Wednesday 22 August 2012

propertytalk Live! - Estate agents echo industry watchdog warnings

propertytalk Live! - Estate agents echo industry watchdog warnings

Estate agent Harrison Murray has backed industry watchdog advice urging sellers to be wary of quick-sell companies that offer ‘cash for any property’.

The National Association of Estate Agents (NAEA) has reported a sharp rise in the number of property companies offering sellers a quick cash sale, and is advising sellers to use common sense and think through the risks of using this method to sell their home.

Mark Hayward, president of the NAEA, said: “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.

“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.”

Harrison Murray estate agents are members of the NAEA and echo the advice to customers using their 17 branches around Cambridgeshire, Leicestershire, Bedfordshire and Hertfordshire.

Managing director Nick Salmon said: “The tough economic conditions mean that some home owners may find themselves having to sell in a hurry. The temptation of a cash purchase by one of these quick-sell companies is understandable but owners need to
be aware that they won’t be achieving anything like the full value of their property. Typically these quick-sell firms offer 20% or even 30% below ‘market value’. If the sellers talk to our branches and give us a clear understanding of their circumstances and needs the chances are that we will achieve a much better figure for them.

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