Within any industry, you will find companies that don’t always act in the best interests of their customers.
We make every effort to treat everyone who requests a valuation from us, regardless of whether they go on to sell to us, fairly and professionally, and so have put together this brief list of things you should watch out for when talking to anyone about selling your property.
Watch out for companies that are not genuine cash buyers.
We are one of very few genuine ‘cash buyers’ in the market place. There are a large number of companies out there, however, that will make claim to be a cash buyer, while really being just middle men or agents who will sell your details on to others who have funds to buy with.
Make sure you are dealing with a genuine cash buyer who is in a position to complete on your property quickly, and not just an investment club or agent. Ask for proof of recent properties they have purchased from other customers along with contact details for the sellers so you can verify the deal went through without any holdups.
Watch out for companies that make fees or charges.
We do not charge any fees, of any kind. There are companies in the industry, however, that aim to make money on fees. If a company is asking for any upfront costs, including survey or valuations fees, then be wary. If they are a genuine cash buyer of property they will not expect you to pay out any monies.Always check before you get involved to see if there are fees involved.
Watch out for companies offering full market value.
Beware of any company claiming to offer up to 100% of ‘market value’ for your property. As with any business, a property buyer needs to factor in to make a profit of some kind, and this simply would not be possible if they were paying full market prices for properties. Unless you are dealing with a charitable organisation, any company claiming to pay you ‘full market value’ should set alarm bells ringing.
Watch out for business practices that seem not quite right.
When you’re selling your property, you deserve to receive a fair price and should expect a swift transaction. Watch out for:
Undue haste in making an offer, or for offer prices that seem surprisingly attractive but are based on limited knowledge of your situation and property. The chances are that offers of this kind will be there simply to lure you in, and will be reduced as you get close to completion.
Valuations that are not being carried out by either an estate agent local to your property or by RICS qualified surveyors. Anybody else cannot be counted on to fully recognise all factors in the property’s value. When an owner accepts our provisional offer, we arrange for two local, independent valuing agents to visit the property and complete a comprehensive property appraisal and valuation. Our formal offer is then based on these findings.
Unexpectedly high offer price. You should realistically expect a property buying company to offer no more than 85% of the full market value for a quick sale. On the other hand, any offer lower than 70% of the full market value is probably unfair.