'We buy any house'?

charltonkeston

DannyboyMidlands wrote: »

"It may be priced correctly but there may also be a lack of buyers in that area."

This just doesn't make sense. If there aren't any buyers at that price then it can't possibly be priced correctly.

Any house will sell into any market providing the price is right.

It does make sense, if there are no buyers for a product you cant sell it at any price.
It not all about price.

MrandMrsB

Please do not even consider using one of those companies! I too have seen properties for sale that are "priced to sell" or "must be sold".

Have you considered renting out your property and using the income to help to pay your mother's mortgage? That way if your circumstances change you will still have your own place. Just a thought.

xxxladypenelopexx

Our buyers went for this option out of desperation. They'd tried everything to sell their house - reducing their price expectations drastically even auction but it just wouldn't budge. They went to one of the "quick sell" companies and were offered about 75% of their reduced asking price. They decided to go for it as they wanted our house so much. Everything seemed to be going smoothly and they even got to the solicitor's office to sign the paperwork. Whilst they were reading through the contract with the solicitor, the "quick sell" company phoned them on their mobile and told them that they were reducing the price by another £20 000 and if they signed the contract, they'd be agreeing to that. The solicitor was absolutely flabbergasted and said he'd never come across a situation like that in his life. Our buyers couldn't afford to drop another £20 000 so they said "No" - understandibly so! That leaves us all back at square one. Moral of the story? Don't even think about it!!!

DebG1

Wow, thanks everyone, that was my first post on MSE and I wasn't expecting so many replies so quickly.

Ok, I was kind of expecting a lot of what has been said but was wondering more about anyone's experience of this company in particular.

Just to give more of a background - we have just started looking to upgrade and found a very nice house which meets all of our search criteria. We have only just put our flat on the market and took advice from three agents all of whom suggested a similar value - we put the flat on for just under this.

The cash offer from the company is actually 90% of this which sounds reasonable, especially when you consider the estate agents fees etc that would come off the sale price with an agent.

We are looking for a quick sale so the cash offer is tempting...
(we are not ruling out offers and reducing the marketing price).

poppy10_2

DebG1 wrote: »

Wow, thanks everyone, that was my first post on MSE and I wasn't expecting so many replies so quickly.

Ok, I was kind of expecting a lot of what has been said but was wondering more about anyone's experience of this company in particular.

Just to give more of a background - we have just started looking to upgrade and found a very nice house which meets all of our search criteria. We have only just put our flat on the market and took advice from three agents all of whom suggested a similar value - we put the flat on for just under this.

The cash offer from the company is actually 90% of this which sounds reasonable, especially when you consider the estate agents fees etc that would come off the sale price with an agent.

I think you meant to post here.

I seriously doubt you will ever get the 90% the company is offering. The way most of these shady operators work is to offer an attractive bid at first to lure people in, get you signed up to contracts with hefty penalty clauses, and then drop the offer at the last minute to 50-60% of the original price. Thus leaving you to either accept the derisory offer or have to pay massive penalty fees.
Avoid. It's much better to drop the price to a reasonable level and sell it yourself.

breadlinebetty

DannyboyMidlands wrote: »

Why do people find it so difficult to comprehend? The reason your place has been sitting on the market for a year is that it is over-priced. Simple. No ifs. No buts. Drop the price and it will sell.

That's not necessarily true. In some cases it is, but there are actually some properties that are so horrible you couldn't give them away! So dropping the price ain't gonna help.

Whilst LOCATION LOCATION LOCATION is still hugely important, people expect more for their money now. Which means the property itself has to be up to a certain standard.

No-one is going to buy a dump - however much they reduce the price.

You need to make your property cosmetically appealing, and the competition is fierce now. OK, you can't do much about the structure of the property - or the location - but if you try and sell a dump don't expect any interest!

Thermidor

breadlinebetty wrote: »

That's not necessarily true. In some cases it is, but there are actually some properties that are so horrible you couldn't give them away! So dropping the price ain't gonna help.

Whilst LOCATION LOCATION LOCATION is still hugely important, people expect more for their money now. Which means the property itself has to be up to a certain standard.

No-one is going to buy a dump - however much they reduce the price.

You need to make your property cosmetically appealing, and the competition is fierce now. OK, you can't do much about the structure of the property - or the location - but if you try and sell a dump don't expect any interest!

Absolutely correct!:money:

No amount of price reductions will shift a dump. Full stop!

GDB2222

Thermidor wrote: »

Absolutely correct!:money:

No amount of price reductions will shift a dump. Full stop!

If it's a decent house in a decent location, it will sell for a price that reflects any updating needed. It may sell for more, as people like doing their own updating.

Wobblydeb

breadlinebetty wrote: »

That's not necessarily true. In some cases it is, but there are actually some properties that are so horrible you couldn't give them away! So dropping the price ain't gonna help.

Whilst LOCATION LOCATION LOCATION is still hugely important, people expect more for their money now. Which means the property itself has to be up to a certain standard.

No-one is going to buy a dump - however much they reduce the price.

You need to make your property cosmetically appealing, and the competition is fierce now. OK, you can't do much about the structure of the property - or the location - but if you try and sell a dump don't expect any interest!

Codswallop! Get yourself along to a property auction and watch the investors ignoring the well presented stuff for the bargains. They buy what will give them a decent yield, which often is the stuff in less than desirable areas, but the price is low enough for the LHA rent to give them 10% (or more) per annum yield.

I saw a fire damaged place in a nightmare location get no interest at auction, until the auctioneer started at £500. He eventually got to a few thousand, so even something uninhabitable, in an area you wouldn't want to live in, found it's price.

breadlinebetty

Wobblydeb wrote: »

Codswallop! Get yourself along to a property auction and watch the investors ignoring the well presented stuff for the bargains. They buy what will give them a decent yield, which often is the stuff in less than desirable areas, but the price is low enough for the LHA rent to give them 10% (or more) per annum yield.

I saw a fire damaged place in a nightmare location get no interest at auction, until the auctioneer started at £500. He eventually got to a few thousand, so even something uninhabitable, in an area you wouldn't want to live in, found it's price.

Well the buyer had no business acumen then!

You can buy a whole STREET in some areas up north for about £5000 - a road of terraces - but no-one will buy them because no-one wants to live there.

Which means NO rental income!:money: