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The Advantages and Disadvantages of Quick House Sale Companies

It is not doubt that quick house sale companies are a great solution when you want to sell your house fast. In fact, it is the reason these companies have steadily gained popularity among property owners that want to rid themselves of the property fast. Besides selling property through estate agents is not always practical depending on your needs especially if you have to relocate or are going through a divorce.

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There are a number of reasons that you may prompt you to opt for a quick house sale. They include the following:

  • You found your dream house and need to raise money to pay for it fast
  • You are relocating to a new area
  • You are going through a divorce
  • You are emigrating
  • You inherited the property but want to sell it to acquire new one
  • You are downsizing
  • You are retiring
  • You are facing tough financial problems and need a quick financial boost
  • Your neighbours are a nuisance

If you are faced with any of these issues, quick house sale companies that buy your property in as little as 7 days will suit your timescale while offering a host of advantages. Although a number of quick house sale companies are regulated by being registered members of the RICS, there are those companies that are not registered hence take advantage of sellers.

It is important to ensure that you only work with companies that are registered with professional bodies because only then are you assured that they will abide by the code of practice that also outlines proper dispute resolution. Sellers who do not sell their property through a RICS approved company are particularly at risk of losing out financially despite being able to sell their property fast.

Advantages

There are advantages as well as disadvantages of selling your property to the quick house sale companies. They include the following:

  • You are able to access cash fast.
  • Regulated quick house sale companies are able to help you stop repossession, address existing financial problems and clear debt.
  • It is an easy and fast way of disposing of inherited property.
  • It is a good solution if you are faced with health problems or are retiring and need to move to the home for the elderly.
  • If you are going through a relationship breakdown or divorce, quick house sale companies can help in liquidating the property in just a matter of days.
  • You can get to sell your property even if it would have been difficult selling it through estate agents due to existing problems, as they do not focus on the problem or condition when buying.
  • They make your relocation process simple by providing cash fast.
  • It is a quick avenue of raising money to pay for your dream house

Disadvantages

Unfortunately, we cannot only talk of the positive side of the quick house sale companies while forgetting the disadvantages. Here are some of the disadvantages:

  • The majority of quick house sale companies are not registered hence, are unregulated. What this means is that these companies my employ malpractices like promising to buy your house only to reduce the price when the sale process is at an advanced stage. Therefore, it is important that you do your research well so that you instruct the right company that is subscribed to the National Association of Property Buyers. This way, you are guaranteed that the quick house sale will sail through.
  • Unregulated quick house sale companies may charge you a fee even though you are not supposed to be charged any fees. If the company you have chosen is charging you a fee, then ignore them.
  • Quick house sale companies that are not regulated may also come up with false valuations in a bid to take advantage of you.
  • Some companies may tie you into contracts for up to 12 months beating the logic for opting for a quick house sale in the first place.

Generally, quick house sale companies are a good and fast way of selling property letting you take care of any pressing issues that you may be faced with. Even then, you need to ensure that you research about the quick house sale company that you will work with because only then will you be protected from possible malpractices.

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