Who are Upstix
Upstix are a relative newcomer, having only been established in 2021/2022.
What services do Upstix provide?
Upstix offer a quick sale and chain-break service. They differentiate themselves by using online technology and algorithms to value your property, rather than independent estate agent valuations. They claim this enables them to make quicker offers.
What is the buying process for Upstix?
According to their website, the buying process with Upstix follows a similar route to other property-buying companies.
Step 1: You can fill out an online form or call the company to provide some information about the property you want to sell. Upstix say they will provide you with an offer in principle within 24 hours.
Step 2: An independent RICS-qualified surveyor will assess and value your property.
Step 3: Upstix will complete the necessary paperwork and complete the sale. You only need to pay for conveyancing fees.
How much below market value do Upstix offer?
Their website suggests Upstix typically offer around 15% less than market value for a quick sale.
Pros & Cons of Upstix
Upstix - Positives
- UK-based company
- Members of The Property Ombudsman (TPO) and National Association of Property Buyers (NAPB)
- Reviews suggest they do buy some properties directly.
Upstix - Negatives
- Small number of reviews due to the company only being active a short time. Many of the positive reviews are from homeowners who either decided not to sell to Upstix or who are still in the process of doing so. This makes it difficult to assess how good Upstix are.
- Company registration number not visible on website – difficult to do your due diligence.
- Upstix use online technology and algorithms to calculate your property’s value, rather than independent estate agent valuations. The company suggest their use of computer-based valuations is beneficial to customers as it makes the offer process quicker. Unfortunately, reviews suggest it actually means a high chance of your offer being reduced when the property survey is carried out.
Responding to one review, Upstix say: “Unfortunately, many of our offers do face down-valuation during the RICS survey stage.”
Is Upstix legit? - Our verdict
Upstix customer reviews suggest that the company enables homeowners to sell more quickly than via an estate agent on the open market. One review mentioned completing in ‘less than 5 weeks’, another said they exchanged in just over 3 weeks, and a third said they were able to complete in 7 weeks. None of the reviews suggested that a sale had been completed in as little as a week (the timeframe advertised on their website), but that could be down to customer-dictated timescales. One slight note of caution: one review did mention Upstix needing a response from ‘the finance company’ involved in buying the property. This suggests they may rely on third-party funding, which would inevitably have an impact on the timescales and certainty they’re able to offer.
The biggest challenge for Upstix is how long they’ve been running. The company is still a relative newcomer to the quick sale market, which means customer reviews and financial information are limited.
We couldn’t find Upstix’s company registration number on their website, which meant we were unable to find them on the Companies House website. A search for ‘Upstix’ delivered results for a company based in Preston – more than 200 miles away from the office address listed on Upstix’s website, so it’s difficult to know whether it’s the same company. We always encourage homeowners to do their due diligence on any quick sale company they’re considering using, which is challenging if the company information is difficult to find.
Are Upstix any good?
Many online reviews are positive about how polite and helpful Upstix staff are, even from customers who chose not to use their services. This suggests they are pleasant to deal with.
Our biggest challenge with Upstix is the lack of information available on them. This can be accounted for by how long they’ve been operating, but it still makes it difficult for potential customers to assess whether they are any good or not. A large percentage of customer reviews are from homeowners who either decided against using Upstix to sell their property or who are at the early stages of the process. This makes it challenging to get an overview of how they perform.
We also have concerns about how accurate their ‘iBuyer’ service – which uses technology to value properties – is. They claim their use of technology is beneficial to the customer because it allows them to speed up the buying process, but some reviews would suggest that homeowners aren’t given an accurate offer until after the property survey has taken place. This could lead to disappointed customers who have based their onward plans on the initial offer made.
Really poor offer. My house is currently for sale with an estate agents, listed at offers in excess of £230k.
Did a valuation out of curiosity and came back with £155k, are you joking! Definitely would not recommend selling through them, give an extremely low offer so they can make a high profit leaving you the one that’s lost out on a lot. The lengthy time of selling and few headaches from being in a chain is well worth the extra £75k
completed the information as Upstix required, they promised to provide an instant valuation which did not happen, then they sent me a couple of automated emails which I responded to, still no response at all from Upstix. I can only review the actual contact I have with them, not what is promised and then not delivered, (EDIT following upstix response) – none of the emails you have sent me have featured a ‘range’ at all.
Offer was quite good if it ultimately stayed at middle to higher point. Not sure what it would have ended up being as house still up for sale and we are not desparate to sell.
Not entirely convinced about the usp of giving seller a share of any profit on eventual market sale…cant imagine it would be much after selling/legal expenses and any profit they keep.
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Upstix customer reviews
Upstix Reviews Trustpilot
Trustpilot Score: 3.9 / 5
The biggest challenge with Upstix Trustpilot reviews is the small number of them and that a significant proportion of them appear to be from homeowners who have either decided not to use Upstix to sell their property, or who are still in the process of doing so and therefore unable to review the entire process.
Positive reviews are complimentary about a few individual members of staff and the level of information given, but several more negative reviews mention their offer being reduced late in the property sale process.
Upstix Reviews Google
Google Score: 3 / 5
Again, we struggled with the small number of customer reviews. The comments lefts suggest that at least 3 out of the 4 reviewers didn’t sell their property to Upstix. The final review is unclear about whether they achieved a quick sale to Upstix or not.
With such a small number of reviews, it’s very difficult for homeowners to assess whether Upstix are any good.
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Compare Upstix with Quick Move Now
| Quick Move Now | Upstix | |
|---|---|---|
| Established since | 1998 | 2021/2022 – we found conflicting information on this. As the company haven’t published their company registration number on their website, it’s difficult to find a definitive date. |
| Annual turnover | £20.3 million | We couldn’t find Upstix on Companies House. |
| Members of any professional associations or redress schemes? | Yes, Quick Move Now are members of The Property Ombudsman (TPO) and the National Association of Property Buyers (NAPB) | Yes, Upstix are members of The Property Ombudsman (TPO) and the National Association of Property Buyers (NAPB). |
| Is the company registration number available on the website? | Yes | No |
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Frequently Asked Questions About Upstix
Upstix’s website suggest that they typically offer up to 85% of market value.
Upstix say they use “smart technology and an expert algorithm” to give you a fair and competitive offer for your property, and that they consider local markets, location, condition and the size of your property.
In their FAQs, they also say that they also use an independent agent to validate their valuation.
No, Upstix say they do not charge any fees for their service.
This is unclear. The ‘about us’ page of the website suggests that you are asked to cover your own legal fees, but their FAQs page says they will cover your legal costs. It’s important to clarify this point with them if you decide to explore a sale to Upstix.
Upstix say they can complete a sale as little as 7 days after your solicitors have been instructed.
Upstix claim to be genuine direct cash buyers.
The property buying industry is unregulated, but companies can voluntarily join professional organisations and redress schemes. Upstix are members of The Property’s Ombudsman and the National Association of Property Buyers .