Advice re Selling house to quick cash companies

masueuk

Hi all

Can anyone help. We moved to a rented house at the end of last year. Since then my son died and most recently my mum died. We still have our house with mortgage but our financial situation is now becoming critical. I am sick with worry about it all. I am tempted to contact some of the buy within 28 days companies but wanted to know if anyone has experience of them, good or bad. The house is probably worth about 130k.

Please dont shout at me, I dont think I can take much more but dont have much life insurance so that isnt a solution either.

masueuk

jc808

Dont

Sell it at auction or with an EA for a knockdown quick sale price
The cash companies WILL rip you off

Sorry for your loss btw

tbs624

masueuk - sorry to read of your circumstances.

My suggestion would to avoid these companies - they are likely to pay at least 30% under the full market value for your property.

Have you sought advice from your lender/from debt counselling agencies?

flecker

Is your house on the market already? Can you ask the existing estate agent to knock 15% off the asking price? It's still likely to get you more than the cash companies will give you, and you're likely to get a quick sale.

Sorry to hear about your situation - wishing you the best.

lincroft1710

masueuk wrote: »

I am tempted to contact some of the buy within 28 days companies but wanted to know if anyone has experience of them, good or bad.

This question has been asked several times by previous posters, but as the usual (excellent) advice is don't use them, no MSEr has probably ever used them. The previous 3 posters have given you the best advice.

Soot2006

My friend's experience was that not only they knocked off 30% of market value - she accepted as was desperate/leaving the country ... then on exchange day, they knocked off another 10% as knew she was in dire straights ... I think she sold it anyway as there was only a tiny mortgage and she wanted gone *now* so it didn't matter in the grand scheme of life.

I_was_just_wondering

As others have suggested, you can put it in an auction. Assuming it sells, completion would be 4 weeks after the auction date (when you would get the money).

The only reason that it may not sell at auction is if it didn't reach the reserve you set.

You can leave it on the market with the EA until the auction if you want, but you would probably only want to accept an offer from a buyer who could exchange immediately. (Otherwise you might end up accepting the offer, and the auction date passes, then the buyer drops out.)

You will probably get less at auction than you would selling conventionally through an EA, but it is likely to be more than the "buy within 28 days" companies would pay.