Checklists
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Before you contact anyone make sure the inside and out of your property is clean and tidy, even if it still needs work. | |
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If you need to sell your property to a professional buyer with cash because:
To find out sold house prices in you area for free visit nethouseprices.com. |
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If you are thinking of selling because you are struggling with the mortgage payments, speak to your mortgage company or a debt agency for independent advice first, such as National Debt Line or Citizens Advice. | |
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Find out what the property market is like in your area, chat to local agents who have sold similar properties to yours recently and ask them how many weeks it takes from marketing the property to completion. | |
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Search on property portals to find out what properties have sold similar to yours:
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This will show you agents who have sold similar properties to yours at a price they are really worth. | |
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Invite these local agents to value your property by:
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To be sure of your property’s value, secure a RICs valuation for a ‘quick sale’ price. |
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If you cannot secure an offer via an agent or you need an offer at speed (under four to six weeks) it is worth contacting a ‘professional buyer’ (sometimes called a ‘quick sale’ or ‘part exchange’ company). | |
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Make sure you only contact companies like Open Property Group who are members of The Property Ombudsman Scheme. | |
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Ask if they will purchase any property types or problems. Some won’t buy a property with subsidence or disputes. | |
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Understand how they secure their funds, some claim to offer a ‘quick sale’ but then sell your lead onto someone else, make sure the people who buy your property do so with their own cash funds. | |
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Will the company keep the property or do they intend to sell it on? If they hold onto it may mean they can offer a better price. | |
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Ask how they will value your individual property and what discount they expect to buy at – some may offer a value of 10% -25% BELOW what it would be worth if sold on the ‘open market’. | |
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Check whether they have any case studies of anyone local to you and if you can talk to them as a reference. Here are some case study examples. | |
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Can you contact them whenever you need – and will you be speaking to the person who makes the decision to buy the property? | |
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Find out whether they will cover your costs of selling such as funding or contributing towards a legal company of your choice or ask for any fees they may charge, in writing, up front. Ideally choose your own legal company. | |
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If the company has a survey carried out, ask to see a copy, if they don’t let you, then don’t sell to them. | |
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Secure their offer in writing, subject to exchanging within a time limit which suits you and ask them what guarantees they provide on the offer. | |
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Do not sign anything that restricts you to selling to the company or one person and ties you into a long time period. | |
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Be careful as some companies try to trick you with a high offer initially so you accept their deal and then reduce the offer just before exchanging contracts. | |
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If any company pressurises you at any stage to sell to them or reduces their offer, contact us immediately. | |
