Quick house sale companies: how to check one before you sign

Search for “sell my house fast” and you’ll find dozens of companies offering quick, guaranteed sales. Some are genuine buyers. Some are marketing firms that pass your details on. There is no dedicated regulator for the sector, so it’s worth knowing how to tell them apart.

What the official research found

In 2013 the Office of Fair Trading studied the quick house sale sector. Its findings are dated, but they’re still the most thorough official look at how these firms operate:

• Quick sales were a small part of the market — around 0.5–1% of UK sales.
• Sellers typically gave up between 10% and 25% of market value.
• Where prices were reduced after a survey, cuts ranged from 7% to 53% of the original offer — 22% on average.
• It flagged last-minute price reductions, unexpected fees, misleading valuations and false “cash buyer” claims.

How the sector is regulated

Property buying companies don’t need a licence. Two voluntary schemes set standards:

The National Association of Property Buyers (NAPB)

Set up in 2014 in response to the OFT study. Members agree to a code of practice and must register with The Property Ombudsman for independent redress.

The Property Ombudsman (TPO)

TPO’s code for residential property buying companies applies to its members. Among other things, members must:

• tell you the sale will be at a discount to open-market value
• not claim to be a cash buyer if they rely on mortgage finance
• not deliberately misrepresent a property’s value
• not reduce the price late in the process without a valid reason, given in writing
• not mislead you about timescales
• set out all fees in writing, including VAT, with the offer

Businesses marketing to consumers must also not mislead them under the Digital Markets, Competition and Consumers Act 2024, which the Competition and Markets Authority can now enforce directly.

Warning signs

• An offer made without anyone looking at the property, followed by a much lower figure after a “survey”.
• Pressure to sign quickly, or an exclusivity agreement that stops you talking to anyone else.
• Upfront fees, or fees that only appear at the end.
• A “cash buyer” who won’t show proof of funds.
• A firm that is really an introducer, passing your property to investors.
• Promises of full market value and a guaranteed quick sale at the same time.

Questions to ask any buyer

Reading reviews

Look for reviews on independent platforms, not just on the company’s own site. Read the negative ones: are complaints about price reductions, delays or pressure? And check whether the reviews describe completed purchases or just initial phone calls.

Compare before you decide

Get a realistic valuation from a local estate agent alongside any direct offer, so you know what speed is costing you. Our guides on whether you can sell fast for market value and every way to sell fast will help.

What a fair process looks like

1. An initial conversation about the property and your situation.
2. A visit, or a clear explanation of why one isn’t needed.
3. A written offer with the reasoning and any conditions spelled out.
4. Time to think, and to compare other options, with no pressure to sign.
5. Solicitors instructed on both sides — your own solicitor, not one chosen for you.
6. Any change to the price explained in writing, with evidence, before exchange.

Exclusivity agreements

Some firms ask you to sign an agreement that stops you selling to anyone else for a set period. Read it carefully: how long does it last, what happens if you pull out, and are there fees? A short period can be reasonable while a buyer carries out checks. A long one, combined with a price that later drops, leaves you with little choice.

If something goes wrong

Complain to the company in writing first. If it belongs to a redress scheme such as The Property Ombudsman and you’re not satisfied with the response, you can take your complaint to the scheme. The Citizens Advice consumer helpline can also advise, and can pass information to Trading Standards.