Has anyone any experience of 'home buying schemes'?

esom

I wondered if anyone had any knowledge, recommendations, warnings or otherwise around companies who offer to buy you home (for a reduced rate).

My self employed husband has taken quite a hit recently and we just can't afford the mortgage and loan secured on it any longer.

We are putting it on the market but I'm not holding out much luck as there are hundreds of new properties in the area with various attractive offers which make our home look a bit like too much effort!!!

Advice please!

googler

There's quite a few recent threads on this topic, and in essence;

Regulation has been introduced for these firms, essentially because of bad practice in the past.

Very few people here seem to have anything good to say about them.

Have a browse for the other threads, and look for yourself.

googler

Some of these companies make a big deal about 'buying your house without any estate agency fees', but suggest that they'll offer you 'up to' 70% of the market value.

Not that they might offer nowhere near 70%. Maybe 66 or 64%

Note also that if you were to put your house on the market with an agent who charges a high fee; say 2% of the sale price, that gives you a LOT of leeway to still achieve more than 72% of your current market value......and end up better off than accepting the offer from the buy it quick company.....

If you want to sell against the others in your area you need to undercut the closest equivalent houses to yours. Can you do this and still get over the 70% that these companies would offer you?