Frequently asked questions about selling your Dormer’s Wells home to a fast buyer
There are several perks of using a quick home buyer to sell a freehold or leasehold property, including the fact that it’s often the speediest method – typically many weeks or months faster than the average timeline you’ll get when selling with an estate agent or auctioneer.
Yet many homeowners may not know how to find the right speedy home buyer, and it can be worth doing some advance research before making a decision on using this type of business.
Before selecting a fast buyer for selling your property, it can be useful to email or call companies to ask them some questions about the way they operate. The answers that they provide could assist you in deciding whether selling to them is best for your individual situation, or the responses could highlight concerns that make you lose interest in selling to the business.
We’ve provided some sample questions below that you may want to ask quick home buyers, along with guidance on what to look for in the answers to see if they’re a good match for you.
Honest fast property buyers, such as LDN Properties, never charge any commission when purchasing houses or flats. You should opt against selling to a quick buyer that insists on charging you fees, because plenty of zero-fee fast property buying companies exist.
Lock out contracts are legally binding agreements that give someone the sole option to buy your property for an extended amount of time, usually many months. Fast buyers should be able to complete the purchase of any home within a handful of weeks, so there is no reason why an honest company should need you to sign one of these contracts in order to buy your property.
TPO is a third party organisation that publishes regulations designed to shield homeowners from becoming victims of fraud in the fast buying sector. All genuine TPO members must abide by these policies, which should give you more peace of mind when selling. Don’t sell to a fast buyer that isn’t registered with TPO, because it might be a business trying to scam you.
Sale and rent back agreements let owners sell a property to a fast buyer but continue to live in the house or flat by paying the company in exchange for paying them rent. Although this at first seems like it could provide some stability about your living situation following a sale, the fast buyer would have the right to try and force you out just six months after you’ve sold your home.