When considering using a professional home buyer company, there are several factors to take into account. Here is a guide on what to consider, including advantages and disadvantages, and tips on how to review their service:
Advantages of using a professional home buyer company:
1. Quick sale: A professional home buyer company can often complete a sale much faster than a traditional property sale. This can be beneficial if you need to sell your home quickly, such as in the case of a job relocation, financial difficulties or due to repossession.
2. No need for repairs or renovations: Professional home buyer companies typically purchase properties in their current condition, meaning that you don’t have to spend time and money on repairs or renovations before selling.
3. Certainty of sale: Unlike a traditional property sale, where the sale is not guaranteed until contracts are exchanged, using a professional home buyer company can offer you the certainty of a sale without any risk of the sale falling through.
4. No estate agent fees: When selling through a professional home buyer company, there are no estate agent fees to pay, which can save you a significant amount of money.
Disadvantages of using a professional home buyer company:
1. Lower sale price: Professional home buyer companies may offer you a lower sale price than you could achieve on the open market, as they will take into account the cost of buying your property, any necessary repairs or renovations, and their profit margin.
2. Limited room for negotiation: As the sale price is typically non-negotiable with a professional home buyer company, you may not be able to achieve the best possible sale price for your property.
3. Limited market: Using a professional home buyer company may limit the pool of potential buyers for your property, as not all buyers will be willing to use a professional home buyer company to purchase a property.
Tips on how to review a professional home buyer company:
1. Check their credentials: Ensure that the company is registered with the relevant industry bodies, such as The Property Ombudsman or the National Association of Property Buyers, and has a good reputation.
2. Read reviews: Check online reviews of the company to get an idea of other sellers’ experiences with them.
3. Get multiple quotes: Obtain quotes from several professional home buyer companies to compare prices and services. You can get a quote from Ask Susan by completing the form found on this page.
4. Check the terms of the sale: Read the terms of the sale carefully, including any fees or charges that may apply.
5. Seek professional advice: Consider seeking professional advice from a solicitor or financial advisor before proceeding with a sale to a professional home buyer company, to ensure that it is the right decision for you.
Best Wishes, Susan