quick House Sale Needed

mirage

We have had our house on the market for 18 months now and really need to sell it due to a new job relocation. Has anyone had any dealings with companies who will buy your house. I understand they will only give you a percentage of your house valuation which i'm guessing is not that high. Just trying to weigh up all our options. Any information would be most welcome.

firstaspect

There is quite a few cash buying places and they are pretty reliable and honest. However you are likely to only get 60-80% of your house value.

FTBFun

firstaspect wrote: »

There is quite a few cash buying places and they are pretty reliable and honest. However you are likely to only get 60-80% of your house value.

That's debatable.

https://forums.moneysavingexpert.com/discussion/2521825

I'd be very cautious about using one of these. Couldn't you just ask your estate agent to really reduce the price if you're that desperate to sell?

mrstinchcombe

Im sure if you put your house on the market for 60-80% less than the valuation it will sell pretty quickly, surely?

If not part exchanging it with a new home would prob be better than what you are thinking and is another option.

mirage

We keep on reducing the price. It started 18 months ago at £600k and is now at £490k. I realise it's a sign of the times but it's so disheartening to see all you've worked for slowly going down the drain. We've change EA's 3 times during this time and each one insists there's nothing wrong with the actual house but being on a main road and next door to a primary school is probably what's putting people off. I only wish we could change these things. I'm concerned if we reduce the house anymore will people think there's something wrong with the house. Does anyone know if these house buying companies can find out how much we've come down by if we were to take the house off the market?

firstaspect

FTBFun wrote: »

That's debatable.

https://forums.moneysavingexpert.com/discussion/2521825

I'd be very cautious about using one of these. Couldn't you just ask your estate agent to really reduce the price if you're that desperate to sell?

It is if you go through one of those companies who say they have a buyer and act as a sort of proxy. I'm talking about the companies who will buy your house direct for cash at a massive reduced rate so they can sell it on for a big profit.
But yes a better option would be to just drop the price right down if that is the problem.

firstaspect

mirage wrote: »

Does anyone know if these house buying companies can find out how much we've come down by if we were to take the house off the market?

They will send out a valuator to check the value of the home who to be honest will probably value it even lower to get them an even better rate.

mrstinchcombe

Rent a place where you are working, you arent selling a cheap house so by using one of these quick house sale sites you will lose out by hundreds of thousands of pounds. If you were selling a house worth £150k Id be tempted, but you arent.

cardinalbiggles

mirage wrote: »

We keep on reducing the price. It started 18 months ago at £600k and is now at £490k. I realise it's a sign of the times but it's so disheartening to see all you've worked for slowly going down the drain. We've change EA's 3 times during this time and each one insists there's nothing wrong with the actual house but being on a main road and next door to a primary school is probably what's putting people off. I only wish we could change these things. I'm concerned if we reduce the house anymore will people think there's something wrong with the house. Does anyone know if these house buying companies can find out how much we've come down by if we were to take the house off the market?

I have seen a house thats been on the market the length of time yours has next to a primary school and a main road (albeit through a villiage) it was also 600k and had numerous estate agents boards outside. If its the same one in rural Perthshire then the reason is that people dont just spend that type of money on houses in the area, if its not then you an ignore me, hell you can ignore me anyway!

mirage

Thank you all for taking the time to reply. I agree we're probably in the bracket that's just not going to sell very quickly. As long as i don't pay any money to these companies i guess i have nothing to lose by getting them to value it at least. I'm hoping they won't have any way of finding out how much we've put it on the market for and then that way they'll be able to give a fair (all be it probably a very low) valuation. I think it may be a good idea to take the house off the market maybe until next March and have another fresh go then.

themull1

my house is near a busy road, but only worth about 150,000 i think if people were spending your kind of house money, they have the pick of the bunch to be quite honest, how much did you pay for it?