Companies offering to buy your property - recomendations

Rainmaker123

New poster - regular lurker.

After lowering the price of my house to a level well below the market value I found a buyer. The Estate Agent told me it was in a chain of 4 - so not too bad.

Just had an update from the agent advising that all is in place bar an enquiry with the purchasers property. Had the same response 2 weeks in a row so persued this with my solicitor. turns out there is a chain of 7 and the query is 1/2 way down the chain.

Problem is I have bought my new house. A Mortgage is in place just in case but really I need to get mine sold ASAP.

Assuming all goes well there will be no need for any action - but having been stuck in several 'Chains that broke' I am rather concerned.

There are a number of companies that advertise they will buy your old house. Are there any recomendations/pitfalls.

Alternatively (and this would mean pulling out of my purchase) are there any housebuilders in the North West who take part exchanges in East Anglia? I have tried Barratt but they won't even look at a property out of their region.

Finally does anyone have any other ideas?


Thanks

Debt_Free_Chick

Smogcloud wrote:

There are a number of companies that advertise they will buy your old house. Are there any recomendations/pitfalls.

They tend to offer around 70-75% of the average market value - i.e. the average of what 3 local EAs suggest is the market value.

Finally does anyone have any other ideas?

Not sure what the problem is. You say you have sold - but you are in a chain Is the property you have "sold" in the chain? If not, where are you living?

Rainmaker123

Situation is this

At the moment I am living in the property and my fiancee is living in a rented house up in the north west with no central heating and damp (the sale is a relocation due to our marriage). Fiancee cannot relocate down here and I don't fancy starting married life living apart.

Job wise things are sorted so not a problem.

My property is sold subject to contract (hate those words). Was told by the agent I was in a chain of 3 - found out yesterday this is now 7 - so yet again an estate agent lied to me.

I am hanging in with the sale for the time being. However my fear is the chain colapses (it has before) I will be stuck with the place.

My property was valued substantially above what I've been offered - I would be getting 83% of it's value. Don't know if I could take 70 - 75% but may be worth a try.

lynzpower

if it does collapse, have you considered auctions for a quick sale?

Hazevin

Sounds like you are having fun!!!! We had sold our house it fell through. So we are thinking about using one of the cash buyer type companies, we tried one they were're a complete rip off. Our house is on with a local agent who are getting folks through the door, but try getting any feedback or getting them to check out the muppets they drag out!!!
If any one has any ideas it would be handy, we have tried selling privately but only on the free sites. Not over happy paying up front for these services, willing to give it a try now though. So some help needed.

zipwen1

the cash buyer comps wont give you 70-75% of the adverage value that the EAs came up with as they always tend to overvalue a property, they will send out there own valuer and give you 70-75% of what they value your property at.

hazevin, try rightmove to sell there site is one of the top used sites

Hazevin

How do I use Rightmove without an agent?
Most of our local ones are hopeless.
I asked one to come out who has stuck us on the net in his window etc, we have'nt signed or agreed to anything!!!!

zipwen1

sorry its not rightmove its HOUSELADDER. if you have signed a sole agent agreement then you cant put it on the net yourself as you would still have to pay the agent his fee if you sold it so check with them about this.
you will have to tell you EA you dont want to use them as even though you said you havent signed anything a verbal contract is good enough for them and you may have to stay with them for a few weeks

Hazevin

I am already with one agent the other one came out to valuae. He was told to wait which he did not do so he had no right to market our house. Thanks for the houseladder tip. I will look at the site. I think you have to pay something upfront though. Not overly keen on that.
Thanks for your help.

Rainmaker123

Thanks for the advice - may just keep away from these. auction is a thought though - providing I put a reserve on it.

That said latest is only 1 buyer is holding the chain up - everyone else is signed up.

Just wish we had the Scotish system - much less heartache.

morleymackam

Does anyone know of any of these agencies in West Yorkshire? What title do they come under?

Would be nice knowing we had a backup plan in the chain for our new build!