Need to sell my house QUICK, should i consider a home buyer company??

pikeypokey

My house has been up for sale for a few months now and we've had no viewings at all. I really need to sell, partly because our finances in are in a dire situation and also because i start a new job 250 miles away in a week!

We have already undercut other similiar houses in our area by 10-15K, so getting less than true market value isnt a problem as such.

When we sell we will move and rent elsewhere.

BUT does anyone know if these companies are reputable and can be trusted, im nervous about ringing if then they hound me!

Not sure what to do, can anyone offer advice please?

!!!!!

poppysarah

No not one of them is going to offer you more than 50% of the "market value".

What has the EA said about the lack of viewings?

They won't hound you. some will charge a valuation fee that you'll not be able to go for cos its too low and some will just offer you 30p.

Ask the EA what price bracket he has people ready to buy in

pikeypokey

They said that their sales are currently under £100000 for first time buyers and we are well over that, weve already reduced it alot.
30p thats ridiculous!!

chickmug

As an EA I regularly get people tell me they will have no chain as a company will be buying their house from them. The first time I heard it I thought great but from that point on I thought OH NO. Oh no because I have never dealt with anyone who has looked into it and gone ahead with it. One or two had their solicitor read the paperwork and that put them right off.

pikeypokey

Thanks chickmug, its so frustrating to be stuck here!!
I havent got a clue what the hell we can do to get this place sold and move on. We've had the year from hell and as a result we have fell behind on mortgage payments, im not sure how much longer the bank will wait.

teabelly

What would it rent for? What is it worth? How many bedrooms? If it is pitched at a price where the rent would cover an interest only mortgage at around 6-6.5% and 80% ltv then you have a chance of selling.

If it's on rightmove then stick the link up then everyone will put in their 2p about what is wrong with it

Hillfly

Could you talk to the bank about possibly renting out the place so that you could get on top of the payments? I remember many years ago when i was at Uni we rented a place from a guy who was given 2 years to rent his place out while he got his finances straightened out (he was a want to be opera singer!).

Remember banks don't want to repossess unless they really have no choice so talk to them as much as possible and explore all potential avenues with them.

pikeypokey

teabelly wrote: »

What would it rent for? What is it worth? How many bedrooms? If it is pitched at a price where the rent would cover an interest only mortgage at around 6-6.5% and 80% ltv then you have a chance of selling.

If it's on rightmove then stick the link up then everyone will put in their 2p about what is wrong with it

http://www.rightmove.co.uk/viewdetails-10764801.rsp?pa_n=8&tr_t=buy

We have finished of some minor work in the kitchen since these pictures where taken. We have no money to do anything else major apart from cosmetic painting and stuff.
Do your worst...........

clobber_2

It looks clean, tidy, decluttered and well presented. Not to everyone's taste but that's impossible anyway so don't worry too much about that. It might be worth adding a picture of a bedroom or two and tarting up the garden a bit to make it look prettier.

I don't know the area at all so can't comment on the price; but if you are desparate to consider the housebuying companies you might want to think about slashing the price first.
They will typically offer about 60% of what you think it's worth, and are notorious gazunderers after that - if you can afford to do that, can you afford to slash 15-20k off now?

pikeypokey

Hmmm i could knock money off but agent still thinks it may take a while as it too expensive for 1st time buyers.
I would go lower for a quick sale though......its just finding someone, i asked the agent about the decor and they said to leave it as its modern! Its currently up with 3 agents and nothing from any of them!

Well and truely fed up.

teabelly

Might be the proximity of the railway line that is putting people off. Handy for the station though.... Seemed a good price initially but there are loads of 3 bedroom properties for less than 100k within half a mile of aintree so unless a buyer is specifically looking for a detached you may be waiting a while. There is a 3 bed detached in barlows lane for 110k. Repo I assume. There's another what looks like a new build for 140k on ashbrook drive. Barlows lane has another at 145k, detached 3 bed. Don't think yours would work from a rentals point of view unless it was well less than 150k.

I'd talk to the bank again to see if you can go interest only or have some sort of payment holiday and sort yourselves out while you wait for a buyer. There are a lot of 3 bed houses to compete with so unless you slashed yours to 140k I don't think anyone is going to bother just at the moment. Have you been over to the debt free wannabee board to post your incomings and outgoings to see if they can help sort you out without having to sell your home?