anyone heard of investment property group they say they have a buyer for my house

TheycallhimEl

Just a quick recap of our experience, see if it sounds familiar:

Call out of the blue to ask if the property they'd seen advertised on rightmove/primelocation whichever was still available.

Few short questions so they could use their in house valuation method to arrive at a price for thei investing buyer.

Came back with a value about 15k high than that advertised publicly elsewhere because of 'X Y Z'

Viewing arranged a Mr Paul Brown, coming down from London to view several houses in the area with a view to expanding/diversifying his portfolio.

Pleasant guy came to the house, said the reason he was using this company was that they handled all the paperwork for him and he was happy to pay for the service.

Offer duly made of less than initial valuation, but still higher than publicly advertised.

Circa £1200 fee required up front to tie both parties in.

After reading the thread below and takign up some of the search points, found the following:

As mentioned below, and as proven by a streetview image of Kemp House City Road, London, Capital Office handle all mail and calls to the building.

Ultimate parent, The Letting Agent Co Id 05709215 is actually registered in Green Close Lane, Loughbourough and apart from a constant turnover of directors and company secrataries, the only activity on the returns to companies house since incorporation are a DISS40 (DISS40(SOAD)) Striking Off order, made by Companies House for the company trading without liabilities.

For a more in depth view, google 05709215 and click the top link, should be 'bizzy.info'

Each company return since incorporation has been as a dormant company.

and Jordan's company watch currently class it as a dormant account:

(same google search, 3rd link - 'jordansearch'

Also stated below, the website we were directed to was only registered in April, roughly 2 weeks before we received our first contact.

The problem is that this is almost plausible enough to be legit.

They'e not asking huge sums of money and it's quite reasonable for an agency to charge an investor a fee for managing their property.

They're offering pretty much what the vendor wants and making the usually stressful process of selling a house seem very easy.

In the process of writing this post, i've just come off the phone haing told them we're not interested due to the fee strucutre and they're offering to negotiate further on monday morning with the director's approval, so i'll report back with my eperience.

Watch this space for further developments!

TheycallhimEl

and next time i'll try and watch my slepping!

TheycallhimEl

......bu99er

Vincenzo

Why not call their bluff and tell them you will happily put your solcitor in funds who will issue their solicitor with an undertaking that if you pull out of the sale they will receive the fee. If they are legit, how could they possibly refuse?

bettyboooop

TheycallhimEl wrote: »

Just a quick recap of our experience, see if it sounds familiar:

Call out of the blue to ask if the property they'd seen advertised on rightmove/primelocation whichever was still available.

Few short questions so they could use their in house valuation method to arrive at a price for thei investing buyer.

Came back with a value about 15k high than that advertised publicly elsewhere because of 'X Y Z'

Viewing arranged a Mr Paul Brown, coming down from London to view several houses in the area with a view to expanding/diversifying his portfolio.



Pleasant guy came to the house, said the reason he was using this company was that they handled all the paperwork for him and he was happy to pay for the service.

Offer duly made of less than initial valuation, but still higher than publicly advertised.

Circa £1200 fee required up front to tie both parties in.

After reading the thread below and takign up some of the search points, found the following:

As mentioned below, and as proven by a streetview image of Kemp House City Road, London, Capital Office handle all mail and calls to the building.

Ultimate parent, The Letting Agent Co Id 05709215 is actually registered in Green Close Lane, Loughbourough and apart from a constant turnover of directors and company secrataries, the only activity on the returns to companies house since incorporation are a DISS40 (DISS40(SOAD)) Striking Off order, made by Companies House for the company trading without liabilities.

For a more in depth view, google 05709215 and click the top link, should be 'bizzy.info'

Each company return since incorporation has been as a dormant company.

and Jordan's company watch currently class it as a dormant account:

(same google search, 3rd link - 'jordansearch'

Also stated below, the website we were directed to was only registered in April, roughly 2 weeks before we received our first contact.

The problem is that this is almost plausible enough to be legit.

They'e not asking huge sums of money and it's quite reasonable for an agency to charge an investor a fee for managing their property.

They're offering pretty much what the vendor wants and making the usually stressful process of selling a house seem very easy.

In the process of writing this post, i've just come off the phone haing told them we're not interested due to the fee strucutre and they're offering to negotiate further on monday morning with the director's approval, so i'll report back with my eperience.

Watch this space for further developments!

keep us informed

not_loaded

The reason they’re not asking huge sums of money is because that’s how people like this get you hooked.

The later stage of ‘super, we now have a buyer at £LOADSk for you if you sign up’ is the stage at which you’ll be asked to commit to a four figure sum.

I seriously think all of you STILL discussing this as ‘possibly legit’ should at the very least skim through the SYH4FREE thread here.

All of what you’re saying here has been done to death on there. Wake up!

MobileSaver

TheycallhimEl wrote: »

They'e not asking huge sums of money and it's quite reasonable for an agency to charge an investor a fee for managing their property.

And that's the crux of all this.

In my opinion there are two types of these acquisition companies:

Legit = Buyer (investor) pays fee upon successful transaction.

Scam = Seller asked for upfront fee.

bettyboooop

Vincenzo wrote: »

Why not call their bluff and tell them you will happily put your solcitor in funds who will issue their solicitor with an undertaking that if you pull out of the sale they will receive the fee. If they are legit, how could they possibly refuse?

already have today and they say they are happy to wait till sale gone through

lossofbargain

yawn, scam.

ILW

They usually take your money, then a few months later tell you the buyer has pulled out, then they may find some small clause in the contract you have signed that implies that you have done something wrong and keep your money on that basis.
Any legit operation will take their fee out of the monies raised at completion of the sale.
Ask yourself "why do they want any money up front"?
Tell them they can have their fee at the point that you receive the monies at completion and see what they say.