Has anyone used a quick sale website?

super_g

Things are moving quite fast for me with a new job offer on the horizon.. I accepted it.. and have a 1 month notice to work.. I wanted to sell my property quick and get the best price..

I have been looking at these quick sale websites... and some offer a sale within a month.. it is not the best offer... because the loss is greater for providing a 'beneficial' service..

Is this a safe route to go down? I want to sell.. move to a new location and rent instead of buying another property..

My mortgage is very small.. 3 estate agents valued it at £156,000 and the offers I am getting from quick sale sites are typically at 85% of the property value..

I want a safe sale.. and don't know if these sites can be trusted or if there are particular ones to watch out for..

Can anyone advise on the process??
How to reduce losses in a quick sale??
May be any good websites they can recommend for the purpose?

Stressful times!!! Moving!!! Here we go again..

Thanks, God bless and keep you all :-)

foxwales

85-90% is typical of what these companies initially offer for your property.

What you will find is as soon as you pick a company and start the process of selling to them, they will lower their valuation after having surveys done and will again lower their offer just before exchange of contracts.

In the end you will find that their offer of purchase will be in the region of 60% of the actual property value.

If you have substantial equity in your property, then approach an estate agent who can pro-actively Market your property at an attractive price.

If you want a quick sale and are prepared to take a hit on price, then use this to your advantage in attracting buyers.

DO not touch quick purchase companies with a barge pole, you will be substantially losing out.

sleepyj

Have you thought about putting it up for auction? You can put a reserve price on it and see what happens.

DPJames

I was thinking of a quick sale company too for similar reasons but i can't find anyone who has a single good word to say about them.
If you can afford to take 85% of the £156K then maybe just go with a good agent and put it up for £132K stating quick sale needed.
I think that's what we're going to do

PasturesNew

super_g wrote: »

I wanted to sell my property quick and get the best price..

Oxymoron.
You can sell it quick, or you can get the best price.
You can't do both.

super_g wrote: »

My mortgage is very small.. 3 estate agents valued it at £156,000 and the offers I am getting from quick sale sites are typically at 85% of the property value..

They are renowned for knocking the price down at the 11th hour.

What offers have you actually had, on paper, from these people? How 'guaranteed' is that sum, or is there small print?
Or are you relying on their verbal indications and advertising. They'll typically offer 85% of valuation, but when they value it it's a lot lower than your EA did.

Flashmanchop

[QUOTE They'll typically offer 85% of valuation, but when they value it it's a lot lower than your EA did.[/QUOTE]

Becuase an estate agent always inflates his price.

The RICS independant surveys we carry out, instructed by our bank, are as clear as black and white, and are sent to any vendors, should we have to adjust the price.

GDB2222

Flashmanchop wrote: »

[QUOTE They'll typically offer 85% of valuation, but when they value it it's a lot lower than your EA did.

Becuase an estate agent always inflates his price.

The RICS independant surveys we carry out, instructed by our bank, are as clear as black and white, and are sent to any vendors, should we have to adjust the price.

So, you obviously know that at outset, but you still offer 85% of the EA's value initially so as to get people interested. Then you knock them back later.

Trollfever

The RICS independant surveys we carry out, instructed by our bank, are as clear as black and white, and are sent to any vendors, should we have to adjust the price.

I get daily emails trying to flog me properties at 20%-30% below RICS valuations.

Flashmanchop

Trollfever wrote: »

I get daily emails trying to flog me properties at 20%-30% below RICS valuations.

Do you buy any of them?

Flashmanchop

GDB2222 wrote: »

So, you obviously know that at outset, but you still offer 85% of the EA's value initially so as to get people interested. Then you knock them back later.

quite the opposite infact.

We tell them that the EA will often inflate prices, and try to educate the reasons why, whilst demonstrating sold prices in the area, with brochures of the properties used as evidence.

We lose out on so many properties due to other firms tactics, which in turn often bight people on the bum.

If we come to the point of having a RICS survey of a lesser value then we first thought, we try to contest it, or if that fails we arm the seller with this information and let them make their own decisions.

super_g

So it seems like there is little hope.. any offers that I have are just online quick quotes... with no details thrashed out and nothing on paper.. I think the EA route is the best for me and I would go down this route.. but I have 2 months at best to find a buyer and then find a place to rent..

I wouldn't mind taking a hit through the EA because I get the feeling that I would lose more through a quick sale and you all have mostly confirmed this... its a difficult decision.. I still have some EA's coming over on the weekend to give me a value.. I know a good surveyor and he valued it again at 156... despite the fact the chimney needs re-pointing everything else is tip top..

We'll see how it goes.. worse case I will turn down the job. Thanks all.