Number of internet searches for ‘home buyer’ has doubled over two years
- Number of ‘home buyers’ touting for business has increased exponentially
- Sellers urged to beware false promises and unscrupulous companies
Quick Move Now has put together the graph above which reports the growth in the number of people searching for ‘home buyer’ on search engines between January 2010 and September 2012, and estimated searches until March 2013. Although not a reliable statistic of the exact number of searches for this term, the trend is useful to us in showing the increase in its popularity.
Alongside this increase in the number of searches, we have also seen an increase in the number of companies offering the service. Whereas five years ago, there were just a handful of such companies operating, nowadays, there are hundreds. Unfortunately, not all of these companies are trustworthy and in an industry that is largely unregulated, sellers should beware.
The main problem we see is that companies purport to be able to offer a quick sale, when in truth, they make an offer and then attempt to secure a mortgage or find a third party investor – neither of which options offers a guaranteed sale.
Donna Houguez, Quick Move Now’s market analyst explains:
We are worried about the increasing number of ‘fly-by-night’ companies seen in recent years, and have sympathy with people needing to sell their properties and worrying about whether they will be ripped off by a quick sale company.
Our message is that there are a few, very simple, ways to check…
- Companies house website – a true cash buyer will have a turnover of over £10 million a year
- Name and address – steer clear of any company not clearly displaying their name and registered address on their website
- 24 hour cash guarantee – if a company is able to transfer funds within 24 hours, you can be more confident that they would be able to meet their promised completion deadline.
- Endorsements – ask to speak with a professional who works with the company such as a solicitor to verify their claims. Any legitimate company will be happy to provide their contact details.”
Quick Move Now is the UK’s leading home buyer, offering a quick, secure and hassle-free house sale. Our experienced team, efficient processes and substantial cash reserves allow us to make immediate purchases, enabling vendors to sell their houses quickly and move on with their lives.