A quick buy company that describes itself as an “express estate agency” is making a pitch for vendors who may be tempted to use auction houses instead.
Property Solvers claims it is an “express estate agency operating across the UK” although it also describes itself as an “active buyer of the type of home that would often appear at auction” and a service that “cuts out the middleman from the house sales process.”
The firm’s co-founder Ruban Selvanayagam says that his service could offer a faster and more reliable sale than a traditional auction - and at a lower price.
"Auction houses charge higher fees than normal open market sales. This is because there is more work involved including producing marketing brochures, extra advertising costs, room hire, auctioneers' salaries etc. Auction sellers also must pay their solicitors extra fees to handle pre-auction enquiries” he says.
"As the sale is direct, generally speaking, quick house sale companies do not charge any commissions nor will there be any legal fees and associated disbursements [or] hidden fees to pay.”
Selvanayagam also says professional property buying companies can arguably offer a better level of assurance that the sale will happen.
“The legitimate firms buy with cash meaning we're not dependent on mortgage or auction lending facilities and things get done much quicker. With the seller dealing directly with the buyer, the level of ambiguity that can exist with auctions and other forms of open market sale is eradicated. In short, we have too much to lose by not delivering on our promise to buy homes quickly” he claims.
He adds that: “Over-priced auction property does get sold and there is a lot to be said about the heightened level of emotion in the auction room.”