Frequently Asked Questions

Q1 – Will I be offered the full market value of my property?
Q2 – What do you mean by “actual market Value” of the property?
Q3 – Will you offer to buy my property even if it is in poor condition?
Q4 – Are there circumstances where the percentage offered will vary?
Q5 – Will someone need to visit my property before an offer is made?
Q6 – What type of properties do you purchase?
Q7 – What types of properties do you not purchase?
Q8 – Do you buy land or commercial property?
Q9 – In what parts of the country will you buy?
Q10 – Are there any hidden fees or charges which I will have to pay?
Q11 – Will you pay for a solicitor to act on our behalf?
Q12 – How long does it take to receive an offer on my property?
Q13 – How long does the process take?
Q14 – I am a landlord with a large portfolio which I wish to sell. Will you buy my entire portfolio in one transaction?
Q15 – My property has an existing tenant. Will you still be able to make an offer?
Q16 – My property has a Regulated tenant. Can you still offer on my property?
Q17 – If I wish to sell and rent back option can I buy my home back in the future?
Q18 – How is the rent calculated on the sell and rent back option?
Q19 – Will my rent rise in the future?
Q20 – What if I want to keep my rent fixed indefinitely?
Q21 – What security of tenure will I have once I start renting?
Q22 – I am in debt and my house is in danger of being repossessed. Can you help?
Q23 – What are the advantages of selling to you as opposed to being repossessed?
Q24 – Why is your offer on my property less than the value of my home?
Q25 – I think that my property could be worth much more money if it was developed or converted. What can I do to avoid losing out on a potential windfall in the future?
Q26 – Can I meet with someone to discuss the offer made on my property?
Q27 – How do I know if your offer is competitive?
Q28 – Can you improve on the offer you have made me for my property?
Q29 – But I think that your market assessment of the is low. What can I do?
Q30 – Why is it so important to complete the online enquiry form accurately?
Q31 – I think that my property may have problems but I am unsure. What do I do?
Q32 – What will you do with my property once you buy it from me?
Q33 – Can I take time to consider your offer once it has been received?
Q34 – I have a friend who may wish to use your service. Is there any incentive for me to recommend you to them?
Q35 – I am an investor. Can you keep me informed of any properties which become available?
Q36 – I am an Estate Agent with a client who wishes to sell their property quickly. Will you pay my fee in lieu of my client?
Q37 – Would your competitors be able to make me a better offer?
Q38 – I want to accept your offer but have previously instructed an estate agent to sell my house. Will I have to pay him any commission?
Q39 – What if I accept your offer and then change my mind?
Q40 – Are there charges if I change my mind after I have accepted your offer?          

Q41 – My question is not covered in the list above. Can you help me?

 

Q1 – Will I be offered the full market value of my property?
A – No, in normal circumstances we will offer you between 80-85% of the actual market value of your property.

Q2 – What do you mean by “actual market Value” of the property?
A – We mean the value of your property in its present condition as independently assessed by a qualified firm of Surveyors and Valuers. Many estate agents will artificially inflate the value of your property to secure a sale and then ask you to reduce the price when it is not selling. It is important to remember the cost that the estate agent says he can obtain on the open market will not be the cost which you will receive once the transaction is complete. See here for further details.

Q3 – Will you offer to buy my property even if it is in poor condition?
A – Yes we are happy to buy your home regardless of its condition. We will take the condition of the property into account when we make you an offer. It is therefore important to answer the questions in our online application form as accurately as you can to avoid disappointment.

Q4 – Are there circumstances where the percentage offered will vary?
A – Yes. In special situations we will be able to lend up to 95% of the value of your property. In other circumstances such as where there are major structural or damp problems or due to the property’s location (e.g. above a pub or in an area liable to flooding) we will only be able to offer 75%.

Q5 – Will someone need to visit my property before an offer is made?
A – No we will make an offer based on the information you have provided to us in our Online Form. If you accept our offer then a surveyor will be instructed to inspect the property on our behalf.

Q6 – What type of properties do you purchase?
A - We are interested in all types of properties such as flats, houses, bungalows, terraced homes, semi-detached, detached, mews homes, townhouses etc.

Q7 – What types of properties do you not purchase?
A – We do not buy temporary homes such as static caravans, prefabricated homes or where there are restrictions on the use of the property such as holiday lets, chalets etc.

Q8 – Do you buy land or commercial property?
A – Yes we are happy to look at anything regardless of location

Q9 – In what parts of the country will you buy?
A – We buy properties in any part of the UK mainland including Scotland and Wales.

Q10 – Are there any hidden fees or charges which I will have to pay?
A – No. There are no fees to pay or to be deducted from the amount we offer you for your property

Q11 – Will you pay for a solicitor to act on our behalf?
A – Yes. If you have not yet appointed a solicitor then we will appoint one to act on your behalf and we will pay his account in full on completion of the transaction. If you have already appointed a solicitor then we will pay you an additional £500 on completion of the purchase to cover your solicitor’s costs.

Q12 – How long does it take to receive an offer on my property?
A – It will usually take up to 24 hours for us to assess your property and make you an offer however under certain circumstance we can make you an offer within an hour!

Q13 – How long does the process take?
A – You can normally have your money within a week of our offer being accepted. Alternatively we can agree a completion date to suit your needs for example to give you more time to move out or to find a new home.

Q14 – I am a landlord with a large portfolio which I wish to sell. Will you buy my entire portfolio in one transaction?
A – Yes we will make an offer on as many properties as you wish

Q15 – My property has an existing tenant. Will you still be able to make an offer?
A – Yes. We will make an offer to you regardless of whether your property is tenanted or not. In many cases we are able to offer more money for tenanted properties particularly in London or where the value of the property is less than the national average

Q16 – My property is occupied with a Regulated tenant. Will you still be able to make an offer on my property?
A – Yes

Q17 – If I wish to use the sell and rent back option can I buy my property back from you in the future?
A – Yes you can buy your property back from us at any time you wish

Q18 – How is the rent calculated on the sell and rent back option?
A – We base your monthly rent on the market rent of similar property in your area.

Q19 – Will my rent rise in the future?
A – Your rent will remain fixed for a period of two years from the date that our agreement starts. After this any rent increase will be in line with inflation.

Q20 – What if I want to keep my rent fixed indefinitely?
A – We can fix the rent for up to 10 years if you are willing to accept a slightly reduced offer on your property.

Q21 – What security of tenure will I have once I start renting?
A – As long as you pay the monthly rent to us by direct debit you will be as secure in your home as you were when you owned the property.

Q22 – I am in debt and my house is in danger of being repossessed. Can you help me?
A – Yes if you have sufficient equity in your home you can either sell your house directly to us and move on or remain in your home and rent your home back from us

Q23 – What are the advantages of selling to you as opposed to being repossessed by the bank?
A – There are several advantages to buying from us over repossession. Aside from peace of mind and being able to avoid the additional bank charges which your lender will add to your debt, the repossession together with the defaults you have made on your mortgage will be included in your credit file. This may seriously affect your credit rating and may affect your ability to borrow money in the future.

Q24 – Why is your offer on my property less than the value of my home?
A – Like all businesses who provide a service there are costs and overheads which have to be covered in order for our business to be viable. We cover these costs in the difference between the value of your property and the price we pay you for it.

Q25 – I think that my property could be worth much more money if it was developed or converted. What can I do to avoid losing out on a potential windfall in the future?
A – If you are willing to accept a lower initial payment of 75% when you sell your property we are happy to split any development profits with you equally. Please ensure that you advise us of this when you fill in your online enquiry. Please also identify in detail any development potential which you think may interest us.

Q26 – Can I meet with someone to discuss the offer made on my property?
A – Yes. We specialise in buying properties without invading your privacy. Many people have concerns that someone visiting them to discuss purchasing their home can be very pushy and aggressive in their sales tactics. By using us you ensure that you are not placed under any pressure when you come to sell. That said we are happy to come to your home at any stage to discuss any concerns you may have.

Q27 – How do I know if your offer is competitive?
A – By concentrating on business online we reduce our costs and overheads which hopefully results in a better offer to you. Unlike some competitors we do not have sales staff who are employed on a commission basis and whose commission will be deducted from the offer price on your property. If you think that our competitors can offer you a better deal then please feel free to contact them and their sales staff can examine your property and make you an offer.

Q28 – Can you improve on the offer you have made me for my property?
A - No. Our offer is full and final. Occasionally our survey may identify that we have underestimated the value of your property. If this happens then we will increase our offer to reflect the difference in cost. We have an open and honest policy in all our property transactions. We believe that in order to operate successfully we must keep our clients fully appraised at each stage of the selling process.

Q29 – But I think that your assessment of the “actual market value” is low. What can I do?
A – We try very hard to give you a realistic assessment of the “actual market value” of your property. Particularly since we are relying on your own assessment of the condition of your home in the initial offer there may be times when we have misinterpreted the information you have provided and a lower assessment has been made. Sometimes in more rural areas there are less comparables which we can use to base our offer on. If you think this is the case you can arrange to have your own survey carried out. If you wish to do this please contact us and we will give you the names of independent Valuers in your area.

Q30 – Why is it so important to complete the online enquiry form accurately?
A – We rely heavily on the information you have provided to assess the value of your property. If you fail to disclose anything which would materially affect the value of the property then the offer we make you will become invalid and we will have to resubmit a reduced offer based on the actual condition of your property.

Q31 – I think that my property may suffer from problems but I am not sure. What do I do?
A – Please ensure that you list any concerns you may have about your property on the online enquiry form. This will allow us to make you an accurate offer based on certain assumptions. These assumptions will be clearly listed on the offer we make you. If for example you think that your property suffers from dry/wet rot you must state this together with the extent of the problem in the comments box of the form. We will factor this into your offer. If the extent of the problem is less than we have allowed for then an increased offer will be made to you. Obviously underestimating the extent of any problem will result in our offer being reduced.

Q32 – What will you do with my property once you buy it from me?
A – This will largely depend on the location, condition and value of your property. Many properties are now being sold on a “Rent to Own” basis to people who are struggling to get on the property ladder. Buying property at a discount to its true value allows us to offer the property with built in equity to people on the “Rent to Own” programme. This makes the property more affordable for them and keeps their costs down when they are initially renting the property. More expensive properties are usually either rented out or resold to investors.

Q33 – Can I take time to consider your offer once it has been received?
A – Yes of course. We appreciate that selling your home is a major decision. Our offers are always open for 30 days from the date of issue. If you need us to extend this period then we will be happy to do so. It is important for us to ensure that you are happy with your decision and do not feel under any pressure to accept our offer.

Q34 – I have a friend who may wish to use your service. Is there any incentive for me to recommend you to them?
A – Yes. Although we do not employ sales people to generate business in order to maximise the returns which we can pay our clients we pay 1% of the purchase price as a finders fee which is paid to you on completion.

Q35 – I am an investor. Can you keep me informed of any properties which become available?
A – Yes We are always interested in investors who have sufficient funds to buy properties with cash. We can offer more money to people looking for a quick sale when we know that it matches investor’s requirements so everyone benefits from this system. Please contact us for more details.

Q36 – I am an Estate Agent with a client who wishes to sell their property quickly. Will you pay my fee in lieu of my client?
A – Whether you are an individual or an Agent we will pay you 1% commission on the completion of any sale which you bring to us. To safeguard our mutual client we ask all Estate Agents to sign a waiver which confirms that they will not request any additional fee from the vendor.

Q37 – Would your competitors be able to make me a better offer?
A – We like to think that we are extremely competitive however we appreciate that you have a choice and welcome a comparison to our offer. It is important to remember that our offer has no hidden charges for surveys, valuations or fees so you should make sure that our competitors offer is on the same basis when one of their “local associates” visits your property to discuss this. We welcome feedback on our services and would appreciate it if you could let us know of your experiences using us or our competitors so that we may improve the service that we offer you.

Q38 – I want to accept your offer but have previously instructed an estate agent to sell my house. Will I have to pay him any commission?
A – It is extremely unlikely. You will need to pass details of any paperwork you have signed to your solicitor to confirm this however payment is normally only required when the agent introduces the purchaser to the vendor.

Q39 – What if I accept your offer and then change my mind?
A – You are under no obligation to complete your sale if you change your mind for whatever reason until we have exchanged contracts. We appreciate that circumstances change and will respect your wishes whatever you choose to do. Selling your property is a stressful business and we hope you will let us do everything we can to minimise any problems throughout the sale even if that means helping you to walk away from the deal

Q40 – Are there charges if I change my mind after I have accepted your offer?
A – Many solicitors we will recommend will have an “abortive fee waiver” option when you appoint them. We recommend that you exercise this option when your solicitor is appointed. This will reduce your costs to approximately £50 if you decide to change your mind. There are no fees whatsoever charged by us for withdrawing from the deal unless we have already exchanged contracts.

Q41 – My question is not covered in the list above. Can you help me?
A – Yes. Feel free to contact us at any time. We are constantly updating this FAQ page with queries which have arisen so if there is anything we have not covered we would be delighted to hear from you.