OFT to investigate three 'quick house sale' firms

Quick sale firms offer consumers a faster sale than might be achieved on the open market, with the seller usually agreeing to receive a below market value price for their home in return. Sellers typically forgo between 10% and 25% of the market value of the property. Some sales are completed in as little as seven days. An OFT report found that quick house sale firms can be beneficial to consumers who need a "fast, hassle-free sale". However, the regulator also found that some firms were preventing customers from making informed choices when selling their home, and exploiting the...