selling house below market value

jenkie_2

Hello, i posted a while ago about the possiblility of selling my house and renting back, we have now seen a house that we want to rent and want a quick sale of our house.

I realise that this will have to be at BMV and was wondering it anyone knew of a good company that i could contact or if you have any experience of it i would be grateful


Thanks

real1314

I have to say that in the realm of a quick sale you will be lucky to find a reputable company to do it.

One option might be to speak to a decent (?) local estate agent and offer a fee for an introduction to the buyers they know of?
Or just bang a line ad in your local paper?
"Property For Sale: 2/3/4 Bed; Terr.Semi/Det; Area; Standard; Price; Or offers." ??

Might be worth porting the area of the property you're selling? and the spec as ablove?

RHemmings

I've heard a lot about these BMV companies. Not any of it good. Isn't it the case that if you want a quick sale on your house that you just advertise it at a cheap price and buyers will line up at your door. When the market was "hot" we kept hearing of people who sold within days. If you advertise at 10% less than others are selling for, that might be enough. Or 20%. The BMV companies offer different amounts. From what I've heard. But I've heard figures like 25-30% below current market value. I find it difficult to believe that people couldn't sell houses within days at the kind of price mark-downs that BMV companies offer. Has anyone got experience at marking down houses for a quick sale?

seven-day-weekend

When we wanted to sell our investment flat, I asked the estate agent how much those flats usually sold for. I was told just over £90k. I asked if we put it on for under £90k would we get a quick sale and was told that they could sell it tomorrow. They actually sold it the same day it went on sale when we accepted an offer of £87950 from a couple who were ready to proceed with no chain and the sale went through without a hitch eight weeks later.

So, IMHO, all you need to do is offer it at a slightly lower price than similar properties and you will have a buyer in no time.

silvercar

if you want to check out some BMV operatives, look on singingpig.co.uk for the BMV board.