The
rent back company offers a cash buying service to people in the UK
who wish to sell their house quickly, and hassle-free. One of the
most popular reasons why people decide to sell
home for cash, is that they have been let down by a buyer after a
long sales process. The rent back company can help by making an offer
and purchasing property approximately 80 to 85 per cent below the
open market value. This gives you a fast cash sale with no hassle,
and gives you the margin that the company require to make the deal
work.
When
the rent back company use the term “open market value”,
they are judging that figure on actual sold prices of comparable
properties in your area, and valuations based on what the bank
valuers say, and not inflated valuations used by estate agents to get
your business. The vast majority of property in the UK sold through
estate agents is inflated in valuation, which is why average sellers
receive offers around 6 to 9 per cent less than the asking price.
This has nothing to do with the company culture of “haggling”,
but more to do with offers that represent a truer market value of the
property.
Using
conventional methods to sell your house will more than likely get you
a higher price for your property but it is painfully slow and made
worse by unreliable buyers.
If
time is of the essence, then using an estate agent is probably the
worst thing you can do. In a very overheated property market an agent
can shift a property very quickly, however this is only half the
battle. When the property market has many potential buyers, the
reliability and quality of the actual buyers tends to go down
dramatically. Feeling pressured for fear of loosing the deal to one
of the many other buyers, they make offers in excess of what they can
afford, or more accurately what their banks can lend them. This may
not be obvious at first, but buyers pulling out of deals is extremely
common, as their purchase is governed by impulse, emotion and greed
more than logical thought. Although it would not hurt them to pull
out of the deal, it can be devastating for you if you were relying on
that buyer for the sale of your house.
By
working with rent back company you can have the security of knowing
you are dealing with property buyers who have the cash funds in
place, charge fees, and can buy your property as fast as you need it
sold.