anyone tried a 'buy your house for cash' company?

dankes

Has anyone ever used one of those companies that buys your property for cash? They also offer to do it all very quickly - within a month.

I'm thinking of contacting one to buy my flat because I'm living in limbo waiting for a buyer. I was wondering if anyone had tried them and what their experiences were - good/bad? If they offered a fair price? Anything dodgy about them, etc.

Thanks in advance
D

Bun

Hi there,

I haven't used them myself, but I gather from Watchdog etc (dodgy friend of a friend was on it for this very thing) that they are a service you can use as long as you realise that they only offer a low price. After all, they are going to sell it on for profit. Matey was on for not making this clear until very late in the process. I gather that they are more upfront about it now, and the leaflets I've had through the door mention a 'trade' price and push the easy to sell in dire circumstances angle rather than the financial one. I think if you are selling in order to continue on the property ladder it may not be enough. I'd search on the site, but I'm sure below 75% of the value came up somewhere a while back, although I might have seen it on telly.

Norroy

This is only an option for really desperate people who NEED to sell fast.

If not, and your house is not selling try other methods.You could always try a different agent or simply drop the price by 5-10%.

zipwen1

i was going to use one once coz i was having problems with an investor i wouldnt do it if i were you they give you about 75% of the value but it wouldnt be the value that an agent would give the house as they say EA's overvalue property so you would prob end up with about 65%

roswell

low price.
no guarentee to renew lease,
can up the rent to market value.


look at it another way "How do they make money"
1) they buy 100K house for 70K (they say thats all its worth it gives them 30% deposit)
2) They charge you rent .. (You just gave them 30 K now you pay them rent for the pleasure)
3) They kick you out and sell the house ...

net result (you 0) them (1) load of cash