Should You Use A Property Buying Company To Speed Up Your House Sale?
For many first-time homeowners, the stress of securing a house is enough to make you never want to experience the mortgage and purchasing process ever again – especially in an age where the ability to buy a first home is harder than it has ever been.
It isn’t just first-time buyers, however, who can empathise with the weeks or months of anxiety that are involved in the purchase of a property. For many, the endless ritual of providing a substantial deposit, alongside numerous proofs of earnings and unexpected fees can lead to a situation where it can feel the seller and lender both are trying to make life as difficult as possible. But why is this?
Simply put, for any vendor looking to sell a home, the buyers’ need for a bargain purchase is absolutely secondary to their need to turn over a profit on the home within which they have resided. This is especially true in cases where the need to sell has appeared unexpectedly – possibly as a result of a new job opportunity far away, or even due to a family emergency that requires them to relocate.
Those in such positions often face an uncertain immediate future, devoid of investment security and left to deal with agencies who may not be willing to act with the urgency required for them to move on with their lives.
While there are many trustworthy agencies operating in the UK today, those who are less savvy in their knowledge of the property industry may be under the impression that using an estate agent to sell is their only option. Unfortunately, the traditional house-buying process is not one that is known to be completed in haste.
As you are dealing with multiple parties including estate agents, solicitors or conveyancers and the land registry – not including your need to maintain your home in showroom condition for viewings – the process can be exhausting for those who work full time or have a family to take care of.
Luckily, there is another way for those who need to sell their home fast, and this is via property buying companies.
Property buying companies operate by offering a seller the ability to sell their home in as little as two weeks from first point of contact, without having to jump through the loopholes so often associated with the traditional house buying process.
In times when buyers know that a seller is in need of a quick sale, it is, sadly, a common issue for them to feel coerced by an estate agent to lower their asking price in order to facilitate a sale, allowing the purchase to complete and helping an estate agent to take their 2.5%-5% cut of the profits.