Ask the Expert – Property Solvers

Before proceeding with a quick sale company, conducting thorough research is crucial to ensure a smooth transaction.

Below, the team at Property Solvers Homebuyers (who also run Property Auctions News) run through some of the essential checks…

Verify the company’s credentials: Ensure they are registered with reputable bodies like the National Association of Property Buyers (NAPB), the Property Ombudsman, and Trading Standards (Approved Code).
Confirm compliance with Anti Money Laundering Regulations and registration with the Information Commissioner’s Office.

Validate their legitimacy: Check their registration at Companies House to assess their business history and view director information. Be cautious of similar company names.

Assess the buyer’s financial standing: If dealing with an individual buyer, request their personal credit report from reputable agencies like Experian or Check My File.

Scrutinise the purchasing entity: Verify the company that will actually be buying your property, as it may differ from the initial contact.

Beware of hidden fees: Have a solicitor review any contractual agreements to ensure transparency.

Confirm financial capability: Demand proof of cash funds, such as recent bank statements or letters from solicitors registered at The Law Society. Undrawn debt facilities are acceptable, but ensure clarity on loan terms.
Seek testimonials.

Request reviews: From past satisfied clients to gauge their reliability and service quality.

Validate their presence: Confirm the legitimacy of their office address and willingness to engage in face-to-face meetings.

Assess their experience: Inquire about their tenure in the property business and request evidence to substantiate their claims.

Evaluate online presence: Examine their website age and activity on social media platforms like Facebook and Twitter for informative content and engagement.

Review their track record: Enquire about their history of expeditious property exchanges and completions. Lack of evidence may warrant consideration of alternative options or retaining the property with an estate agent.