What is a quick property sale?

What is a quick property sale?

The property market can sometimes be really confusing and you may have wondered what the deal is with quick property sale companies.

In this article, we’ll give you a guide to what these companies do and how it can help you if you want to sell your home quickly.

Why you may want to sell your property quickly

There are any number of reasons why people want to sell their house or flat quickly and as we’ve learned everyone’s situation is slightly different.

That having been said there are some general themes.

Some people find themselves in a chain that breaks down.

This can be incredibly frustrating, especially when they have set their heart on moving to a new home and so a quick sale company can certainly help bridge the gap.

By arranging a quick sale the chain can be reformed before all of the individual deals break down irrevocably and people can get on with their moves.

Relocation is another reason why people may wish to get a quick deal done on their property.

It can often be the case that our sellers find that they have little time to get everything sorted before they move overseas and frankly once they have moved to their new home they can’t find the time or money to keep coming back and dealing with the sale of their old home.

Sometimes our sellers find themselves in a pickle with money and either need to unlock some cash from their equity or may even be facing repossession.

In these cases, we can organise a very rapid sale and speak with the lenders so that the repossession is stopped and the debt paid quickly from the proceeds.

We don’t just deal with private sellers.

Often, executors will want to move property on and they are duty-bound to get a good price but also not hold up the process unduly.

Buy to let landlords sometimes want to adjust their portfolio (for example they may want to move from flats to houses) and they wish to sell their flats as quickly as they can.

Alternatively, some people get into the buy-to-let business but find it is not for them and they just want a quick exit.

So what exactly is a quick property sale company?

Some years ago, businesses started to emerge that specialised in getting property deals done ultra-quickly.

Unlike traditional methods that might have taken months to complete, these companies were able to get the deal done within days.

With the advent of the internet and online information, together with some more forward-thinking solicitors and surveyors, it became possible to affect those quick sales.

A quick property sale company is specifically set up to get all of the administration and organisation of the selling of a property done slickly and with the minimum of fuss.

The main point is to get cash to the seller as quickly as possible.

A quick sale company will have a panel of property experts who can be called upon at a moments notice to start the ball rolling.

Initially, they will have internal experts who will assess the property using a variety of sources of information and will be able to give an offer to the seller.

And at this point, we really see the difference between a quick property sale company and normal buyers.

Once the offer has been made and accepted then there will be no going back. This means that the company needs to be fairly entrepreneurial and take the risk that something will turn up later.

The company also has to take the risk that it won’t be able to sell the house later.

So essentially the quick house sale process is a case of transferring these risks from the seller to the company.

Once the offer has been accepted then the company will typically use external experts such as solicitors and surveyors to continue with the sale process but they will be specially chosen because of their expertise in this form of property transfer.

It’s also true to say that technology has made a big difference to the speed of completion and this helps to ease the way.

At Lothian though, we make sure that the centre of the business is people and we never let technology get in the way of speaking to our sellers.

So that all sounds very positive but there must be some downsides?

There are naturally some downsides to the industry.

The most obvious one is that in order to get the property sold quickly the company will expect a discount.

For some people, this can be too much and they will prefer to sell their house the traditional way however you should check out our article on the economics of selling your house quickly here.

It is also true to say that some companies haven’t acted in the best way and sellers haven’t been impressed. The good news is that the new generation of quick sale companies realise that reputation is everything and only by treating their sellers fairly and honestly can they expect to have a growing and profitable business.

Call us now – it could be the best call you make all year!

Lothian Property Buyers make treating customers well the bedrock of their business.

We know it’s sometimes a bit worrying when you have to call companies you don’t know but you shouldn’t be concerned.

Our customers tell us that we’re friendly and approachable and we promise there really is no hard sell.

We’re happy to just go through the options and process with you and then let you take your time to make up your mind.

Contact us now and let’s have that chat!

Name (required)E-mail (required)Website

Leave a Reply