You are on a deadline. Whether you have to move for work, are facing repossession, need to pay for care or myriad other reasons, the fact is that you need to work quickly. If you are considering working with a fast sell homes company, make sure to consult this helpful checklist:
Fast Sell Homes Checklist
- Know your home’s value. Before selling – no matter what strategy you use – it is important that you have a good idea of the value of your home. Many owners either significantly overestimate their value or greatly underestimate it. In either case, that can make selling an even more frustrating prospect. On the one hand, you will have a hard time attracting buyers; on the other, you may not get the price you really deserve. You can use public records, information on sales of comparable properties in your area or ask a few estate agents for valuations. (Estate agents will typically provide a valuation free of charge because they see it as a great way to view the property and pitch their services.)
- Do your homework. As in any industry, some companies are simply better at what they do than others. They may operate with greater transparency, have a stronger track record or more experience. Whatever the case, it is important that you do some internet sleuthing and find the best fit.
- Review their website thoroughly to ensure it is clear, professional and helpful.
- Check if they are members of key associations, such as the Property Ombudsman, the National Association of Property Buyers (NAPB) and the Royal Institute of Chartered Surveyors (RICS). This is an indicator of their standing in the industry and adherence to their codes of ethics.
- Read reviews. Your peers are one of your most valuable sources of information.
- Ask for proof of financial standing (e.g. bank statements) to ensure they have the wherewithal to complete fast sell homes transactions.
- Enquire about typical sale prices. Don’t be shy. Any reputable company will be happy to not only provide you with proof of their financial status but also evidence as to typical purchase prices. Most companies offer between 75% and 85% of total market value (remember to factor in the expenses you will not have to pay, such as estate agent and solicitors’ fees).
- Be Very Wary of Restrictive Contracts. During the fast sell homes process, you should be in control at each stage. For example, if you receive an initial offer you are not happy with, you should feel completely free to walk away. If you receive a formal offer that you feel isn’t right, do the same. Some companies will try to have you sign a contract that prevents you from working with another property buyer for a certain amount of time. A reputable company will leave your decisions entirely in your hands and do not place onerous obligations on you.
- Review ALL documents carefully. Never sign a document if you do not fully understand the terms or if you are in any way uncomfortable. For example, be sure to read agreements carefully, and feel free to have an independent solicitor or advisor to review them. (You are never required to work with the solicitor provided by the cash buyer, although this can help you save money when you use a great company).
You will also want to review your valuation, RICS and survey reports. The results of a valuation, for example, can cause a reduction from the initial offer. It is your right to access these documents as part of your decision making process.
- Don’t be rushed or pressured. You may need to sell your house on a very tight timeline – but that does not mean you should be forced to make a rash decision with which you are not completely comfortable. If a cash buyer is willing to purchase your home today, they will also be willing to purchase it next week. Take your time to make the best choice for you, to have documents and offers reviewed by a third party, if you choose and to weigh your options.
Fast sell homes can be the answer you’ve been looking for; make sure it is the right move for you, your financial situation – and of course – your future.