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Be Wary of the Sell Your Home Quickly Scams

By: Garry Crystal - Updated: 18 Jan 2012 | comments*Discuss
 
Sell Your Home Quickly Market Value Cash

Selling property is one of the most popular ways to increase income during a long term period of financial hardship. There are companies that will offer to buy your home quickly for a fair price but there are always disreputable companies ready to make a killing from desperate sellers.

Selling Your Home Quickly

There are a number of reasons why homeowners need to sell their property quickly and financial necessity is usually among the top reasons. In times of recession, homeowners can find themselves in long term financial difficulty, many facing repossession. Achieving a quick property sale can seem like an immediate solution to financial difficulties. Sell you home quickly companies are legitimate but unfortunately there are some buyers out there offering lower than should be accepted. And just because a company is permitted to trade does not mean they will not use ‘spin’ to make it seem as if their cash offers are the best available.

What Are Sell Your Home Quickly Companies?

As the name suggests there are companies that will buy properties quickly for cash. The sales prices will usually always be lower than normally achieved when going through sales routes such as an estate agent. These companies are aware that many people are desperate to sell their homes quickly and willing to accept less money than having to wait for the right buyer. Sell your home quickly companies are easy to find especially during a recession and will often use direct mail and cold calling methods. A seller who advertises their property in the usual way but has had no interest from buyers will often be watched and targeted by this type of company.

Why Sellers Should Be Wary of Selling a Home Quickly

It’s not always the case but selling a home quickly for cash will usually result in a lower sales price. But where the sell your home quickly companies are concerned, a lower sales price is a guarantee. Sell your home quickly companies will usually offer anywhere between 25% and 30% below the open market value of the property. But this is not to say that representatives from sell your home quickly companies will not try to buy a property at much lower than the 30% figure.

Do Not Accept the First Sales Price Offered

Although sell your home quickly companies will often offer the lowest they can there is no need to accept the first offer or any offer. Buyers should always try to negotiate if they are using these companies. In many cases the salespeople will give seemingly valid reasons why they are making a low offer but sellers should remember the company is trying to make as much profit as they can. Negotiating is vital and a quick cash home buying company will be extremely happy if the seller makes no attempt to negotiate. Homeowners should realistically hold out for around 18% to 20% below the market value and try to negotiate for less than this figure.

Signs that a Home Buying Company Should be Avoided

There are always going to be disreputable companies hoping to take advantage of the financial hardships of others. Sellers should be wary of companies making claims that they will buy properties for 90% to 100% of the market value. This is basically company spin designed to get the seller tempted and to get the salesperson into a meeting with the owner. Salespeople are very good at high pressure techniques and can be extremely persuasive and convincing when giving reasons why they cannot offer what was advertised on their websites or brochures. It is very easy to find numerous sell your home quickly companies and quotes should be obtained from different companies.

Do Not Pay Upfront Fees

Any sell your home quickly company representative who asks for an upfront fee should be avoided. There are some companies that will ask the seller to pay for a property valuation but there are companies that will undertake this as part of their service. Sellers should be wary of companies that charge valuation fees, legal fees and high administration fees. Sellers can always try to negotiate these fees as part of the overall deal with these charges paid for by the buyer. Sellers should undertake some research on what will be paid for by the home buying company.

When using sell your home quickly companies always stay safe and try to use a company that has been recommended by others. It doesn’t take much time to get online and check out references from other sellers on specific companies. Remember to always carefully check the terms and conditions of any contract before signing and do not be afraid of walking away from a deal if in doubt.

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