FAQ – Frequently Asked Questions
Q: How long does it take to sell to sell a property?
Ans: By working with a cash buyer the sale can go through very quickly, usually under 28 days depending on circumstances. However we can in certain cases exchange in as little as 24 hours. It really depends on the vendor though and how fast they want to proceed.
Q: What areas does Leonard Property cover?
Ans: We specialise in London but have associates throughout the UK
Q: I am in negative equity – is there anything I can do?
Ans:There possibly may be something we could do but we’d need more details. Call us to discuss and we’ll be able to tell you very quickly if there is anything we can do.
Q: What price can I expect for my property?
Ans: For a straight purchase we typically pay trade prices which are in the region of 70-80% of the market value of the property. In this market there is no guarantee that you’ll get that with an estate agent, plus with an estate agent you could be waiting 6 months to a year just to find a buyer, if at all. There are also fees etc so often it doesn’t work out very well. With us you get a guaranteed offer, we work as fast as you need us to, there are no hidden costs, we even pay legal and survey fees, the sale is confidential and there is no fuss. There are times when a seller has little equity so is unable to sell. It is still possible for us to help out, see next question
WARNING: Be very wary of any investor who offers 85-90% of the market value. Unfortunately it has been known for some unscrupulous investors to offer high prices only to push them down at the last minute. In today’s climate, properties on the open market are selling at about 90% of the asking price and taking about 5 – 8 months to go to completion, with 1 in 3 sales falling through. Taking this into account, red flags should go up if an investor makes a guaranteed offer of a quick sale at 85% of market value. Not to mention the fact that it really isn’t commercially viable for an investor to do so at this current time.
Q: I don’t have much equity – can I still sell it?
Ans: In certain cases this may be ok, call or fill in the form to the right to find out if this is the case.
Q: I don’t have a solicitor – is that a problem?
Ans: No we can appoint one for you. In fact due to the very short timescale’s in which we operate, very few solicitors can do the required work in the time available. Consequently we have a panel of solicitors that we use regularly who we know can get the job done speedily.
Q: I have nosey neighbours and don’t want any signs outside my house – is that ok?
Ans: Yes we work in the strictest confidence from initial consultation right through to the end. With us there is no need for any ‘For Sale’ signs at the property and the whole transaction can take place without anyone knowing.
Q: After I have been made an offer, what is the next step?
Ans: You should consider whether or not this is the best thing for you to do. There is no obligation to do anything on your part. If you are happy then we will proceed in a very efficient and friendly manner and work out a solution suitable to you. If you would prefer to hold off, that’s fine as well.
Q: I don’t want to have lots of people coming to do viewing’s – can this be avoided?
Ans: When you sell to Leonard Properties, you will deal with just 1-2 people at most. We will only need to view the property once so there is minimal disturbance. Compare this to having it on with an estate agent where you may have several viewing’s a week for months on end.
Q: My house is in a very run down state – would you still buy it?
Ans: We buy all types of properties in all states of repair and condition.