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Why you should be careful when you are trying to sell your house fast through estate agents

Selling house fast to a cash buyer is very popular now especially during credit crunch. However there is an added bonus to this – you get to avoid estate agents!

Some estate agents have been known to mount extreme amount of pressure on vendors as well give unrealistic valuation to get vendors through the door and getting them to sign contract. So as a vendor when you do decide to sell your property, always research well, speak to agent personally, look into amount of commission charged and off course listen to your gut feel.

There are several reasons why home owners opt to sell house fast to a cash buyer. This could be due to increased monthly mortgage payment as a result of interest rates going up or perhaps inflation hitting the cost of living. Typically salaries do not rise enough to compensate for this which means households struggle financially.

There are many reasons why companies such as Property Bought Quick (PBQ) are chosen over estate agents. One big reason being that it means the vendors avoid random people going around their home picking holes. Going to such a company means there is no need for a ‘For Sale’ sign outside your home or even any advertisement on the internet and in the local news papers. The whole sale can take place privately at the speed vendor is comfortable with. It is just a matter of fast and efficient paperwork.

Recently in the media, many estate agents have come under scrutiny for charging unbelievably high rates of commission as well as claiming to market to vendor’s property to every property sale website when in fact they may only be registered to 1 or 2 property sale websites in order to try save membership costs. Additionally, a job of estate agent is typically handhold the whole sale process from start to finish, which means working with vendor and buyer’s solicitor, mortgage broker and surveyors to ensure all paperwork is being filled in on time and everyone is working towards the same goal. Unfortunately most agents fail to do any of this and normally just ask the vendor to ‘chase’ everyone or worst yet just leave everyone to take their time. The consumer ‘which?’ conducted some research into problems with estate agents and found some serious violations of the law and massive 50% of consumers voicing dissatisfaction over the service received from their estate agents. To quote the ‘which?’ report accurately: "Consumers entering the home-buying or selling process are substantially disadvantaged by the way estate agents currently operate"

Some agents have been known to lock-in vendor for months and months before the vendor can advertise the property with another agent. This means the vendor is left at the agent’s mercy in terms of where and how they advertise the property and the contract must expire before the vendor can chose to advertise with other agents. Vendors need to remember that:

1- It is not a legal requirement to use an estate agent
2- It is not the only way to find a buyer.
3- There is no guarantee that you will sell for the best price.

If you do need to sell house fast, you can contact Property Bought Quick (PBQ). PBQ can help vendors in desperate situation such as financial difficulties, broken chain, inheritance, divorce etc. Fill in a free estimate form at www.PropertyBoughtQuick.com to contact PBQ for a no obligation quote

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