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Selling to house-purchase companies.

Nefeco
Nefeco Posts: 3 Newbie
in House buying, renting & selling
I'm thinking of selling a property (that I don't live in) using one of the (many!) house purchasing companies such as Gateway Homes or National Housebuyers.

Have you used a company like this to sell? Any hints, tips, guidance or specific company recommendations would be very welcome.

My main motivation is speed - I don't really mind selling for something under market-value but am more interested in being able to complete in days or a couple of weeks.

Thanks,

N.

Comments

  • poppysarah
    poppysarah Posts: 11,522 Forumite
    auction.

    every time.
  • GAH
    GAH Posts: 1,034 Forumite
    If speed is important to you, why don't you price it extremely competitively, offering it to an estate agent who can have cash buyers interested or place it in an auction.

    Even if you had one of these dodgy house buying companies round, they wouldn't buy it within days, and you would certainly not get a fair price for your home.
  • GDB2222
    GDB2222 Posts: 26,512 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Nefeco wrote: »
    I'm thinking of selling a property (that I don't live in) using one of the (many!) house purchasing companies such as Gateway Homes or National Housebuyers.

    Have you used a company like this to sell? Any hints, tips, guidance or specific company recommendations would be very welcome.

    My main motivation is speed - I don't really mind selling for something under market-value but am more interested in being able to complete in days or a couple of weeks.

    Thanks,

    N.

    How much under market value are you prepared to take, percentage-wise?

    In practice, all the local estate agents have cash buyers up their sleeves, provided the price is attractive enough. They may well be a better bet.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • newDude
    newDude Posts: 150 Forumite
    GDB2222 wrote: »

    In practice, all the local estate agents have cash buyers up their sleeves, provided the price is attractive enough.

    Do you mean they have friends/family who the estate agents tip off, or can normal buyers go in there and register as cash buyers/investors?
  • GDB2222
    GDB2222 Posts: 26,512 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 21 November 2011 at 3:33PM
    You mean you have enough cash in the bank to buy a house locally? Why not tell loads of local EAs, then? You'd need to be prepared to take a view on things like local searches, but in principle you can find a surveyor to do a survey within 24 hrs and exchange contracts 24 hrs later.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • ceegee
    ceegee Posts: 856 Forumite
    A local EA told me that as well as only "giving" you a stingy price for your house, they also add on whopping great fees. Not sure what the fees were, mind you.:o
    :snow_grin"Let it snow, let it snow, let it snow........":snow_grin
  • Nefeco
    Nefeco Posts: 3 Newbie
    GDB2222 wrote: »
    How much under market value are you prepared to take, percentage-wise?

    In practice, all the local estate agents have cash buyers up their sleeves, provided the price is attractive enough. They may well be a better bet.

    I guess around 20%...
  • GDB2222
    GDB2222 Posts: 26,512 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Nefeco wrote: »
    I guess around 20%...

    These companies tend to want 30%, whereas a local cash buyer may well do it for 20% if he knows the EA and relies on him to turn it quite quickly.
    No reliance should be placed on the above! Absolutely none, do you hear?
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