There is an industry with a totally different and advanced tool set to make major economic and risk based decisions and analysis on your potential property. Banks, Insurers, The Government, Property Solicitors and Property Search/Legal indemnity solutions companies use the same data sources we pull from to make and share decisions about your property purchase that the home buyer is usually unaware of. Your solicitor will also rely on some of the same data sources when conducting their searches on your property purchase, therefore our data is also really useful by being able to highlight potential issues that might present themselves in the sales completion process, as well as potential problems with mortgage lending and insuring. Banks and insurers use this information to decide on their terms to you or if they will accept the risk at all, it is their business to get it correct, if they are successful they profit in the billions, if they get the risk wrong they can lose billions. Buyers Edge encourage the use of our upfront property information to allow home buyers to make the same decisions, upfront, that the industry is making about your property purchase, and encourage a different way of thinking around property acquisition, in addition to the usual due diligence home buyers usually conduct.
We liken our property data packages to the vehicle HPI check but for houses, you wouldn’t risk buying a car without an HPI check so why take the risk on a house – the largest investment the average person will make in their lives. We encourage use before offering or, for the Instant survey if not before then just after offering but before instructing solicitors, there is usually 24-48 hour gap in which to do this if you have just had an offer accepted. This upfront information can be the difference between going ahead or pulling out, negotiating a better price, securing a sound investment with good prospects of future saleability, or by saving hundreds and in many instances thousands of pounds on the sales completion process.
When it comes to making an offer we are stuck with the property portals basic tools of sale history and automated valuation models which can sometimes be all over the place, we base our offer on past sales and emotion. Our E-Valuation is for people looking for a new way of thinking and a new approach to being able to craft the perfect entry price. Imagine knowing that the seller you are negotiating with has no debt, no mortgage and likely savings in the bank, would this information change the way you might consider your entry price? Imagine if you could understand how sure the estate agent was in the price they have listed the property with? Whilst we always advocate the use of the usual due diligence such as previous sale history the E-Valuation is the perfect addition, it’s engineered to work only for the buyer, disrupt the agents plan of obtaining the highest amount possible for the seller and open you to a completely new and real way of thinking. Buyers Edge have been using these tools ourselves successfully for many years, we have proven the relationships, for example there is a direct relationship between lower then asking price offer acceptance and positive vendor financials.