cash for your property

Deanomfc

Hey there,

my partner and I are separating and we have a house (bought for (91,000) to sell. Luckily, we have no debts other than the mortgage (£82,000) to clear. We had an estate agent around and he said we should sell easily as we have an immaculate home but whether we make much back in profit is unclear (he believes it could be 95-100,000) but wants us to market it at 112,000.

Ive been looking at these "cash for your property" "quick sell companies" that buy your property at a reduced rate bout 75-80% of market value. Has anyone ever used one of these and what are peoples opinion of these companies.

Im not desperate but for the sake of saving a lot of stress and waiting for a buyer Im seriously considering using one of these to save a lot of hassle and be able to move on.

cheers

Bermuda_John

most of them have ran out of cash or because the loophole of instant remortgaging has now been closed, which allowed them to get their deposits back on day 1, they are usually intereseted in setting up "option deals".

Which in your case wouldntsuit you as you probably want the cash and a fresh start.

Knock down the price and someone will buy it ..... 90% of asking price rahter than 75% from a house buying company.

PS. out of interest in what area of the UK is your house?

bandofbrothers

Hi,

I too looked at some of these companies when I first placed my property on the market.

These mainly cater for home owners who are close to being re possessed for the many usual reasons who stand to lose their property.

They offer a token amount for the property !

By all means get a quote from them to satisfy your curiosity but I doubt you will want to proceed.

Fire_Fox

Deanomfc wrote: »

Hey there,

my partner and I are separating and we have a house (bought for (91,000) to sell. Luckily, we have no debts other than the mortgage (£82,000) to clear. We had an estate agent around and he said we should sell easily as we have an immaculate home but whether we make much back in profit is unclear (he believes it could be 95-100,000) but wants us to market it at 112,000.

Ive been looking at these "cash for your property" "quick sell companies" that buy your property at a reduced rate bout 75-80% of market value. Has anyone ever used one of these and what are peoples opinion of these companies.

Unless I am missing something 75-80% of the market value (selling price not asking price) is £71K to £80K how do you propose to clear your mortgage of £82K AND pay the legal fees and removals AND still have something left as a rental deposit? :huh: