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Our most frequently asked questions
How fast can you buy my home?
How fast do you need? We can turn around a house purchase in as little as two weeks if you need it. Of course, it doesn’t have to be as fast as that. We can work to any timescale that suits you, from weeks to months, with a completion date agreed to fit in perfectly with your plans. Just tell us what suits you best and we’ll organise everything for you.
How do I know that you won’t undervalue my house?
It simply wouldn’t make sense to do that. Our business is based on buying as many homes as possible, so we want to make our offer as good as it can be. If we value your home too low, you are more likely to reject our offer and we’d lose out on the chance to buy from you. It’s in everyone’s best interests for us to value your home correctly.
What’s the rough price you’ll pay?
We will typically pay around 80-85% of the market value of your property. The actual figure varies according to a number of factors, including the two reports we receive from the local estate agents we appoint, the strength of the local and national housing markets, the type of property you are selling and its overall condition. We combine a wide range of information, using years of experience and state of the art software, to come up with the best possible offer on your property.
Another company has offered me 90%?
No genuine house buying company will ever offer 90%, because it is simply not viable. So if you receive an offer like this, you should proceed with extreme caution and read the small print very carefully. Either they will suddenly reduce the offer at the last minute, which often happens, or they will drastically undervalue your home so that they can offer 90% of a lower valuation. In either case, you will lose out. We offer 80-85% of the market value of your home, so that we make enough to cover our costs. This includes three sets of legal fees, valuation costs, survey fees, stamp duty on the purchase and all the costs of running our business. No house buying company can cover all of these costs with a genuine margin of just 10%, so you can be sure that they will be looking to boost their profits somewhere along the line.
What do you mean by “full market value”?
Full market value is what you could get after your home has been on the open market for around 6 months.
However, it is worth remembering that this figure is often reduced by speculative offers, survey issues and other negotiations along the way.
It also does not include your estate agent’s fees – which will reduce it by as much as 2-3%, or your solicitors fees, which could be as much as £1,500.
Do you charge any fees?
No. My Homebuyers do not charge any fees for our services. In fact, we will pay all of your costs for you, including your valuation fee, your survey fee and your legal fees. Everything is included in the price we offer you, with nothing more to pay. We make our money by selling the homes we buy at full price on the open market.
What if I don’t want to accept your offer once you’ve made it?
That is entirely up to you. We undertake your valuation free of charge with no obligation to accept the offer we make. There is no pressure to sell, so you can take your time and weigh up your options. We’re here if you have any questions, or need to discuss anything with, but we won’t hassle you with a hard sell. Your offer is valid for thirty days, so you have plenty of time to think about it. If you decide not to sell to us, we will completely understand. There’s no hard feelings and our door will always be open if you change your mind. In most cases, our offer will not change if you come back in a few months, and if house prices rise, we may even be able to offer you a little more.
What do I do to accept your offer?
You can either accept the offer when it is first made to you by our purchasing director, Kelvin Elliott, or you can take your time to consider your options and let us know later. Your offer is valid for thirty days, so you have plenty of time to think about it. When you are ready to accept, just give us a call and we’ll get started on a home sale on your terms, with a completion date of your choice. We’ll talk you through what happens next and what you need to do, and we’ll keep in touch with regular updates as your sale progresses.
Do I need a solicitor?
Yes. Just like any home sale, you will need a solicitor to act on your behalf and liaise with our solicitors, but the good news is that we will pay their fees for you. You can either choose your own solicitor, perhaps one you have used before or one who has been recommended by friends or family, or we can recommend one for you that we know has a high level of service. Whoever you choose, your solicitor works for you not us, so there is no conflict of interests.
Will you have a survey done on my property?
Yes, we will arrange for a survey at our expense after you have accepted our offer and we have agreed to buy your property. This will be conducted by a professional surveyor registered with the Royal Institute of Chartered Surveyors (RICS).
The purpose of this survey is not to find fault but simply to check that there are no major issues with the property that we were not previously aware of. This is done as soon as you accept our offer.
What If my circumstances change and I need to change the completion date?
A sale to My Homebuyers is always on your terms. You set the completion date that suits your plans from the start, and we will work towards that. Of course, however well you prepare, things can and do happen that alter your plans. With a traditional home sale, this can lead to complications, requiring temporary accommodation, bridging loans or even the sale falling through if you can’t complete as agreed. With My Homebuyers, your sale is in your hands and is completely flexible. So if you need to change your completion date at any time, for any reason, just let us know and we’ll start working to your new schedule.
What happens on completion day?
We’ll arrange for a local estate agent to meet you at the house at your convenience. They will check that everything is in order and confirm this to us. We’ll then instruct our solicitors to authorise completion and send the money to your solicitor, who will pay it into your bank account. The agent will take your keys and your sale will be complete.
When do I receive the cash for my property?
You will receive the money in your bank account on the same day as you complete.
Enquiry and receiving offer
How fast can you buy my home?
How fast do you need? We can turn around a house purchase in as little as two weeks if you need it. Of course, it doesn’t have to be as fast as that. We can work to any timescale that suits you, from weeks to months, with a completion date agreed to fit in perfectly with your plans. Just tell us what suits you best and we’ll organise everything for you.
How long will it take to get my offer?
You can get an estimated offer in just minutes, either by entering your details online, or by calling one of our friendly team. A formal offer takes a little longer, but we can move fast if you need an offer urgently. We can get a formal offer to you in as little as 4 hours from when you first contact us if needed.
What’s the rough price you’ll pay?
We will typically pay around 80-85% of the market value of your property. The actual figure varies according to a number of factors, including the two reports we receive from the local estate agents we appoint, the strength of the local and national housing markets, the type of property you are selling and its overall condition. We combine a wide range of information, using years of experience and state of the art software, to come up with the best possible offer on your property.
Another company has sent me a contract to sign, will you do the same?
No, we never ask our customers to sign anything before the sale is agreed. Some companies use contracts to lock you in to selling with them, or to restrict you to only using them for a set period of time, but we don’t do this. We let our genuine, guaranteed offers speak for themselves, and it’s entirely up to you whether you proceed or not. If you are interested in our estimated offer, we will arrange a free valuation of your home, but there is no obligation to accept the formal offer that follows. You can still walk away if you change your mind or you can’t work with this offer. There is nothing to sign until we agree a sale, and even then you will only need to sign the same documents with your solicitor that you would as part of any other home sale.
Another company has offered me 90%?
No genuine house buying company will ever offer 90%, because it is simply not viable. So if you receive an offer like this, you should proceed with extreme caution and read the small print very carefully. Either they will suddenly reduce the offer at the last minute, which often happens, or they will drastically undervalue your home so that they can offer 90% of a lower valuation. In either case, you will lose out. We offer 80-85% of the market value of your home, so that we make enough to cover our costs. This includes three sets of legal fees, valuation costs, survey fees, stamp duty on the purchase and all the costs of running our business. No house buying company can cover all of these costs with a genuine margin of just 10%, so you can be sure that they will be looking to boost their profits somewhere along the line.
Do I have to accept your offer straight away?
Not at all. There is no pressure to sell, so you can take your time and weigh up your options. We’re here if you have any questions, or need to discuss anything with us, but we won’t hassle you with a hard sell. Your offer is valid for thirty days, so you have plenty of time to think about it. If you decide not to sell to us, we will completely understand. There’s no hard feelings and our door will always be open if you change your mind. In most cases, our offer will not change if you come back in a few months, and if house prices rise, we may even be able to offer you a little more.
What if I don’t want to accept your offer once you’ve made it?
That is entirely up to you. We undertake your valuation free of charge with no obligation to accept the offer we make. There is no pressure to sell, so you can take your time and weigh up your options. We’re here if you have any questions, or need to discuss anything with, but we won’t hassle you with a hard sell. Your offer is valid for thirty days, so you have plenty of time to think about it. If you decide not to sell to us, we will completely understand. There’s no hard feelings and our door will always be open if you change your mind. In most cases, our offer will not change if you come back in a few months, and if house prices rise, we may even be able to offer you a little more.
Can I sell someone else’s house?
Usually, your name has to be on the title deeds in order for you to sell a property to us or to anyone else. However, there are circumstances where this is not the case. For example, if you are selling the home of a deceased person as an executor / administrator of their will, or if you have power of attorney for someone who is not able to act on their own behalf, then you may be able to sell their home to us. To discuss your situation and see if you are eligible to sell a property to us, talk to our friendly team today.
What do I do to accept your offer?
You can either accept the offer when it is first made to you by our purchasing director, Kelvin Elliott, or you can take your time to consider your options and let us know later. Your offer is valid for thirty days, so you have plenty of time to think about it. When you are ready to accept, just give us a call and we’ll get started on a home sale on your terms, with a completion date of your choice. We’ll talk you through what happens next and what you need to do, and we’ll keep in touch with regular updates as your sale progresses.
Why choose us
Do you charge any fees?
No. My Homebuyers do not charge any fees for our services. In fact, we will pay all of your costs for you, including your valuation fee, your survey fee and your legal fees. Everything is included in the price we offer you, with nothing more to pay. We make our money by selling the homes we buy at full price on the open market.
Why would I sell my house for less than it is worth?
For some people, the speed and convenience of our service means more to them than just getting the best possible price. Perhaps you want to sell an inherited home so you and your siblings can share the money sooner. Maybe you need to move fast when you are relocating for work. Or you might just want to get on with your life instead of waiting in limbo for six months or more on the open market. Having a certain sale, arranged on your terms, also puts you in a much stronger position when it comes to buying your next home. Many of our clients find that they can negotiate a lower price on their new home, because they have a guaranteed sale on their old one, with no chain. It’s also worth remembering that you won’t end up with the full value whichever way you sell. After estate agent fees, solicitor’s fees and all the other costs of selling, you will always get less than the full value in the end.
Valuing your home
How do you value my property?
Valuing property is a science. When valuing a property, we look at location, condition, size and the local market. The question that we are asking is, what is the property going to sell for in its current condition and how long will it take to sell in the current market.
We use sophisticated valuation tools along with the professional opinion of local estate agents and surveyors to determine the value of a property.
How do I know that you won’t undervalue my house?
It simply wouldn’t make sense to do that. Our business is based on buying as many homes as possible, so we want to make our offer as good as it can be. If we value your home too low, you are more likely to reject our offer and we’d lose out on the chance to buy from you. It’s in everyone’s best interests for us to value your home correctly.
My house is scruffy and needs redecorating; will this affect your offer?
Not at all, one of the benefits of a straightforward sale to My Homebuyers is that you don’t have to spend hundreds of pounds, and waste endless weekends, smartening up your home ready to sell. And you won’t have to put up with months and months of viewers looking down their noses and judging your taste.
We will buy your home right now, whatever condition it is in, leaving you free to spend your time and money on more interesting things.
Is there any cost for a valuation?
No, your valuation will be arranged free of charge and there is no obligation to accept the offer that we make based on this.
My Homebuyers service is free of charge from start to finish. We pay for your valuation, survey and your solicitors fees, and there are no estate agents or other middlemen to pay.
What do you mean by “full market value”?
Full market value is what you could get after your home has been on the open market for around 6 months.
However, it is worth remembering that this figure is often reduced by speculative offers, survey issues and other negotiations along the way.
It also does not include your estate agent’s fees – which will reduce it by as much as 2-3%, or your solicitors fees, which could be as much as £1,500.
Do you take renovation work into account when valuing my house?
We will take all aspects of your property into account, including any renovations, extensions or home improvements you have made. Every home is considered individually, and on its own merits.
What if I don’t know what my house is worth?
Not a problem, if you’re not sure what your property is worth, you can simply call our friendly team.
They will be able to work out an approximate valuation for you based on the information that you provide. Then we can give you a ballpark figure of what an offer is likely to be. If the figure is something that you can consider, then at no cost or obligation we will go to full valuation and make you a formal offer.
My house is currently on the market, will you take the asking price as full market value?at my house is worth?
The asking price is a good indication of what a property is worth, if valued by a good competent local estate agent. For us to make a formal offer we will always need to conduct a full independent valuation.
Sales & Solicitors
What happens if I have a mortgage or other loans secured on the property?
An outstanding mortgage or other loan secured on your property is not a problem and will not affect your sale to us. As with any other property sale, your solicitors will take care of any outstanding finance attached to your home as part of the conveyancing process.
They will contact your mortgage company, and any other lenders with a charge on your home, and obtain settlement figures from them. They will then pay these companies directly from the proceeds of the sale and pay the remainder into your bank account. Remember, all your solicitor’s fees are paid for by My Homebuyers as part of our service.
Do you need any further ID checks?
Yes, we will carry out an independent ID check where an agent from a third party company will meet you at the property to see some form of ID (passport/ driving license etc) this will take around 15 minutes and is to protect us from fraud.
Do I need a solicitor?
Yes. Just like any home sale, you will need a solicitor to act on your behalf and liaise with our solicitors, but the good news is that we will pay their fees for you. You can either choose your own solicitor, perhaps one you have used before or one who has been recommended by friends or family, or we can recommend one for you that we know has a high level of service. Whoever you choose, your solicitor works for you not us, so there is no conflict of interests.
Will you have a survey done on my property?
Yes, we will arrange for a survey at our expense after you have accepted our offer and we have agreed to buy your property. This will be conducted by a professional surveyor registered with the Royal Institute of Chartered Surveyors (RICS).
The purpose of this survey is not to find fault but simply to check that there are no major issues with the property that we were not previously aware of. This is done as soon as you accept our offer.
Completion and moving out
If I accept your offer, how long will it take for a sale to complete?
It’s entirely up to you. If you are in a rush, we can work fast, completing in as little as two weeks. Beyond that, you can choose to complete as quickly or as slowly as you need to. We are happy to fit in with your schedule to make your move as smooth and hassle free as possible. Just let us know when you want to complete and we’ll get our solicitors to arrange everything for that date, with your money in your bank on that day.
What if I’m not quite ready to move?
Just because we can buy your house in fourteen days, doesn’t mean we have to. A sale to My Homebuyers is entirely on your own terms, so you decide when you want to move out.
Just let us know when you want the sale to complete and we will work towards that date. And if your circumstances change, we can change the date to match, just let us know.
Can I still live in the property after you have bought it?
No, you will have to vacate the property on the day of completion, but you can set this date to suit your plans. A sale to My Homebuyers is always on your terms, and we will arrange everything at your convenience to suit your timescale.
If your circumstances change and you need to move your completion date, just let us know and we will arrange this for you. The process remains under your control throughout so you never have to move out if you are not ready to.
Do I have to clear my house?
Ideally your property would be empty on completion day, but we understand that this may not be possible in some circumstances, or that you may not want to face clearing the home of a deceased loved one. If this is the case, just let us know and we will arrange to have this done for you by a local house clearance company. There is no fee or administration charge for this, but we will need to pass on the cost of the company we use.
What If my circumstances change and I need to change the completion date?
A sale to My Homebuyers is always on your terms. You set the completion date that suits your plans from the start, and we will work towards that. Of course, however well you prepare, things can and do happen that alter your plans. With a traditional home sale, this can lead to complications, requiring temporary accommodation, bridging loans or even the sale falling through if you can’t complete as agreed. With My Homebuyers, your sale is in your hands and is completely flexible. So if you need to change your completion date at any time, for any reason, just let us know and we’ll start working to your new schedule.
What happens on completion day?
We’ll arrange for a local estate agent to meet you at the house at your convenience. They will check that everything is in order and confirm this to us. We’ll then instruct our solicitors to authorise completion and send the money to your solicitor, who will pay it into your bank account. The agent will take your keys and your sale will be complete.
When do I receive the cash for my property?
You will receive the money in your bank account on the same day as you complete.
Our business
What do you do with my house once you have bought it?
Once we have completed on the purchase, we will put the property on the open market and hope to achieve its full market value.