New guidelines will steer home-owners through the minefield.
A leading home purchase company has published a guide to help consumers avoid being ripped off by unscrupulous quick sale operators. Quick Move, the largest in its field, said that the risk has never been greater to home-owners pointing to an unstable housing market and a bewildering list of operators keen to cash in on the misfortune of others.
“In a recent search, we counted as many as 150 business promising to buy-up properties quickly for cash. In an unregulated industry, it’s hard to tell who are the rogue operators and who aren’t,” said Quick Move’s Managing Director, Hywel Luke. “We are not tarnishing everyone with the same brush, but we are aware of some horror stories and we want to help consumers through the minefield,” he added.
Quick Move has today published its own charter in its bid to set ethical and fair standards in the quick sale sector. Within its own guidelines, Quick Move asks consumers to be wary of one-man-band operators who may only advertise their mobile number, to take out credit reports and to watch out for ‘cowboys’ who make an offer without even seeing the property.
The Quick Move guide warns against ‘middle-men’ operators who to not have funds at all. Many are too-good-to-be-true and are merely an introducer to individual opportunistic investors only interested in what’s in it for them personally.
Recent statistics show that an estimated 80,000 transactions per year are carried out on the Quick Sale Market (1). However, there is also vast financial gain to be had from the industry, and a growing number of fly-by-night companies are cropping up, looking to prey on homeowners in financial difficulty.
According to Quick Move, some will promise to give home owners a valuation within 24 hours, but often these will just be estimates or ‘drive-bys’ and may end up receiving much less – sometimes as little as 68 per cent of the property value.
Luke added: “we wanted to highlight the need for the industry to be regulated in a bid to flush out cowboy operators and to protect consumers from selling their home to less reputable companies. Consumers would be much more aware of small print, scams and hidden charges if official guidelines were produced for the industry. We believe that our charter will encourage others to follow suit and provide a better level of service for homeowners.
“We urge homeowners to refer to our charter as a guide for selling their home to a quick sale company. If the company doesn’t meet all of the guidelines, the chances are they are not worth the risk of doing business with.”
The quick sale solution can benefit the seller if selected carefully. Anne Rogan sold her house to Quick Move in November 2007, ”When my dream home came onto the market I immediately put my own property up for sale through my local estate agent in order to make an offer. My house was marketed for three months without getting a buyer, so in order to secure the house I needed a quick solution. I proceeded with caution and chose Quick Move as it was an established reputable company. Quick Move gave me a fair offer within seven days and were so helpful and efficient at keeping everything moving smoothly. Without them I would never have secured my dream home.”
The Quick Move industry charter is available on the website at: http://www.quickmovenow.com/charter
Below are links to some of the negative quick sale cases and the underhand methods the employ:
About Quick Move Properties www.quickmoveproperties.co.uk
Quick Move Properties is the largest independent provider of house sale solutions in the UK. Quick Move has been established since 1998 and is now producing an annual turnover in excess of £70 million. Operating independently of builders and estate agents, Quick Move’s aim is to assist clients needing a fast house sale, without the hassles normally associated with the property sale process.
Quick Move Properties works with estate agents and builders across the UK to help them break a collapsing chain; or offer part exchange services on new-build; as well as help home owners realise the equity in their property fast.
For further information contact:
Rachel Lear / Louise Mapp
T: 0118 988 0501
Quick Move Properties
T: 01793 840904
1. CIL market research
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