House Buying Company Vs. Traditional Estate Agency

There are numerous benefits when using a house buying company instead of a traditional estate agent.

People will often overlook companies that buy houses for cash because they think they will get less money for their property. The reality is, a property sale through an estate agent will return you approximately the same amount of cash after fees and payments, over an extremely longer time time period. Here is an approximate breakdown of the costs,

Estate Agents
9 Months
PropertyBuyer.co.uk
2 Weeks
Market value (Asking Price) £200,000 £200,000
Average agreed purchase price £190,000 £168,000
Agreed price post-survey £186,000 £168,000
Estate agent fees (2.4% + VAT) £5,357 £0
Solicitor fees (£1000 + VAT = £1200) £1,380 £0
Mortgage payments (£738 x 9 months) £6,651 £0
Council tax and utility bills (£375 x 9 months) £3,375 £0
Property repairs / removals / clearance / clean £1,250 £0
Final sale price: £167,987 £168,000
Figures shown are based on a typical advertised property price of £200,000 which has come back with a RICS valuation of no less than £200,000 and the legal work and searches has shown that there are no issues in relation to the property or its title. We would be able to pay up to 84% of the valuation if the property is in ‘grade A’ condition, of standard construction and is located in an area with average or above market conditions.

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