Sell Your House Fast: A Guide to House Buying Companies
The UK property market can be unpredictable, with traditional sales often taking months to complete. If you need to sell your house fast, house buying companies offer a streamlined alternative, allowing you to bypass estate agent delays and hidden costs. These firms purchase properties directly for cash, often completing transactions within weeks rather than months.
But how do house buying companies operate, and are they the right choice for your situation? This guide covers everything you need to know.
Why Homeowners Choose to Sell Their House Fast
Financial Pressures and Urgent Circumstances
Rising interest rates and the increasing cost of living have left many homeowners struggling to keep up with mortgage payments. Unexpected financial difficulties, such as redundancy or debt, can create an urgent need to release property equity.
With traditional estate agent sales taking an average of 6-9 months, many homeowners opt for house buying companies to ensure a quick and guaranteed sale. Cash buyers eliminate the uncertainty of failed transactions, helping sellers avoid repossession and financial distress.
Life Events and Relocations
Life changes, such as divorce, separation, or job relocation, can create a pressing need to sell a property quickly. Selling a house fast enables individuals to settle financial matters, relocate for work, or downsize without prolonged delays.
For those dealing with probate property sales, house buying companies provide a stress-free alternative by handling legal paperwork and purchasing properties without requiring costly repairs or improvements.
Traditional Estate Agents vs. House Buying Companies
The Lengthy Estate Agent Process
Selling through an estate agent involves listing the property, arranging viewings, negotiating offers, and navigating a lengthy conveyancing process. The entire transaction can take up to nine months, with risks of deals falling through due to mortgage issues, chain breaks, or buyer withdrawals.
Hidden Costs in Traditional Sales
Selling a property through an estate agent incurs various costs, including:
- Estate agent fees (1-3% commission + VAT)
- Solicitor fees (£1,000+ for conveyancing)
- EPC certificate (mandatory before listing)
- Ongoing mortgage payments during the sale process
- Potential repair or renovation costs to make the property more appealing
The Faster Alternative: House Buying Companies
Unlike estate agent sales, property buying companies purchase homes directly for cash, ensuring completion within 7-28 days. This eliminates delays caused by mortgage approvals, property chains, and market fluctuations.
How House Buying Companies Work
Step 1: Initial Contact and Valuation
The process starts with an enquiry, where homeowners provide property details. The company then conducts an initial desktop valuation using market data and comparable sales.
Step 2: Cash Offer Within 24-48 Hours
A formal cash offer is made based on the property's condition and market trends. While offers typically range from 80-85% of market value, sellers save on estate agent fees, repairs, and holding costs.
Step 3: Solicitors and Surveys
Once the offer is accepted, the company instructs solicitors and surveyors to carry out due diligence. Unlike traditional sales, these transactions rarely fall through due to mortgage issues or survey complications.
Step 4: Completion in 7-28 Days
Sellers choose a convenient completion date, often within weeks. Funds are transferred directly upon completion, allowing homeowners to move forward without further delays.
Benefits of Selling to a House Buying Company
Speed and Certainty
With completion times as short as seven days, selling to a cash buyer is ideal for those facing repossession, relocating for work, or finalising probate sales quickly.
Sell in Any Condition
Unlike traditional buyers, house buying companies purchase properties in any state, including those with structural issues, damp, or subsidence. This eliminates the need for costly repairs or refurbishments before selling.
No Fees or Hidden Costs
Most reputable house buying firms cover legal and survey fees, meaning sellers avoid the typical expenses associated with estate agent sales. Additionally, there are no commissions or marketing costs.
Finding a Reputable House Buying Company
Check for NAPB Membership
The National Association of Property Buyers (NAPB) ensures ethical standards in the quick house sale industry. NAPB members must also be registered with The Property Ombudsman (TPO), providing additional consumer protection.
Verify the Company's Financial Standing
A genuine cash buyer should have immediate funds available, rather than relying on mortgage approvals or investor chains. Request proof of funding before proceeding.
Read Reviews and Ask Key Questions
Research customer feedback and online reviews to gauge the company's reputation. Before agreeing to a sale, ask:
- Do they provide proof of funds?
- Are they NAPB and TPO members?
- Will they cover all legal fees?
- What is their average completion time?
Comparing Traditional Sales vs. House Buying Companies
Cost Breakdown Example
| Sale Method | Market Value | Final Sale Price | Fees & Costs | Net Proceeds |
|---|---|---|---|---|
| Estate Agent | £100,000 | £100,000 | £10,000 (fees, mortgage, repairs) | £90,000 |
| House Buying Company | £100,000 | £80,000 | £0 (no fees) | £80,000 |
Although house buying companies offer below market value, the absence of estate agent fees, legal costs, and mortgage repayments makes the financial comparison more balanced than it appears.
When is Selling to a House Buying Company Ideal?
Urgent Sales (Repossession, Probate, Relocation)
If facing repossession, a quick sale prevents negative credit impacts and legal action. Similarly, probate sales and job relocations often require a fast, hassle-free property transaction.
Problematic Properties (Structural Issues, Unmortgageable Homes)
Selling to a cash buyer removes the burden of repairing properties with subsidence, damp, or fire damage, which may otherwise struggle to sell on the open market.
Final Thoughts
Selling your house fast through a property buying company offers speed, certainty, and convenience. While offers are typically below market value, the absence of fees, mortgage payments, and repair costs makes this option financially viable for many homeowners.
By choosing a reputable, NAPB-registered company, sellers can avoid the stress of prolonged estate agent sales and secure a guaranteed cash sale within weeks. Whether facing financial difficulties, life changes, or property issues, house buying companies provide a practical solution for selling your house fast.
Frequently Asked Questions
How much below market value do house buying companies offer?
Typically, 80-85% of the market value. However, savings on fees and costs make the financial difference smaller than it first appears.
Do I have to pay any fees?
No, reputable house buying companies cover all legal and survey fees, ensuring no hidden costs.
How long does the process take?
Completion usually takes 7-28 days, depending on your requirements.
Can I sell a house that needs major repairs?
Yes, cash buyers purchase properties in any condition, including those with structural issues, subsidence, or damp problems.
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However, differing types of house-buying companies will offer varying amounts for residences. As described Beforehand, iBuyers are inclined to shell out much more than We Get Houses companies because iBuyers look for homes in superior situation. An iBuyer may possibly pay back you 85%-ninety five% of market value when charging a charge for his or her companies.
At CNBC Select, we function with authorities who may have specialised know-how and authority based on pertinent teaching and/or experience.
Mortgaged customers use a financing contingency that may delay the deal if the client’s bank loan doesn’t apparent
An email despatched to TheAdvisory by Jane Deakin detailing how a income buying business made an effort to drop the worth for the 11th hour It receives worse:
We purchase Qualities in any locale and condition in the UK, including Those people with tenants. And we're the most extremely rated cash purchaser and fast sale professional, so you are aware of you'll be in Harmless hands with us. Get Your Income Offer No deceptive contracts or hidden phrases
Mainly because We Buy Houses for Money companies often give attention to distressed houses, they normally have zero fees. Several will even include your closing expenses. Usually, Because of this the income offer you get will probably be the price you wander away with at the conclusion of the Sell Your Home Fast deal.
Will the sale be discreet? Certainly, it'll. There'll be no ‘available for sale’ signals or online residence listings. The one people House Buying Companies that will know about the sale will be Individuals specifically involved with it.
The effects of on-line home portals can differ greatly. With the proper market problems and marketing shell out they might create curiosity.
Depending on our dealings with Quick Go Now, we would remarkably advocate them. The procedure was firstclass from commence to complete. Our chain fell by means of ideal with the last second and we risked dropping the residence we’d fallen in love with. The moment we accepted the offer from Rapid Shift Now, they got the ball rolling quickly. We used the solicitor they advisable for simplicity and velocity, who turned out for being great.
You are able to sell a house once you’d like following buying it—however selling too fast may well necessarily mean losing revenue on the costs of buying, selling and shifting, as well as diminishing or growing equity.
This suggests you don’t have to bother with property chain collapses, or your house sale slipping by. In addition it places you in a robust placement to negotiate on the worth you pay for your future home.
It’s typically greatest to attend for no less than two many years before you decide to sell to offset the closing fees With all the equity you’re ready to build in the course of this time.
, with our individual resources. We don’t rely on any third functions (like mortgage loan lenders or other personal loan suppliers) and we're not associated with any residence chains.
Editorial Notice: Thoughts, analyses, evaluations or recommendations expressed in this Sell Your Home Fast article are those of your Pick out editorial staff members’s by yourself, and have not been reviewed, authorised or if not endorsed by any third party.