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Offers In Excess Of Meaning

Offers In Excess Of Meaning

Looking at what offers in excess of mean and how it can affect your place on the property ladder.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

When it comes to the wonderful world of property, you are likely to hear a lot of acronyms thrown about. From SSTC to AIP, it seems like nothing in property goes by its full name. However, whilst you may have a basic knowledge of some of the acronyms, there are others that can leave you scratching your head.

 

For example, what does OIEO actually mean? Is it the same as offers in excess of? And what does it mean for your property sale or purchase? 

 

In this blog post, we are going to answer all these questions and more. If you know what you are looking for, check out our interactive menu on the side! 

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What does offers in excess of mean?

OIEO is an acronym that stands for ‘offers in excess of’. Whenever you see OIEO on a property, it will be accompanied by a price. It means that the seller is looking for prices over the stated price. 

 

Unlike a typical asking price, where potential buyers have a habit of under-offering, stating you are accepting OIEO, you are able to avoid being lowballed. Being OIEO will show potential buyers that you are unwilling to enter negotiations and that you must at least meet the listed price. 

What is the difference between in excess of and offers over?

These two expressions mean the same thing. They are both used to show that the seller is expecting any offers they receive to be over the guide price and are not willing to negotiate or accept anything lower. 

Why do people put offers in excess of?

There are many different reasons why a seller may list their property as ‘offers in excess of’. It could be a case of you being mindful of your budget and are trying to minimise the amount you will spend on estate agency fees and legal costs, as these are often the two costs that eat the most out of your final price.  

 

It could be a case of the estate agent believing selling OIEO could lead to a better sale. This means that although the price may be advertised lower than the homeowner was hoping for, the potential for a higher number of interested parties to bring higher offers is greater. 

 

Other times it could be a case that the property has undergone such a transformation that the estate agent cannot put an accurate price on it. Or it could be that the property is located in an area where property value differs. 

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Why do estate agents ask for properties OIEO?

If your estate agent recommends that you should want to sell your property as OIEO, then it may be because you are unable to agree on what property price to settle on. As the seller, you may feel as though your property is worth more than the valuation that your agent has provided, so they may suggest adding “offers in excess to show they are trying to get you the highest price for your property. 

 

They may also try and sell the house as OIEO as a way of encouraging interest, this is because the property will be listed as below market value, making it a competitive price. This will generate a lot of interest and make the estate agent look as though they are doing a great job of marketing.

 

Another reason why a property may be listed as OIEO is if it is at auction or an open house event, as it is a good way to encourage bidding wars. 

 

Your estate agent may also list the property as offers in excess of if it is hard to value. If you own a very unique property or there are no comparable properties in the area then it can be hard to get an accurate valuation. 

Should I sell my house as OIEO?

Whether or not you should put your home on the market as accepting offers in excess of is down to your personal situation. You should be wary as selling as OIEO can sometimes mean overpricing your property, which can then leave you with little to no offers. However, you can use this as a chance to offer your home at a lower price, which will generate interest and then drive up the price as a result. 

Can you go below offers in excess of?

Whilst it is possible to make an offer below OIEO on a property, the chances of it being accepted are very low. Because the seller has marked it as OIEO specifically it means they are asking for offers specifically above the asking price, they will be unlikely to accept less than the asking price. However, according to data from Sold.co.uk, eighty-five per cent of homes end up selling for below the asking price, so you can always test the waters and offer slightly below the OIEO price. 

 

Whilst it can be a risky move if you decide to offer under the offers in excess price, you can help your chances by making your offer more attractive. You can do this by proving you can finance the move. 

Is it rude to offer less on a house?

Sellers will often expect buyers to come in a little bit under the asking price when they put their home on the market, as this leaves room for negotiation. However, it is important that you do not make your offer too low, otherwise, the seller may not even entertain your offer.

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Does marking a property as OIEO put buyers off?

Marketing your property as offers in excess can put buyers off as they will often have a budget themselves and will be looking to stick to it as closely as possible. When you mark your property as OIEO, you are letting buyers on the property market know that you are not willing to accept less than the guide price, meaning buyers will often go elsewhere. 

 

If your motivation behind listing your property as OIEO is that you are factoring in the estate agent’s fees and legal costs, then we may have the selling solution for you…

How can we help?

Here at The Property Selling Company, we specialise in fast, effortless, and free sales, because we believe that buying or selling a home shouldn’t be complicated. 

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete. 

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free! 

 

So, if you are looking at purchasing a house marked as SSTC, or you are looking to find your next home, we can help you get sold in as little as 28 days! Fill out one of our fast, free, no-obligation forms for your house valuation today!

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Everything You Need To Know About The Memorandum Of Sale 2024

memorandum of sale

Everything you need to know about the Memorandum of Sale

This article will cover everything you need to know about the Memorandum of Sale when selling a property.

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Everything you need to know about the Memorandum of Sale

This article will cover everything you need to know about the Memorandum of Sale when selling a property.

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Table of Contents

Everything You Need To Know About The Memorandum Of Sale

If you want to sell your house, knowing the process can be helpful when you need to sell your house quickly. A Memo of Sale is an important document that saves time between solicitors, estate agents, auction houses, or a cash property buying company. 

 

 

A Memorandum of Sale or memo of sale is not legally binding, but it is vital in the house sale process because it can speed up the estate agent-to-solicitor communication period.

What is a Memorandum of Sale?

A Memorandum of Sale is a document that confirms the essential legal details of a property transaction during the selling a house process. An estate agent draws it up after a property goes from Under Offer to Sold STC. The Memo of Sale contains as much relevant information as possible:

 

 

  • The address of the property.
  • The agreed sale price.
  • The names and contact details of the buyer and seller.
  • Contact details of the solicitors representing the buyer and seller.
  • The HMRC Registry number.
  • Expected dates for completion and exchange.
  • Whether it is freehold or leasehold.
  • Any special conditions agreed upon as part of the same.

Here is an example of the Memorandum of Sale; the structure could be replicated as a template if you wish to sell privately:

Memorandum of Sale The Property Selling Company

Who issues the Memorandum of Sale?

The estate agent will issue the Memorandum of Sale, which is usually completed within just a few days but occasionally can take longer if parts still need to be included. We advise that the buying and selling parties have all the documentation prepared beforehand.

 

 

It is doubtful that you will be able to see a copy of the Memo of Sale as it contains compassionate information about both parties, which are GDPR protected. The solicitors will sign the Memorandum of Sale.

When is a Memorandum of Sale issued?

The Memorandum of Sale will be created as soon as the estate agent makes and accepts the offer, which will then be circulated by email or post. The document is not legally binding, and changes can still be amended.

 

 

The timescale for the Memo of Sale is not set in stone but is once an offer has been accepted. Usually it can take 24 hours to over a week for the Memo to be completed. It will all depend on how quickly the solicitors can obtain the information.

How long does it take from a Memorandum of Sale being created to completion?

The average house sale through an estate agent takes 2-3 months; however, sales will depend on both the seller and buyer. The Property Selling Company has a network of solicitors that streamlines the process, creating a hassle-free process for you.

The types of Memorandum of Sale?

Depending on the efficiency of the sale process, the type of Memorandum of Sale may change. 

 

If you are selling through a traditional estate agent or privately, the Memorandum of Sale may take slightly longer to complete than a modern estate agency like The Property Selling Company, where the Memorandum of Sale is relatively fast.

 

This is because the sale process may involve negotiations and communication between the buyer and seller and their respective solicitors instead of us dealing with the solicitors on your behalf.

What Happens With Memos At Auction House Sales?

The Memorandum of Sale process also differs when selling a property at auction. Once the gravel falls, the contracts are effectively exchanged. 

 

The seller is then legally committed to the sale and will be required to complete the Memorandum of Sale is then expected to be satisfied immediately, as well as paying the deposits and auction house fees; all checks are then assembled, and the documents are sent to solicitors.

Why Is A Memorandum Of Sale Necessary?

Having a Memorandum of Sale is important because the document enables all the critical house-selling information to be located in one place. 

 

Unfortunately, vast amounts of time are wasted in the back-and-forth communications between estate agents and solicitors, sellers and buyers, so the Memorandum of Sale cancels this.

What Happens After A Memorandum of Sale?

A Memorandum of Sale is a document and the first step of selling a property; once it has been issued, the property listing will be changed to ‘under offer’ or ‘sold subject to the contract (STC)‘. 

 

Once both solicitors have received the memo, the actual house-selling process can begin. The conveyancing process will then start to transfer the property information being completed. 

 

Buyer checks, DIP (decision in principle) or AIP (agreement in principle) will also take place, including reviews on ID and proof of funds from the buyer. The evidence of funds will be a mortgage offer within the last two months and require proof of deposit. 

 

This includes buyers’ checks, conveyancing, searches, surveys, RICS General Condition Reports, RICS Homebuyers Surveys, RICS structural Surveys, Property Enquiries and Exchange of Contracts. 

These can be highly time-consuming, so ensuring you have a company to handle all the stressful parts of the house-selling process is vital. So why not choose us? We will take all the property negotiations and back and forth between solicitors and even pay for it!

Why Is A Memorandum Of Sale Necessary?

The issues after the Memorandum of Sale has been issued are due to the property chain. All parties involved should inform each other of potential complications or delays to minimise the risk of the chain breaking down entirely. 

 

In a property chain the buyer’s or seller’s transaction is dependent on another property sale. If that house sale falls through, perhaps due to someone changing their mind about the property, the rest of the chain will also fall apart. 

 

Some reasons why a Memorandum of Sale will fail are because: 

 

  • The expiration of Mortgage offers.
  • The seller of the property changes their mind.
  • The buyer of the property pulls out. 
  • There are delays in documentation completion.
  • Some issues surfaced by property surveys.
  • There was a slow instruction of solicitors.
  • There needed to be more funding by any involved property.
  • The completion date keeps getting changed.

 

Clear and open lines of communication between all parties involved can ensure that everyone is working towards the same goal and can help to identify and address any issues as they arise. 

 

Another issue is the time frame, as the longer it takes to complete a sale, the higher the risk that the buyer or seller may try to renegotiate the price or back out completely. Buyers and sellers should have contingency plans if the sale falls through, such as lining up alternative properties or buyers in advance. 

 

Communication between estate agents and conveyancers at consistent points in the sales process should reduce the total time it takes for the property to complete. Ultimately patience, flexibility and a willingness to work together are essential to successfully navigating the property chain and completing a sale.

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Conveyancing Fees & Quotes Guide

Conveyancing Fees & Quotes Guide

Looking at conveyancing fees, the average conveyancing fees, and the difference between solicitors and conveyancers.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

Table of Contents

Whether you are buying or selling a house, chances are that you are going to be dealing with conveyancing fees at some point. The amount you will have to pay, the type of conveyancer you use, and are all points you will have to navigate. 

 

In this blog, we will be looking at the average cost of conveyancing, hidden costs to look out for, and how you can sell your property without the conveyancing fees. 

What is the difference between a conveyancing solicitor and a conveyancer?

Whilst a conveyancer and a solicitor complete the same job, there are differences between the two professions. It is the job of your conveyancer or your solicitor to guide you through the process and progress the legal side of your property sale. The real difference between the two professions lies in the specific knowledge that each one holds. A solicitor is a qualified lawyer who has excessive knowledge of a wide range of subjects, is able to tackle complex legal issues, and can offer a full scale of legal services. A licensed conveyancer on the other hand has specialised knowledge of property law but is not as well versed in wider aspects of the law. 

Is it better to use a solicitor or conveyancer?

Whether or not it is better to use a licensed conveyancer or a solicitor is completely down to personal choice. Both conveyancers and solicitors are knowledgeable in progressing property sales, but as selling and purchasing a house is one of the most stressful events in life, it is important you are comfortable with your legal representation throughout. 

What is residential conveyancing service?

Whilst the term residential conveyancing sounds quite complicated, it is actually referring to the process of progressing a house sale. If a conveyancer is residential, then it means that they specialise in the legal side of property sales or purchases. 

What is fixed fee conveyancing?

Fixed fee conveyancing is the same as run-of-the-mill conveyancing except all of the work is being done for a fixed fee. This way, the amount that you are quoted at the start, should be the amount that you pay at the end. A fixed fee conveyancing quote will usually be made up of the following: 

  • VAT

  • Conveyancers legal costs 

  • Estimate for third-party services 

The advantage of using fixed-fee conveyancing is that allows for easier budgeting and allows you to remain informed of the process and how much it will cost, however, surprise charges can still occur and not all agreements will be the same so the solicitor may make a profit. 

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What is no sale no fee conveyancing?

No sale no fee conveyancing is exactly what it sounds like on the tin. It means if your property purchase does not go through, you will not be left paying all of the charges. A lot of buyers and sellers will use a no sale no fee conveyance service in order to save on conveyancing fees. You will have to pay a small deposit, but other than that you will have nothing to pay until your house sale is complete. 

What is online conveyancing?

Online conveyancing works in a very similar way to traditional conveyancing, except it is all performed online. They will still undertake all of the legal work behind your house purchase or sale, but it will usually be for a cheaper fee. Other advantages of using an online conveyancer are that it is usually easier to track progress and they often have flexible working hours. However, on the flip side, you run the risk of falling victim to hidden costs and they may be harder to get in contact with. 

Can I complete the conveyancing process myself?

Whilst it is possible to conduct the conveyancing process yourself, it is not recommended that you do this. Unless the house purchase or sale is a very straightforward process and you are confident that you can understand the legal jargon, paperwork, and documents you will need to send off and sign for. However, you need to understand that any mistakes made will fall on your shoulders, and you could end up facing financial repercussions or even risk your house sale falling through as a result.

What is the average cost of conveyancing fees UK?

According to data from ReallyMoving, the average conveyancing fees in 2023 can range from around £500 – £1150 without including disbursements. Disbursements can add up to £700 more to your bill! 

 

Exactly how much you will pay in conveyancing fees depends upon a variety of factors, such as: 

  • Whether you are using a solicitor or a licensed conveyancer
  • If the property is leasehold or freehold 
  • The price of your property 
  • Where about your solicitor or conveyancer is based 
  • If you are using an online conveyancer 
  • The location of your property 
  • The type of property you are purchasing (Right to Buy, Help to Buy, Shared Ownership, etc)

How much should a solicitor charge for buying a house?

Whilst the exact amount you will pay in conveyancing fees depends upon a wide variety of factors, according to Homeowners Alliance, if you are selling a property, the same research has shown that you can expect to pay an average of £610 – £950.    

 

It is worth bearing in mind that if you are dealing with a leasehold property, then you can end up paying an average of around £300 more. 

What are disbursements and legal fees?

When it comes to conveyancing, the fees that you pay to have your house sale progressed can be split into two groups: legal fees and disbursements. These are categorised as: 

 

  • Legal fees – This is the basic rate that the conveyancer or solicitor will charge for doing the work
  • Disbursements – This is what third parties charge for certain services like searches

Disbursements

These are some of the disbursements you can come across during the conveyancing process: 

If you are purchasing a property, then whether you are using conveyancers or solicitors they will recommend that you get local authority searches done. These searches cover a wide range of areas however they will usually include a drainage search and an environmental search as well as a planning search if you wish to find out if any development has been planned for nearby. These will typically cost between £250 to £450. 

If you are buying a property through the Help-to-Buy scheme, then you’ll have to pay between £200 and £300 for the Help to Buy supplement. This is a fee that is charged due to all the extra legal work involved with the conveyancing work. 

If your deposit has been gifted, you will need to beware that you will likely have to pay extra money to cover the paperwork. This is necessary to prove that the money has come from a legitimate source and can cost up to £100. 

One of the key points in the conveyancing service is the transferal of ownership from the seller to the buyer. This will take place on completion and involves paying between £200 – £300 to the Land Registry. 

When you are selling a property, you will need to obtain a copy of the title deeds to prove you are the registered owner of the property. If you do not have a copy you will need to pay for a new copy, most likely from The HM Land Registry. The average cost of new Title Deeds is an average of £6 however if the property that you own is a leasehold, then you will likely have to pay more than this. 

Your mortgage lender will require the funds on a certain day, so in order to ensure that they arrive on time you will need to use a telegraphic transfer. Your solicitor will be the one in charge of transferring the funds and will charge a fee for the process, as well as the bank’s charge. The bank’s charge ranges from £20-£30. 

If you live abroad or you are a foreign national then you may end up paying slightly more to have these checks performed. These are legal checks to verify your identity and are often performed by online companies. You will usually pay between £6-£20. 

In order to make sure that the company you are hiring to progress your purchase or sale is legitimate, you will need to get a fraud check done. These are usually around £10. 

If the property that you are planning on purchasing costs more than £125,000, then you will need to pay stamp duty. Exactly how much you will have to say will depend upon a variety of factors, so it is a good idea to discuss with your conveyancer. 

If you are using a Lifetime or Help To Buy ISA, then your conveyancer will charge you extra for the work involved, but the amount is capped at £50+VAT. 

In the unlikely event that the property you are selling is unregistered, you will have to get the property registered with the HM Land Registry. This will cost you anywhere from £120 to £140.

Hidden fees and costs

When it comes to a property transaction there are some extra costs you will need to be wary of, as sometimes conveyancers will overcharge you for services you should not have to pay for. These are often disguised as ‘potential additional costs’. 

These are another case of overheads being passed off as additional charges and should be covered in the basic legal fee. If your case involves international phone calls and postage but other than that, this should not be part of the bill that you will need to foot. 

The SDLT is an important document that needs to be filled in and returned to HMRC by law. Even if you are under the threshold for SDLT, you will still need to fill in the form. This is a cost you are going to incur, so be sure to look out for it in your conveyancing quote. Your conveyancer will usually charge around £20-£50+VAT. 

This is called ‘professional indemnity’ and it is a very tricky charge. conveyancing fees cover this in the basic charge and so you should not be made to pay for it. This is an overhead of their business and some conveyancers will try charging you between £50-£100+VAT for it.  

Once your case is completed your conveyancer should hold onto your documents for a set number of years and whilst most will do this free of charge, some will need payment to keep them. If your solicitor wants a fee in exchange for keeping the documentation then it is a good idea to pay them as you never know when you may need them. They will often request between £15 – £50. 

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Can you negotiate solicitors fees?

Negotiating conveyancers fees can be a tricky area, so if you plan to do so you need to be sure you know what you are doing and are well-versed enough in the law to be able to know how much you will need to pay for the progression of your sale or purchase. In the early stages of buying or selling, your conveyancer will give you a quote of how much roughly the process will cost you. It is at this stage that you must look over your quote, check for hidden fees, and compare the number against other law firms. From this, you will be able to access how much negotiation power you have. 

 

If you have already agreed to a quote from your solicitor, then it is unlikely that you will be able to negotiate your end fee. As a rule of thumb, it is a good idea to negotiate your bills before you agree to a quote. 

How quickly can conveyancing be done?

The amount of time it can take to complete conveyancing can vary from conveyancing team to conveyancing team. It depends upon a variety of factors such as the type of property, and complexity of the case. As a good rule of thumb, conveyancing usually takes around 12 weeks to be fully completed but it can be done in as little as 4.

Does the seller pay conveyancing fees?

Both the buyer and the seller will be paying the conveyancing fees, however exactly how much each party will pay depends on what work they need to do in order to progress the sale, as well as the size of the property, and price. As a rule of thumb, the more complex your property transaction is, the more you will have to pay in conveyancing fees. 

How to compare conveyancing quotes?

When it comes to conveyancing quotes, there are things you will need to be wary of. Some conveyancing firms may try and add disbursements that should be covered in your basic fee, by hiding them in the small print or labelling them ‘potential additional disbursements’. So it is important when you get your conveyancing quote that you ask for a full breakdown of the prices involved with the progression so that you can check for hidden costs. 

 

Before you agree to any quotes, you should read over them carefully, checking for any hidden fees and reading about what will be included in the service, as well as shopping around and getting a wide range of quotes from a variety of conveyancers. This way you can get a balanced view of which route is the right one for you. 

Is there a way to avoid conveyancing costs?

Here at The Property Selling company, we believe that selling a house should be three things: fast, effortless, and free.

 

We offer you a full online estate agent service, without the fees – because it’s our mission to change the way you sell houses. 

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete.

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free! 

 

If you are ready to sell your home in as little as 28 days, then get in touch today and fill out one of our fast, free, no-obligation forms for your house valuation today!

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The quickest way to sell a house in 2025

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The quickest way to sell a house

In this article we will cover how quick you can sell your house, the best way to get a quick house sale and how we can help

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

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The quickest way to sell a house

In this article we will cover how quick you can sell your house, the best way to get a quick house sale and how we can help

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

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Table of Contents

If you’re wondering how quickly you can sell your house in England and Wales, you’re in the right place! In this article we’ll explore the factors that impact the speed of your house sale and the best methods to achieve a fast sale.

 

When it comes to selling a house quickly in 2025, there are several options, including sell house fast services, property auctions and quick house sale services. While each of these can speed up your house sale, only quick house sale services can get you close to, if not more than, full market value.

 

Quick house sale services, like those offered by The Property Selling Company, are modern estate agents that provide a fast and efficient way to sell your house. We can help you sell in as little as 28 days and complete within 10 weeks, significantly faster than the 4 to 6 months typical of traditional estate agents. 

 

We offer a full estate agent service, including legal and property marketing, all at no cost to you. In addition to covering your selling costs, we strive to ensure you receive at least 95% of your house’s marketing value. For a £270,000 house, this could mean at least £27,000 more than what a cash buying service would offer.

How quick can I sell my house?

If selling your house via a traditional estate agent, you can expect to spend around 44 days on the market, from listing your house to agreeing on a sale, with houses selling faster than flats, which can take around 62 days. 

 

Then, once you accept the offer, the legal conveyancing process can begin which can take between 4 and 6 months to get your house sale over the line. 

 

The quickest way to sell your house on the open market is to sell through a modern estate agent like The Property Selling Company. We can help you sell your house and complete it in as little as 10 weeks, all while ensuring you get at least 95% of your market value.

The processTime selling with traditional estate agentTime selling with The Property Selling Company
From your house being listed to offer being accepted10 to 12 weeks2 to 10 days
The conveyancing process12 weeks or more8 to 12 weeks
Frome exchange of contracts to completionSame day or up to 4 weeks1 to 14 days
Total time4 to 6 months10 to 16 weeks

The reality is, you could sell your house even faster by using a cash house buyer which can help you sell in as little as 7 days, or a property auction which can help you sell in as little as 28 days, but both mean you may sell your house below market value. 

Need to sell your house quickly?

If your house has been sitting on the market for sometime, slowly building up dust, it can be extremely frustrating. Especially if you take into account the amount of time you’ve spent talking to conveyancers, estate agents, buyers and contractors. In the UK, around 33% of all open market house sales fall through due to delays in the process.

 

As a result, many people are turning away from traditional estate agents, as they perceive it as outdated and uncertain. 

 

As one of the UK’s leading house selling solutions, The Property Selling Company, we have helped hundreds of homeowners move house over the past 6 years of business. That’s without taking into account our parent company, one of the UK’s leading cash buyers, who have helped thousands of homeowners. 

 

We can help anyone in England and Wales sell their home, no matter where they live, what condition their home is in, or what their reason for selling is. Our top priority is to ensure we can help you sell your home in as little as 28 days, for near full market value. 

 

Our process is fast, effortless and free, and you can rely on us to help you get a house price you’ll be more than happy with. When you use our quick house sale service, you are opening your doors to a multitude of potential buyers and potential selling opportunities. 

 

The Property Selling Company offers a quick way to sell on the open market. You can sell your house in as little as 28 days, complete in 2 months, and receive 95%+ of your market value.

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What is the average time to sell a house in the UK?

When you look online for the quickest ways to sell your house, you will be bombarded with different time schedules and time-to-sell statistics. These figures are usually associated with the time it takes to find a buyer and accept an offer.

 

But, accepting an offer is only part of the process; you may be looking at an average of 11 further weeks after the initial offer. Usual timescales across the UK to sell a house are 12 to 21 weeks.

 

Selling a house on the open market can be unpredictable, and much can go wrong, with properties at other companies staying on the market for as long as 40 weeks.

 

At The Property Selling Company, we are a modern estate agent and can help you sell your house in as little as 28 days, help you handle any negotiations and streamline the conveyancing process with our panel of solicitors – which we cover as a gesture of good faith.

What might affect how long it takes to sell a house?

The open market can be an exciting place to sell a house, especially when everything works in your favour. But, many things can often go awry, and sometimes you won’t be able to control what happens next. 

What might delay a house sale?

A house seller’s worst nightmare is a lengthy delay on a house sale, especially if they are part of a property chain, as they will have multiple people waiting on them. Other things which might delay a house sale include:

If you set your asking price too high, you will defer genuine buyers from buying as they will know the market via their own research and understand that you are asking too much for the property and you will be lucky to receive offers at the price stated.

A hot market is when there is a lower-than-usual supply of houses, fast selling homes and steadily increasing house prices, making the market highly attractive for house sellers. 

 

If either of these factors begins to move in the other direction, buyers will benefit more than the house sellers – which could mean your house is sold faster but for significantly less.

Conveyancing is often the longest part of house selling as ensuring the legal work is completed correctly is vital. But, depending on the quality of your solicitors and whether they can communicate adequately with you will vastly improve this part of the process.

 

If you have a solicitor with poor communication skills, the process will likely be drawn out far longer than it should take.

If you have accepted an offer, but your buyer is waiting on their house to sell before they can exchange, this can cause delays to your house selling process. A buyer may also be waiting on a mortgage to pay for your home, so it’s important that you ask for proof of funds before you accept an offer.

The more houses involved in a property chain, the more complicated and tying the process can be. Only one house sale needs to be delayed for it to have a knock-on effect on everyone.

How long does it take to sell a house with no chain?

If you decide to sell your house when there is no chain involved, you may be looking at as little as four weeks to complete, although 12 weeks is the average. But, there are still some issues which can occur:

When you are looking to sell a house quickly, it’s important that you have access to all the necessary documents, like your Title Deeds and that you have surveys carried out; sometimes, these are necessary for mortgage lenders to provide a mortgage.

 

If any documents are missing or damaged, you must instruct your solicitor or mortgage provider, as they may have the deeds on your behalf. Alternatively, you will need to apply to HM Land Registry to register your land, which can dramatically slow the process by at least a month.

If you live in a semi-detached or terraced home, your neighbouring properties can affect the outcome of any offers you receive, because you have a shared party wall. 

 

If your neighbour’s house is in poor condition, or poorly maintained, this may put off potential buyers or even mean potential buyers put in low ball offers as there may be a high risk involved in buying your house – even if your house is spotless.

Leasehold conveyancing can take far longer than freehold conveyancing because your conveyancing solicitor will need to wait on the landlord or leaseholder to respond to their enquiries.

The general rule of thumb is that the best time of the year to sell a house is in early spring. And, the worst time of year to sell a house is on the run up to Christmas. But, this doesn’t take into account any other factors like a hot or cold market. 

 

For example, usually the best time to sell a house would be April through to May, but in 2024, the housing market didn’t experience the same seasonality to the years before. This was partly because of rising interest rates, economic uncertainty, and the announcement of a general election.

The condition and uniqueness of your house can also change the time your house takes to sell. If you have a survey completed and it comes back that you have structural flaws, then you will need to have these resolved or face having to find a new buyer, selling below-market value to your current buyer or the sale falling through completely.

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How does a quick house sale service work?

The quickest and most cost-effective way to sell your house is by using a quick sale service like ours. Our company has a network of pre-vetted buyers, including investors, landlords and regular buyers with pre-approved financing or cash ready. This allows us to help you get a sale in as little as 28 days, while minimising your expenses on solicitors and marketing.

 

This means that the selling process is far more seamless than selling through traditional methods as the buyers will often work on a timeline that works for you. 

 

In most cases, your house will sell for approximately 95% of its market value or more. Our profit comes from the buyer’s purchase price, which takes into account your solicitor fees and our marketing costs. This ensures you won’t incur any losses as a seller, effectively allowing you to sell your house for free.

 

If you are considering the sell house fast route, it’s important that you exercise caution with cash house buying companies. Unfortunately, some of these companies are not entirely trustworthy, and often make grand promises but fail to deliver. Be wary of companies that refuse to show any proof of funding, have no online presence or possess numerous negative reviews.

 

Cash house buyers usually offer between 75% and 85% of your home’s market value. If you can afford to spend an additional 2 to 3 weeks on the sale, consider using a quick house sale service like ours. We can secure 95% (or more) of your market value, all within as little as 28 days. You won’t find a better combination of speed and price!

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Struggling to sell your house? We have the solution

In 2023, only 28% of traditional estate agent houses sold for or above their asking prices, according to the Office for National Statistics. This means that over 70% of houses encountered difficulties in securing buyers at their desired prices.

Why is my house struggling to sell?

While your ability to sell a house successfully depends on factors like size, price, location, tenancy situation and lease terms (if applicable), it’s not entirely within your control. 

 

Over the past year, the UK economy has faced rising interest rates and inflation, a government change, and a lack of seasonality in the markets, all of which have made selling houses increasingly difficult.

 

Although improvements like fresh paint, replacing light bulbs or lowering your asking price can help, they may not overcome external market issues or the inefficiencies of an estate agent or solicitor. Regardless of where you live, a quick house sale company like The Property Selling Company could be the ideal solution. 

How to get a rapid house sale

A quick house sale company is the best way to achieve a rapid house sale, offering a faster process than traditional estate agents while helping you achieve a comparable house price.

 

Traditional estate agents often spend weeks, if not months, negotiating with buyers, conducting viewings and speaking with solicitors, while auction houses may take their time listing your house on their auction. Cash buyers will usually only offer between 75% to 85% of your market value. 

 

The Property Selling Company is one of the UK’s leading quick house sale companies, serving as a modern alternative to traditional estate agents. We help homeowners achieve 95% or more of their market value, complete sales in as little as 28 days, and cover all legal and marketing fees.

How can The Property Selling Company help?

If you are struggling to sell your house, you are not alone. Thousands of people struggle to sell every year. With many traditional estate agents becoming slower, more expensive and less knowledgeable, it’s natural to seek modern alternatives. 

 

And, that’s where we come in. We are a modern estate agent, made for the modern homeowner. We act fast, because we understand your time is valuable. 

 

Our parent company is one of the UK’s leading cash house buyers, and while we can transfer you to them for a sale faster than 28 days, we thrive on a bit of friendly competition. We will do everything in our power to achieve full market value for your home in record time, providing greater value and speed than any of our competitors.

 

We cover all costs usually associated with selling your house, including legal fees, our commission, marking fees, photography and more. You won’t have to pay a single penny for our service.

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What situations can we help you sell your house quickly?

Are you going through a divorce? Starting to plan for your retirement? Want to upsize or downsize your home? Whatever your reason for looking to sell quickly, here at The Property Selling Company, we can help you fulfil high selling prices at record speed:

One of the most common reasons people choose a quick house sale service is to sell a house due to divorce or separation. Often, the owners prefer to avoid a prolonged estate agent sale, opting instead for a quick transaction. 

 

This allows them to quickly move on with their lives, get as much profit as possible and equally divide the equity in the house before finalising divorce proceedings.

Many people in their late 50s decide to sell their house to fund their dream retirement. Whether it’s to embark on lifelong cruises, buy new golf clubs, become a national gardening treasure or purchase a villa in the south of France, we help maximise their profits in as little as 28 days.

If you’re looking to downsize your home, selling to a quick house sale estate agent is your best bet. We can help you sell your current house, maximise your profit, and assist you in buying a smaller, beautiful home. You may even have some equity left over to improve your quality of life.

As mentioned earlier, flats are one of the slowest-moving property types, often taking an average of 2 more weeks to sell. However, with our network of buyers specifically looking for flats, we can help you get that sold sign up much sooner.

When a house sale falls through on the open market or a property chain collapses, it can significantly disrupt your life. Often, the reasons for a sale falling through are beyond your control, stemming from the buyer’s side. If this happens, we can step in and help. 

 

The Property Selling Company can quickly find a new buyer for you, covering all legal and marketing expenses. This means you won’t face additional estate agent commissions.

If you’ve recently inherited a house from a loved one and are looking to sell, we can help. Our dedicated progressions team is integral to our process and can guide you through the probate process while securing a buyer for when probate is granted.

 

If your probate has already been granted, we can help you find a buyer in as little as 28 days, ensuring you get the most profit possible.

Whether you’ve secured a new job across the country or want to move closer to your kids at university, we can help you relocate quickly, facilitating a sale in as little as one month. While a cash buyer might offer faster moving times, you could miss out on over 15% of your home’s value. For a £270,000 house, this could mean losing more than £40,500.

While selling a house as-is isn’t usually recommended on the open market, we can help you find a buyer. Our range of house selling solutions targets our extensive database to connect you with the right buyer.

 

We work closely with our house auction branch, allowing you to sell your house as-is on our property auction platform. If you prefer not to sell via auction, we also have pre-vetted buyers who are constantly looking for renovation projects.

If you’re looking to upsize your home quickly, we are your best options. We can help you sell your current house in a little as 28 days while achieving near full market value. With your own cash funds, you can easily upsize your home. Alternatively, consider moving to a slightly cheaper area to optimise your profit and buy a larger house for the same price as your current one.

There are many reasons why landlords are exiting the market, such as changes to government regulations like the abolition of Section 21, or decreasing profitability in renting. At The Property Selling Company, we can help you sell your tenanted property quickly while maximising your profit. 

 

We can even buy your house with tenants in situ, meaning you won’t need to handle the eviction process yourself.

Whether you have a few properties in the South of London or a larger portfolio in the North East, we can help you sell your property portfolio quickly and find the right buyer(s) to secure your investment.

 

Whatever your reasons for selling, we can help you maximise your profit and get funds in the bank far faster than selling through a traditional estate agent.

What are the benefits of The Property Selling Company’s sell house quick service?

  • No hidden costs
  • Sell in as little as 28 days
  • On average, our sellers receive 93.14% of their market value.
  • We sell houses across England and Wales
  • We cover all your legal and marketing costs
  • Sell any type of house, no matter its condition

Frequently Asked Questions about selling your house quickly

You can sell your house in 28 days by using a quick house sale service like The Property Selling Company. We have a network of pre-vetted buyers and a streamlined process to ensure a fast turnaround, helping you to achieve a quick house sale, while getting the best price on your home.

The cheapest way to sell your house quickly is by using a quick house sale company that covers all your selling and legal costs. At The Property Selling Company, we cover legal fees, marketing expenses, and our commission, ensuring you don’t have to pay any out-of-pocket expenses.

Some house sales can complete in as little as a day, but most will take a couple of weeks, if not a few months. However, using a quick house sale service, like ours, you can generally expect to sell your house in around 28 days, and complete within 10 weeks.

The best website to sell houses in the UK varies depending on your needs. For quick sales, The Property Selling Company offers a full estate agency service with no hidden costs, while using Rightmove and Zoopla to advertise your property to 98% of all potential buyers.

The cost to sell a house can include estate agent fees, legal fees, marketing expenses and much more, usually this can be atleast 5%+VAT of your house selling price. However, with The Property Selling Company, we cover all these costs, meaning you can sell your house for free.

The Property Selling Company helps sell all types of houses, including detached, semi-detached, terraced, flats and even tenanted properties. We tailor our services to meet the needs of each property type, and to every customer.

To ensure a quick house sale company is legitimate, check for reviews, make sure potential buyers have proof of funds, verify their online presence and make sure they are transparent about their processes and fees. The Property Selling Company is a reputable service with a proven track record, selling houses for over 6 years.

A quick house sale service focuses on completing open market sales rapidly, often within as little as 28 days, and covers all associated costs. A sell house fast service also aims for a fast sale but works on a 7 days timeline and is usually offered by cash buyers who will buy your house for significantly below market value.

Modern estate agents are for the modern homeowner. They are an excellent choice for many, offering faster transactions and lower costs compared to traditional estate agents. The only type of buyer modern estate agents aren’t suitable for is people facing repossession, in this case we would recommend contacting a property auction.

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What Does SSTC Mean?

What Does SSTC Mean?

Looking at what SSTC means in a property sale means, what happens if a house is sold subject to contract, and how it can affect both buyers and sellers.

Alexandra Ventress

Alexandra Ventress ★ Digital Content Writer

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Whether you are buying or selling a home, the term SSTC is one that you need to get familiar with. Whilst you may have accepted on offer, or had your offer accepted, there is still a long way to go in the house-buying and selling process. 

 

But what exactly does sold STC mean and how will it affect your sale? 

 

In this blog post we will be looking at what sold subject to contract means, how it can affect you as a buyer and as a seller, and what it means for your house purchase or sale. 

What does SSTC mean?

If a property is marked as SSTC or as STC it means the same thing, that property is ‘Sold Subject To Contract’ and that the owner of the property has accepted an offer but it is not yet legally binding. After a property has been marked as SSTC the seller and the buyer will begin the conveyancing process and put in the groundwork towards the exchange of contracts. Up until the contracts are exchanged either the buyer or the seller can pull out without legal consequences. 

 

 

When it comes to the cost of the property, the price may have been negotiated before or this may happen whilst the property SSTC. This could be the result of an issue pulled up in the survey results. It is also worth noting that some estate agents will use the term ‘sale agreed’ instead of sold SSTC. 

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What does sold subject to contract mean for the buyer?

If a house is sold STC, it means you have made an offer on a house and that offer has been accepted by the seller.  After your offer has been made and accepted, it is time to instruct your solicitor. One of the first steps of this process involves your solicitor examining your draft contract and supporting documents and raising any enquiries you may have with the seller’s solicitor. You will need to look over all of the forms that your seller will have completed, and pass on any concerns or questions you may have to your solicitor. Your solicitor will be able to apply for the necessary property searches when you purchase a property, regardless of whether it is stc or not. 

 

At this stage in the buying process, it is also a good time to book a house survey to. Not only will it show the seller that you are a committed buyer, but it will also highlight any issues in the property before you are legally committed to buying it. 

 

It is also a good idea to get the property listing marked as SSTC as soon as possible as this is a good way to avoid gazumping. 

What does sold subject to contract mean for the seller?

If you are a seller and your property is SSTC, then you will have accepted an offer on your house. Once the buyer has provided here proof of funds, you will be able to request that your home is listed as SSTC. Your property will still appear on property portals unless the buyer requests that you remove the property from the site and you agree. Once you have listed your home as SSTC, a ‘ sold STC ‘ sign will replace the ‘For Sale’ sign outside your home. 

 

Whilst you may have a buyer in the pipeline, the work is far from over. There will still be various forms, documents, questionnaires, and paperwork that will need to be filled out, and you will need to provide the buyer with all the information about the property and the sale. 

 

You will also have to negotiate the draft via your solicitors, as well as work with the buyer to decide upon a timeline between exchange and completion as well as fixtures and fittings will be included. 

Can I make an offer on a house that is SSTC?

If you find the property of your dreams, but it just so happens to be a house that is sold stc, then fear not. Whilst the seller has accepted an offer, it does not mean they wouldn’t be open to a higher offer. Estate agents are legally obligated to pass on all offers unless the seller has asked them not to do so.  If another party swoops in and offers a higher price for a property when an offer has been accepted, it is called Gazumping. It is not a particularly nice or fair tactic on the housing market; however, it is incredibly common. 

 

 

When a property is gazumped, it is usually because a higher offer has been made, however, this is not always the case. Gazumping can also occur in house sales where timing is becoming an issue. If your solicitor is dragging their feet, or if selling your own home is taking longer than anticipated, you may find the seller accepts the other offer in favour of a buyer who is in a better position. 

 

 

As a sale is not legally binding until the exchange of contracts, which occurs quite late in the house-selling process, buyers can find themselves out of pocket the later on in the process that they are gazumped. This is why it is a good idea if you live in England or Wales to take out home buyers insurance to protect you in case your dale should fall through. 

 

 

If you spot a property that you like, you should register interest in the property with the estate agent in case that the sale should fall through when it is SSTC. According to data from Rightmove, around “15% of Sold STC or under offer properties” are back on the market after the sale falls through.

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Can I avoid Gazumping?

Whilst unfortunately there is no sure-fire way to guarantee that you won’t get gazumped, there are steps that you can take to help lessen your chances:

By taking the property off the market, you are reducing the number of potential buyers who may see it and gazump you. However, sellers are not always keen to do this so it is wise to offer something in return, such as getting the survey done as soon as you can. 

Acting quickly and being prepared are two of the best ways you can help to protect yourself against gazumping. Before you go in with your offer, it is a good idea to have your mortgage in principle finalised, as this will show the seller that you are a serious buyer. You should also have your conveyancing solicitor lined up and ready to go, as well as keeping all the necessary documentation you may need to hand. Once your offer on the property has been accepted, you should aim to keep in regular contact with both your conveyancer and mortgage broker so that your case progresses as fast as possible. 

As we have already mentioned, insurance is a great way to help protect you in case the worst-case scenario does happen. By taking out home buyers’ insurance, you will be able to recoup some of the loss you will face for surveys, solicitors fees, and any other costs you may have had to pay. 

 

Can a house that is sold subject to contract fall through?

As with any house sale, the sale of an SSTC property can fall through. Some of the most common reasons why an SSTC or sold STC property sale may fall through is because: 

  • The buyer cannot secure a mortgage 

  • The buyers’ property chain has collapsed 

  • Unforeseen problems have been highlighted in the housing survey 

You can help to avoid your property sale falling through by being clear and open upfront about the condition of the property, whether you are in a housing chain or a cash buyer and answering any enquiries as promptly as possible. 

How long does it take to go from sold STC to completion?

According to data from Rightmove, it takes an average of 150 days from when a property is marked as ‘sold subject to contract’ to reach completion. This figure is not set in stone though, as how long it takes to complete the sale will depend upon a variety of factors, such as how long it will take you to arrange your mortgage, how long it takes property searches to come back, and how complex your property chain is. 

How we can help

Whether you are trying to buy a house that is SSTC and need your own property selling quickly, or you are looking for your next property whilst your is STC, then we are here to help. Here at The Property Selling Company, we specialise in fast, effortless, and free sales, because we believe that buying or selling a home shouldn’t be complicated. 

 

We will be working alongside you every step of the house-selling process, covering everything, so you won’t have to. The days of expensive solicitor fees and legal work are over, and our team of property experts will continue to be there, even after the process is complete. 

 

We will market your property on popular property portals such as Rightmove and Zoopla, organise viewings, cover legal fees, and negotiate better deals all for free! 

 

So, if you are looking at purchasing a house marked as SSTC, or you are looking to find your next home, we can help you get sold in as little as 28 days! Fill out one of our fast, free, no-obligation forms for your house valuation today!

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Selling A House For Cash: Is It A Good Idea?

selling a home for cash

Selling a house for cash: Is it a good idea?

A third of all house sales are done via a cash buyer, but are they a good idea for you? Find out below for more…

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Selling a house for cash: Is it a good idea?

A third of all house sales are done via a cash buyer, but are they a good idea for you? Find out below for more…

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Table of Contents

Selling A House For Cash: Is It A Good Idea?

If you are wondering if selling to a cash buyer is a good idea in England and Wales — you are in the right place! In this article we will delve into all things cash house buyers.

What Is A Cash Buyer?

A cash buyer can finance their purchase of your property outright, with no requirement for a mortgage or loan. Technically speaking, a cash buyer should have enough money to buy your property at the time of offer. 

 

Cash house buyers account for a third of the residential property sale market and are often a good choice for people struggling to sell on the open market or have hit unforeseen circumstances and need to sell quickly.

Is It Illegal To Sell A House For Cash?

It is an entirely legal process to sell your house for cash in the UK, but we recommend that if you choose this path, you choose a cash-buying company with excellent reviews and a reputable track record.

Should I Use A House Buying Company Or An Independent House Buyer?

As with all aspects of the property market, there can be high risk as some cash-buyers aren’t members of the National Association of Property Buyers (NAPB) or The Property Ombudsman (TPO), which help regulate the market and protect customers.

 

Obviously, we would recommend that you use neither and choose us instead! We can sell your house in a fraction of the time of a traditional estate agency and cover all your costs! We are also members of NAPB and TPO, ensuring that our level of customer satisfaction is excellent at all times.

Why Would Someone Sell A House For Cash?

Selling to a cash buyer is often seen as the fast-track way to sell your house, as there’s usually less paperwork, and you aren’t waiting on any property chains on the buyer’s side. There are many reasons why someone would want to sell their house for cash, but the process comes with high risk.

 

This is why in most cases, cash buyers will buy significantly below market value to renovate the building against the remaining value:

If someone tries to sell on the open market, occasionally buyers may be put off by a properties location as a mortgage lender can refuse to lend if the property is seen as undesirable or unsafe due to:

 

  • Close to old or unsecure mines.
  • Land with risk of a landslip.
  • The property is a formal petrol station.
  • The property is in a high-risk flood area.
  • The area has a high crime rate.
  • The site has previously been used for industrial purposes. 

A property can put potential buyers off if revealed as damaged in any surveys. Damaged properties can come in many different forms, like Japanese Knotweed, Dampness and Structural Issues:

 

What Is Japanese Knotweed?

 

Japanese Knotweed is an unstable, rapidly spreading weed that can grow through solid ground and disrupt house foundations. Mortgage providers will not lend on a property that has Japanese Knotweed.

 

What Are Structural Issues In A Property?

 

Structural issues like roof damage, subsidence or severe dampness can lead to a need for serious investment which is why these properties are often sold to cash buyers below market value. This will allow cash buyers to spend the remainder of the weight on the property’s renovation.

 

Houses built before 1960 are often classified as older buildings, older than 1914, and will be listed property. Most older buildings are the preferred choice for cash buyers because they have deteriorated conditions or the energy efficiency is significantly below the norm, meaning they can buy below market value.

By selling to a cash buyer, you can sell your property for between 7 days and multiple weeks — depending on the company’s professional service.

 

Selling to a cash buyer may be a great way if someone needs to sell their property quickly, like to stop a repossession.

Infographic showing all the reasons why someone would sell a house with a cash buyer.

What Types Of Vendors Seek A Cash Buyer?

A vendor can be a person or company offering a house for sale, and usually, when it comes to obtaining a mortgage, using a cash buyer can be one of the best routes to purchase. 

 

Here are some of the main reasons why cash buyers affect mortgage decisions:

This is why in most cases, cash buyers will buy significantly below market value to renovate the building against the remaining value:

A mortgage lender will not agree to lend any money until they can confirm that the property is sound and that the borrower can meet their repayment obligations — which is quite time-consuming. 

 

Usually, a cash buyer already has the funds available at the point of offer, removing the need to wait on a mortgage.

Legal mortgage providers cannot offer a mortgage to a borrower they don’t trust to make the mortgage payments. When a mortgage lender turns a potential buyer down, vendors face a conundrum: they must put their property back on the market. 

 

This is why vendors tend to use cash buyers for the purchase of their homes as they attempt to avoid a broken property chain.

What Is The Process For Selling Your House For Cash?

The process of selling a home to a cash buyer is similar to the traditional route of selling a property without the need for arranging a mortgage. The sale process is often favoured due to its quick house sale approach.

 

The actual procedure will depend on the company or cash buyer you decide to use, but here is a general guide:

Most online cash buyers have a website where you can sign up and fill out a few forms. Alternatively, if you choose an independent cash buyer, they may have a phone number to ring. 

 

We recommend constantly checking their Google or TrustPilot reviews to get an accurate and recent overview of the companies and help you avoid scams.

Most cash buyers will then offer you a cash offer for your property based on statistics and their own going rates. They should usually be below market value, but some companies will give you market value and then reduce the costs later — sneaky!

 

At this stage, you must ask for proof that they are a genuine cash buyer and have the funds in the bank to pay for your property via a bank financial statement. If the buyer cannot prove they have the funds in the bank, they are not a cash buyer.

Once you have accepted your offer, a cash buyer should then visit your property and be able to inspect the property and undertake a property valuation — finalising your offer. 

 

Although cash buyers do not need a mortgage valuation survey, they may still opt to have a survey completed; this will usually be covered for you or part of a package. 

 

If a cash buyer does not opt for a survey, this can be seen as a red flag, as when problems arise later down the line, they will try to reduce the purchase price.

Depending on the cash buyer, you will either have to instruct your solicitors or the cash buyer will handle this for you. The solicitors will arrange searches and professional valuations of your property.

 

The searches of your property will include a Local Area Search, Regulated Drainage and Water Search and Land Registry Title Plan.

Once all the legal work has been completed, you can look to exchange contracts. This is the point at which the process becomes legally binding. Again, depending on the cash buyer, you may also be able to complete it at this stage, although most like doing it on a timescale that suits them.

Questions For Genuine Cash Buyers

If you decide you want to risk it and sell your property via cash house buying company then here are some questions you can ask to ensure they buy your house smoothly:

Genuine cash buyers will be able to provide you with proof of funds — legitimate house buying companies should be aware of this concern and factor it into their service. Proof could be provided either as a bank statement or solicitor’s letter.

Genuine cash buyers will know exactly what kind of properties they are looking for, they will often have investors or themselves who specialise in a certain type of building. If your cash buyer is uncertain then this could be seen as a red flag.

Some non-genuine cash buyers will buy property on behalf of third parties so it’s important to check that you aren’t signing an option agreement. This will tie you into working with the company for a specific amount of time. 

 

Although, this rule doesn’t apply if the cash buying is buying property for another branch of its company.

A genuine cash buyer will have a thorough understanding and process to buying your property as they will have a proven track record. If the cash buyer you are enquiring with does not have a process in mind then this should be flagged as a possible scam.

Most reputable property selling and buying companies will be members of professional bodies like the National Association of Property Buyers and The Property Ombudsman which help regulate the customer service experience of cash buyers.

If you don’t want to bother with the risk of a cash buyer and want a smooth, hassle-free house sale for almost full market value then get in touch today!

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Is It Better To Sell Your House To A Cash Buyer?

It depends on your situation and timeframe. If you are in desperate need of cash to stop a financial crisis like repossession or divorce, then using a cash buyer can be a viable option. 

 

But, you must know that a cash buyer will buy your home for Below-market-Value, up to 25%, depending on the cash buyer. Some cash buyers will slam you with additional packages, which are necessary for selling your property.

Is It Good To Sell A House For Cash?

Selling a house for cash can be good in some circumstances. The majority of people who benefit from a cash sale are often:

Selling a house for cash means that people can receive access to money and fast to clear their debt or arrears. This is done by a fast house sale allowing the seller to withdraw their equity and cover their debt.

Selling a probate or inherited property can be extremely overwhelming, but selling to a cash buyer can ease the process by speeding up the process.

Some people undergoing or have just gone through a divorce may want to sell their homes and move on positively. Cash buyers can aid in this by providing a faster-than-average sale.

Are There Any Disadvantages To Selling My House For Cash?

There are plenty of disadvantages to selling your house fast, especially when you compare the services to a company like ours.

 

The main issue with selling a house for cash is that you will be dealing it below market value — with some property cash buyers, this can be up to 25% of your home. That’s a significant mark on the value you will receive. If you sold your house with us, you would receive the total selling price of your property. 

 

Some cash buyers drive such a hard bargain on your property because they take advantage of your situation. Which is partly due to the fact that cash buyers are not regulated like estate agents.

 

We recommend that you ensure the cash buyers are members of the TPO or NAPB and you look at their online reviews to catch any scams. We will work with you on a timescale that suits your needs to ensure you are looked after at every step. 

 

Gazundering is a massive issue in unregulated cash buyers as they reduce their offer on your property right at the last minute, which will force you to accept the lower sale price or pull out the deal altogether. 

 

Cash sales can still fall through, like most other avenues to selling. Usually, they can fall through when the survey reveals problems in your property. Instead of dropping out of the sale, we will help you find a new buyer specialising in problematic properties — also, surveys are on us!

 

One of the cash buyers’ most prominent attractions, it’s faster-than-normal sale can also be one of its flaws. We agree that in some circumstances, like a repossession or financial emergencies, this can come into clutch, but on the whole, most cash-buyers aren’t faster than us. 

 

Unlike most cash buyers we will also help you buy properties as an onwards purchase. We have hundreds of properties available on our database so we can help you buy another property without all the hassle of using traditional estate agents.

 

We can buy your property in as little as 28 days and cover all the costs usually associated with selling your house, from surveys to marketing. If you can afford to spend slightly longer with us, you could gain up to 25% more than you would have got with a cash buyer.

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