IS QUICK BUY PROPERTY COMPANIES THE ANSWER TO BROKEN CHAINS?
When you are buying a property, it is likely there is a chain of sellers and buyers. The person buying your property will likely be selling theirs and there will be a chain behind them. The likelihood of everything going to plan is unfortunately very low.
I have known examples were 3 months after accepting an offer on a property it falls through and then twice after that so 3 times in total. This leads to delays and increasing costs and potentially losing the property you wish to buy because of broken chains. Recently I read of a case where the sellers had three different offers all of which have fallen through. At risk of losing the home of their dreams they contacted a Quick Buy Property Company. They guaranteed the purchase of the property and were able to conclude the purchase within 14 days which allowed them to go ahead with the purchase of their new home.
So was this the best solution for them.
If we were to look at the costs of selling the property and in this situation the delays it caused over a 9-month period, the cost is substantial. There will be the estate agency fees for marketing and selling, valuation fees, conveyancing, mortgage, council tax, utilities. If we based this on the average house price of £270,000 this would cost an estimated £23,000. So, you either absorb this cost or the alternative is the Quick Buy Property Company. They are offering a service which is to alleviate all the hassle and stress of selling your property in a time frame which suits you. Every service comes at a cost so the Quick Buy Property Company will offer you on average 10% below market value which provides certainty. In this instance it would be £27,000. It is therefore a choice of your motivations. Are you happy to wait and get the highest price with all the hassle using an Estate Agent and the uncertainty or you want a quick and easy way to move on with your life with a guarantee. The difference is £4000 so it comes down to you to decide what you value most.