Considering Selling Your House At Auction?

If you have issues with your property or need to sell it fast then selling it at auction might seem like the best option but is it really?

Auctions are unpredictable and in the current economic climate buyers are only willing to part with their cash for a bargain price. Selling at auction is also not as fast as you might think, it could still take several months before the sale is over the line and the cash is in your account but what are the alternatives?

Read on to find out.

Cash house buying companies

If you need a fast sale of a less desirable property then a cash buyer is perhaps the best option. I’m not talking about your local ‘property developer’ with a bit of cash in the bank that they’re willing to part with for a bargain deal. I’m actually speaking about professional house buying companies whose sole purpose is to buy houses fast.

These companies offer a fast, guaranteed, sale. None of the uncertainty that comes with rolling the dice at auction and hoping that there are a few willing buyers in the room.

They can purchase a house in a couple of weeks and unlike open market buyers they are not fussy about how a property looks or even if it is structurally sound. So a house buying company is a great option if your property has any of the following issues;

Subsidence
A Septic tank
Japanese knotweed
A Mineshaft
Damp Issues
Needs a full refurbishment
Spray foam insulation
Lease issues

The pros of house buying companies vs auctions

No obligations offer

You can get an indicative offer from a cash house buying company quickly, often on the initial phone call and a formal offer in 24 hours. You are under no obligation to accept this offer so it is well worth inquiring, you could be surprised by the amount you could get compared to an auction.

Guaranteed sale

They make you an offer and if it is acceptable you have a buyer – it’s as simple as that there is no nail biting wait while your property is at the mercy of the property equivalent of a cattle market.

Fast sale

If you get lucky and there is an auction in the near future and if your property actually sells when the hammer falls you might get a sale over the line in around 2 months. With a house buying company once you have accepted their offer you can sell your house in around 14 days, less in certain circumstances. There is no faster way to sell your property.

No Fees

Unlike with auctions, where the selling costs can add up to thousands, there are no costs to pay with a house buying company, they will even cover your solicitor fees so you have absolutely nothing to pay out.

The Cons of house buying companies

The Price

From a house buying company you’ll receive an offer of around 80% of the ‘full market value’ of your home. You could theoretically achieve more selling through the auction, although you could also easily end up with less depending on how many people are interested in buying your property. In fact if you break it down an 80% cash offer doesn’t look like a bad deal when you factor in the risk and the additional costs of selling a house at auction.

As previously mentioned with a house buying company once you have accepted the offer that is the sum you’ll receive, if you use a reputable company that is, which brings us on to my next point.

Reputation

Many people are rightly cautious of the house buying industry due to its bad reputation, there are well publicised stories about companies reducing their offers at the last minute which have caused a lot of negative sentiment around the industry. As true as some of those stories might be, there are highly reputable companies out there who deliver what they promise and provide a valuable service to homeowners that need a fast sale.

Don’t let this last point put you off if you are in a situation where a house buying company might be a good option, here at the cash house buyer guru we have reviewed all of the top companies in the industry and have come up with our list of top house buying companies based on our gold standard criteria so you can safely navigate the industry and get the fast home sale that you deserve.

Get A No Obligation Cash Offer From A Guru Approved Cash Buyer

The guru has painstakingly reviewed and analysed the house buying companies in the UK, assessing them against his strict best practice criteria.

In short the hard work has been done for you, if you want a no obligations cash offer from a genuine cash house buying company with best in class service use the guru recommended service below to be matched with the right buyer for you, your house sale could be just a few clicks away.

Not sure if a cash offer will work for you? Find out what you could get in under a minute without having to enter any contact details.

Cash House Buyer

Criteria

Next Steps

Are they a genuine house buying company?

Is their offer realistic?

No contract or tie in to sign?

Can you use your own solicitor?

No fees to pay?

Are they registered with a redress scheme?

FIND A BUYER

Click the button to get an idea of what an offer from a cash buyer would look like in just a few clicks.

If the offer could work for you we will match you to a Guru approved buyer.

Checked

All of the companies have passed our rigorous 16 point checklist.

Verified

We have mystery shopped all of the companies and got feedback from past customers.

Guaranteed

All of the companies have signed up to the guru best practice guidelines for house buyers.

Should you shop around?

Feel free to read all of our reviews and make your own choice on who to contact – or contact them all if you have the time – but don’t just judge a book by it’s offer. In this industry the highest offer isn’t usually the best one, in short because it is likely to not be genuine. To learn more about the shady practises of the disreputable companies read our article below.

Further Reading: Common Cash House Buyer Scams To Look Out For

Cash House Buyer Guru