Buying home from a company

Dorsetknob_2

I wonder if anyone reading this has any experience of buying a house from a company that has bought the house from the previous owner for cash with a view of making a profit?

I am thinking of making an offer and am really wondering whether these companies have hard and fast rules for what they accept, or whether it's just as difficult as it normally is to pitch at the right level!

Does anyone have any other hints/tips/advice about buying from this sort of company?

Thanks in advance for any help offered

Cara79

Hi there :hello:

Well I haven't bought a property from a company, but when I was searching for my house, I did view a property which a company had bought.

This was back in 2003. I have since found out by looking on rightmove selling prices etc, that they sold for about £40k-£50k less than the asking price! I'm still thankful that I didn't buy that property because it wasn't right for me.

What I suggest you do is look on rightmove selling prices or a similar website to see if you can find out what the previous occupier sold it to the 'company' for (depending on when this was - as it normally takes a month or two to be on the website).

I would suggest that a company basically wants a quick sale and to make a small profit or at the very worst break-even.

HOwever, how long has the property been on the market? This will help loads because the longer they have it on their 'books' the quicker they want shot of it at any price!

Finally, I also think it's probably easier to haggle with a company. Stand your ground, at the end of the day, they don't want to be lumbered with the property.

Good luck
Cx

clutton_2

you will have no idea what sort of condition it was in when they bought it - so the price they paid may not be helpful. To buy and sell a house on straightaway, with no refurb costs at all, generally costs 10% of the original asking price in buy/sell fees, so, i would not expect anyone to sell if for less than this.