We Buy Any House review: Are they any good?

With over 10 years of trading experience, We Buy Any House (webuyanyhouse.co.uk/) claims to be the UK’s leading, and most trusted house buyer. But are they all that they say? What makes them stand out in an industry that’s saturated with other cash buyers?

Who are We Buy Any House?

We Buy Any House is a cash buying company that operates in the United Kingdom. They purchase all types of properties across the UK, regardless of condition or perceived value, including apartments, houses, bungalows and ex-local authority buildings.

One of the clear distinctions that We Buy Any House makes against its competitors is the fact that they offer up to 90% of a property’s value. Many other cash buying companies only offer up to 70% or 85% of properties they value.

They claim that their offers are zero obligation; you can quit the process at any time before the exchange of contracts. Their appraisals and legal processes are all free of charge.

How do We Buy Any House work?

1. Initial contact

To begin the process of selling with We Buy Any House, you either call them on their 24/7 phone line, or fill out their online form on webuyanyhouse.co.uk.

Regardless of your chosen method of contact, you will be asked a series of questions about your property, including its location, size, and distance from local amenities.

2. Valuation

In under 24 hours, We Buy Any House will create a valuation based on both the information you provided, as well as various other data, including the prices of properties recently sold in the area.

3. Appraisal and offer

If you wish to proceed with the process, We Buy Any House will arrange for an independent appraisal of your property. The appraisal is usually carried out via video.

In receipt of this assessment, We Buy Any House will then make a formal cash offer. This can be achieved within 24 hours of initial contact.

4. Exchange and completion

If you are happy with the offer you have received, the cash buying company will arrange a date for completion that fits your timescale. If you are in a rush to sell, the whole process can apparently be completed within 14 days.

Once you have accepted their offer, We Buy Any House will arrange for a solicitor to handle all of the conveyancing work on your behalf. All your legal fees will be paid for, and any costs will be outlined in their quote.

You could use a solicitor of your own, but this would mean paying the fees yourself.

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

We Buy Any House claims to be able to purchase your property within as little as three days, but this can take much longer according to their reviews, with some transactions having been completed in 11 weeks or more.

According to past reviews, the speed of the transaction depends on whether or not you accept their instant cash offer, or refer to their database of cash buying investors. Their instant offers are often markedly lower than those you could receive from a cash buying investor, however, choosing the investor route could see the sale take as long as five months to complete.

Are We Buy Any House really free?

Yes they are really free, but to have your legal fees paid you must instruct a conveyancer that We Buy Any House recommends.

Although We Buy Any House prides itself on no hidden fees or costs, there are some expenses you might not have considered.

We Buy Any House fees

We buy any house don’t charge any fees or commision. While many cash buying companies charge for paperwork, valuations, and even conveyancing, We Buy Any House takes care of your valuation and legal fees.

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. They 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 does We Buy Any House pay?

We Buy Any House claims to purchase properties for up to 90% of their value, but you can expect this to be much lower. It’s uncommon for any cash buying business to purchase properties for 90% of their value.

Numerous reviews on Trustpilot suggest that We Buy Any House reduce their offers at the last minute prior to the exchange of contracts. This is known as gazundering, and it’s a prevalent tactic within the property cash buying industry. This can lead some sellers to make only a fraction of what their property was worth.

According to one review on Trustpilot, We Buy Any House initially guaranteed the homeseller £375,000 for a property worth £400,000. After several months, a revised offer of £240,000 was made - only 60% of the property’s market value.

Another We Buy Any House customer reported that they received two options for selling a property which was initially valued at £400,000: a direct sale to We Buy Any House for £280,000, or to a qualified investor from their database for £355,000. The investor route took five months for the sale to complete. This is longer than a sale with a reliable estate agent would take, and for much less money.

Can you negotiate with We Buy Any House?

It’s unclear whether you can negotiate with We Buy Any House, but it’s unusual to have much negotiation power with any cash buying company. The benefits of a ‘no-chain’ sale, and cash in your hands within a few 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 if some of the reports about We Buy Any House are to be believed, it seems sales often complete in similar timeframes.

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

No, We Buy Any House offer to provide and pay for a solicitor of their choice. If you want to choose your own solicitor, you will have to pay for their legal fees.

We Buy Any House reviews

We Buy Any House scores well on Trustpilot and Reviews.io. Many of these glowing reviews praise the professionalism of their team, as well as the efficiency of the transaction. One customer writes ‘an excellent trustworthy Company (...) found a buyer for my house within 2 months, she explained everything fully and made the sale very easy. I would definitely recommend them.’

The negative reviews, found mostly on Trustpilot, suggest a different story. Aside from protracted sales and gazundering tactics, some reviewers state they were harassed by unsolicited text messages and emails.

Are We Buy Any House any good?

The good ratings on Trustpilot and Reviews.io suggest that We Buy Any House is a trustworthy cash buying company. However, they are not reputable.

Their lack of membership to the National Association of Property Buyers (NAPB) is concerning. The NAPB is a voluntary group of cash buying companies signed up to The Property Ombudsman’s Scheme’s (TPOS) Code of Practice for Residential Property Buying Companies. They promise to uphold fair trading practices.

That said, We Buy Any House are members of The Property Ombudsman, a scheme that seeks to help resolve disputes between agents and homesellers fairly.

Ultimately, We Buy Any House should be treated with the same caution as any cash buying company. That is, only as a last resort. With only 261 reviews as of May 2022, it’s hard to have an accurate picture of how good they actually are.

We Buy Any House vs Estate Agents

On their website, We Buy Any House offers their own take on their company’s performance versus that of an estate agent’s.

The table suggests that, after all the trouble of selling with an estate agent, you will still receive the same amount of money as selling with We Buy Any House.

In most cases, this example is inaccurate. You would be lucky to receive an offer for 85% of your property’s value by selling with a cash buying company. More often than not, your property will receive an offer between 60% and 80%.

What’s more, the example relies on the prospect of an agent selling a property for a price that’s below market value. This is unlikely, especially if you sell with a top-performing estate agent from your local area. You stand to achieve not only your market price, but your asking price and above.

A more accurate table would look something like this:

Of course, there are some limitations that may prevent an agent from achieving a sale above market value. Location, property type, and condition all play a role in how well your property performs on the market. Rest assured however, that if a cash buying company is willing to take a property off your hands, there is more profit to be made.

Summary: Is it worth using We Buy Any House?

Pros

• They’re a guaranteed cash buyer with immediate funds available
• They are a member of The Property Ombudsman
• You may sell much faster than with an estate agent
• They have mostly good reviews

Cons

• You’re unlikely to get 90% of your home’s market value
• They are not members of the NAPB which is a red flag
• Reports of taking just as long as an agent to sell
• They don’t have many reviews and some are very poor
• Some evidence that they spam users with messages

Alternatives to We Buy Any House

If you’re still keen on using a cash buying company, try one that’s held accountable by the NAPB:

• Good Move
• The Property Buying Company
• We Buy Any Home

Or better still, why not compare agents and find a reliable, local agent that can sell your home for more?