The quick house sale industry
The quick cash house buyer industry is not regulated by any official governing body and as with any unregulated industry there have been, and still are, companies that operate in the sector who use shady underhand tactics to win business.
Tactics such as gazundering whereby a buyer will agree to purchase a property at one price only to significantly lower the price at the last minute are still rife in the industry. Although most would deem using this ‘tactic’ as standard business practice immoral, in the eyes of the law it is still completely legal.
This is why it is so important to choose the right company when considering selling your house in this manner.
Things you need to consider when choosing a cash house buyer
With any big financial decision, and it doesn’t get much bigger than selling your house, it is important to do your research and of course to shop around.
There is however a big difference between what you are looking out for when shopping around in the quick house sale market and most other markets. Usually when you are shopping around you are looking for the best price, which in the cash house buyer market means the highest offer for your house right? Well actually this isn’t really the case, the trouble with this is the tactic used by most disreputable house buying companies is to offer high initially only to drop their offer at the last minute, and I do mean last minute, this is generally done on the day the sale is due to complete when all of your possessions are in boxes and the delivery van is about to arrive. Will you have the energy to reject the revised offer and start the process again? Most people don’t and they end up accepting a far lower price than was initially agreed.
So what should you look out for if not price? Instead you should be looking for signs that you are dealing with a company with genuine intentions and integrity. A company that is going to actually deliver what you are really looking for which is a fast, stress free house sale. After all you have already decided that you are going to compromise on price so you need to make sure you are not compromising on anything else.