On average, it takes traditional estate agencies between 6 to 9 months to complete a house purchase, yet for many people that simply isn’t quick enough.
You’ve spotted your dream home and know that it will be snapped up by other buyers, your child is starting a new school in September and you want to be in the right catchment area, you’ve taken the decision to retire and would like to downsize as soon as possible, and the list continues.
Whether it’s any of these reasons, emigration, divorce or financial difficulties, it’s likely that at some point in your life, you’ll want to sell quickly.
There’s no wonder then that over the last decade, house buying companies in the UK have grown in stature as the new way to sell your property, fuss-free and fast.
Growth in ‘fast-sell’ estate agents evident
There are many house buying companies which have revolutionised the time it takes for your property to be sold. Fast house buying experts Goodmove.co.uk for example, have been known to provide a cash offer in a staggering 24 hours, helping you move away from high street estate agents and shop window advertising, through to selling your property online.
At one time, homeowners were reluctant to use property buying companies, yet now they are realising that having no viewings, no sales boards and no house chains to worry about – just selling your house for cash, is an attractive prospect.
Many companies say they will buy your house, regardless of the condition, on the proviso that the property is located in the United Kingdom.
Large fees discouraging selling through estate agents
After going through the often difficult process of getting a mortgage initially, homeowners are reluctant to sell again due to the ever-growing fees that come with moving on.
Out of these fees, the biggest cost for sellers is their estate agency fees. High street estate agencies typically charge anywhere between one per cent and three per cent commission, plus the added VAT, on the sale price.
With the average house price in the UK being over £200,000, you’ll end up paying anything upwards of £4,000 just for the privilege of selling your home. With these spiralling figures, it’s no surprise that sellers are looking to cut costs where they can.
This is where property buying companies seem to really come into their own. Many companies offer a free valuation which saves the seller money, before providing their cash offer. There are also companies who pay all the seller fees, inclusive of the legal fees, saving the homeowner large sums.
With an average fast house sale completed within 3 weeks and companies promising none of the long process that comes with selling through a traditional estate agency, it looks like this selling trend is set to become increasingly popular.