Myth Busting: 3 Misconceptions About the Quick House Sale Market
When selling a house, there are several steps that you can take to drive a quick and lucrative sale. One of the most important is to time your listing carefully, as while the period between February and June is the ideal time to sell, July, September and December tend to see cyclical declines in demand.
In some instances, of course, the ‘sell house fast‘ mentality is more than just a preference. In fact, it may be crucial depending on your unique set of circumstances, and on occasions like this you may be better served by selling through a quick house sale company.
Unfortunately, this tactic is subject to a number of misconceptions, which may deter potential vendors and prevent them from achieving a viable deal. Here are some of these misconceptions laid bare, as we explore the truth about a growing and increasingly well-regulated market:
- Quick House Sale Firms Will Pay Far Below Market Value
While there is a modicum of truth in this, quick house sale firms actually represent good value in the current market.
Although reputable firms do make offers that are below the full market value of the property in question, this is usually still between 75% and 80% of the total asking price. You must also consider the quick house sale firms will absorb all associated fees and can complete cash transactions within a matter of days, which more than makes up for accepting a marginally lower offer.
You should think of this as a trade-off, as you compromise on the asking price in exchange for a quick, seamless and cost-free sale.
- Quick House Sale Firms Target Vulnerable Vendors
This is a more of an outright lie than a misconception, as quick house sale firms sell all types of property across various different markets.
From standard sales to tenanted properties and even commercial structures, the quick house sale is available to a vast array of owners regardless of their personal or professional circumstances.
There is certainly no targeting of vulnerable or desperate vendors, while sellers are also protected by increasingly stringent regulations relating to the processes used by service providers.
Remember, quick house sale firms cannot actively solicit business either, and any companies that do are likely to be rogue operators.
- Quick House Sale Firms Only Thrive During Times of Austerity
Rather like debt collection agencies, there is a theory that quick house sale firms only thrive during times of economic austerity. While the market may have emerged as a response to the great recession, however, it’s subsequent growth and diversification means that it now offers value regardless of the prevailing economic climate.
This has certainly enhanced the reputation of the sector, which can no longer be perceived as profiting from the hardship or financial struggles of others.
The nature of the business may change slightly during times of economic growth of course, with vendors who are looking to relocate quickly or private landlords more likely to use the service as the economy booms.