The Property Buying Company (TPBC): Comprehensive Review 2023
The Property Buying Company (TPBC) is a UK-based house buyer that claims they will buy any house, no matter its condition, in just seven short days.
They assure a free, no-strings-attached cash proposal, top-notch customer service, and the best prices.
But how much of this is accurate?
By exploring their operations and listening to what their customers have to say about their experiences, we can gain a better understanding of whether or not The Property Buying Company's services are truly the right fit for you.
Let's dive in and see what they're all about.
What you'll find in this article
In this article, we've put together the most comprehensive online review of The Property Buying Company. Below is a listing of all the information you'll find in our review, so you can easily navigate the page quickly and pick which section you want to read.
The Property Buying Company - Main Details
With the company’s headquarters in Wetherby, The Property Buying Company is in the perfect location to service all of England and Wales, including regions such as Birmingham, Bristol, Leeds, Liverpool, and Manchester.
According to their website, The Property Buying Company has more than 50 years of combined real estate experience. Their LinkedIn page states that they employ between 11 and 50 individuals.
They’re registered with The Property Ombudsman, and are a member of the National Association of Property Buyers and the FSB, and are partnered with the Martin House Children’s Hospice, making them a well-known and reputable member of the property buying industry in the United Kingdom.
The business claims it buys houses at the best prices, stating that it typically completes transactions within two to three weeks. This is in comparison to the two to ten weeks offered by other house buying companies, and all at no cost to its customers.
The Property Buying Company Factsheet
*Data updated and correct as of 02/15/2023
- Number of employees?
- What is their aim to buy time-frame?
- How many sales have they agreed?
- Number TrustPilot reviews?
- Number of Google reviews?
- When were they incorporated?
- What are their Opening times?
- Which Locations do they buy in?
- Is a house inspection needed?
- What is their website?
The Property Buying Company
- Between 11 to 50 employees,
- 7 days, but typically between 2-3 weeks
- 1,594 Trustpilot reviews
- 148 Google reviews
- Founded in 2012.
- 24 hours a day
- England and Wales
- It is not required
What services does the Property Buying Company offer?
As their primary service, The Property Buying Company is a cash home buyer, which means that they’re willing to buy virtually any house, in any condition, for cash.
While the company does not operate as a traditional estate agent, they are not a broker or middleman, which means that customers deal directly with the company when selling their homes.
The Property Buying company can also recommend vetted solicitors to help with the sale of your home, and they’ll even pay to have a RICs surveyor properly assess the value of your property.
Is the Property Buying Company legit?
Yes, The Property Buying Company appears to be 100% legit.
With a wealth of positive feedback on respected review sites such as Trustpilot and Google, as well as membership in the National Association of Property Buyers (NAPB) and registration with The Property Ombudsman, The Property Buying Company has earned its reputation as a trustworthy and reliable choice for property sellers.
How The Property Buying Company Works
The overall process for working with The Property Buying Company is as follows:
- Fill out the company’s online request form
- Receive a free, no-obligation cash offer within 24 hours.
- Have a manager visit your property to finalize the offer.
- Have an independent solicitor act on your behalf—The Property Buying Company pays the solicitor fees and for a RICs surveyor to assess the property.
- Finalize all legal documentation and complete the process.
As a homeowner, the first step is to fill out the online request form, which can be found on the company’s website.
We should note that the quote request form is easy to find on the website. Filling out the request form is extremely easy, requiring you to enter your property’s postcode, address, type of property, and a few other simple details.
The Property Buying Company will then assess eligibility and send a provisional offer within 24 hours if the homeowner qualifies. The provisional offer is based on modern property valuation tools, knowledge of the local property market and homeowner information.
If the provisional offer is accepted, TPBC will arrange for at least one independent valuation to be carried out by a local estate agent or RICS chartered surveyor before it makes any finalized cash offer.
During their visit, they will inspect the property and house structure, assessing if there is any existing damage or areas of concern.
Once a price has been agreed upon, the company will provide a solicitor to handle the case and cover any associated fees.
However, it's good to remember that customers are only charged solicitor fees if they opt to use a solicitor that isn't recommended by the company. Otherwise, The Property Buying Company will cover 100% of the fees associated with selling the property.
After all the necessary steps have been taken, The Property Buying Company will perform a final review of the property and its offer. If the customer accepts, they have the option to immediately exchange contracts and finalize the sale or wait and do so at a later date convenient to them.
Payments for the sale are processed through a solicitor, which ensures that both the buyer and seller’s funds are kept safe throughout the transactions. Once the solicitor receives all appropriate documents and funds from the buyer (TPBC), the funds will then be deposited directly into the seller's bank account via wire transfer.
Once a house buying company purchases a home, they will:
- List it for sale on the open market
- Sell the house to property investors
- Transform the house into a rental property
TPBC earns revenue by paying slightly less than the home's market value and then selling them for more on the open market. Generally, TPBC will pay up to 80% of a home’s market value as long as the home is in good condition.
Can you haggle with TPBC?
Once the company has assessed a property, their offer will likely be firm. However, in some cases, negotiating a better price may be possible.
This is based on a case-to-case basis. So, negotiating a better price is less likely if there is any significant damage or issues with a property. However, if the house is in tip-top condition, haggling is possible.
Note that if a buyer isn’t happy with an offer, there is no obligation to proceed, and negotiating for a better price is often possible, and there are other options than a direct sale.
Check out what this customer had to say about working with TPBC.
Been dealing with Charlotte who has been very helpful and honest; she suggested their valuers pop out and take a look at our home, Patrick came what a nice gentleman honest and precise the offer was not really what we anticipated little low, but Patrick is going to try and look at Investor's for our property to get a higher price.
On top of all that, The Property Buying Company also provides a “Change Team,” who can help with arranging removals, finding customers an adequate rental property, negotiate future purchases, act as a mediator for divorce and separation sceneries, or arranging probate in the event of a property owner’s death.
The Pros And Cons Of Working With The Property Buying Company
Below, we outline the advantages and disadvantages of working with The Property Buying Company.
- Buys properties for cash in as little as seven days
- 4.7 rating on 1,594 Trustpilot reviews
- 4.3 rating on 148 Google reviews
- 50+ years of combined team experience
- Offers a free, no-obligation cash offer
- Pays solicitor fees—if customers choose to work with one of its recommended solicitors
- Change Team to help customers move forward after selling their home
- To date, the company has bought more than 900 properties in the UK for more than £124,000,000
- Most cash offers are for less than market value—typically around 80% of market value.
- Some negative reviews on Trustpilot and Google suggest that not all customers are happy with their experience.
- Misleading sales time frame—the company claims to buy properties in less than 7 days, but they also explain on their website that the average time between offer and completion is between two and three weeks.
The Property Buying Company Vs. Other UK House Buying Companies
Below, we’ve highlighted some of their ratings, reviews, and customer testimonials compared to other UK house buyers, such as Good Move.
Quick Sale Firms
- Takes 2-4 weeks to find a buyer
- Some firms charge hidden fees
- Won't always buy any type of home
- Can take months if not true cash buyers
- Some firms do not offer complete confidentiality
- Not all quick sale firms offer a cash advance service
The Property Buying Company
- Cash offer within 24 hours
- TPBC covers all fees, unless a seller opts to use their own solicitor
- TPBC will buy any type of house
- Can be completed in as little as 7 days
- Full confidentiality & privacy
- May release 10% of the purchase price in advance
The Property Buying Company Customer Reviews And Testimonials
|Trustpilot Reviews||Google Reviews||Reviews.io|
|1601 reviews||148 reviews||539 reviews|
|4.7 score||4.3 score||4.7 score|
|95 reviews are 3 stars or below||27 reviews are 3 stars or below||20 reviews are 3 stars or below|
*Reviews are updated and correct as of 02/15/2023
Overall, The Property Buying Company has a good rating on review sites like Trustpilot and Google. Most customers have had good things to say about their experience and the staff at TPBC.
But is dealing with the company for a quick home sale really as simple and easy as it seems?
And is there really no obligation to follow through with a sale after receiving a cash offer?
Really friendly service and no hard push to use there service. Gave me a quote and said get back to us if I am interested in there service.
From our review of the company, it also seems like their staff and managers are very friendly, honest, and knowledgeable about buying properties.
Grant Bishop, my advisor, gave very constructive and honest advice/guidance regarding my property. Thank you!
While most of the reviews of TPBC are positive, there are some customers who have had bad experiences dealing with the company.
For example, the following customer was disappointed with the price the company offered.
Have been waiting for weeks to sell, which I had to accept 20% less. Now they have said they are not buying anything, unless I accept £50K less, which makes the property £10K more than it was bought for 19 years ago.
Would the Property Buying Company's customers recommend them to friends and family?
As a general consensus, yes, most customers would recommend TPBC.
Friendly, knowledgeable, extremely helpful - over and above - and very polite. Fully recommend.
Does the Property Buying Company have any awards, or have they been featured on prominent websites?
As far as we can see, The Property Buying Company has not received any awards other than the reviews they’ve received from customers. According to their website, they are featured on:
- The Metro
- Channel 4
- As seen on TV
TPBC is also active on social media sites like Twitter and Instagram.
The Property Buying Company - Our Final Verdict
At first glance, it appears to be a legitimate home buying company, with registrations with The Property Ombudsman and the National Association of Property Buyers to back it up. Their website is well-designed, providing comprehensive information about their services and making it easy for sellers to receive a free quote in as little as 24 hours.
The majority of customer feedback for The Property Buying Company is positive, with customers reporting that the company typically provides a fast sale with an offer of approximately 80% of the property's market value.
The Property Buying Company Factsheet - (Free Download)
You can now access all the key information about the Property Buying Company in the Factsheet infographic we have created below.
Simply click on the image or the link that appears after the factsheet, and it will automatically download it to your device!