How much will I get for my home?
If you are looking to sell your home fast, what price can you expect to get for your home?
Selling your house to a cash buyer company is the only way to guarantee a sale.
- Cash buying companies typically pay between 75% to 85% of market value
- The fastest way to sell your house
- No agent fees to pay
- Legal fees are usually covered by the company buying
- Typical completion times are 3 to 4 weeks but can be as quick as 7 days (some companies can complete even quicker if required)
More on cash buyer companies
For cash buyer businesses, it is impossible for them to pay full market value for your home. However, reputable companies are uniquely placed to guarantee a sale by the date you need. We only use cash buyer companies that have a proven track record with thousands of house purchases and satisfied customers. The benefits of their service have made it worthwhile for homeowners to accept a discounted sale price.
How much do property buying companies pay?
For homeowners who need a quick or guaranteed sale, cash buyer companies offer a convenient alternative to estate agents. A cash home buyer pays below market value for a property - in return for a no-risk, guaranteed sale. Importantly, you will always be in control of timescales for completion.
Typically, cash buyers will pay up to 75% to 85% of full market value. The discount applied will usually differ from property to property and assessed on an individual basis. A reputable cash buyer will always offer the highest amount via OfferPal so they can secure the business over the competition.
Companies claiming to offer full market value (or close to it) are not genuine buyers. They will usually be a lead generation company for an estate agent or a broker.
The quick house sale market is not yet regulated and with so many companies claiming to be genuine cash buying companies, it can be difficult and time consuming to make the right choice. Using OfferPal.com will help you make the right choice.
Why do cash buying companies buy at a discount?
The business model is simple: buy properties at a discounted price and then sell on the market at full value. This model is aimed at sellers who require a quick, guaranteed sale and for this type of customer works very well. It doesn’t work for sellers who are expecting full market value.
Cash buyers do not charge fees for the service they provide - their profit is made on the resale of the property. In order to buy at a sensible price, a genuine home buying company will need to take into account their costs:
- Stamp Duty — property buyers pay an additional 3% stamp duty on top of the normal rates. For a property worth £240,000, stamp duty of £9,500 has to be paid by the company rather than the normal £2,300 that would be due.
- Legal Fees — all legal fees for both parties like conveyancing will usually be covered by a genuine house buying business.
- Cost of Ownership — all costs relating to owning the property will be covered after completion including council tax, bills, and insurance
- Renovation Costs — any building or maintenance work that is required for resale will be covered by the cash buyer
If I don’t want to sell to a cash buyer, how can I get the best price?
The best way to get full market value, whatever that happens to be at the time, is to use a traditional estate agent.
Be aware that 40-50% of sellers don't sell through the first estate agent that markets their home. You need be careful about choosing an estate agent.
Firstly, what the agent tells you your house is worth, may not be accurate. At the best of times, the valuation is a guess. As we all know, they’re worth what someone will pay for them.
Secondly, they’re probably telling you what you want to hear, that your house is worth more than it is. You probably believe your house is worth more than it is. This isn’t to say you’re stupid, it’s jist human nature to overvalue something that in your eyes is your family home, which you have chaerised memories in. Obviously, this means nothing to anyone else except you. It’s natural to believe your assets are worth more than they are.
A few simple changes around your home can help speed up the sales process and even boost the value of your property
Prospective buyers form an opinion on your house within the first 7-10 seconds of stepping in the front door, so making a good first impression is vital when you’re trying to sell your home. This is where home staging comes in.
It is said that staging your home properly can increase the price you achieve by up to 10%! Top tips for staging include;
Remove all clutter
Rule number one of home staging: get rid of all the clutter in your home. Either throw it away or store it neatly out of sight. All floors and surfaces should be clutter-free, while cupboards should be neatly organised in case sneaky guests start peeking.
Inspect your floors
Ensure all carpets are clean, and repair any creaky floorboards. If you have exposed floorboards in your home, consider getting them re-waxed or re-stained so that they look the best they possibly can.
Experiment with rugs
Try a rug – they may make a room look more homely, or they may make it look too small. Give it a go and find out.
Refresh your walls
Bright colours and wacky wallpapers aren’t for everyone. Give walls a fresh lick of paint and go for warm, sophisticated neutrals that make a home look well put together.
Work those windows
All windows should have blinds or curtains, but avoid nets at all costs. You can make smaller windows appear larger with long curtains. Make sure curtains are pulled right back and blinds right up to allow for plenty of light to flood your rooms.
At OfferPal our mission is to find you the best offers for your property from a wide range of house buying companies
We pride ourselves on providing our customers with transparency on the prices paid by property buyers:
- Fair price — a discounted price based on a sensible valuation
- Timescales — you set the completion date to suit your requirements
- Certainty — verified and financially secure home buying companies