The Best Companies That Buy Houses For Cash 2023

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In the ever-changing housing market, the rise of companies that buy houses for cash has gained significant popularity due to their convenience, speed and guaranteed sales.

But, as we delve into 2023, it’s important to identify the best companies that buy a house with cash providing sellers with a hassle-free, seamless service.

Whether you’re a homeowner looking to sell quickly or an investor seeking genuine cash buying companies, this article serves as a trusted resource to help you make an informed decision.

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Who Are The Best Companies That Buy Houses For Cash 2023?

CompanySells In...Average Sale Price AchievedTrustPilot Rating
The Property Buying Company7+ Days85%4.7/5
1,729 Reviews
Goodmove10+ Days80%4.9/5
672 Reviews
We Buy Any Home7+ Days80%4.1/5
748 Reviews
Property Solvers7+ Days75%4.5/5
33 Reviews
Ask Susan7+ Days"100%"3.2/5
1 Review

*Best companies that buy houses for cash data accurate from 23/06/23

The Property Buying Company

4.7 Stars on TrustPilot – 1,729 Reviews.

Can sell a house fast in as little as 7 days.

The Property Buying Company (TPBC) is a leading UK-based cash buyer with over 50 years of combined experience in the property industry.

They pride themselves on providing the highest quality customer service, which is supported by the hundreds of “excellent” rated TrustPilot reviews.

TPBC claims to be able to sell any house, in any location, in any condition in the UK. They also have alternative sale solutions depending upon the property and the speed you need to sell.

The Property Buying Company’s sister companies include The Property Selling Company, an online estate agency and The Property Sourcing Company, a property sourcing company.

Pros

Cons

The average sale price is 85% or over.

You are not getting full market value.

They are regulated by The Property Ombudsman and the National Association of Property Buyers.

Doesn’t buy houses for cash in Scotland or Northern Ireland.

They cover ALL fees including legal costs.

You have to use their partnered solicitors.

We Buy Any Home

4.1 Stars on TrustPilot – 748 Reviews

Can sell a house fast in as little as 7 days

We Buy Any Home claims to be “one of the only genuine cash home buying companies around.”

They are a founding member of The National Association of Property Buyers and have a combined experience of over 300 years.

Pros

Cons

The average sale price is 80% or over.

You are not getting full market value.

They are regulated by The Property Ombudsman and the National Association of Property Buyers.

Property sale may not be as fast as marketed.

Have OK reviews on TrustPilot.

Cleaning deposit required.

 

Goodmove

4.9 Stars on TrustPilot – 672 Reviews.

Can sell a house fast in as little as 10 days

Goodmove pride themselves on being a great alternative to the traditional estate agent and claim they can save you time and money.

They provide a private and discreet sale where they claim they’ll buy any property in any condition.

Pros

Cons

Transparent & honest service.

You are not getting full market value.

They are regulated by The Property Ombudsman and the National Association of Property Buyers.

Doesn’t have much experience with properties over £550,000.

They sell faster than estate agents.

Only cover the first £500 of legal costs.

 

Might pull out of sale if the condition of property isn’t of interest to them.

Property Solvers

4.5 Stars on TrustPilot – 33 Reviews.

Can sell a house fast in as little as seven days

Property Solvers are an innovative way for people to sell their house fast and have adopted a hybrid estate agency model, where they offer three different options to sell your property depending — although only one of these options is actually a genuine cash buyer.

Pros

Cons

They are regulated by The Property Ombudsman and the National Association of Property Buyers.

The website has contradictory information on it.

Can sell your house in 7 days.

There aren’t many online reviews.

They will cover your solicitor fees.

75% is quite low for genuine cash buyers.

 

Ask Susan

3.2 Stars on TrustPilot – 1 Review.

Can sell a house fast in as little as seven days

Ask Susan claims to be able to buy houses for cash for 100% its value, pay all your fees and buy your house in as little as seven days — which sounds too good to be true.

And, with very little online reviews, it’s hard to know if they’re a genuine cash buyer.

Pros

Cons

Pay all legal fees. 

Not regulated by The National Association Of Property Buyers or The Property Ombudsman. 

Can sell your house in 7 days.

They don’t have much of an online presence (social media & review sites).

They sell faster than estate agents.

Website is dated & hard to use.

 

Service seems too good to be true – how do they make their money?

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What Is A Company That Buys Houses For Cash?

A cash house buyer is an individual or company that purchases properties with their own funds, typically without relying on financial or mortgage loans.

A company that buys houses for cash has readily available cash reserves to complete a purchase, allowing for faster transactions and greater certainty in the property sale.

Occasionally on the open market, you may come across a property that is listed via an estate agent, but is labelled as ‘cash buyers only’, this will refer to individual cash buyers and not a company that buys houses for cash.

The homeowner will be looking for a chain-free house sale, while simultaneously benefitting from the negotiation power from the estate agent to increase the offer on the property.

Why Would You Sell Your House Fast?

People look to sell house fast to ensure they have a quick sale.

There are several reasons why someone might want to sell their house quickly:

  • Financial Difficulties: If you are facing financial challenges such as mount debt, repossession or unemployment then you may need to sell your house quickly to generate cash and alleviate financial stress.
  • Relocation: If you are relocating for a new job or for family, you may need to sell your house fast to facilitate the move and avoid the burden of managing a property from a distance.
  • Divorce or Separation: In situations where a couple is going through a divorce or separation, selling the house fast can help in dividing assets or resolving financial matters efficiently.
  • Inherited Property: If you’ve inherited a property that you don’t intend to keep or maintain, selling it promptly can be a sensible choice to avoid the costs of property upkeep, property taxes and other expenses.
  • Repairs and Maintenance: If your house requires extensive repairs and you’re unable or unwilling to invest the time and money needed to fix it up, selling it quickly can be a way to offload the property without the hassle of renovations.
  • Housing Market Conditions: Sometimes, homeowners may want to take advantage of a favourable buyer’s market where the demand is low and house prices are lower, although this may seem counterintuitive, using a cash buyer would allow them to sell quickly to buy a new property.
  • Downsizing or Upsizing: As life circumstances change, homeowners may find that their current house no longer suits their needs. Downsizing or to a smaller property or upsizing to accommodate a growing family quickly can be great reasons why someone chooses to sell their house fast.

Companies That Buy Houses For Cash VS Estate Agents

The choice between cash buyers and estate agents will depend on your priorities, time and how much value you want from your property. If you prioritise speed and convenience, a cash buyer may be more suitable.

But, if you are looking for housing market exposure, guidance, and potentially higher sale price, an estate agent will be a better option.

Cash buyer sales consist of:

  • Speed:Cash buyers can complete quick house transactions as they have funds readily available. They often buy houses for cash as-is, which means you don’t need to invest time and money in repairs or renovations.
  • Convenience:Dealing with cash buyers can be convenient as they handle most of the paperwork and may have a streamlined buying process. They are often experienced in purchasing properties quickly and offer a hassle-free cash sale.
  • Flexibility:Most cash buyers will be able to buy any house in any location due to their online office flexibility.
  • Guaranteed Sale:Genuine cash buyers will offer a guaranteed sale, although this doesn’t mean that a sale can’t fall through.
  • Lower Sale Price:Cash buyers may offer a below market value offer (10%-15%) on your property because they are taking on the risk and offering a fast and convenient sale.

Whereas estate agent sales consist of:

  • Market Exposure:Estate agents have access to a wide range of marketing channels and can expose your property to a larger pool of potential buyers. This increased exposure may lead to more offers and potentially higher sale prices.
  • Market Expertise:Estate agents have knowledge and experience in the local property market. They can provide guidance on piercing, staging and marketing strategies to help you sell your house at the best possible price.
  • Negotiation Skills:Estate agents can negotiate on your behalf with potential buyers, aiming to secure the highest possible sale price. They have experience in navigating negotiations and can advise you on the best course of action.
  • Fees & Commissions:When working with estate agents, you will typically pay fees and commissions for their services. These costs can vary and it’s essential to consider them when calculating the overall financial outcome.

Is A Cash Buyer Better?

Cash house buyers are ideal for people looking to sell their house fast, as they are prepared and experienced to match your deadline.

Most genuine cash buyers will be able to buy houses for cash, meaning they are not waiting for a mortgage to be approved, which strips the timescale of house transfer down significantly.

Cash buyers typically have stronger negotiating power since they are not reliant on mortgage approvals, which frees up stress on both ends of a sale to ensure that it is guaranteed.

Most UK based cash buying companies are known for their ability to offer quick hassle-free transactions which is beneficial if you need to sell your house swiftly due to personal circumstances or need to sell a property that is in poor condition.

Properties that are in poor condition are often bought by cash buyers, who will then sell those forwards to investors to carry out repairs or renovations.

Do Cash Buyers Get Better Deals On Homes?

Cash buyers may be able to get better deals on a property because they can offer a homeowner a quick house sale and hassle-free transaction without the need for a mortgage.

Which can give non-company cash buyers more negotiating power, especially when competing with buyers who are reliant on obtaining a mortgage.

But, usually when a person sells their property to a cash buyer, they do not have any completion and so the 15%-10% offer below market value is the final offer.

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Should I Sell My House To A Cash Buying Company?

Whether or not you should sell your house to a cash buying company, will depend on your circumstances. If you are looking for full market value (or more), have time to sell, or want the property to go to a like-minded family then using a cash buyer may not be the best route to selling your home.

However, if you are in need of a quick return on your investment, need to release equity due to the chance of repossession or are in charge of a probate property, then using a cash buying company may be a good option.

Is It Worth Using A House Buying Company?

Cash buying companies offer 15-20% less than the market value of a property, because they have the cash readily available and can position themselves as the fastest way to sell a house.

Usually people who are under pressure from repossession, probate, divorce, have suffered a chain break, are relocating or want to avoid the open market choose house buying companies for their quick turn around.

However, there are some disadvantages to using a company that buys houses for cash:

Cash buying companies typically offer a lower purchase price because they assume the risk and responsibility of selling the house after purchasing it.

Not all cash buying companies operate with the same level of professionalism and integrity, so it’s vital to check their online presence and reviews.

How Do You Sell To A Company That Buys Houses For Cash?

The process of selling a property to a company that buys houses for cash will vary depending on the firm, however, the general process is:

  1. Enter your name, number, postcode, address, email, number of rooms into the website to receive a free cash offer, which will usually take up to 48 hours.
  2. The company will contact you by phone or email to discuss the value of your house, their free cash offer and to talk you through the process.
  3. They will conduct a RICS survey on the property.
  4. Agree a final selling price.
  5. Complete.

What Happens When You Sell Your House To A Cash Buyer?

Selling your house to a cash buyer is similar to selling your property traditionally, only that you won’t have to wait for the buyer to get their mortgage approved.

When you sell your house to a company that buy houses for cash, then your house will likely be sold to investors via a sourcing company, who will either add it to their portfolio, turn it into a buy-to-let or flip it and sell it on.

Do You Need A Solicitor If You Are A Cash Buyer?

If you are selling your property to a cash buyer, you will still need a solicitor or conveyancer to carry out the conveyancing part of the process.

Although your solicitor doesn’t have to liaise with a mortgage lender, they will still need to come to agreements with the cash-buyers solicitors.

In most cases, the company that buys houses for cash will either pay for some or all of the solicitor fees.

Do Cash House Buyers Ever Fall Through?

While it is relatively rare, there have been instances where cash house buyers in the UK may fall through on a sale.

While companies that buy houses for cash generally offer more certainty in a transaction, unforeseen circumstances can arise that lead to a deal not being completed:

  • Financial difficulties:Although cash buyers are not reliant on mortgage lenders, they may encounter unforeseen complications like a change in cash flow or investors pulling out.
  • Survey Issues:During the due diligence period, the cash buyer might discover significant problems with the property that were not initially apparent. These issues could lead them to reconsider their offer or even withdraw from the transaction.
  • Legal issues:Legal disputes that arise during the transaction can potentially derail the sale if the cash buyer is not equipped to deal with them, which could include title problems, boundary disputes or other legal complications that the buyer and seller cannot resolve.

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Are House Cash Buyers Legit?

Most house cash buyers are legitimate businesses, and will have sold hundreds of houses across the country, however, there are some bad eggs out there.

BUT, that doesn’t mean that all companies aren’t genuine cash house buyers.

In fact there are many cash buying companies that are completely legitimate, like The Property Buying Company, Goodmove and We Buy Any Home.

These cash buyers are well rooted within the house buying industry and have been trusted by hundreds of homesellers over the years.

Is A Fast House Sale Company A Scam?

Not all fast house sale companies are a scam, but it’s definitely an interesting industry.

Cash house buying companies are not legally regulated and although a cash buyer might be part of The Property Ombudsman or National Association of Property Buyers, this is a voluntary redress scheme and not a regulator.

Whenever you enter an industry that is poorly regulated, you will find that there are plenty of unethical companies that take advantage of the system, some signs that you are dealing with a non-genuine cash buyer are:

  • They practise misleading advertising.
  • Missell option agreements and purchase agreements as actual sales.
  • Can not be found on Company House & have untraceable directors.
  • Have fake online reviews.
  • Drop their offer significantly at the last minute and have hidden fees.

Most non-genuine cash buyers will make an unrealistically high offer and promise to get the money into your bank within days of offering you a cash offer.

But, in reality, they will drag the process on for months in order to stall the sale, and then when you are finally beginning to approach completion, they might drop the price and gazunder you.

It may be important to note that, being gazundered at the last minute is very different from the cash buying company dropping the price based on a survey — which is a standard practice from genuine cash buyers.

How Do You Avoid Dodgy Companies That Buy Houses For Cash?

In order to avoid any dodgy cash buyers, you should do your own due diligence when trying to find house cash buyers.

This could be through the use of looking at verified review platforms like Google Reviews or TrustPilot. We would recommend you steer away from platforms like reviews.io who only allow positive reviews, and so don’t show you an accurate representation of their customer experiences

Furthermore, if a cash buying company asks for an upfront payment from you, asks for a cancellation fee within the paperwork, asks you to sign into an option agreement, or claims to provide a guaranteed sale for close to 100% of market value then you should think twice before using their service.

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Tom is a Digital Content Writer passionate about sustainable property & property trends. Regardless of the subject, he will always write blogs of the best calibre. Read more about Tom here.

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About Tom Condon 126 Articles
Tom is a Digital Content Writer passionate about sustainable property & property trends. Regardless of the subject, he will always write blogs of the best calibre. Read more about Tom here.

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