We Buy Any House Scams (We reveal their top tricks)
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We buy any house scams: how to spot them
According to government research, it takes an average of 2-3 months to sell your home in the UK. If you’re looking to sell your house fast, you might have checked out various quick house sale companies. Many homeowners consider using the services of “buy any house” companies after experiencing the pull-out of a potential buyer during a pivotal moment of a sale. However, are these firms too good to be true? Or do they offer a worthwhile service to those who need to secure genuine cash buyers? In this article, we’ll provide an insight into the top “we buy any house” scams. From here, you’ll learn how to tell if property buyers are legitimate and trustworthy.
A We Buy Any House company’s reputation matters
Before getting involved with property buyers, estate agents or a “sell my house quick” company, you should check out their credentials. One of the easiest ways to do this is to check out whether they, like us, are a member of the Property Ombudsman scheme. This scheme is free, fair and impartial, and was created to independently review complaints made against landlords, property buyers, sellers and estate agents. If a company is confident in their work, you can guarantee they’ll be a member of this and other similar schemes like the National Association of Property Buyers. Remember that a simple web presence doesn’t mean a company is legitimate. Many unscrupulous firms use misleading online advertising to lure potential victims in.
Are you cutting out the middleman?
Beware of the broker scam. A lot of ‘quick sale’ organisations are merely middlemen. These companies will take your information and pass it on to a third-party while taking a percentage of the sale. This means you won’t be getting as good a deal as you would if you worked directly with a property sales company.
Does your home buyer company have an office address?
All legitimate “buy any home” companies will have an office address. This should be easy to locate with a simple Google search. Sometimes, the company might be an offshoot of an estate agent or letting agency, but the important thing is that they have a proper company address where you can make a face-to-face appointment if you wish.
Selling your property: how quickly can they buy your house?
Another way to find out whether a company is legitimate is to assess how long it will take them to purchase your property with a cash offer. A good-quality quick sale company should be able to buy your property with cash funds within seven days. If they offer you a longer timescale, it could mean they’re operating as a broker (as mentioned above). This should set alarm bells ringing – don’t fall for it. You don’t have to become another victim of the many “buy your house quickly for cash” scams on the internet.
Is the company offering a sale and rent back scheme?
If you’re after a quick sale because you’re facing potential repossession of your home, a property buyer might offer you a sale and rent back scheme (known as a SARB). This is when a company purchases your property before renting it back to you. This is not to be confused with the government Right to Buy scheme. For those facing financial difficulties, this arrangement might seem like a dream come true. It means no longer having to keep up with mortgage payments while staying in your current home. This might seem like a good deal, but you will lose any rights you had over your property as a homeowner. You could even be asked to leave the property after just six months, which could put you in an even more difficult situation. If you must enter a sale and rent back scheme, only do so with a buyer that is registered with the FCA. This is the only way to ensure that your SARB is correctly regulated.
Is your property buying company open and honest?
Before getting in touch with a potential home buying organisation, it’s a good idea to make a note of any questions you’d like answered. If a company sounds like they’re hiding something from you, consider taking your business elsewhere. A reputable company will be open, honest and upfront regarding any queries you may have.
Common sense: does the offer sound to good to be true?
As the old saying goes: if it sounds too good to be true, chances are that it is. Cash offers that go well beyond the current market value of your property will sound enticing, and that’s because they’re designed to lure you in. While there are lots of advantages to using a property buying company, it’s an established fact that doing so means you will profit slightly less on the sale of your home. Of course, this is counteracted by the convenience of a speedy transaction in comparison to using a traditional estate agent or selling your home at an auction.
How to know your property buyer is legitimate
Here at We Buy Any Home, we understand that time is of the essence when you’re looking for a rapid home sale, and that you might not want to waste days on Google checking out reviews. Therefore we’re open and transparent about how we operate – and this is how you can trust us to offer you a great deal and a fast service:
• After contacting us, a member of our experienced team will be in touch ASAP. We’ll provide you with a cash offer for your home as quickly as we can. • If you decide that you want to accept our offer, we’ll deal with the administrative processes involved free of charge.
• We’ll even cover your legal fees.
• We’ll communicate with you at every step of the process and offer you a completion date which will never extend. Any company that takes longer is ultimately operating a “broker” scam.
• We guarantee that your sale will go through, allowing you to enjoy your freshly earned funds in whatever way you see fit.
Our tried-and-tested process means you can sell your home for a fantastic price! If you’d like more information on how we can help you achieve a rapid sale on your property, please do not hesitate to get in touch via our online contact form. Once we receive your query, a member of our friendly and experienced homebuying experts will be happy to discuss the sale of your property.
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