House sale fallen through, anyone recommend a house buying Company?

ferdiejones

After six months on the market, we accepted an offer (albeit very low!)last week form FTBs.
We were thrilled, we got out and started looking as they were in a hurry. Found our dream home and offered on it, got the offer accepoted and we were in seventh heaven! We started the searches, instructed solicitors and started to sort out the mortgage. Anyway, our buyers have since come back to us via the EA and it seems they have been very busy in the last week too....looking at other houses! They said they would only procedd with ours ata lowere price (again!) so we took the decision to say no to them (we just don trust them now, they have done a few sneaky things and we just feel that if we give into them again they would only do it again further along when we had no option but to continue) anyway, looks like we may loose the house we want now.
So my question to you guys is, has anyone any recommendations of companies that buy houses up to sell on. we have dropped the price right down now and just want rid of it. Failing that how else can I get rid of a lovely little semi which is all done up?! ANY advice will be very glady accepted please.
Thanks x

silvercar

Any quick house buying company is only going to give you less than 75% true market value. You would be far better reducing the price again and selling through a good estate agent. (or continuing with your current buyers).

ferdiejones

HI,
Thanks for replying. We have now dropped the price right down but now worried that people will think we are desperate or that there is something the matter with the property!
We wont continue with the current buyers, had they dropepd the price due to not being able to get mortgage etc then maybe, but they have been out looking at other properties and now just feel that they should have knocked more of this. In actual fact we accepted the first offer cos we though in this market, just need to get moving. They clearly think they should have offered less! They also tried to get us to cut out the EA and split the diff with them so they clearly are not too bothered about the whole ethics of house selling!
Have looked at house moving companies and yes, they will not offer us much at all by the looks of it!
Just sick of it now and want it sorted!

silvercar

House near me was on the market for 419k, then 410k, then 399k. They sold it to a buy-me-quick operator for 304k. Mr buy-me-quick just carried on marketing it at 369k, then 349k; he sold it 5 months after purchase for 336k.

So original sellers lost 32k.

Mr buy-me-quick had his money tied up for 5 months (at say 4%) that is 12.1k, stamp duty of 9.1k, EA fees of 5k, legals buying and selling of say 2k. Total costs 28.2k. Profit 3.8k. Not worth the risk IMHO.

Snakeeyes21

avoid any house buying company, they know they are in a strong position as people who use them are usually desperate to sell.
they wont offer you any more than 75% (if your lucky)

poppysarah

Asking price, their offer price, their next offer price and the figure you expect to get from some scammy company?

50plusabit

I can not give you a good company, but can tell you one to stay away from Capital Funding - Mr Fisher, he is a con man, dont take my word for it check him out on the web.

chickmug

As a retired agent I regularly used to 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, some years ago, I thought great but very quickly learned the reality of these types of companies and from that point on I thought OH NO here we go again.

Oh no because I have NEVER had anyone who has gone ahead with it. Many had their solicitor read the paperwork and the result of that is they were put right off the idea.

silvercar

Have a look on singingpig.co.uk for people who claim to do this for a living. You can also read about the problems they have securing funding at the moment, so chances are they will be very cautious.

ferdiejones

Thanks for that everyone. I think I have calmed down now after speaking with our agent.
I was just panicing but he has reassured me that there is no need to go down this route and that the house will sell again and that we are not that desperate!! Just that we would LIKE to buy the house we have seen, not like we are in financial difficulty etc. Also reminded me that the house we want is in the same market as us so not likely to be going anywhere in the near future either!
Thanks all for taking the time to reply to me x