Frequently Asked Questions (FAQs)
How long does it take to complete a purchase?
We aim to meet your requirements, so if you need to sell your house fast and complete within 7 days to stop repossession and eviction, we can achieve this for you - if required we can even appoint a solicitor to act on your behalf. Alternatively if you need to complete for a specific date in a few weeks or months, we can achieve this also. Our service is designed to meet what our clients require, no two situations are the same, we treat everyone differently.
How much do you pay?
Typically we will offer between 70% and 85% of the property's market value. The actual price we pay will vary according to the type of property, the location, local property market conditions, etc.
What types of property do you buy?
We purchase all types of residential property, whether it is for an outright sale, sell and rent back, shared ownership, tenanted, in need of repair or refurbishment.
How do you determine the property valuation?
Initially we will obtain details from you during our first phone call. We then conduct research on property values for your area and review information from our own database to arrive at an initial valuation. We then visit your property to carry out a final appraisal to confirm our initial valuation and provide you with an offer letter.
Once you have made an offer, how long will it remain open?
The offer remains open for 30 days. However you are under no obligation to accept our offer until you have exchanged contracts via your solicitor.
If I have debts will it impact the sale of my property?
If your debts are unsecured (e.g. not secured against the property), then it does not matter how much debt you have. With secured debts you must have sufficient net equity (based on our valuation) over and above any debts secured on the property then this will not affect the sale. You will receive the net cash after outstanding debts secured on the property have been paid to your creditors. If you do have debts secured on the property these need to be made clear during our initial consultation so that we can help to establish the best course of action for your situation.
How much time do I have to move out of my property?
We are flexible, we will agree a date that suits you requirements before we exchange contracts. So, if you do not need a quick property sale and completion, but want to remain at the property for a few weeks or months after the exchange of contracts we can achieve this. We can even arrange for a date to tie in with any other needs you have, such as purchasing a new property.
How long can I rent back my property?
With sell and rent back the period for renting is very flexible, you can opt for a short term 12 month rental agreement, or a long term rental agreement. We will put forward proposals to meet your requirements.
Do I need my own solicitor?
Most of our clients use their own solicitor for conveyancing. However if required we can appoint a solicitor for you. If you need to sell your house very quickly we can recommend a solicitor to minimise the time it takes to complete a sale.
What other fees do I need to consider?
We do not charge any commissions or fees on the sale price agreed. To complete the sale of your property there will be fees charged by your solicitor and also building society or bank administration fees to clear your mortgage. Often we will pay for your reasonable solicitors fees to complete the sale. For absolute clarity when we make an offer it will clearly state the purchase price offered and the fees to be paid by ourselves before you advise solicitors to execute the sale.
Can you still help if I am in arrears with my mortgage payments?
In most cases this is not an issue providing you have some equity in the property. If you are faced with mortgage repossession and still want to keep your home we can also arrange for you to rent back the property.
Do you provide an option to buy back the property at a later date?
Yes we do. If your financial situation is temporary then selling and renting back in the short term to prevent repossession and eviction from your home may be the ideal solution. We can then provide an offer that gives you the option to buy back your property at any time in the future.
In summary, if you need a quick house sale or sell and rent back then RepayMortgage can achieve this for you. Every client's situation is different and we will provide a free no obligation proposal for your specific situation. Call us today on 0800 8600 285.
Related RepayMortgage property pages
Information on selling your house fast and quick house sales
For property sales in and around London fast house sales in London
The process to
stop eviction from your home.
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