Are you finding it difficult to sell your house? Or perhaps you want to sell quickly?
An assisted house sale can be beneficial in both scenarios.
Not everyone has heard of it, but it’s worth exploring in some conditions.
If you are wondering what an assisted house sale is, you’re in the perfect place. We’ve explained everything you need to know below.
What is an assisted house sale?
An assisted house sale is when a person or organisation helps you to sell your property. They do this for a percentage of the selling price or profits.
It is useful if you are finding it difficult to sell your house.
An assisted house sale comes in several different forms, and each company might do it slightly differently.
Popular assisted house sale methods
The three most popular methods of assisted house sale are as follows:
1. Refurbishment costs
Someone offers to pay refurbishment costs to bring a house ‘up to scratch’.
They then recoup a set fee (to recover their costs) plus a percentage of the profits when you sell.
This is most commonly used for inherited properties. In particular, when a family or person receives a house via probate in terrible condition.
It might not sell on the market without updates. So, if the money does not exist to do this, outside help is needed.
Reasons a house might not be sellable on the open market include:
- Short lease
- Broken doors or windows
- Structural problems
- Doesn’t comply with building regulations
- Proximity to commercial or industrial sites
- The house is uninhabitable.
2. Marketing support
Someone provides extra marketing support (e.g. paid advertising) in return for a percentage of the selling price.
This is most popular with sellers dissatisfied with their estate agent.
Perhaps you are now selling the house privately because your previous agent did a terrible job. Or it might just be that the estate agent’s promised ‘marketing support’ is ineffective.
3. Full sale service
Someone buys your property for cash at a reduced price. When they re-sell it further down the line, you get a percentage of the profits.
This is most common when the seller is on a tight schedule.
Perhaps you are relocating for work and need to sell quickly. Or you might owe significant debts in the next few weeks and need the money from your house sale to cover this.
Who offers an assisted house sale?
Assisted house sales are usually offered by private organisations looking to make a profit.
This might be a large organisation with lots of funds and dozens of transactions occurring at any time.
Or it might be a solo property investor or developer. Either way, their goal is to profit in the property industry.
Choosing who to work with for an assisted house sale
A simple Google search will find companies in the UK that provide an assisted house sale via all three of the above-mentioned methods.
Some organisations or individuals are more trustworthy than others, so beware and research carefully. More information on this is below.
The offer you receive for an assisted house sale depends on several factors, including:
- The type of property you have
- Your property’s condition
- Its length on the market
- The economic conditions.
The specific company you work with and the level of help they offer are also relevant.
Cash house buyers
Cash house buyers can complete assisted house purchases within a few weeks, especially genuine cash buyers with no chain.
This is because they have the funds needed in-house to buy it. And they are built around an effective and streamlined process for buying houses.
Just ensure they are a trustworthy cash buyer and you are clear on all the contractual details.
Can I trust an assisted house sale company?
Some assisted house sales organisations are more trustworthy than others. You need to do your research before jumping into a decision.
You should also sit down with a solicitor or lawyer to review the contract details you’re being asked to sign.
The most reliable and trustworthy companies will have all of the following:
- Proof of funding
- Past customers you can speak to
- An in-person representative that you meet
- No hidden fees
- Accreditation with the relevant industry bodies
- Website answering all critical questions.
You should be free to ask questions. And the organisation should answer clearly.
Initial valuations or offers must also be no obligation, meaning you can walk away anytime.
Get a second opinion from an expert if you are unsure. Independent property professionals and lawyers can both provide excellent advice on the legitimacy of any company or offer.
Why do people get an assisted house sale?
Assisted house sales appeal to people who are struggling to sell their house. But the circumstances surrounding this can vary.
These are just a few reasons an assisted house sale can be attractive.
Advantages of assisted house sales
Speed
An assisted house sale enables you to sell your house quickly. This can be invaluable if you are on a very tight schedule for selling your house.
No need to refurbish
It is also beneficial if your house needs updates but you don’t have the cash to pay for these.
Instead of failing to find a buyer on the open market, you can bring your property up to ‘sellable’ condition and thus proceed with the sale.
This is common with inherited houses that have been neglected in recent years.
An assisted house sale also reduces stress and responsibility for the homeowner.
You can renovate your property without managing it yourself or covering the costs.
Disadvantages of assisted house sales
Reduced price
You will receive a reduced price for your house with an assisted sale.
In some cases, this might be 20% or 25% below the market value, depending on the condition of your property.
Dealing with dishonest tactics
Some contracts surrounding assisted house sales are carefully worded. They might be designed to give you as little money as possible.
For example, it might promise you profits from a future sale when the buyer has no intention of ever selling.
Or you might get nothing if the buyer can move some numbers and argue that they didn’t make a profit. You should thus be highly cautious and look things over with a legal expert.
Lack of control over renovations
Depending on your contract, you might also not have much control over the renovations that occur.
The assisted house sale company could demand total autonomy over what occurs. It will also disrupt your life if you live there while renovations occur.
Do I need legal support for an assisted house sale?
Yes, getting legal support with an assisted house sale is highly recommended.
This is an unknown area for many people, and some organisations are untrustworthy. Take your time, do your research, and get the support of an independent expert.
Who are We Buy Any Home?
We Buy Any Home are chain-free cash property buyers that operate across the UK.
We can purchase properties in any condition up-front, quickly and without hassle or stress.
Fill in our enquiry form below if you want a cash offer for your house.
