What is a professional home buyer?

a professional home buyer

Despite growing hugely in popularity over the last decade, many people still aren’t really sure what a professional home buyer is.

Here we answer all your questions, including ‘what is a professional home buyer?’ and ‘how can a professional home buyer help me sell my house?’

What is a professional home buyer?

A professional home buyer is a company that has its own cash reserves, enabling them to buy your property, for cash, in as little as 7 days.

How can a professional home buyer help me sell my house?

By being able to offer you a guaranteed cash home sale, a professional home buyer can offer you a secure sale, for a guaranteed price, on a date of your choice.

This enables you to plan both your time and finances accurately.  It also effectively makes you a chain-free buyer, giving you great negotiating power for any onward move.

What’s the catch?

There’s no catch, but in exchange for a quick, guaranteed cash house sale a professional home buyer will pay less than market value for your property.

Obviously if the price you achieve for your property is your primary concern this isn’t the right service for you, but if speed, certainty, security and convenience are higher on your list of priorities, or if you’re working to a tight deadline, a professional home buyer can be a great fit!

Are there any professional home buyers that will pay full market value for my property?

In short, no.  In order to cover their costs (professional home buyers, along with anyone else buying more than one property, are required to pay an additional 3% stamp duty) and remain a profitable, viable business, professional home buyers need to apply a discount to the offer they make you.

Anyone claiming to be a professional home buyer who offers you more than 90% of the value of your property should invite serious investigation as it’s likely they’re a property broker rather than a genuine professional home buyer.

What is a property broker and how are they different to a professional home buyer?

A professional home buyer will buy your property from you directly, using their own cash.  This means they’re able to guarantee the sale, the price they will pay and the timescale.

A broker is someone who will ‘manage’ the sale of your property to an investor.  They will make you an offer for your property, but without the cash funds to fulfil that sale.

Instead they will advertise your property to investors and hope they find someone willing to pay the amount they’ve quoted.  This means the sale is not guaranteed and they are unable to give any certainty about sale price or timescale.

The other downside of selling to a broker is that they may try to tie you into a contract.  These contracts are often referred to as option agreements. Being tied into a contract will mean you’re unable to sell through other channels for a set period of time.

If you’re after more than 90% of the value of your property, you’re better selling with an agent.  You will have more control over the sale and achieve the same price (or more!) as you would with a broker.

How can I tell the difference between a professional home buyer and a broker?

Unfortunately there are more than 100 businesses in the UK claiming to be professional home buyers.  Of these, only 3 are genuine cash home buyers.  The others are brokers.

The easiest way to ensure a professional home buyer is genuine is to research their financial position.  Company accounts are freely available to view through websites such as Companies House and DueDil.

A genuine professional home buyer, with the means to buy your property directly, should have more than £1 million in available funds.  They should also have an annual turnover in excess of £4 million – a turnover of less than this would suggest that they don’t buy many houses!

This content was written by Quick Move Now
Published on 27th February 2017
Last updated on 9th August 2018

Get an instant free estimate

We have £6,354,923 instantly available right now to buy your house

  • Property Details
    1
  • Contact Details
    2
  • Your Quote
    3
  • 1 Property Details
  • 2 Contact Details
  • 3 Your Quote

No risk free quote

  • Guaranteed sale
  • Become chain free
  • No fees
   Yes
No 
  • Please select yes to agree to our terms of data collection to proceed.

Terms of data collection

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Curabitur eget consequat lectus. Suspendisse vitae vestibulum mi. Suspendisse maximus mauris vel nunc sodales dapibus. Etiam ornare neque non purus ullamcorper, sit amet elementum libero laoreet. In quis sodales ex. Curabitur ultricies ex et leo euismod dapibus. Nam vel sem finibus, semper purus sed, vestibulum ligula. Interdum et malesuada fames ac ante ipsum primis in faucibus. Duis ut elementum quam, a cursus diam. Nunc urna felis, consectetur ut fringilla eleifend, blandit id odio. Sed mattis leo non metus suscipit tristique. Fusce lacinia erat ac dolor rhoncus blandit. Maecenas lobortis commodo libero, non semper nunc vestibulum eu. Morbi eu interdum libero. Fusce rhoncus faucibus est vel blandit. Donec eget erat vitae neque scelerisque aliquet id ac metus.

Donec non dui vitae elit feugiat rhoncus eget in elit. Mauris pharetra sem enim, gravida auctor dui aliquet a. Donec mollis dignissim risus eget pharetra. Nullam condimentum massa nulla. Etiam id sollicitudin libero. Nunc ligula ante, cursus eu euismod nec, congue eu neque. Nullam suscipit ante ipsum, nec vulputate justo semper eget. Pellentesque sit amet orci ac urna sollicitudin cursus sed vitae leo.

Curabitur lorem tortor, consequat nec elementum eu, convallis a velit. Ut ac consequat orci. Morbi id vestibulum leo. Praesent pellentesque efficitur quam eu scelerisque. Duis pulvinar molestie maximus. Phasellus a mattis enim. Vestibulum ullamcorper, odio vel lacinia mattis, dui orci volutpat massa, sit amet ornare felis ipsum at ligula. Duis pretium in nisi id hendrerit. Nunc ornare nunc et dolor vehicula, sit amet congue nisl viverra.

Back to property details

Your free, no obligation estimate request has been successfully submitted.


One of our property experts will be in touch shortly to discuss your requirements in more detail.


Call us on

0800 068 3366

or we will call you

We Are Regulated By

Property Ombudsman Logo National Association Property Buyers Logo Chartered Trading Standards Institute Logo British Property Federation Logo

Address

Quick Move Now
Interface Business Park,
Floor One, Unit 15,
Royal Wootton Bassett,
Swindon
SN4 8SY

Get your cash offer now

CASH COULD BE IN YOUR ACCOUNT IN
10 Days
|
11 Hours
|
52 Minutes

You're currently offline