Selling your home directly to a cash buying company is quicker and simpler than the open market, but it is still a proper property transaction with the same legal protections. Here is what is involved, so you know exactly what to expect.

You still use a solicitor or conveyancer

A direct sale is not a handshake deal. A qualified solicitor or licensed conveyancer handles the legal transfer, exactly as they would in any sale. They act in your interest, carry out the conveyancing, and make sure the transaction is correct and binding. You should never sell a property without proper legal representation, and a genuine buyer will insist on it too.

Identity and anti-money-laundering checks

By law, property buyers must verify who they are dealing with and the source of funds. You will be asked for proof of identity and address. These checks are a legal requirement on every sale, and they are a sign you are dealing with a legitimate, accountable company rather than an unregulated broker.

Searches, enquiries and the contract

Your solicitor will raise the standard pre-contract enquiries and, where appropriate, carry out searches. You complete the usual property information forms, disclosing what you know about the home. Once both solicitors are satisfied, a contract is drawn up setting out the price and the completion date.

Who pays the legal fees

On the open market you normally pay your own legal costs. With a direct sale, a reputable cash buyer will usually cover the legal fees, so the offer you accept is the amount you actually receive. Always get this confirmed in writing at the outset.

Exchange, completion and price certainty

Exchange of contracts is the point at which the sale becomes legally binding; completion is when the money is transferred and ownership passes. A real benefit of a direct sale is that you can often fix a completion date to suit you, and a fair buyer holds the agreed price all the way through — no last-minute reductions on the day of exchange, a tactic some buyers in this industry rely on.

At Any Property Wanted we instruct an independent solicitor to act, we cover the legal costs, and what we offer is what you are paid. We buy across the West Midlands and are a member of The Property Ombudsman and registered with the ICO.