How to take care if you are selling your property fast | Alex Johnson | Independent Property Blogs

How to take care if you are selling your property fast | Alex Johnson | Independent Property Blogs

The recession is increasingly leaving desperate sellers vulnerable to quick-sell property companies that offer poor valuations, according to The National Association of Estate Agents (NAEA) which has reported a sharp rise in the number of property companies offering sellers a quick sale service. The organisation is urging sellers to use common sense and think through the risks of using this kind of service to sell their home.
“Our members have noticed a significant increase in the number of companies purporting to offer cash purchases on properties in whatever condition within 24 hours,” said Mark Hayward, President of the NAEA. “While this might sound like a great solution for people looking to sell their property in a hurry, we are finding that it is often families who are in desperate financial circumstances which are targeted through website advertising and a door-to-door sales approach.
“The tough economic conditions mean that in some cases sellers are pressurised into making quick decisions to sell their property. They sign the contract at an agreed price only to find that they are offered a vastly reduced rate just before the sale. In a highly pressurised situation it is understandable that many people are following the advice of quick-sell services to accept these last-minute lower offers. But I would urge anyone thinking of using this kind of service to first consult their local NAEA estate agent or consider using a National Association of Valuers and Auctioneers accredited auction house which are far better regulated and will guarantee a fair market rate for the property.”
NAEA offers four tips to avoid problems:
Explore all sale options – Don’t get pressurised into making a sale, no matter how desperate the circumstances. In many cases, quick-sale services incentivise sellers ......