Questions to ask your quick property buyer
Selling your home to a fast buyer such as LDN Properties can be a very fast process, generally completed in just a few weeks. And that short timeline includes all the steps of selling your home, such as exchanging contracts and receiving the full sale proceeds from us.
But before you decide on exactly how to sell your property, you should do some advance research that will help you to determine the legitimacy of a particular quick home buying company. Consider asking a fast buyer some or all of the questions below, and read our answers so that you will know how to tell a legitimate company from others.
Reputable fast buying companies such as LDN Properties never charge homeowners any fees when selling their homes, instead ensuring that they get to keep all of the profit when selling. You should be wary of any quick buyer that demands you pay them commission, because it’s not the industry standard and it might be a signal of an unreliable company.
Lock out contracts give someone exclusive rights for buying your property for a typically extended amount of time. But there is no reason why a legitimate fast home buyer would need you to sign such a document, as their goal should be to buy your home within weeks rather than having to take many months before completing the purchase.
TPO is a third-party organisation that issues regulations which are designed to protect homeowners from bad practice in the quick buying sectors, and all members must follow those roles. You can search TPO’s website to quickly find whether a company belongs to the organisation.
Under these agreements, homeowners sell their property to a quick buyer and then rent it back from the company. Although this might seem like a sensible move, unfortunately there’s nothing to prevent the buyer trying to evict the homeowners after six months of renting, which means you would have no long-term certainty about being to stay in the house or flat.
