We’re delighted to announce that Quick Move Now is now an official member of the British Property Federation (BPF); a professional membership organisation that represents the British property industry.
As a company we have always been keen to ensure that professionalism and integrity are at the core of everything we do, and we worked tirelessly with the Office of Fair Trading (OFT) to try to get the professional home buying industry regulated.
Unfortunately, to date, that still hasn’t happened, but we are nevertheless committed to raising the standards of the industry and helping homeowners to avoid falling foul of the rogue traders who falsely masquerade as cash home buyers.
Our membership of professional bodies, including the British Property Federation, The Property Ombudsman and The National Association of Property Buyers demonstrates our commitment to providing an honest, open and professional service to our customers, helping them to achieve a quick, smooth, guaranteed and hassle-free property sale.
Unfortunately, not all companies who claim to be cash home buyers are quite so trustworthy, and many home owners have been stung by rogue traders. If you’re considering using a professional home buying service, use our simple tips below to ensure the company you’re dealing with is genuine and trustworthy:
Make sure you are dealing with a genuine, professional cash buyers: A genuine cash buyer will have public accounts to back up the claims they’re making, which will be visible on websites such as Companies House and Duedil. You would expect a genuine cash home buyer to have an annual turnover in excess of £4 million and an available balance of more than £1 million if they’re claiming they’re able to make a quick purchase of your property. If they don’t have accounts that confirm their credentials, it’s best to walk away.
Never pay any fees: Any company that asks you to pay a fee should be avoided at all costs. A genuine cash home buyer will purchase your property at a discounted rate in return for a quick, reliable and hassle-free sale. They should also absorb any other costs associated with selling a property, such as survey, EPC and solicitorâ€™s fees.
Never sign an option agreement: An option agreement is a contract to sell your property to a company for a set price. These types of contract legally tie you in to the sale, but not the company – option agreements are usually a sign that they are not genuine cash buyers and are used to prevent you from selling your house to anyone else while they desperately try to find an investor to purchase your property at a reduced rate. You will have no guaranteed timescales, no guarantee of a sale and still be expected to sell your property at below market value. If timescales and guarantee of sale are not an issue for you, you’d be better to sit it out on the open market and get market value for your property than to sell to a broker – a genuine cash buyer provides a genuine and much-needed service, offering speed and certainty; a broker will still apply a discount but without offering any of the benefits of a genuine cash home buyer in return.
What do their customers say about them? Companies that genuinely buy properties for cash should have plenty of happy customers singing their praises, but make sure these reviews are genuine and realistic – if a company has 20-plus reviews in a month, but a low company turnover, they are either fictitious reviews or not genuine, professional cash buyers.