Many homeowners face the situation where they have to sell their house fast and consider using “quick house sale” companies as a desperate measure to get out of their financial struggles. These companies often offer to buy property in less than seven days or find a potential buyer instantly that can pay the full amount of the house usually in cash but at a discounted price from the actual market value.
Quick house sale companies also known as the property or house buying companies have become a popular way to sell house fast. Selling house by going through a traditional route via an estate agent is not always a practical option for many homeowners. They are advantageous to homeowners who need to get cash in a hurry. For example, those who want to:
• dispose of inherited property
• avoid or sort out financial problems
• Move into another home
• relocate due to age or health reasons
• sell as a result of divorce or relationship breakdown
• emigrate because of job or kids
• Move because of a problem property, neighbor, or area
However, there are disadvantages of using “quick house sale” companies including:
• Trusting into a company which is not regulated. These companies agree to buy your house but reduce the price at the last moment.
• The fee structure is not always explained properly to the clients.
• The companies can make false house valuations.
• The contracts made by some illegitimate companies bound their clients by preventing them from selling their property to another buyer who comes up with a better offer.
Should you opt for a Quick House Sale company?
To sell using a quick house sale company or not depends on your unique situation. If you wish to sell house fast regardless of getting a bargained price, then these companies are your best option. However, be prepared to receive 75% of the actual property value.
Substitute of Quick House Sale:
The conventional route of going through the sale proceedings via an estate agent is an ideal way to sell the house. You might have to drop the price a little lower than the actual value but it will be a lot less than the 25% discount that you will be giving to quick house sale companies.
If you are selling your house fast because of financial challenges, you can discuss with your lender about your options. If you are facing debt, the companies can change the way you pay your mortgages or maybe reduce your monthly repayments.
And in the end, if you do go for a quick house sale company then makes sure to check the company’s credentials as well as read the terms of agreement carefully. Take everything into writing and only sign the agreement once all legal checks are done.