienced home buyers team are available Monday to Friday by calling 0845 459 7088.
By John Gasior