Upstix, a well-established property buying firm, has launched an ‘instant cash offer’ portal on its website, enabling sellers to receive an instant cash offer range for their property and potentially completing the sale in just seven days.

The portal uses AI technology to analyse property and neighbourhood data, providing sellers with an instant valuation and cash offer range.

Sellers are required to enter their postcode and a few property details on the Upstix website to receive an immediate offer, followed later by a property inspection and survey, an eventually a final offer that allows sellers to complete the sale on their own timeline.

Recent research from Upstix found a significant number of vendors face major challenges when selling their homes, with 23% finding the process takes longer than expected, 18% needing to reduce the asking price, and 9% experiencing buyers pulling out at the last minute.

Fred Jones, COO, Upstix, commented: “Sellers traditionally opt to sell through a local estate agent which takes on average seven months to sell and where one in three sales falls through. It is not uncommon for some estate agents inflate asking prices to win listings, with the result of properties stuck on the market and not selling at those prices and offers coming in significantly below the asking price.

“Our new instant cash offers allows sellers to receive an instant and transparent offer on their property and complete a sale when they want, often in a few weeks. For anyone looking for the speed and convenience of a fast sale, Upstix offers a great solution.”