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How do you tell a professional cash buyer versus a shark?

 20th May 2015

How do you tell a professional cash house buyer versus a shark?

Unfortunately as with all professions some are good, but there are some that don’t look at business for the long term, preferring to make as much money in the short term as possible and not caring who they hurt in the meantime.

The best way to spot people who are not professional buyers but are likely to be sharks are those:-

  1. Only have small ads with only a mobile number in the local paper, offering ‘quick cash deals’
  2. Don’t belong to any respected trade bodies, including the Property Ombudsman Scheme, one of the government redress schemes, giving you a free independent complaint system
  3. Offer less than 85% of the property’s true value
  4. Have no testimonials on their site/to give you to talk to
  5. Aren’t registered companies, typically sole traders
  6. Offer to buy your property in less than 7 days which generally is unrealistic as it will take a few days to provide the required information to your own solicitor when selling
  7. May be selling your ‘details’ to other investors who you don’t get to meet
  8. Won’t use Royal Institute of Chartered Surveyors (RICs) to value your home
  9. Don’t allow you to choose your own legal company
  10. Drop the price offered just before you exchange

To contact a professional buyer for help on finding the best way to sell your home, contact Open Property Group on 0800 990 3939 or visit our website today www.openpropertygroup.com

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