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An Alternative To Using An Estate Agent To Sell Your Property
By: Mr Hanna [See Author’s Biography]
Traditionally, anyone with a house to sell in the U.K. would use an Estate
Agent. As they were ranked 2nd in a Radio 4 poll of “least respected workers” (M.P.’s
were 1st!), for many people they are seen as a necessary evil.
A small minority of people manage to sell their house privately by doing their
own advertising and putting up their own For Sale board, but as their property
does not appear in the Estate Agent’s press adverts or websites, this is very
much a hit and miss affair.
Even when a sale is secured, the legal system in England & Wales means that
until contracts are exchanged – typically many weeks later – the sale can fall
through. In fact one in three agreed sales do not complete, meaning that the
sale process has to start all over again.
For anyone relocating or emigrating this is frustrating and annoying as plans
have to be put on hold. For people with financial difficulties or in danger of
having their house repossessed, it can be very serious indeed.
A realistic alternative to Estate Agents
At last there is an alternative to using an Estate Agent. Using a specialist
property-buying company offers the speed and certainty lacking if selling on the
open market through an Estate Agent.
Companies like A Quick Sale (
http://www.aquicksale.co.uk ) are now offering a
service that more and more people see as a better alternative than waiting and
hoping for an elusive buyer. They will normally make an offer to buy a property
within a few days, completing at a date to suit you, so that people can move on
with their lives.
So, what’s the catch? Well, the main one is that they will be looking to buy the
property at a reduction from the open market value. How much of a reduction
often depends on the type and size of property but is likely to be at least 10%.
The other thing to watch out for is that some of these companies charge an
upfront valuation fee of several hundred pounds. Whilst this is usually
refundable if you go ahead and sell to them, it is quite possible that their
offer on your property will be unacceptable to you, leaving you out of pocket!
Questions to ask
If the speed and certainty of selling to a property-buying company appeals to
you, what do you need to look out for?
Probably the first question to ask is – will it cost me anything to get an offer
on my property? A national house buying company featured on Watchdog last year
after many complaints fro people who had paid a valuation fee and then offered
much less than their property was worth.
(see
http://www.bbc.co.uk/watchdog/reports/home/home_20051122_2.shtml)
You wouldn’t expect to pay an Estate Agent for a valuation, so why pay these
companies?
The next question most people need answering is – can I rely on this company?
Can they fit around me? These companies should be asking you about your
timescales and deadlines and tailoring a solution around these. Look carefully
at their literature and website to see if they are flexible and offer a range of
solutions. It is also a good idea to ask them for examples or testimonials from
previous customers.
So, if you have a property to sell, before you call an Estate Agent, it might be
worth checking out a couple of these companies who can offer you a quick sale.
Disclaimer:
All information contained in this article, is for general information purposes
only and should not be construed as advice under the Financial Services Act
1986.
You are strongly advised to take appropriate professional and legal advice
before entering into any binding contracts.
About the Author:
Michael Hanna About Michael Michael is a keen writer, and internet marketer
living in Scotland: Contact details: E-mail: samqam@googlemail.com Phone: 0131
561 2251 Michael's Website:
Gransha
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