When people need to sell a house, most will opt for the traditional estate agent route without considering any alternatives. However, if you prioritise your time and want a quick sale, there are other selling methods out there that will be much better suited to your needs.
Cue the cash house-buying company.
But, given their reputation, is it really worth selling your house to a house-buying company?
Selling to a house-buying company can be a great option if you value speed, certainty, and convenience over getting the best price for your property. You can save months of stress and frustration that are common with an estate agent sale. However, there are downsides which mean this selling method is not for everyone.
In this article, we reveal the genuine pros and cons of selling your house to a “we buy any house” company. We also set out four easy steps that you can follow to quickly discover if selling to a house-buying company is the right option for you.
If you want to cut right to the chase and find out if a cash house buyer is the right selling method for you, take our free 60-second quiz.
Hit the button below to get started:
1. Should I sell my property to a cash house buyer?
When deciding the best way to sell your property, it’s important to weigh up your options carefully and make sure they align with your priorities.
There are three main ways to sell a house:
- Sell with an estate agent.
- Sell by auction.
- Sell to a cash house-buying company.
Unfortunately, there isn’t one “best way” to sell. The best way to sell your house will depend on what’s most important to you.
You’ll need to consider factors such as your desired timeline and financial objectives in order to make the right choice.
To make this process easier, I’ve summarised the key pros and cons of each selling method in this handy table:
*Table is based on our recommended genuine, trusted house-buying company’s service. As you’ll find out below, not all house-buying companies offer this level of service.
To help you make an informed decision, let’s delve deeper into the pros and cons of selling to a cash house-buying company…
2. Benefits of selling to a house-buying company
Arguably the best part of selling to a company who buys your house is that you’ll avoid a lot of the delays, stress, and uncertainty that drive home sellers mad when they sell through an estate agent.
Here are some of the specific benefits you’ll enjoy if you choose to sell your house to a “we buy any home” company:
- Speed. Selling to a house buying company is the fastest way to sell your house. It’s much quicker than selling with an estate agent or by auction. You can have your sale wrapped up in as little as 2-3 weeks, but the timeframes are totally flexible.
- Certainty. Because house-buying companies buy from you directly, you will have a guaranteed sale if you accept their offer. This level of certainty is unmatched (auctions have a 70-80% success rate and estate agents only 51%)!
- They buy “any house”. Another pro of selling to a house-buying company is they’ll make you an offer regardless of the property’s condition, how messy it is inside, or how severe any issues are. However, if your home has serious defects, I would actually encourage you to consider selling by auction instead (read why in my top tip box below).
- You can sell as-is. There’s no need to declutter, redecorate or do a deep clean when selling to a house-buying company. This can be appealing to many sellers, like those who have inherited a property or don’t have the time or resources to carry out lengthy repairs.
- No viewings. Another bonus is you won’t have to carry out any viewings. This saves time, stress, and any frantic last-minute dashes around the house to get it looking its best.
- Chain-free buyer. Cash house buyers are chain-free, which helps simplify and speed up your home sale. House chains massively delay sales and increase the likelihood of your sale falling through, so it’s a big plus that you get to avoid them!
3. Drawbacks of selling to a house-buying company
As you can see from reading the benefits above, cash house buyers are the best answer for how to sell your house quickly.
However, there are also some big drawbacks to consider when selling to a house-buying company. This is why this selling method only appeals to a certain type of seller with a certain set of priorities.
Let’s take a look at the negatives of selling to a cash house buyer:
- Low sale price. The main downside is price, as house buying companies offer substantially less than market value. Typically, an offer will be in the region of 78-83% of your home’s value. Be wary of any companies claiming they can offer you more than 85%.
- Lack of regulation. The “we buy any home” industry is not regulated. As a result, there are many disreputable companies operating unethically with absolutely zero repercussions.
- Scams & unethical tactics. Common tactics include dropping their offer at the last minute, manipulating online reviews, false or misleading advertising and mis-selling “option” and “purchase” agreements as actual cash sales.
These are some pretty serious downsides which, if ignored, can have big consequences.
The house-buying industry has a bad reputation because so many unethical companies exploit the lack of regulation to take advantage of homeowners.
The frustrating thing is that this selling method can be the perfect fit for certain homeowners; but it can feel like a risky choice when it’s seemingly impossible to find a trustworthy, reputable company amongst all the sharks.
This is where we come in.
I’ve designed a quiz that will help you discover the best way to sell your home.
If selling to a cash house buyer is right for you, I will introduce you to my #1 trusted house-buying company on your results page. My personal contact at the company will give you a free, no-obligation cash offer within 48 hours.
You can avoid 66% of the downsides and have complete peace-of-mind knowing you’re dealing with a genuine, reliable house-buying company.
If you want to save headaches, worry, and time, hit the button below to take the quiz, and get your free introduction to the only Cash House Buyer I trust.
4. When do people sell to a house-buying company?
People often choose to sell their house quickly when time is more important to them than getting the best price. For example, they may be relocating for work, repairing a broken chain, or retiring.
In no particular order, here are some of the most common reasons people use “we buy any house” companies:
- Retirement or downsizing.
- Repair a broken house chain.
- Sell an inherited property.
- Relocating or emigrating.
- Unwanted investment property.
You can read more about why people sell their houses quickly here: “Why Do People Sell Their House Quickly? (9 Good Reasons)”.
Everyone’s priorities, circumstances, and property are different though, so how do you know if selling to a house-buying company is right for you?
5. Is selling to a house-buying company right for you?
Whenever I speak with people who are considering selling to a house-buying company, I always encourage them to take some time to really consider the pros and cons. It’s definitely not the right option for everyone.
In today’s property market, most people simply cannot afford to take a 17-22% discount on their sale price.
But if you’re in the fortunate position where you can afford to accept a price reduction, then using a house buying company will be the fastest, easiest, and most certain sale you’ll ever have.
5.1 Find out if selling to a cash house buyer is right for you in 4 simple steps
You can find out if a house-buying company is the right selling method for you in four simple steps:
- Take our free quiz to find out your best selling method based on your property & priorities.
- Get a free introduction to our recommended house-buying company & have all your questions answered by my personal contact.
- Get a free, no-obligation cash offer within 24-48 hours.
- Decide if the pros outweigh the cons for you personally now that you have all the necessary information.
So, if you want to find out quickly if a house-buying company is right for you, hit the button below to get started.
If it’s the right fit, I can introduce you to the most reputable house-buying company in the country, and you can have a genuine cash offer within 24-48 hours.
By Matthew Cooper, Co-Founder of Home Selling Expert