How Much Do ‘We Buy Any House Companies’ Really Pay?

How Much Do ‘We Buy Any House Companies’ Really Pay?

The process of selling a house is personal and unique for every homeowner.

While some people are willing to go through the process of listing their house on the property market, others don’t have the luxury of time and will most likely sell to ‘we buy any house companies’. If you opt for the latter, make sure you conduct independent research into we buy any house services before committing to the sale process. This is because while many ‘we buy any house companies’ are legitimate, there are a few rogue companies that are out to scam property owners.

This article covers some of the important things to consider when researching on we buy any house companies:

What is a ‘We Buy Any House’ company?

‘We buy any house’ refers to quick house sale companies that buy property houses for cash. They are also referred to as ‘quick house sale’ companies or ‘we buy any home’ companies. These companies usually have cash reserves or the backing of investors hence they buy property fast for cash. They also offer a quick turnaround compared to selling your house through estate agents or the traditional methods. On average, you should be able to complete the sale process and receive your cash within 7 days of initiating the process.

Why use a ‘We Buy Any House’ company?

The traditional process of selling a house is good. However, it can be lengthy and drag for so long which can be inconveniencing when you don’t have the luxury of time. Let’s say you’re looking to relocate, going through a separation or divorce, are handling probate property among other reasons.

A ‘we buy any house’ company becomes the preferred option because you can be sure to complete the process in a matter of days and have the funds deposited in your account. On the other hand, it would take an agent much longer to get a suitable buyer and complete the sale process. Regardless of your reasons for selling your house, it is important to take time to research into we buy aby house services to make sure they are a legitimate company.

How much do ‘we buy any house’ companies pay?

The way ‘we buy any house companies’ work is such that they do not offer the actual market value for your property. This will drive them out of business. So then, how much they pay? Most of the quick house sale companies will offer between to 75% and 90% of the value of your property. So, you can opt to do an independent valuation of your property so that you have a rough idea of what you can expect if you choose to sell through a quick house sale company.

Although these companies will buy any house, literally, they are willing to pay a little more for houses that are in a more desirable condition because they can sell them faster and for a better price compared to houses in a less desirable condition.

How Does a ‘We Buy Any House’ Company Compare to High-street Estate Agents?

Although the amount of money you get from selling your house to a ‘we buy any home’ company may seem little, you need to break down the numbers before making that conclusion. It may be the best option taking into account the following variables:

  • Agent Fees. If you sell your house through an estate agent you will usually have to part with a 2% commission fee and VAT. Besides, you also have to pay a legal fee. Similarly, working with online estate agents attracts a fee. Conversely, with quick house sale companies, you don’t have to pay any fees as they are handled by the property buying company.
  • Viewings. When dealing with traditional estate agents, they will organize for viewings by prospective buyers. Online agents may also do the same even though they could charge you a separate fee to facilitate the viewing process. Yet, we buy any house companies will buy your property on an as-is basis.
  • Contact with buyers. Estate agents will usually handle all correspondence so it is unlikely you will communicate with the buyer. With quick house sale companies, you can have direct contact with your buyer.
  • Timelines. With estate agents, you don’t have a guarantee of when the house will be sold. Quick house sale companies will often provide an offer in as little as 24 hours with the sale process being completed within 7 days.

Ultimately, selling your house to a ‘we buy any house’ company is a good move if you want to sell your house fast. While there are plenty of legitimate and genuine ‘we buy any house’ out there, it is always advisable to do due diligence and research into we buy any house services before transacting.