If you’re trying to sell a property as quickly as possible, you might be thinking about working with a quick sale firm to help you get rid of your property with the minimum of fuss. But can you trust these companies? How can you tell the difference between a legitimate, supportive company and a scam trying to take advantage of you? Below, we’ll give you some top tips for what to look out for.
Quick Sale Firm Risks
You should bear a few major risks in mind if you’re considering going through a quick sale firm to sell your property. These are common in the quick sale industry, and knowing to look out for them can help you stay safe.
Fee structures can be convoluted. Many unscrupulous companies will stack their contracts with hidden fees and block the sale from going through until you pay, essentially holding your house ransom. They may also tie you into these contracts, preventing you from leaving and signing a better deal elsewhere.
When to Use a Quick Sale Firm
Many other house sale options are available to you, most of which will be safer and likely to get you a better deal than selling your property to a quick sale firm. That being said, there are plenty of situations in which a quick sale firm might be ideal.
If you’re looking for speed and ease rather than making as much money as possible, there’s no better option than a quick sale firm. This is the fastest and simplest way to sell property, even if the rewards are likely to be lower. You just need to be aware of the risks and how to ensure you’re working with a trustworthy firm.
Quick Sale Firm Top Tips
The number one tip for working with a quick sale firm is researching the firm extensively before signing anything. Check credentials and certifications. Make sure they’re a licensed member of the National Association of Property Buyers. Doing this research will take time, but it is always worth it.
Shop around. Look at the range of options in your area. Not all quick sale firms are the same, and knowing your options is important.
Get everything in writing. You unavoidably need to ensure there’s a full paper trail for every aspect.
How to Spot a Scam
The most important thing to do is to check a company is legitimate. It should be a red flag if they do not provide answers to the following questions upfront:
What are the fees? Is there proof that they have the money? Who will buy the property? Are they members of the NAPB? Who is performing the valuation, and how?
Be careful when picking quick house sale companies. Even if you’re desperate to get rid of your property as fast as possible, the amount of money involved is that you should always ensure you’re working with a safe, reliable company, such as Sell With Richard! If you have any doubts about a company, avoid them, and always trust your gut.