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Quick selling property. Good idea or avoid at all costs?
mssloan
Posts: 67 Forumite
Hi,
I was wondering about these companies which offer to buy any property quickly at probably 90% of its market value. I have some queries:
1) Sounds too good to be true. That the case or is it a viable option?
2) Whose valuation do they use? Yours or theirs?
3) What costs are involved?
4) Is there already a MSE guide on this topic and can I have the link please.
Regards,
mssloan
I was wondering about these companies which offer to buy any property quickly at probably 90% of its market value. I have some queries:
1) Sounds too good to be true. That the case or is it a viable option?
2) Whose valuation do they use? Yours or theirs?
3) What costs are involved?
4) Is there already a MSE guide on this topic and can I have the link please.
Regards,
mssloan
Free at last! Free at last! Thank God Almighty, I'm DEBT-FREE at last! (with apologies to Martin Luther King 
)
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Comments
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There is absolutely no need to use these companies at all. Priced correctly it'll sell at 100% of it's market value in the normal manner.0
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i don't know about the individual companies, but we talked to a new home builder who were "willing" to buy our house at 90% of the value in order for us to buy one of their new ones more quickly.
They said that they would instruct three local to our house agents to value it, and then take the mid price of the three.saving up another deposit as we've lost all our equity.
We're 29% of the way there...0 -
These companies actually buy at less than 75% of market value. If they say they are buying at 90%, then you can be quite sure that it will be 90% of some incredibly low valuation that they put on it. Also, beware them dropping the price at the very last minute, just when you are about to exchange contracts.No reliance should be placed on the above! Absolutely none, do you hear?0
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DannyboyMidlands wrote: »There is absolutely no need to use these companies at all. Priced correctly it'll sell at 100% of it's market value in the normal manner.
You can get 100% that way, but not necessarily very quickly. To get a quick sale you probably need to drop a bit below the market value, but not the 25% below that these companies actually try to get away with.No reliance should be placed on the above! Absolutely none, do you hear?0
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