Best house buying companies 2023
Need a quick house sale? Here's our full guide to finding a legit cash house buying company...
Selling your house fast through a quick house sale company can at first seem daunting - we get that. Compared to the traditional open market sale or even going to auction, cash buying companies are the new kid on the block - i.e. they sit outside the average buyer's comfort zone.
And it's this unfamiliarity which can often deter buyers from using a cash buying company altogether.
Not that it should though. You see, how a cash buying company works isn't as alien as you may think. In fact, the process tends to be more straightforward than that of the open market. What's more, it'll be faster too and leave you (the seller) with far less legwork.
But just as you would be with buyers on the open market, with house selling companies you need to be picky. Quiz them and do your homework on who they are and where they operate before giving them responsibility over your house sale.
Although, that's not easy, especially in an industry which the majority of sellers are unfamiliar with.
So, to help ease this unfamiliarity, we've compiled everything we know about house selling companies into one giant article to help you spot a reputable cash buyer.
Read on for our spotter's guide to the best house buying companies in 2023.
What is a cash house buying company?
A cash buying company is much like it sounds. A business that specialises in buying homes for cash without the help of a mortgage or loan.
Think of them as similar to the cash buyer you'd find through the open market, only you won't have to spend hundreds of pounds in property marketing to attract them.
In fact, because the majority buy ANY house in ANY condition, you could actually say that you have the upper hand in negotiations; if you don't like their offer, you can simply walk away.
What's more, going through a property buyer also comes with a few more added perks. You eliminate the faff that comes with property chains, be it the long wait times or the risk they could break.
You also complete far faster than the average sale if you go through a house buyer UK According to The Advisory, even in a hot market, the average time to complete a purchase is in-between 60 and 90 days - a long while when compared with the 7-day completion boasted by the best quick house sale companies.
Are companies that buy houses for cash legit?
Yes, the majority of cash buying companies are legit. Although, how legitimate they prove to be ultimately depends on which quick sale company you use.
Do business with a reputable cash buyer and you'll likely have a smooth and stress-free sale, much like how you imagined. It's only when you fail to spot a buyer who's slightly less kosher, that things could start to turn sour.
Although, that's not just the case with the property buying industry. When it boils down to it, companies in every business niche all vary in terms of reliability and reputation.
For some, they're first on the agenda and something they build their entire business around. Whereas for others it makes an appearance further down the pecking order. Not that it's something you can't sense though.
Understand what to look for in a cash buyer and you're far more likely to end up selling your house to a reputable company.
Something you have to be especially well-versed on when selling your home to a cash buying company because as of yet, the industry isn't regulated. Not that it's anything to be afraid of though.
In the UK, there's actually a fair few industries which still remain unregulated. These include cryptocurrencies, mobile learning, certain strains of business loans - the list goes on.
Basically, new industries which haven't yet aged enough to reach the point of being regulated. So, all this really means is that before selling your house to a quick sale company, you should do your research and get to know the industry first before diving in headfirst. Essentially what you're doing now.
What to look out for when selling to quick house sale companies?
While vetting an agent is relatively straight forward, vetting a cash buyer is less so. Opposed to agents, property buying companies use the internet as their shopfront - you'll find very few on the high street. So as a business you could say they're harder to vet. But that's not to say that doing so is impossible. Here's a couple of key details to look out for when searching for a legit cash buying company...
Companies that buy houses with finance
If a company labels themselves a cash buyer, you'd assume they're sitting on heaps of their own cash poised and ready to buy your home, but that's not always the case. A fair few cash buyers have been known to use loans to purchase properties instead - i.e. they don't actually have cash, just access to it. So, in short, they don't actually have full control over your sale - their lender does. Luckily for you, we buy property with cash ALL from our own reserve!
The Property Ombudsman/ NAPB
The best quick house sale companies will be members of the Property Ombudsman scheme and NAPB (National Association of Property Buyers). However, just because you see these logos on their website, it doesn't mean they're active members. For less legit cash buyers these are just a trust builder, designed to give you confidence in their brand. If in doubt, we'd suggest ringing the organisations to check.
Lead generation websites
Contact a cash buyer and you are what's known as a business lead. Something that's worth a good chunk of money to any quick sale company. As a result, lead generation websites are another trip hazard to watch out for, as they're not actually quick house sale companies at all.
They're merely websites designed to capture your details, so they can be sold on to other cash buyers for a profit!
You can always tell legit cash buying companies by their physical address. Put it into Google Maps and you'll likely be met with some interesting results.
Some companies will have a big, branded building (ours is over 3000sqft), whereas others won't look like a place of business at all. You may even find that you're not actually dealing with who you think you are, as it's not uncommon for various cash buying websites to be connected to the same address.
In other words, you're not actually be dealing with who you think you are.
Want to have a peek inside our office? Here's our CEO, Jonny christie, to walk you through its design.
How do cash buying companies work?
Before putting your trust in quick sale companies, you first need to understand how they work. The reason why is simple.
Your average cash buyer takes a completely different approach to your local estate agent. While there does remain some similarities, there's a good number of differences to be aware of.
One of the perks of selling privately, opposed to through the open market - the process with a cash buyer is far clearer cut.
Some of the most noticeable changes being the lack of a need for marketing or the entire process of finding yourself a buyer.
So, getting a grasp of this slimline process is essential, especially if you're looking to complete an urgent house sale. Hence why we've outlined the process that's used by some of the best quick sale companies out there.
1. You reach out about a cash offer
Sell you house to a cash sale company and straight away you're faced with a choice - reach out to them via their website or give them a ring for a talk in person.
Which route you choose to take is entirely up to you, however it is worth considering the value of each route.
Picking up the phone and you'll likely get the most personal experience.
Something we'd recommend you do, as unlike an email, a phone call gives you a sense of who your buyer actually is.
Are they purposefully going for 'the hard sell' or are they upfront and humane in their approach? This also gives you a chance to gauge a cash buyer's knowledge too; don't be afraid to ask questions.
A good tip is to actually ask each quick home sale company the same questions.
As backward as it sounds, comparing their answers is an easy way to suss who's the most knowledgeable and ultimately who'll be the buyer best suited to you. But that's not to say contacting a cash buyer online is inferior.
In fact, it's also pretty useful, especially if speed is high on the agenda. Remember, at the end of the day it's communication that gets your house sold fast - a cash offer is just a head start.
So, if a company takes 3-days just to reply to your enquiry, you've a pretty accurate idea of how the rest of their process is going to take.
FYI: When it comes down to it, we'd use both. An online enquiry is a great starting point if you're looking to whittle down a shortlist.
A shortlist you can then go on to cull further by comparing your experience over the phone.
2. The cash buyer assesses your house
Reach out to a quick home sale cash buyer and they'll likely want a chat about you and your property, so it's important that you're armed with all the relevant information.
Just think of them as a buyer on the open market. They'll be inquisitive and ask questions all so they can build an accurate picture of your house and what it's worth to them.
To calculate this, they'll use tools like Google Maps, HM land registry and advanced property portal software to establish your house's whereabouts, position and past sale history.
They'll also be interested to hear about the condition of your property too, as this can largely determine the amount they're willing to offer.
FYI: While this is your chance to big up your property and 'sell it' so to speak, you should always remain truthful about your property's condition.
Fail to do so and you'll only be shooting yourself in the foot. Because just as a buyer would on the open market, a cash buying company is perfectly entitled to lower their offer at any point before contracts exchange if later down the line they realise your house is not as described.
The best quick house sale companies will even send someone out in person to give your house the once over before the offer is confirmed.
So, if your property is unmortgageable or has been wrecked by a previous tenant, be upfront about it. It'll save you a lot of time and hassle down the line!
3. Accept the cash offer or negotiate
Prior your conversation, the fast house buying company will then go and speak with their underwriters.
These are the ones who'll evaluate the sale and assess how much the company is willing to pay to purchase your property.
To do so they'll use the information that you tell the negotiator, so be clear about everything your house has to offer, as it could well increase your offer.
Once the underwriters have supplied the negotiator a figure, the company will be back in touch. It's at this point where you'll have a choice to make.
You can either accept the offer and proceed with the sale (ideal if speed is of the essence) or do your best to negotiate a higher price. However, before you do so, here's a few points to bear in mind...
Even the best quick cash sale companies will NOT offer you 100% of the market value. They're a business remember, so there has to be at least something in it for them.
Cash buying companies are willing to negotiate if you have a valid reason. However, the trick is in how you do so. In most cases, simply saying that you "want more" isn't going to cut it.
You need to show the cash buyer why your house is worth more. So, say something like "the extension we built set us back £XXX, and two local agents have agreed that it's added £XXX to the property's value ".
Basically, have a point and the evidence to prove it.
Once you reach a price that's mutually beneficial for both parties, you then proceed to the next step of your sale. Congrats! You're already Sold STC!
4. Talk timescales
With the offer now verbally accepted, the quick house sale company will now draw up a timescale for the move. Of course, this will be orientated around how fast you want to move - not everyone wants to move in 7-days. So, this could be anywhere from a week up to a couple of months from agreeing your offer. Basically, as long as you need to get your affairs in order - house repayments, removals, onward purchase, that sort of thing.
5. Surveys and solicitors
With a timescale sorted, the quick sale company can now progress with booking in the necessary surveys, much as a buyer would do on the open market. Providing they come back clean, the cash buyer will then work with you to instruct solicitors and get the legal side of the sale moving. But, if any unforeseen issues crop up, you may have to re-negotiate the offer, although thankfully this is a rare occurrence.
FYI: One of the reasons cash buyers are able to buy your house SO quickly for cash is their access to fast legal services. By 'fast' we don't mean they rush, but instead that they know the right people. More than often cash buyers will have a strong relationship with a group of solicitors, who in exchange for the extra business, give their sales priority. So, if you've sold via the open market and conveyancing is proving slow, it could be because your solicitor's had a sudden influx of work from a cash buyer and yours has got back benched.
6. Contracts exchange and the cash is transferred
Once you and the cash buyer have vaulted all the legal hurdles that come with conveyancing, your sale will go through two stages:
Here your solicitor exchanges contracts with the quick sale company and the deposit is paid. Just like it would on the open market, exchange of contracts means the sale is legally binding and that if you were to back out, you'd lose your deposit.
This is moving day, and also when the remainder of the funds will be paid. Only once you've completed is your house officially sold. Usually, to get to completion with a cash buyer takes around 14 days, although some of the best quick house sale companies can do so in as little as 7!
What happens when a home buying company buys your house?
When you sell your home to home buying companies, you are able to stream line the often convoluted and time consuming house selling process.
When a cash buyer purchases your property, they aim to take the stress out of the journey. Depending on which company you sell your house with you may get your legal fees paid for you, and some cash buyers (like ourselves) can even sell buy your home from you in as little as 7 days!
What sale options do home buying companies offer?
When you sell with home buying companies, it should be made clear from the start that you will not be getting 100% market value for your property, and if any company tells you that you will, you should be very wary about continuing with the sale.
Most companies that buy your house will offer you 75%-90% of your properties value, however the exact amount that you are offered will depend on upon the location, size, and condition of your property amongst a variety of other factors.
The best house buying website in 2023 are...
When it comes to judging the best quick sale companies which are currently on the market, it's not so much the businesses you need to be looking towards - it's their customers.
The people who were at one stage were wondering the exact same thing as you. Are property buying companies legit?
To finally put this to bed, we've scoured Trustpilot for the best quick house sale companies, so you don't have to...
|Ranking||Cash Buying Company||TrustPilot Rating (/5)||Number of Reviews|
|1||The Property Buying Company||4.7||1,811|
|2||We Buy Any Home||4.0||763|
|4||We Buy Any House||4.4||336|
|5||Quick Move Now||4.2||81|
*Data last updated on 18th August 2023.
with the way my enquiry was handled
Made me feel
speed and value
of the offer was
and the sale process was
Which house buying company is the best?
With so many home buying companies to choose from, it can be overwhelming when looking for best cash house buyers.
Below, we take a look at some of the best cash house buyers on the market.
We Buy Any Home
We Buy Any Home are a cash buyer, who were established in 2013 and claim to have over 300 years of home buying experience.
Their website says that they are a genuine cash buying company who are able to offer you a quick and free house sale on any property in 7 days.
They are members of the regulatory boards The Property Ombudsman and The National Association of Property Buyers.
10% of their reviews are rated as 2 star or under, whilst 90% of their TrustPilot reviews are 90%. Overall, they have a TrustPilot rating of 4.0.
GoodMove are another example of companies that buy your house. With an average sale time of two weeks, GoodMove are a genuine cash buyer who claim to purchase your home with no fees.
GoodMove are also regulated by the RICS as well as being members of the regulatory boards the National Association of Property Buyers and The Property Buying Company.
With 95% of their reviews being 5 star, GoodMove have an overall score of 4.8 with their 692 reviews.
We Buy Any House
We Buy Any House who claim that they can get you a house offer in 60 minutes and purchase your home in 3 days.
Their website does not offer much about who they are as a company, however it does show they are a member of the Property Redress Scheme.
The TrustPilot reviews for We Buy Any House are made up of 13% three-star reviews or less, and 87% 4 star and over reviews. Overall, We Buy Any House have an overall score of 4.4 for their 336 reviews.
Quick Move Now
Established in 1998, Quick Move Now are a genuine cash buyer who claim to be able to buy your home in a timescale that suits you without fees or obligations.
Quick Move Now do not offer a lot of information on who they are as a company, or much they are willing to offer you for your property, instead saying that the best way to find out is to enquire.
They are members of the National Association of Property Buyers.
Quick Move Now have a total of 81 reviews on TrustPilot, with an overall rating of 4.2. This is made up of 18% which are 3 star or less, and 82% which are 4 star or above.
The Property Buying Company
As much as we'd love to say we’re the best house buying company in the UK, we're not the type to brag.
Neither slate our competitors, but what we will say is that we, The Property Buying Company, do tick all the boxes.
We're a cash buyer with a physical presence. We operate from an office that's over 3000 sqft and have a team consisting of over 30 property professionals and industry experts, with over 50 years of combined experience!
We're NOT a lead generation website. Your data privacy is our top priority!
ALL our purchases are financed with cash from our own reserves - dodgy loans aren't for us.
We're active members of both The Property Ombudsman & the National Association of Property Buyers. In fact, with NAPB we're a founding member.
So, if you're looking to for a cash buyer who's legit, cash-ready and eager to buy your house...
- Online Estate Agents£1000-5000Upfront Cost16-52 weeks
- Other house buying companies
(Sell House Fast)£1000Cost To You6-10 Weeks
- The Property Buying Company£0cost to youAverage sale in 2-3 weeks
- Property Auction£2500-£5000Cost To You6-10 Weeks
- Estate Agents£5000Cost To You16-52 Weeks