The cash buying industry has grown significantly over the last decade, and with it, so has the variation in standards. For every reputable company operating with full transparency, there are others whose business model relies on sellers being uninformed, time-pressured, or simply trusting the wrong people. This guide is designed to change that. Whether you’re considering selling to Bettermove or to anyone else, here’s what a well-informed seller looks like.
Understand how the industry actually works
Cash buying companies broadly fall into three types: companies that genuinely buy with their own funds (true cash buyers), companies that find a buyer from their investor network and take a margin, and brokers who pass your details to a panel of buyers and take a referral fee. There’s nothing inherently wrong with any of these models, but you deserve to know which one you’re dealing with. A good company will tell you upfront. Ask directly: ‘Will you be buying my property with your own funds, or sourcing a buyer from a third party?’ If the answer is evasive, that tells you something.
What to look out for, the basics
Before you engage with any cash buying company, check these fundamentals:
- Membership of The Property Ombudsman (TPO) or NAPB, this means they’re bound by a code of practice and you have a route to independent complaints resolution
- A physical address and named directors, search Companies House; a legitimate business has nothing to hide
- Genuine reviews on Trustpilot, Google or Feefo, look at the 1-star reviews as carefully as the 5-star ones
- Clearly explained fees, there should be none charged to you as the seller; be wary of any ‘admin’ or ‘valuation’ charges
- A written offer, any verbal or estimated offer has no legal standing
- No obligation to proceed, you should be free to walk away at any point before exchange
The questions that reveal the most
These are the questions to ask before you agree to anything. A reputable company will answer every one of them without hesitation.
Questions to ask a cash buying company
- ‘Are you buying with your own funds, or finding a buyer from a third party?’ Understand exactly who is on the other side of the transaction
- ‘Are you a member of The Property Ombudsman or the NAPB?’ If not, ask why not
- ‘Will you share the full findings of your survey or valuation report with me?’ Transparency here is non-negotiable; the report affects their offer and you should see it
- ‘What happens if the offer is reduced after the survey?’ Ask them to explain their process in writing before you proceed
- ‘What are your fees to me as the seller?’ The answer should be zero
- ‘Will you cover my legal costs?’ Many reputable buyers do; it’s worth asking
- ‘What is your typical time from offer to completion?’ Get this in writing
- ‘Can I speak to a previous seller?’ Some companies facilitate this; it’s a reasonable request
- ‘At what point is the sale legally binding?’ The correct answer is exchange of contracts, not before
💡 A good test: ask the question, ‘What happens if I change my mind after accepting your offer but before exchange?’ A reputable company will confirm you can walk away with no penalty. Any suggestion of a cancellation fee or ‘lock-in’ before exchange is a serious red flag.
Warning signals to take seriously
These are the patterns that consistently appear in complaints to the Property Ombudsman and in negative reviews. Treat any of them as a reason to pause and seek independent advice.
Red flags, walk away if you see these
- A very high initial offer that is then reduced significantly after the survey, this tactic, known as ‘gazundering’ or ‘late-stage chipping’, is common and deliberate in disreputable companies
- Pressure to sign anything quickly, especially before you’ve had independent legal advice
- Refusal to share the survey or valuation report, you should always see the evidence behind any reduction
- A request for an upfront fee for valuations, surveys or ‘reservation’, legitimate cash buyers do not charge sellers
- No TPO or NAPB membership, and no clear answer as to why
- Vague or verbal-only offers, if it’s not in writing, it doesn’t exist
- Contracts that include ‘option agreements’ or exclusivity clauses, these can lock you in before exchange
- High-pressure tactics around timelines: ‘This offer expires tonight’, ‘We have another property and can’t wait’
- No physical UK office address or named individual to deal with
- A website with no company registration number and no named team
Late-stage price reductions: the most common complaint
This deserves its own section because it’s by far the most common issue sellers face. Here’s how it works: a company makes an attractive offer, the seller stops engaging with other buyers, weeks pass through the legal process, and then, often days before an agreed completion date, the offer is revised down, citing ‘survey findings’ or ‘market conditions’. At that point the seller is psychologically committed, under time pressure, and may have already exchanged on a purchase. They accept the lower figure. This is why two things matter: always get the survey report shared with you in full, and always keep your options open until exchange.
“We share the full survey report with every seller as standard. If something affects our offer, you see exactly why, not a vague summary. Sellers deserve to make decisions with complete information.”
Rory, Operations Manager, Bettermove
What a good experience looks like
A reputable cash buying company should feel straightforward from the very first call. They’ll give you a realistic offer range based on comparable sales, explain clearly how their process works, arrange a survey at a time convenient to you, share the full report without being asked, and confirm their offer in writing. You should never feel rushed, confused, or that you’re being managed rather than informed. The best companies in this space know that a seller who understands exactly what they’re getting into is more likely to complete, and more likely to recommend them afterwards.
A quick checklist before you proceed with any cash buyer
- Confirmed TPO or NAPB membership
- Written offer received
- Survey report shared in full
- Zero fees confirmed in writing
- Legal costs covered (or clearly explained)
- No lock-in before exchange
- You’re happy, not pressured, to proceed
Ready to take the next step?
Speak to the Bettermove team for free, personalised advice. No obligation, no pressure.