Not all quick sale, cash property buyers are equal so if you need to sell property fast and for cash, how can you tell a scammer from a sound, legitimate professional company? A good place to start is with a cash property buyer who is honest and transparent with the fact that they will offer a below market price for your property but your research shouldn’t stop there, as Open Property Group discusses.
Opt for established companies, not individuals
If you’re selling on the open market and your agent says a cash buyer is interested, the offer may come from a company or an individual. Our sister company, Open Online, recently published this blog on the validity of cash buyers, touching on aspects to be aware of, such as money laundering and fake chain-free sellers.
The same caution should be applied when dealing with companies. A genuine professional cash buyer will be powered by a team of people, so proceed with caution if your cash buyer is hard to get hold of, if they don’t have a website or if they refuse to see you at their office.
You can familiarise yourself with Open Property Group’s employees here and if you are in any doubt, we can visit you at home, you can come to our Buckinghamshire office or we can chat on the ‘phone – we are real, approachable people with a long-established, family-run property buying business.
Check for professional body memberships
While the UK’s property industry isn’t strictly regulated, there are a number of professional bodies and associations that help create an ethical framework in which to work and achieve best practice. These memberships are voluntary, however, so only property buying companies interested in improving standards and who are willing to be held accountable tend to join. If your chosen cash buyer is not a member of one of the below, question why.
Open Property Group is a member of The National Association of Property Buyers (NAPB) - a group of professionals committed to providing the highest possible standards in the property buying sector. As members, Open Property Group has worked closely with The Property Ombudsman to help form a Code of Practice and to create a set of guidelines that will raise industry standards.
If you need to sell property fast and want to check if a cash buyer really belongs to the NAPB, as some companies, misleadingly, use the logo on their website or paperwork without actually being a member, you can check the current NAPB membership list here.
To be a member of the NAPB, cash property buyers also have to sign up to The Property Ombudsman Code of Practice. As a result of our membership, consumers can expect a fair and transparent service when selling their home to Open Property Group, plus they also benefit from an official redress scheme. Property buying companies may also claim to be members of The Property Ombudsman but it is worth double checking if they really are before engaging with them – you can search The Property Ombudsman’s current membership list here.
If someone has had a bad customer experience, it is natural for them to want to warn others. Review sites, including Feefo and Google, are a good place to research the reputation of any cash buyer you’re considering using. Open Property Group is proud to say 100% of reviewers on Feefo have rated us as ‘excellent ' (94%) or ‘great’ (6%), while we score 4.5 stars over on Google – feel free to look us up!
Open Property Group is happy to talk over any concerns or answer outstanding questions you may have. Contact the team today and get to know us.
Watch the video below which explains more about selling your property fast or click here to continue reading this article