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CHAPTERS
0:00 Introduction We Buy Any House Companies Scams
0:34 We Buy Any House Situations - Bereavement
01:24 Who are We Buy Any House Companies?
01:44 How to avoid We Buy Any House Companies Scams
01:55 Tie in contracts
03:41 Clear timescales
04:30 How We Buy Any House Companies work?
05:19 Sale and Rent back Schemes
05:57 Ownership of 6 month rule
06:40 Way to sell to a genuine cash buyer
CAPTIONS
Hello, I’m Katherine, and welcome to another episode on our series of selling probate property.
In our previous video, I talked about 5 Things You Need to Do Before Selling Your Inherited Property. If you have not seen the video, I have added the link at the end of this video.
In this video, I am going to talk about We Buy Any House Companies scams that we come across on a daily basis.
So, who are We Buy Any House Companies?
These are companies that can make you a cash offer on your property. A vast majority of these We Buy House Companies make unrealistic promises that result in disappointment, wasting several months of time, and beneficiaries being left out of pocket.
We want to help you move on to next chapter of your life so let’s go through We Buy Any House Companies scams.
1. Offering you a tie in contract
The barrier to entry to have a website, a phone number and an office address is very low. What this means is that anybody can set-up a “fake” We Buy Any House website in their bedroom.
What these We Buy Any House Companies do, is to generate enquiries from property owners and then they agree a price with you. They will then ask you to sign up to a 6-month option agreement. They will tell you this is a standard practice.
Remember, a genuine cash buyer does not need 6 months to buy your house and should take no more than 2-3 weeks to buy your house at most. Unfortunately, we deal with victims of this scam on a daily basis and help Executors and their beneficiaries with a way forward.
Here at Property Saviour, we will buy your inherited commercial or residential property within 2-3 weeks, even cover your legal fees so that they are no deductions.
If you have signed a dubious contract with one of, We Buy Any House Companies please call us on 0113 320 6700 to see how we can get you out.
2. Clear timescales
These “We Buy Any House Companies” thrive on coming up with excuses not to buy your property. These can vary from critical survey on finding faults with your property to excuses relating to conveyancing matters.
3. Unrealistic and unbelievable offer
Often “We Buy Any House” companies will make you an unrealistic offer in return for a cash sale. For example, your house is worth £300,000 and they will offer you £280,000 in cash. On paper, this looks like a great deal, but they will ask you to sign a 6-month exclusivity option agreement, deduct survey fees, administration fees and legal fees.
4. Sale and Rent back scheme
Sale and Rent back scheme is now a regulated activity. Any We Buy Any House companies offering this option must be registered with FCA. If they are not registered, then this is illegal. Often this may seem an attractive option but please do not be deceived as they will try to kick you soon after they have completed the purchase. Instead, you are better off taking a cash offer from a genuine cash buyer such as Property Saviour and renting from a reputable landlord or buying another property.
5. Ownership of 6-month rule
This rule was enforced by number of banks as a basis for ensuring that previous owner has owned the property for a minimum of 6 months before either reselling it or refinancing it. The idea is to prevent property speculators from committing fraud, as it was the case in property boom of 2007 and then collapse in 2008-2009.
If you are looking to sell an inherited property to someone who needs a mortgage, it can be very difficult as you have not owned the property for 6 months. This is not an issue for us, as we are cash buyers.
Property Saviour has 5-star Google reviews from genuine clients and we’re more than happy to let you talk to them. Some of their stories are shown on our website.
Property Saviour specialise in buying all types of inherited properties for cash, whatever the condition. We buy commercial properties, houses, flats, bungalows, properties with short leases, squatter occupied properties and even empty derelict properties too – we’re based in Leeds and help clients across the UK. Whether you’ve just inherited a property, or you’re trying to plan for the eventuality of someone dying, we understand that this can be a stressful and emotional time.
How Does We Buy Any House Companies Work? l Property Saviour
Теги
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