Property purchasing companies that promise speed - any advice?

Conrad

I wondered if any of you has any experience of selling to a property purchasing company?

A relative of mine based in Essex has been told by a company called MORRAY FLANDERS & CO (01992 650423) that they will buy her house with cash and exchange contracts in 72 hours.

She is in a pretty desperate state and just wants the place sold quick, even though Morray Flanders have offered her only 90% of the open market value.

Anyone had experience of this or similar companies?

lynzpower

you ll be very lucky to get 90% the average is more like 60%

theres loads of info on these type of cos on the property boards.

dexters_mum_2

It will be up to 90% of the market value and more than likely it will be as Lynz said, 60% or 70%.

Basically I am business friends with someone who works in one of these companies and they give 70% of their surveyors valuation.

Watch out for any company that will charge £1000+ for a survey, do not go with those if you can help it, if you don't like their valuation, you've lost your £1000.

Conrad

Ok this morning this company has offered my relative £174000 for her house which is easily worth £195000 - so it sounds resonable, no?

Keep in mind she is desperate to sell. Shuold she take the offer?