Quick sale companies

andyi

Hello, newbie here....long time money saver but first time poster seeking advice

Just wondering if anyone has had experience of any of these kinds of quick house sale companies... just to give a bit of back ground I was made redundant in May this year but quickly (and luckily) found myself back in work but i now face a daily 150 mile round trip for work

Anyway since starting my new job (which i like) its been my aim to move somewhere closer and as a result my house has been up for sale for the past 3 months, but, with only one viewing and no other interest I'm exploring other opportunities to sell my house, move closer to work and cut out the time and cost associated with travel

Can anyone help with any info/experiences good or bad?

thanks in advance

Doozergirl

If your house is priced correctly it will sell.

A quick sale company will offer you circa 20% or more below it's genuine value. You are far better asking estate agents for the price at which they feel it will definitely sell quickly and remarketing at that price. Or calculate a 20% drop from your current asking price and then change your asking price to offers over that amount and organise an open day. You will have people crawling all over it and if the interest is generated you should find that the house will find it's true value anyway when enough people are interested.

If you think we might be able to help pinpoint the right sort of price or what you can do to help sell it then you'll have to post us a 'broken' link, postcode or the property number on rightmove number and we'll do all the local market research we can come up with.

joanna_johnson

Be very careful of these companies. Often they will offer you 20% below market value but that is their valuation not that of an estate agent so it will always be lower! Once you accept an offer if it goes through at the price offered then that's ok but they may reduce prior to exchange and you will end up (if you proceed with them) at around 30-40% bmv. The advice from 'Doozergirl' is the best way forward. The other thing they tend to do is offer a 7 day completion......in reality the completion time can be 4-6 weeks (not really any quicker than a normal sale!).

googler

Are there many other houses for sale in your street or area?

If so, you need to ensure that yours is better presented and better priced than all the others, and especially in comparison to those of similar size and price to yours.

If you haven't cleaned and decluttered to within an inch of your life, now is the time to do so. Look at sold prices in Zoopla or OurProperty to see if your pricing is right.

Maximise the visual appeal of your house, make it better than the others for sale, and price it keener than the others to ensure that you get the buyers rather than your neighbours.

The advice from the previous two posters is spot on. I have no experience of these companies, but the themes quoted above come up every time. Search the forum for the other threads, there's almost one per week.

andyi

Thanks for the responses guy

I'm very dubious of the quick sale market and was just wondering if there were any positive experiences .. I'm guessing not

I did try searching previous to posting but couldnt drill down on the topic, as you can imagine the words quick sale in these forums brought back a lot of results

My house is listed on rightmove currently and my post code is ts26 9aw and a search for this area only should return my house which is currently on the market for 85k, houses around and about are priced similar and when priced by various estate agents prior to putting it on the market this price was already at the lower end of the valuations we received

I appreciate any feedback and help and open day sounds like it could be the way forward

Thanks

Doozergirl

http://www.rightmove.co.uk/property-for-sale/property-30049688.html

G_M

Why accept 25% below market price from a company when you can drop your asking price 10 or 15% and find your own buyer?
Remember the 1st price they offer you will rarely be what you end up with!

andyi

That's the one (sorry would have posted but I thought links weren't allowed)

Doozergirl

andyi wrote: »

That's the one (sorry would have posted but I thought links weren't allowed)

You're a newbie - you won't be able to, when you get your post count up, you will.

Bit of a hard place to judge really. It reminds me of Blackpool where you get real variations between roads.

It's a big road as well with a real mix of houses but trying to find terraces on that Road I can see that number 51 sold for £89k in 2007. That was the peak of the market. More recently, number 133 has sold for £82k. I think you should have a look at both houses, do they compare? What sort of condition?

This house is very similar on face value; same road, similar style interior:
http://www.rightmove.co.uk/property-for-sale/property-15803681.html

It's on for less than yours and has been on the market for over two and a half years! Admittedly it started with a much higher asking price but it was on at £89,950 from February 2009 until the price drop in August.

http://www.rightmove.co.uk/property-for-sale/property-19361044.html
Been on since September 2008. Clearly overpriced.

The market looks dead where you are. Lots and lots of properties have been on the market for a long time. There isn't much new coming on using Property Bee and not much under offer at all. There is a 3 bed is Keswick Street, looks smaller but has sold quickly at £55k - one of the cheapest on the market. The other house that is under offer is a four bed round the corner which was on at £99k with your agent. Again, cheapest four bed.

Nothing happening in the middle at all.

What is the cheapest you can go to? I think it would be worth trying it at 'offers over' that price if you are desperate to sell and see what you get. It is very hard to sell in an area like that where people aren't very affluent and most people seem to rent from landlords? At the very least, you need to be cheaper than that house at £82,500 because they aren't having any luck selling either!

N79

If its an area that is mainly rented properties then you could try pricing so that a LL purchases it. To calculate how much a LL might pay you need to know the LHA rate for the property and the going private rental rate for 3 bed terraces in that area.

Maybe one of the property price google experts can uncover these two figures!