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Quick Sale of 2nd property - advice needed URGENT please

MrsASmith
MrsASmith Posts: 167 Forumite
in House buying, renting & selling
Hi all, Husband and I own a 2nd property - we have been renting it out since we bought it a few years ago. It has caused us lots of hassle and we now need to sale (tenants have left) urgently for the money and our sanity.

Husband has been looking into these quick buy companies who offer a lower value than market price - we are happy with a few quotes we have received but I just wanted to get some recommendations, advice, warnings etc before we plough head 1st into going ahead with one of these companies.

Feel free to ask further questions regarding our situation - Ive just done this as a quick post as I'm in a hurry.

Thanks all.

MrsASmith

Comments

  • RabbitMad
    RabbitMad Posts: 2,069 Forumite
    edited 22 June 2010 at 2:48PM
    don't give them any money up front.

    I think you'd be better off going with an traditional EA and advising them to market for a quick sale.
  • astronut
    astronut Posts: 12 Forumite
    If you are willing to accept lower than market price, what about auctions?
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    You can probably get a quick sale via an agent just by splitting the difference between the EA valuation and the quick buy valuation. Don't pay money up front to a quick buy company.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • lincroft1710
    lincroft1710 Posts: 19,694 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    astronut wrote: »
    If you are willing to accept lower than market price, what about auctions?

    Advantage of auction is that, provided the property generates enough interest, it will sell on a prescribed date. So no hanging around, hopefully.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • MrsASmith
    MrsASmith Posts: 167 Forumite
    Thanks to all so far for the replies.

    We have thought of goin through an EA - however there are a few things that stand in our way
    1. The property is not very desirable (2 bed flat in council block - flats dont seem to sell to well let alone when there in council owned block)
    2. The lengthy process of contracts etc if some1 does buy through the EA

    I havent thought about auction though - arent there alot of sticky areas with property auctions?
  • MrsASmith
    MrsASmith Posts: 167 Forumite
    Has any1 got any experience of using 1 of these companies? Would really like some more info before we go ahead. Hubby is hassling me to get going with contacting one of them to arrange a sale. Thanks in advance
  • Trollfever
    Trollfever Posts: 2,051 Forumite
    I am a fan of auctions, particularly for properties with "issues".
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