Quick house companies are a great alternative to selling your house because they buy the house directly from the homeowner. In some instances, they may also help identify a third party buyer fast.
The major benefit of dealing with quick house sale companies like readysteadysell.co.uk is that they pay for the house in cash even though at a discounted rate. Thus, quick house sale companies are able to offer great service for homeowners who are seeking to unlock cash quickly:
Here are some of the advantages and disadvantages of using quick house sale companies to sell your property:
Advantages of Quick House Sale Companies
- By selling to a quick house sale company, you are able to avoid repossession, clear your outstanding debts and sort all your financial issues.
- It is also an excellent avenue of disposing of property that you have inherited but you do not want to keep it.
- A quick house sale is handy if you need to move due to age or even health related reasons.
- If you are going through a relationship breakdown or a divorce, selling to a quick house sale company would be ideal.
- When you have to relocate because of a change of job or simply to emigrate, you can sell your house to quick house sale companies in just a matter of days.
Quick house sale companies are a great way to get around issues that have made it impossible for you sell your house through the traditional high street agent because they buy houses regardless of the condition.
Disadvantages of Quick House Sale Companies
Although quick house sale companies may be just what you need to stop repossession or sell your house and emigrate, you need to keep in mind that they too can have various disadvantages that include the following:
- Some quick house sale companies may renege on the agreed price only to tell you that the initial offer had been dropped moments before the deal was signed.
- In some cases, the fee structure may not be very clear so you need to ensure that you read all the print before signing the deal.
- Some companies may want to take advantage of your situation by making false valuations.
- Some of the companies may give you offers that prevent you from selling to anyone else that might come along with a better offer.
With all these advantages and disadvantages, is using a quick house sale company then right for you? The answer to this question is largely determined by the reason why you are selling the house as well as what your priorities are. Consequently, you may want to check out some of the alternatives to a quick house sale before you opt for it. These alternatives include the following:
- Using a traditional estate agent – Before making up your mind on selling your house to a quick house sale company, you may want to ask several high street agents for the price that would get you a quick house sale. You may be surprised to find that the amount that you need to drop the price by is significantly less than the 25% discount that the quick house sale company is asking for from you.
- Discuss with your mortgage company–If your motivation for selling your house to a quick house sale company is your struggle to keep up with mortgage payments, be sure to contact your mortgage lender and discuss the options that you have. In most cases, mortgage companies will not hesitate from taking your request into consideration hence your request to change the way you pay your mortgage could just be considered. In fact, some lenders could even suggest an extension of your mortgage term effectively reducing your monthly repayments.
- Consider other ways of financing for long-term care – If you are selling your home to pay for long-term care, ensure you have examined all the alternatives of financing your long-term care before resorting to selling your house. You will do well to talk to independent financial advisers specializing in long-term care.
While quick house sale companies may seem a good option when selling your house, it is important that you take time to critically review other options and compare them with the quick house sale offer before making a final decision to sell.