Cash buyers will always need to buy your property at a discount. We can pay up to 85% of full market value for properties, with our current average cash offer being at 82.5%. The discount we apply is not fixed. We assess each property on an individual basis and always offer the most money we can for your house.
Any cash buying company claiming to be able to buy your house at 90% and upwards is not a genuine property buyer, as it is not possible to cover costs at this level. Instead, they are likely to be posing as cash house buyers while acting as a broker or lead generator for an estate agency.
Because the quick house sale industry is not regulated, it can be hard to establish who the genuine cash buying companies are.
As a genuine home buying company, there are many overhead costs we need to take into consideration:
- Stamp Duty
Every company must pay an additional 3% stamp duty on top of the current rates for each band. Cash property buyer businesses are included in this. For example, on a £230,000 property, we pay £9,000 to the government.
- Legal fees
We cover all legal fees. This includes conveyancing for both parties. There are no fees or contracts for using our cash home buyer service. Any cash home buyers that charge you a fee or ask you to sign a contract is a red flag you are not dealing with a genuine home buying company.
- Business overheads
Business overheads – as a genuine house buying company, Quick Move Now has an office, staff, and advertising costs.
- Resale risk
Once we have purchased your property, we take on the risk of market fluctuation. If prices fall due to the economic or political situation, it is our issue.
- Costs of ownership
All ongoing costs relating to ownership of the property are paid by Quick Move Now, including maintenance, utilities, council tax, estate agent fees to re-sell the property, insurance and bank interest.
- Renovation costs
Quick Move Now will manage and pay for any work that is required on the property.