Questions to ask your quick home buyer
When you use a quick buyer to sell your house or flat, you have the opportunity for a streamlined process through which you can complete the sale within a few weeks. That can sometimes be much speedier than using an estate agent or auctioneer, but you should still do some advance research before choosing this option given how important a home sale can be.
Below you’ll find a few sample questions that you should consider asking a fast home buying company, as the answers will give you invaluable insight into how their business operates. Their responses will also help to alert you to any potential problems about selling your home to them.
This is a crucial query because legitimate fast home buying companies such as LDN Properties generally don’t charge any fees for buying houses or flats. We believe that homeowners should get to keep all of the proceeds from selling their homes, and so if a fast buyer is asking you to pay commission, then you should be cautious about selling your home to them.
Another top question because some fast home buyers will try to get you to sell your home to them by promising that you can still live in the property after the sale is complete by renting it from the buyer. However, there is often nothing to prevent the buyer from trying to evict you after six months, which could ruin your long-term plans if you intended to rent it for many years.
Lock out agreements are not necessary in the fast home buying industry, and you shouldn’t sell your property to a quick buyer that asks you to sign such an agreement. These agreements give the company exclusive rights to buy your home for an extended period of time, blocking out all other offers, but a trustworthy fast buyer doesn’t need that amount of time to buy your home.
Most of the speedy home buyers that you can trust are members of The Property Ombudsman (TPO). This is a third-party entity that writes regulations which aim to guard homeowners against scams in the fast home buying industry. Be cautious about selling your property to a company that isn’t a TPO member because they don’t have to follow those rules and you risk falling victim to fraud.