How Do Companies That Buy Your House Work: Pros vs Cons Of Selling Your Home To Companies That Buy Houses!

The majority of people sell their home in the conventional way. Which is to use an estate agent. However, there are a few people who for whatever reason use companies that buy houses instead. This is usually for the reason of a need to sell quickly.

If you are looking to sell your home in this way, how do companies that buy your house work? Plus what are the pros vs the cons of using one of these companies? Let’s take a look…

How do companies that buy your house work in brief:

Companies that buy houses work well if you’re a home owner who’s looking for a quick sale and you need cash fast. The process is normally very quick from accepting the offer to completion and you receiving the funds. There are no chain-sales and you don’t need to involve estate agents, which means no estate agent fees.

What are the pros and cons of selling to a professional home buyer?

Companies that buy houses work well for those home owners who are looking for a quick sale and need cash fast.

The process is normally very quick from accepting the offer through to completion and you receiving the funds.

There are no chains to contend with, you don’t need to involve estate agents (so no estate agent fees), but you will need to be prepared to accept a lower than market value offer to sell your house in this way.

Typically you’ll receive between 25-30% less for your property than if you were to sell it in the conventional way using an estate agent.

You will need to weigh-up the pros vs the cons of selling your home in this way before making a decision.

There are a number of pros of selling your house to a company that buys houses.

The pros of selling your home to a company that buys houses are as follows:

• If you need to sell your house very quickly, a company that buys houses can move very fast. This means you are able to sell your house quickly.
• If you need money as fast as possible, selling to this type of company is the quickest way to achieve this.
• You’ll achieve a speedy exchange and completion.
• There are no chains to hold up the process and the sale of your house is less likely to fall through.
• If your house is in need of a major repair job, and you either don’t have the money nor inclination to fix it up, companies that buy houses are used to fixing houses up so you won’t have to. But bear in mind the cost of the renovations will be taken of the value of your house.
• If your house has any structural problems, for example like subsidence, these types of house are difficult to sell in the conventional way. Many of the companies that buy houses are able to assess any structural problem and deal with it once they’ve purchased the property. Conventional buyers won’t usually be able to get a mortgage on a house with structural problems. This will make it difficult to sell the house in the conventional way.
• If you have other problems like knot-weed, this will prevent most normal purchases from obtaining a mortgage. Whereas companies that buy houses have other sources of funding to buy even this type of house.
• You won’t have to involve an estate agent and you’ll save on estate agents fees.
• You can sell your house to a company that buys house even in a challenging market. For example in the current market with Coronavirus-Covid-19 going on in the background.
• If you have a house that simply won’t sell, a company that buys house will more than likely still buy it.
• Its an extremely successful method to prevent repossession of a house.

What are the cons of selling your house to a company that buys houses?

As with anything, whilst there are pros, there will also be cons. But what are these when it comes to selling your house to a company that buys houses? Let’s take a look the the cons:

• You will need to be prepared to accept a much lower bid for your house, which can be anywhere between 25-30% below market value or less depending on the area and condition of the property.
• As with any industry or trade there are rogue companies that buy houses too. You need to therefore be careful to choose wisely. Not all companies that buy houses are bad and some even look to help home owners with their problems.

You will need to weigh up how the pros vs the cons of selling your home in this way. If the pros outweigh the cons, plus if you choose a reputable company, then it’s actually a good way to secure a house sale quickly.

How it works for companies that buy your house

If you are a home owners who’s looking for a quick sale and you need cash fast, then using a company that buys houses will work well for you. The process is normally very quick.

From you accepting the offer through to the completion of the contract and you receiving the funds happens very quickly. Selling your home in this way means there are no chains to contend with. Plus you don’t need to involve estate agents (so no estate agent fees).

However, the main drawback of selling your house in this way is that you will need to be prepared to accept an offer that will be lower than market value.

Typically you’ll receive between 25-30% less for your property than if you were to sell it in the conventional way using an estate agent. You will need to weigh-up the pros vs the cons of selling your home in this way before making a decision.

There is an alternative way to sell your house quickly to a company that buys houses. If you are interested to find out more, please contact us to discuss your situation.

We always like to work on a win-win scenario. This means that the deal we strike with you has to be as much of a win for you, as it is for us. Otherwise it simply doesn’t work.

Whilst we are happy to buy your house for cash and offer you a below market value offer, as describe above, there are other alternatives to this solution. Please contact us for more information on our contact us page.

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