Frequently Asked
Questions
We know that you will have a lot of questions to ask when
selling your property and have placed the answers to our
most frequently asked questions on this page. We welcome any
questions you might have and will always answer truthfully.
What
price could I expect to get if I sell to you, opposed to
selling via an estate agent?
Most buyers pay a fair trade
price for properties and this will depend on a number of
factors such as location, type and condition of the property.
Typically, paying somewheer between 70% and 90% of the
price you could expect to achieve within 6 weeks if selling via
an estate agent.
When looking at
estate agent valuations, consider this recent report from
Which? magazine: click here.
Are there any costs involved
in selling?
No. There will never be anything for you to
pay at all.
Can I use my own
solicitor?
Absolutely, yes. We strongly recommend that you do, even if
you have to pay the fee - the advice could save you from
problems later, especially if you are entering into a rent back
agreement.
I am in arrears with my
mortgage, can I still sell?
As long as your mortgage company is in agreement, there
won't be a problem. Sometimes, if you are in negative equity
(owe more than the property is worth), some mortgage companies
may not allow you to sell, or will look for some kind of
agreement on settling the arrears before allowing a sale to
proceed.
You need to contact your mortgage lender if your property is
worth less than the price you can sell it for. Some are more
sympathetic than others and may have solutions if you speak to
them early enough.
What sort of
properties can be sold in this way?
Most companies are looking for houses or very good quality
apartments in modern blocks. Just about anything will be
considered.
Will companies buy properties
and lease them back to the former owners?
Some companies offer this service. There are increasing
reports of companies operating in this sector failing. This
means that when they fail to pay the mortgage, the original
owner is often left without a home as the banks take possession
of a large portfolio of properties.
The original owner (now a tenant) has absolutely no
protection in these circumstances and this sector is currently
unregulated - so proceed with caution.
How quickly would I need to
move out of the property if I sold?
Usually upon completion, as you would with a sale via an
estate agent. However, some companies are flexible
and will fit in in with your own circumstances, within
reason.
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