The number of ‘pop-up’ companies offering to buy a property quickly has prompted concerns – from a quick sale company.
Quick Move Now said that sellers should beware of false promises from unscrupulous companies touting for business, and said there had been an exponential rise in the number of quick sale firms.
Donna Houguesz at Quick Move Now said: “We have also seen an incredible rise in the number of companies offering a quick sale service. Whereas five years ago there were just a handful of such companies operating, nowadays there are hundreds.
“Unfortunately, not all of these companies are trustworthy, and in an industry that is largely unregulated, sellers should beware.
“The main problem we see is that companies purport to be able to offer a quick sale, when in truth, they make an offer and then attempt to secure a mortgage or find a third party investor – neither of which options offers a guaranteed sale.
“We are worried about the increasing number of ‘pop-up’ quick sale companies seen in recent years, and have sympathy with people needing to sell their properties and worrying about whether they will be ripped off.”
Comments
Wow is this a case of the pot calling the kettle black?
Or is it just a case of “Oi, we were here first”?
The reputable companies sign a contract with the seller which includes a minimum price they both agree on.
The disreputable companies don’t. They offer a very enticing price, not much less than market price and then after a few weeks or when the seller has committed to move out or to another property they reduce the price. All estate agents have experienced this from ruthless buyers and it is nothing new.
The moral is read the contract before you sign and if there is no minimum price don’t sign.