Companies that offer to buy your house for cash are becoming increasingly common these days, and they certainly offer a solid alternative to the hassle of selling through an estate agent. There have been numerous concerns however, that not all of these companies are reliable or trustworthy, as highlighted by the Office of Fair Trading. As a result, there are a few things that you need to check with a company before you begin any proceedings with them.
Paying Hidden Fees
The first concern is the fees. Make absolutely sure before you enter any kind of agreement that you know what you’re going to be charged for the service. In a worst case scenario, you may end up losing money without actually selling your property. Good companies will make you aware of any fees, and some, such as Harry Rose Homes, do not charge fees at all.
Last Minute Price Drops
Another big worry is companies not sticking to the price they offer. Too often you’ll be given a price, get everything prepared for the sale, only to find that the price is dropped just before the transaction goes through. This is unacceptable, and you should ensure that you have a sound contract to avoid any problems.
Slow and Difficult Processes
Speed is often very important to sellers using this kind of service, which is why it can be significantly detrimental when a company drags its heels. It’s hard for a time frame to be guaranteed, but it’s a good idea to check testimonials and reviews to find out if they really can buy your home quickly or not.
Brokers and Middlemen
Finally, one of the other traps people fall into, which links to the first point, is that there are many many brokers out there. While lots of them are perfectly reputable, there are some who mislead sellers into thinking that they are cash buyers, when in actual fact they are only acting on behalf of other companies, or are even little more than a middleman.
Selling your house can be stressful, which is the main reason that people choose to use house buying companies. Don’t make things even more stressful by going with an disreputable business though; they’re far more hassle than they’re worth. Do your research and you’ll be much better off.