companys that buy propertys straight up?

shelldanielle

We are in a load of debt and need to sell fast we had a quote of £50,000 to £60,000 for the propery and we are happy to sell for that.

what are your opinions on these companys? any recomendations?

shell x

VIGILANT22

I would be very careful of such companies..as they will offer you way below valuation....do some research and find out approx what your property is worth..before even considering this....Have you explored every other option?

shelldanielle

dont know what options we have, the house has been on the market 2 years and two sales have fallen through??

goldbyron

What is the market value of your property? If you go through The Advisory they should be able to send you details of a reputable company. This is the link to their site. http://www.theadvisory.co.uk/cash-buying-specialists.php

I can't vouch personally for them but they seem to be indepedant and recommended (by Time Out/The Times/ The Independant). Check it out anyway - but you will get no more than 75% for your property. Which is fine if you are desperate.

shelldanielle

Hi, The property is up for £79,950 Thanks I will look at that site.

shell x

Cannon_Fodder

Drop the price by 10%, see if that generates more interest.

Better than giving away 30%.

marcg

Sell at auction for 100% certainty. Set the reserve at £50k or whatever it is that you need PLUS THE AUCTIONEERS FEES.

The buyers have to hand over 10% on the day of the auction and the rest within 28 days. These other companies can offer you whatever they like then mess you about once they get into legal discussions.

shelldanielle

What percentage would the auctioneers fee's be?

shelldanielle

My partner has dropped the price it is now up for £69,950 to see if that helps.

That else can he do to get people intrested?

On sites like fish for homes etc I cannot see his flat there can we advertise his flat there or is it up to the estate agents??

GDB2222

shelldanielle wrote: »

My partner has dropped the price it is now up for £69,950 to see if that helps.

That else can he do to get people intrested?

On sites like fish for homes etc I cannot see his flat there can we advertise his flat there or is it up to the estate agents??

1. Who are the estate agents, and is it on their website?
2. Have you discussed with them why the property is not on the main sites, like Rightmove?
3. Are you bound to use these estate agents, ie do they have a sole agency agreement? If so, how soon can you end that?
4. Do you want to post a link to the property? Maybe people here can help you with ideas about marketing.
5. On the quick sale company, I'm a bit worried about the price range they quoted of £50-60k. In my view a range like that normally means £50k.
6. Finally, do you have a mortgage? The lenders normally won't let you sell for less than the mortgage.

Doozergirl

Would you post us a link to see what we think it could sensibly sell for and whether your EA is doing a decent job this far? Have you looked at sites like www.nethouseprices.co.uk to see what other houses in your street have sold for?

An auctioneer's fee would be about the same as a regular EA - maybe a little but more - around 2% of the selling price. The other way is go for something like "offers over £60,000" with your EA instead of expecting to be knocked down, people will bid up.

Everything will sell at a price, if you explained to your EA that you were desperate then they can find you the right price to sell.

Why sell to one of these companies when all they will do is pass it on to someone for a higher price? You can acheive a quick sale at the best price possible if you do something drastic with your asking price. People love competition and a very low asking price will see people bidding as if at auction but with the benefit of the fact that they won't only be seeking bargain basement prices, just something that is priced attractively. If a mortgage can be raised against your house then those people will be prepared to pay a bit more than a professional investor. There is no need to drop your expectations by £30k!