We Buy Any Home: Are they any good?

We Buy Any Home is a cash buying company that operates in the UK. They claim to have a combined 300 years of experience in buying homes. As founding members of the National Association of Property Buyers (NAPB), and members of The Property Ombudsman (TPO) the company sets a number of high expectations. How good are We Buy Any Home, and how do they compare to traditional estate agents?

Who are We Buy Any Home?

We Buy Any Home states they are the UK’s leading cash buying company, and one of the only genuine cash buying companies around. They guarantee to buy any home regardless of size, shape or location for a price below market value. These transactions can be concluded in ‘as little as seven days’.

Valuation and legal fees are all paid for by the company. They let you take your time to decide whether or not you want to proceed with the sale after the valuation.

How do We Buy Any Home work?

We Buy Any Home outline their 10-step process on their website:

1. Complete the enquiry form online

Users can either fill out their online enquiry form or call their direct line for an introduction.

2. A representative will call you to discuss your details

If you have filled out their online valuation form, a representative will get in touch. If you rang them directly, We Buy Any Home will confirm some details about your property, including its size, condition and location.

3. Receive a cash offer from us over the phone

Within 24 hours of confirming your details with We Buy Any Home, you will receive a preliminary cash offer for your property.

4. Decide if you would like to proceed

There are no timescales involved - you can decide when you want to go forward with the transaction.

5. You complete and return our simple paperwork

You must return paperwork confirming your intent to sell with We Buy Any Home.

6. We instruct solicitors – free of charge

We Buy Any Home instructs two conveyancing solicitors to handle both ends of the transaction. You don’t have to pay any of their legal fees.

7. We instruct two (max) qualified surveyors/valuers to assess your property FOC

Two qualified surveyors are instructed to assess your property, their fees paid for by We Buy Any Home.

8. Following the valuation report and legal check, a final price is provided

The cash offer made at the beginning of the property sale is subject to change after We Buy Any Home receives the results of the surveyor’s valuation report and legal checks.

9. You confirm on a completion date that is suitable for you

We Buy Any Home promises to complete the sale in ‘any time you need them to’.

10. Sale completes and you receive the funds

In as quick as seven days, your sale completes and the funds are transferred to your account, courtesy of We Buy Any Home’s instructed conveyancer.

How long does it take We Buy Any Home to buy my house?

We Buy Any Home states that they can purchase your home, with money transferred to your account, in as little as seven days. However, you can typically expect the process to take at least 14 - 21 days. The cash buying company maintains that they are able to adjust the sale according to your timescale.

Are We Buy Any Home really free?

We Buy Any Home promises not to charge any fees for valuations, surveys or legal proceedings. They may require a deposit (est. £500) to ensure the property is left in a good, clean condition before you vacate it, but this is usually returned within two weeks of completion.

While We Buy Any Home’s services are free, there are some costs associated with selling with a cash buying company that you may not have considered.

Buying another house

If you are selling your main residence, you will need to purchase a new home. These costs can be extensive, and they are made all the more expensive by selling with a cash buying company. You will nearly always receive much more for your home by selling with an estate agent, and as a result, have much more autonomy in choosing and paying for your next home.

Removals

If your house contains a large number of possessions and belongings, you will need to rent a removal van to transfer everything to a safe place. This can cost anywhere from £900 to £1700.

Storage

If you aren’t ready to move your belongings to your new property, you will need to store them in a storage facility. Storage fees vary depending on the size of the container you need, and how long you need it for. They can cost hundreds to thousands of pounds.

How much do We Buy Any Home pay?

We Buy Any Home doesn't outrightly say how much they pay homesellers - each transaction depends on the property involved. However, they do outline what they consider fair and unreasonable offers below:

“You should realistically expect a property buying company to offer no more than 85% of the full market value for a quick sale. On the other hand, any offer lower than 70% of the full market value is probably unfair.” https://www.webuyanyhome.com/buyers-advice/

Can you negotiate with We Buy Any Home?

It’s unclear whether you can negotiate with We Buy Any Home, but it’s unusual to have much negotiation power with a cash buying company. The benefits of a ‘no-chain’ sale, and cash in your hands within a matter of weeks, are the main attractions of these businesses. Profit, or the potential for profit, are the downsides.

If you want more money and negotiating power, sell with a reliable estate agent. The sale might take longer than with a cash buying company, but you usually reap greater returns.

Do I need my own solicitor with We Buy Any Home?

No, you do not need your own solicitor with We Buy Any Home. The company provides you with one.

The reliability of We Buy Any Home’s solicitors is questioned in some of the reviews left on Google and Trustpilot. As these are anecdotal accounts, their validity is unclear. However, it’s worth being on your toes whenever a cash buying company (no matter how reputable) offers you a solicitor. You may have to stay on their case to get the sale completed within a specific timeframe.

We Buy Any Home reviews

We Buy Any Home is well reviewed on both Trustpilot and Google. Many of its positive reviews highlight the benefits of a speedy sale at the sacrifice of thousands of pounds. Negative reviews on the other hand, describe offers made at 65% of their property’s market value, as well as long delays.

Are We Buy Any Home any good?

As a cash buying company, We Buy Any Home offers a greater level of legitimacy than many of its competitors. They are founding members of the NAPB, and members of The Property Ombudsman. This means they are willing to hold themselves accountable for good business practices. Naturally, this makes them a more trustworthy alternative to other companies.

If you’re willing to sacrifice up to 40% of your property’s market value for a quick sale, We Buy Any Home is a great choice. However, property is one of the most valuable forms of investment in modern day Britain. By selling with a traditional agent, you stand to make good returns on your property sale - so long as you're patient, and are prepared to put some time and effort into your sale.

We Buy Any Home vs Estate Agents

On their website, We Buy Any Home offers a comparison between their services and selling with a traditional estate agent. You can see the example in the table below:

This table outlines the apparent benefits of selling property with We Buy Any Home. Homesellers can expect to make, what is essentially the same profit (minus £218), by using their services over an estate agent’s. However, there are a number of issues with their table.

1. The first is the estate agent’s fee. While 3.56% is not unheard of, agents usually charge between 0.75% and 3% of your property’s final sale price. Most homesellers are unlikely to be charged as in the example above.
2. The second problem is the contention that you lose more money (£218 in the example) by selling with an estate agent. By selling with a reliable, local estate agent, you actually have a good chance of hitting your asking price - in this case, £107,000.

Selling your home for a good amount of money relies on a number of factors, some of which are out of your control, like market conditions and your location. What you can control is when you decide to sell, and who you decide to sell with.

Cash buying companies only generate a profit by selling properties for more than what they paid the original homersellers. If you receive an offer from such a company, there’s a good chance that there’s more money to be made.

High street estate agents, on the other hand, are actively incentivised to sell your home for as much money as possible. Their knowledge of the local market, marketing and sales skills make them valuable assets for those looking for an impactful sale. Though choosing to sell with an agent may lead to a longer selling process than with a cash buying company, it’s a sacrifice that many are happy to make.

To give your property the best chance possible on the open market, you need to choose a reliable estate agent using accurate data. Our free Estate Agent Comparison Tool analyses data from the Land Registry and property portals to determine the six top-performing agents in your postcode.

Summary: Is it worth using We Buy Any Home?

Pros

• They’re a guaranteed cash buyer with immediate funds available
• They are members of the NAPB and TPO
• They apparently have good reviews on Google and Trustpilot
• You might sell much faster than with an agent

Cons

• You won’t sell your home for any more than 85% of its market value
• Your property sale might not be as fast as outlined
• If you’re buying another home, your options will be limited
• You are using solicitors of their choice
• Cleaning deposit required

Alternatives to We Buy Any Home

Looking for another NAPB member? Check out our review of Goodmove.