we buy any house.com

rustie123

hi we currently have our house on the market and was wondering whether anybody had ever used these internet companies that claim to buy any home for up to 90% of the current property's market value?

GAH

If they pay 90%, it will be 90% of the valuation they put on the house, and nowhere near the price your looking to acheive.

Errata

Up to means just that. These organisations often offer only 60% 70% of whatever they decide the value is.

phoebe1989seb

......and drop their offer even lower when you're close to exchange and you are committed/too desperate to withdraw.....I wouldn't touch them with a very long barge pole

We wanted to achieve a very quick sale last year, put our house on at a realistic price and accepted an offer we were happy with within two weeks......and that was in an area where nothing was selling at all!

flora48

When I sold in 2010 one such company offered £154K over the phone, I sold for £200K.
Steer clear. Reduce to a realistic price to sell.

GDB2222

Come off it, what do you expect? They are only going to buy it from you with a view to selling it on. They have to pay for all of their purchase expenses, including stamp duty, plus they have to pay for selling the property as well as all the costs of holding it until they sell it. Plus, they want to make a profit. So, their internal calculation starts with a price that they can sell your house on quickly, then deducts all their expected expenses, then deducts the margin for profit. That is what they actually expect to pay. What they actually say to you in order to sucker you in may be something completely different, but in that case they will reduce the amount they offer just prior to the exchange of contracts.

pioneer22

Buy Low

Sell High

GDB2222

flora48 wrote: »

When I sold in 2010 one such company offered £154K over the phone, I sold for £200K.
Steer clear. Reduce to a realistic price to sell.

1st of all, £154,000 against the true value of £200,000 was pretty realistic from the buyer's point of view. They were going to have to to sell at a very keen price, whereas you were able to live in the property and were under less pressure to sell. So, to sell it quickly, they might have had to sell at £180,000, ie a 10% discount. Allow for their likely expenses and say a 10% profit margin, and £154,000 is spot on. I am not saying that that is a great price for the vendor, but it is about the maximum price that one of these companies can afford to pay. At least, they were honest with you, and so you did not go ahead with them.

Maybe, their buyer has learned his lesson from you, and next time he will offer £200,000 in order to get the people interested and then he will gazunder them back to £150,000 when it comes to exchange of contracts.

Werdnal

webuyanycar.com offered me £50 for my old car, which I then sold privately for £500, so factor that up for your house price and you get the general idea.

Once they have forced you into accepting their low valuation, and paying their admin and solicitors fees, you might be lucky to get 60-70% of what you are currently asking. Its a win-win situation - but for them not you!

Houses will sell, even in this depressed climate - why not cut the price yourself, rather than line their pockets for doing the same thing?

jimpix12

I know there's a lot of dislike on these Forums surrounding these companies, however they are there to make a profit like all companies. If you don't want to sell your house to them, then don't. Nobody is forcing you to.

GDB2222

spunko2010 wrote: »

I know there's a lot of dislike on these Forums surrounding these companies, however they are there to make a profit like all companies. If you don't want to sell your house to them, then don't. Nobody is forcing you to.

People dislike these companies because they are usually extremely dishonest. The companies do not say at the start that they will only pay 75% of market value. They give vendors the impression that they will pay much more than that, although it is obvious from just doing a few simple calculations that they cannot afford to pay more than around 75% and still make a profit. By the time the vendors are sucked into the process, having spent money on fees and so on, and perhaps having lost other buyers, they end up with no choice but to accept a much lower offer that they would have turned down initially.