Should we consider cash buyer?

nelly_b_2

Please Help!!!!
We have had our house on the market for a year. we have had four viewings. we have not had any decent feedbak from the viewings to say exactly why the house isn't selling. it is nicely decorated and has no problems with it and according to many agents it is not over-priced!
We have considered reducing the price considerably, but our agent has advised us against this as it puts potential buyers off as they think there is something wrong with the property.
We need to move quickly as I need to move nearer work so we are considering using one of the many cash purchasers that I have seen advertising.
I would like to know if anybody has had any dealings with this sort of thing and whether there are any catches to using them (obviously they offer a low price, but i'm desperate!).
They say they will buy a house quickly and without any hassle, it certainly sounds tempting!
Any advice would be gratefully received.

vansboy

Easy one this... DON'T DO IT!!
You'll be stung for a 'valution fee', regardless or not you sell it to them, then offered, if your lucky, 75% of it's real value.

Consider, first, talking to other agents, checking what HAS sold near you recently & for how much & how long it took.

Think about letting the property, not my personal favourite, but might be cheaper than loosing £$£$ on it's value. You'd need to get it remortgaged as buy to let, though - so costs there, too.

Bridging loans from the bank another option, but best only as short term, once you've a buyer & contracts ready.

What about your employer - if it's a big company, do they have facilities for interest free/cheap/no interest loans for staff?

VB

MJMum

We have had our house on the market for a year. we have had four viewings. we have not had any decent feedbak from the viewings to say exactly why the house isn't selling.

Change your agent. There are only two reasons houses don't sell: price or marketing. If you are not getting feedback (even feedback from potential applicants in your price bracket who do not want to view) then your agent is not working for you properly.

silvercar

the more legitimate quick purchase people will pay for their own valuation - don't be conned into paying them.

expect 70% of market value.

wouldn't you be better knocking 10% off the asking price and continue selling your house?

cattie

If you've only had 4 viewings in a year then price must be the stumbling block unless you live in a very undesirable area.

What's the point in thinking of using one of the people who buy up property very cheap for cash when by reducing your price you are likely to achieve a quicker sale & get a better price than one of these outfits will offer you?

It seems a bit silly your ea saying a lower price will put people off. Lots of people reduce the price when they need a quick sale so there is nothing out of the ordinary in this. If he hasn't even got you one offer in a year he hasn't come anywhere near to even getting you a sniff of a sale so it's time for you to take radical action.

theGrinch

dont pay for any valuation fees, but invite them around and compare what they offer to your timescale for a move. If you are not that motivated to move then simple, decline. If you really need to sell quick, then its an option - but go in with your eyes open.