Questions and answers for fast buyers when selling your Hainault home
Fast buyers like LDN Properties typically have the financial ability to buy all shapes and sizes of freehold and leasehold houses and flats immediately, without having to wait a couple of months to get approval for a mortgage. This means sales can be completed within a few short weeks, which is often much swifter than the typical timeline when selling via an auctioneer or estate agent.
If you’re thinking about using a quick buyer to sell your Hainault property, you should search for individual company names online. This is a fast and free way to uncover any negative news articles and customer reviews about a business to steer you away from using them.
And you should consider emailing or calling specific companies to ask them some of the queries below, as their answers will help inform your decision on which quick buyer to use.
Lock out agreements give someone sole power to purchase your property within a set amount of time, usually many months or longer. There is zero reason why a genuine fast home buyer should need you to sign such an agreement, because the trustworthy companies should be able to complete every step of the purchasing process within a few weeks.
This question can help you determine whether a fast buyer is legitimate, because the honest companies will never charge you commission. If you sell your home via an estate agent or auctioneer then you’ll have to pay them fees that will reduce your overall sale profit. But genuine quick buyers don’t charge commission, which means you’ll maximise your sale profit.
Under these agreements, a fast home buyer purchases a property but lets the seller continue to live in there so long as they pay a monthly rent to the company. At first, this might seem like a good way for a seller to get certainty about their future living situation. But there is nothing to prevent the fast buyer from trying to evict the seller after owning the home for six months.
TPO is a third party organisation that writes policies which are designed to guard owners against fraud in the quick buying industry, and all TPO members are required to follow those rules. Be wary of trusting a company that either refuses to join the organisation, or that claims it is a member but cannot prove its registration status.