Written by Sarah Bromley
Sarah Bromley
Edited by Caroline Lamb
Caroline Lamb
Caroline has been working as a freelance copywriter since 2013. In that time, she has created articles, blog posts, landing pages, white papers and other types of content for a huge variety of clients.
Open Property Group is a UK-based cash-buying company, which means they give homeowners instant cash offers for their properties and can follow through relatively quickly.
This provides an alternative to selling on the open market and using an estate agent, which is always a longer process involving more hassle.
This makes a direct cash buyer an attractive option for those struggling to sell due to the property’s condition or a location in an undesirable area.
Open Property Group was established in 2006 and has been operating as a professional cash house and flat buyer since 2014.
The company operates throughout England and Wales its offices are based in Buckinghamshire (as confirmed by Companies House). The company’s directors are Jason Harris-Cohen, Nicola Maxine Cove and Stuart Vincent Cove.
You can also contact Open Property Group by phone on 0208 787 5860 or visit their website.
Open Property Group buys all properties, regardless of their condition. For instance, it has a team specially for helping with properties in need of redevelopment or renovation.
It purchases homes that are both vacant or owner-occupied. Open Property Group even buys occupied rental properties with sitting tenants, which are typically tricky to sell.
The company also sells a mixture of residential and commercial properties.
If you’re looking for a hassle-free sale or a fast process, property buyers like Open Property Group may appeal to you. Let’s take a closer look at what to expect from the sales process…
First, you will need to contact Open Property Group for an instant cash offer. You can obtain this straight from the company’s website by entering your address online and requesting a valuation.
This is also a chance to let Open Property Group know about any specific circumstances, such as sitting tenants in rental properties or if you are facing any mortgage arrears or at risk of repossession.
You can also contact the company by phone if you’d prefer to speak with somebody directly.
Open Property Group says you will receive this offer within 48 hours and have 14 days to decide whether to proceed.
This isn’t your official offer, as Open Property Group will need to carry out a professional valuation first – but it provides you with a rough idea of what to expect. The estimation will be based on a mixture of house market data, the property’s condition, legal aspects and other features of the house or flat.
Next, a representative from Open Property Group will contact you to arrange a visit and a property survey. This gives them the chance to carry out a more accurate valuation (to confirm or adjust their offer).
If you would prefer, there is also the option to send photos or a video that will help the surveyors.
Open Property Group works with various surveyors certified by RICS (Royal Institute of Chartered Surveyors) and national agents to help them reach their valuation.
Since you’re selling to a cash buyer, you won’t receive the full market value for your property.
Note that this is a no-obligation cash offer, so you’re not committed to continue with the process. You’ll have seven days to decide whether you want to accept the offer. At this point, OPG will reserve the right to decrease the cash offer.
Should you decide to accept the offer, you can start to sell your house.
Open Property Group will ask you when you’re aiming to sell your house. They will subsequently arrange to finish the process by then.
On their website, it states that it typically takes 28 days to complete the process.
However, Open Property Group claim they can work within even tighter time frames of seven days or less. This is because, unlike many buyers, they have immediate cash funds to purchase properties.
However, you can also follow a more traditional timeframe of 28 days or more if you would prefer. Here, it’s worth asking if they will increase their offer – as (you could argue) that it’s very possible to achieve more via an estate agency or auction sale.
Then, the only thing left is to carry out the administrative and transactional processes required to sell your house.
This is typically a challenging process when working with estate agents, but one of the benefits of working with a property buyer is that they handle everything on your behalf.
This includes:
When the sale is complete, Open Property Group will transfer the money directly to your bank account on the day.
Open Property Group is a professional company that offers a straightforward way for homeowners to sell their property quickly.
However, working with them isn’t the right choice for everyone.
To help you make that call, we’ll run through the pros and cons of this company.
Open Property Group claims that they’re striving to be the fastest property buyer in the market and that they can complete a house sale in seven days or less. The prospect of a smooth, fast property selling process is very attractive to many as it’s one of the major downfalls of the open market route.
The company is a Property Ombudsman (TPO) and the National Association of Property Buyers (NAPB) member. Both these regulatory bodies provide an official complaints process that customers can follow – so if something goes wrong and you need help you know there’s a formal process to access support.
Like Property Solvers, Open Property Group buy properties using their own funds. This sets them apart from some property buyers, who rely on third parties to give them funding.
They cover legal and valuation costs, meaning you don’t need to worry about hidden fees.
Finally, Open Property Group is committed to buying properties of all kinds, including those with tenants, problem properties and commercial properties.
If you sell property to Open Property Group, you won’t receive market value for your home. Instead, you can expect to make around 75% of the properties value.
This is the case for any property buying company since these firms make money by buying homes at a lower cost and then selling them for a profit (others . However, for many sellers, it’s worth it for the convenience and speed.
Another disadvantage is that you’ll have less control over sales compared to working with an estate agent.
Plus, Open Property Group’s reviews are mixed. Some said they didn’t receive good customer service or that OPG never responded to their enquiries.
When you sell to a direct cash house buyer, you know that you’re signing up to lose a chunk of money on the sales price compared to selling a property for its full market value. As a result, many sellers are keen to keep other fees to a minimum.
Since you’re working with a property buyer who will handle the entire selling process for you, there’s no need to worry about the usual estate agent fees.
Open Property Group also covers legal (conveyanding) fees as part of the process.
Plus, there are no hidden fees. The company also pays for your energy performance certificate (EPC), a key piece of documentation needed to sell a property. They will even organise and arrange it for you.
Now, let’s look at some independent review sites to see what previous customers think of Open Property Group.
On Trustpilot, Open Property Group has a 4.7 rating, which puts it in the “good” category. It also has 135 reviews, which is a reasonable sample to build up a general view of how the company fares.
The positive reviews generally reported that they found the Open Property Group to be a reputable company and said they had a fantastic experience due to top service.
However, this reaction wasn’t unanimous.
Some negative reviews noted that the customer service team weren’t as professional as they had hoped and said they failed to hear back after enquiring.
Others complained that the sale wasn’t as fast as advertised. Open Property Group claims they can complete a sale in 7 days or less, but some customers said that kickstarting the process took far longer.
On Google, Open Property Group has an average rating of 4.1, which is relatively low compared to its competitors. It also has far fewer reviews here than on Trustpilot, with just 32 reviews, which may make the reviews less reliable.
While selling to a company like Open Property Group certainly has some perks, those who would prefer to achieve full market value of their home may prefer a different selling method. This is especially true if you’re not in a rush to sell.
You may also want to consider selling at auction. This process is faster than the open market, but it also attracts a wider pool of buyers than a cash buyer. However, there’s no guarantee of a sale, which means there’s more risk involved.
You could also stick to national estate agents, who will guide you through the sales process and may increase your chances of earning market value for your home.
Property Solvers is a hybrid estate agency, providing both property buying, estate agency and property auction services. As a result, if you’re unsure which option is best for you, you can receive tailored advice.
If you want to compare Open Property Group to other property buying companies, we have compiled a range of cash buyer reviews.
Open Property Group provide a hassle-free way to sell your home. They will walk you through the whole process, cover most fees, and are a members of respected regulatory bodies like the Property Ombudsman and the National Association of Property Buyers.
However, they’re certainly not perfect. It’s always a good idea to shop around and explore alternative options to help you maximise your chances of a quick sale.
Please also fill out our own form and one of Property Solvers’ quick sale specialists will be in touch with you shortly.
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