Quick house sale

mc1605

Hi

First post as I need the best advice and feel here is where I'll get it.

I need to sell a house quick, I moved from my home 18 months ago and put my house up for sale but this hasn't happened despite me reducing the cost not because the agents advised be to. I've been unable to maintain the house as I live 85 mile away with children at school so very sadly the house is deteriorating.

I've been paying the mortgage and bills got 18 months and have no money left to carry on, so I'm thinking of a quick sale company, where i know the value is reduced are they actually any good?

How do I know I'll guaranteed get my money?

Any advice at all appreciated!!

Thanks in advance

Ps I've now taken the house off the Market as I had a cash buyer that fell through:(

mc1605

Sorry for typing mistakes!

80schild

I think the problem with Cashbuy companies which to me looks dodgy is that they make you commit right from having the valuation. With a normal sale you are only commited once contracts are exchanged. If you are selling to move in to another property and the purchase fell through, this would mean you would be tied in to sell the house for a very low price and would have no where to move to!

tattyuk75

From what I've read on here, they buy at such a huge percentage taken off the house price, you would be better off putting it back on the market and dropping the price as low as you can to get a quick sale. I suspect that the price offered by one of these companies would be a hell of a lot less than what you would be able to get by getting it back on the market and dropping the price yourself. I've heard various percentages bandied about of what they actually offer going from as low as 60% of the value of the house...surely you would be able to get it sold without taking that much of a hit?

LandyAndy

80schild wrote: »

I think the problem with Cashbuy companies which to me looks dodgy is that they make you commit right from having the valuation. With a normal sale you are only commited once contracts are exchanged. If you are selling to move in to another property and the purchase fell through, this would mean you would be tied in to sell the house for a very low price and would have no where to move to!

Well they must have to give you a valuation before you commit so ask them for one and see how much it undercuts your current price and then make a judgement about simply dropping your asking price to a bit above their valuation.

mc1605

Thanks all for the quick replies

My agents were more than useless, sl I'd hate to even pay them a penny!

I brought the house nearly ten yes ago at a very reduced price so will never lose out even in the current Market but even reducing the cost I'm not sure it will still sell quick enough.

The house is in the west midlands.

hermanmunster_3

I think some of them charge for the valuations and some of those who don't charge, drop the price just before the exchange when you feel committed to the whole deal

80schild

LandyAndy wrote: »

Well they must have to give you a valuation before you commit so ask them for one and see how much it undercuts your current price and then make a judgement about simply dropping your asking price to a bit above their valuation.

The two I contacted both emailed me a written offer and said if I accepted this offer and booked a valuation then I would be commited to the sale unless the valuation came out at less than the predicted offer.

You could contact a few of them and see what sort of offer they would make and then put your house on with an estate agents at this price as surely normal cash buyers or investors would then offer on it!

LandyAndy

LandyAndy wrote: »

Well they must have to give you a valuation before you commit so ask them for one and see how much it undercuts your current price and then make a judgement about simply dropping your asking price to a bit above their valuation.

80schild wrote: »

The two I contacted both emailed me a written offer and said if I accepted this offer and booked a valuation then I would be commited to the sale unless the valuation came out at less than the predicted offer.

You could contact a few of them and see what sort of offer they would make and then put your house on with an estate agents at this price as surely normal cash buyers or investors would then offer on it!

Offer / Valuation, much of a muchness for the purpose I was suggesting.:)

bristolben

I've sent the OP a PM. Please let me know if you haven't got it.

mc1605

BB I did get you pm and will be in contact