Open Property Group Addresses Common Misconceptions About Cash House Buyers

GERRARDS CROSS, UK. 1st October, 2024 - Open Property Group recently surveyed their database to find the most alarming myths and misconceptions towards Professional Cash House Buying companies.

Jason Harris-Cohen, Managing Director of Open Property Group, emphasised the importance of transparency in the industry, stating, "“We were keen to get an insight into how our customers previously perceived the industry before we successfully bought their properties. We’ve built our reputation on credibility, transparency and providing the right solution for our customers, but now it’s time to dispel these common myths”. 

Myth 1: “The speed of property sale is too good to be true”
Cash house buyers like Open Property Group offer swift transactions for several reasons. Removing estate agents simplifies the process—fewer intermediaries lead to quicker sales. Additionally, Open Property Group bypasses prolonged marketing and viewings, making almost instant offers and allowing conveyancing to start immediately.

Myth 2: “Cash house buying companies lack credibility”
Reputable firms consist of experienced professionals across property purchasing, management, and finance. Open Property Group is a member of The National Association of Property Buyers (NAPB), which collaborates with The Property Ombudsman to uphold industry standards and establish a Code of Practice.

Myth 3: “There’s pressure to accept an offer”
Open Property Group provides no-obligation offers. Sellers can take time to consider, proceed immediately, or reject the offer outright, with no pressure involved.

Myth 4: “Only properties in good condition receive offers”
Unlike traditional estate agents, Open Property Group buys homes in any condition. Whether the property is damaged by fire, flooded, or in need of extensive renovations, Open Property Group purchases ‘as seen,’ including homes with subsidence, damp, or even Japanese Knotweed.

Myth 5: “Cash house buyers only help desperate sellers”
Cash house buying companies like Open Property Group assist in various situations:

A landlord who needs to sell their property but wishes to avoid disrupting tenants can sell the property with the tenants in place. Open Property Group takes over the tenancy, ensuring a smooth transition and continuity for the tenants.

When an estate requires a quick sale of a probate property to settle debts or pay taxes, a cash sale prevents executors or administrators from having to cover expenses from their own funds.

In cases where a home mover faces a collapsed property chain, Open Property Group can provide a guaranteed offer. This helps preserve the seller’s onward purchase and keeps the property chain intact.

To read more about these myths and their responses, visit https://www.openpropertygroup.com/why-choose-us/cash-house-buyer-myths/