We have all seen the adverts on TV for these new we buy any home companies. They claim that they will purchase any house that homeowners have, regardless of the condition it is in. We wanted to gain a little bit more insight into the nature of these services and find out if they are all created equally. There are a number of different companies out there that are all doing relatively similar things in terms of buying houses, but they all have a slightly different approach to the way in which they approach their service. We discovered that some are doing this in a genuine and fair way, while others are using tactics that can be viewed as manipulative and underhanded. If you are thinking of using one of these services, then keep reading, as this article could save you a few surprises along the way.
What Are We Buy Any Home Companies?
We buy any home companies are basically private companies that have their own cash funds that they use to purchase properties. These properties are generally residential houses, but they do sometimes deal in commercial spaces such as office buildings and warehouses etc. Since they have their own funds ready and waiting to go, they are able to offer a service that is much faster than the usual route of selling via an estate agent. Most people do not buy a house outright, they have to negotiate a mortgage with a bank in order to get the property. This means that the process often takes longer, and the sale can fall through at the last minute due to the fact that the bank may decide not to agree to loan the money. These online home buying services tend to advertise the fact that they can finalise a house sale in as little as a few weeks, which is vastly different to waiting up to 6 months to a year to get a sale the old fashioned way. So from this aspect, these services appeal to a lot of people that may find themselves in tricky situations that force a quick home sale.
Differences In Service
As previously stated, there is a big difference between a lot of these services, and you have to be careful that you do not get hit with surprises along the way. One thing that these services tend to offer is the free fees and costs. There are a number of costs involved in selling a home, for example most estate agents tend to charge a commission on the final sale of the home, usually around 1% to 1.5%. Online buying companies almost always agree to cover these costs from their end and include them in the final price that they offer for your home. Then there are the lawyers fees, which again can range from around .75% to 1.5%. Quick house buyers will usually appoint homeowners with a solicitor and cover all the fees from their end. This make it clear as to how much you get for your home, and cuts out a lot of time and hassle for you.