'We buy any house' reviews: Are they really legit?
Selling your house is not only time consuming, but it's also frustrating. And that is enough reason to turn to a 'we buy any house' company. The thought of completing a sale in just 7 days is often irresistible.
Unfortunately, this industry struggles to shake off a bad image from companies that are fraudsters.
For this reason alone, it's important to know what to look out for in a legitimate quick house sale company so that you don't fall into the hands of scammers.
Here, we'll explain to you the following:
- The truth about the quick house sale industry
- Can you trust 'we buy any house' companies?
- How do quick house sale companies work?
The truth about the 'we buy any house' industry
The 'we buy any house' industry is full of scammers and fake cash buyers. That's why we're taking the step to guide you, so you know how to identify trustworthy buyers and avoid scammers.
There are hundreds of quick house sale companies in the UK with most of them offering to buy your property for cash along with the promise of completing the sale process fast. These companies will usually make an offer of no more than 85% of the actual value of your home. Some companies may even go lower.
Can you trust 'we buy any house' companies?
The 'we buy any house' industry is legitimate even though a government body does not regulate it, thus exposing consumers. Although most companies in this industry are genuine, the dealings are such that no company will buy your house for its full value.
The reason for this is simple...
Buyers will need to put in work before selling the property. But all is not lost. As a consumer, you can draw confidence from the fact that quick house sale companies that are serious about offering trusted service will subscribe to the National Association of Property Buyers (NAPB). This means registering with the Property Ombudsman (TPOS) too. As such, they must comply with their code of practice. Moreover, you'll have a platform for seeking redress in case there's a dispute.
Unfortunately, the industry has scammers too.
We have been putting together a list to help you spot the scammers because you must do due diligence when choosing a 'we buy any house' company.
How do quick house sale companies work?
Although they lack proper regulation, genuine 'we buy any house' companies will buy your house with this 5-step process:
- You first contact them, to which they respond with a cash offer
- If you accept the offer, they'll take care of all transactions at no cost to you
- A legit quick house sale company will cover the legal fees
- If you agree on the proposed completion date, they'll work towards completing the sale
- The sale will go through as scheduled and you'll receive money in your bank account