FAQ's

1. Time

1.1 How long does the process take?

We can completely work around your timescales. Properties can be purchased almost immediately, but the normal time it takes for the cash to hit your account is between 7 to 28 days.

1.2 How long to receive a cash offer?

We would aim to make you an indicative cash offer within 24 hours of the initial phone call.

1.3 How long before I get my cash?

The cash would hit your account immediately upon completion. Or alternatively, we could even pay by you cheque on completion.

1.4 Can you be flexible on timescales?

Of course. We are experts in property completions and realise that occasionally something comes up which means the seller needs more time. We would always work to the completion date that suits you.

1.5 What if I am not in a rush?

Many sellers are in chains and certainty that their sale is proceeding is of upmost importance to them. Quick Property Buyer understands that chains can sometimes last a long time and will work to any timescales as required by you.

2. Price

2.1 What’s the highest price you will pay me?

Each property will be different, but we can pay up to a maximum of 85% of the market valuation.

2.2 Could the price ever change?

We will need to pay for a survey to check the property does not have any structural problems. If serious issues do ever come up, this could affect the amount we could pay. But if the amount offered ever did change because of the survey, you can walk away without any cost to yourself. In such situations, we would cover all the costs.

2.3 How does the price compare to selling on the open market?

In order to get a guaranteed cash sale within 7 to 28 days, generally the amount received may be lower than you may have received on the open market.

There are circumstances however when the amount you receive could be higher than what you would have received through an estate agent especially if the market is dropping and especially if the property would have been on the market for a long time. This is because sellers in the open market get less cash because of

  • (i) Discounts off the asking price (typically 5% more)
  • (ii) Sometimes agreed prices reduce following post survey negotiation
  • (iii) Estate Agents Fees (2% plus VAT)
  • (iiii) Legal Fees (£1,000 plus VAT)
  • (v) Search Fees (£1,500)
  • (vi) Mortgage Payments while on the market
  • (vii) Utility Bills while on the market
  • (viii) Clearance costs


2.4 Do you send someone out to value the property before making a cash offer?

No. We do not need to come to your property to make you an offer. We base our offer on online comparables and data.

2.5 Do you instruct a survey?

If you accept our cash offer, we would then pay for a valuer to check there are no structural issues with the property.

2.6 Is the value based on the existing asking price?

We calculate the estimated value by looking at the sold prices that have been obtained in your area, rather than simply the asking prices advertised by estate agents. Estate agents can often increase the market value by 5% to 10% in order to get the actual listing from sellers.

2.7 What happens if the survey comes in lower than expected?

If the survey comes in lower than expected, this may affect the price we could pay you. In such instances, you could walk away without any cost to yourself. We would cover the full cost of the survey and other costs.

2.8 How is my mortgage paid off?

Your solicitor would pay off your mortgage from our cash on completion. In order to do so, the solicitor would need to get a redemption statement for the mortgage company to know how much they are owed.

3. Property

3.1 Which types of property do you buy?

Quick Property Buyer will consider any property in the UK.

3.2 Any condition?

Yes.

3.3 Any location?

Yes.

3.4 Ex Local Authority?

Yes.

3.5 Tenanted Properties?

Yes. We can make an offer to you if there are tenants in your property. If the offer is accepted, we would ask you serve them notice to that the property is vacant ion completion.

3.6 Repossession?

Yes, but do contact us as soon as possible. It can be stressful facing repossession. We would immediately contact the mortgage company to endeavor to stop the repossession order. The mortgagee would need to be comfortable that the amount we would pay you would clear the arrears.

3.7 In a chain?

Yes many sellers may be in a position where they are in a chain or the chain may crater because a buyer has pulled out. We can work with your individual timescales so that you have the reassurance that the chain will not collapse because of your property sale.

3.8 Retirement

Yes.

3.9 Short lease

Yes, although the length of the lease would affect how much we could pay.

3.10 Already on with an estate agent?

Yes. As our service is free, this means that you would could save yourself thousands of pounds by not having to pay estate agents fees.

3.11 Any property Quick Property Buyer cannot buy?

Quick Property Buyer may not be able to buy your property if it is not able to get a mortgage over it, as that means we may not be able to sell it at a later date, or if there are other reasons that may make it problematic to sell. Also we may have issues in buying if it is difficult to ascertain market value. In such cases, we should be able to identify these issues within the first 24 hours, so that your time is not wasted.

4. The Quick Property Buying Industry

4.1 Why do people use the industry?

There are many reasons clients want to use the services of a quick property buying company and use us. Please see the home screen for possible scenarios.

4.2 Do you offer a rent back scheme?

Afraid not. You need to be a member of the Financial Conduct Authority (FCA) to do this, so be careful of any company that offers this if they are not a member.

4.3 Are you regulated?

Buying property in the UK is an unregulated activity so you may want to run a mile if someone pretends they are. We are members of various trade bodies however including the Property Ombudsman.




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