yellow springbok fast house purchase

[Deleted User]

Please note this thread was started three years ago.., previous comment was 18 months ago so you may be waiting a while for a reply. If you read the whole thread you will get the gist of the general recommendation to not touch any quick sale company.

Lindy05

Thanks for your advice. Yes, I have read the posts and I totally agree that it is a bad idea to use quick sale methods but unfortunately I have already signed a contract with them and the cooling off period runs out in 2 days. I saw that the post was a long time ago but I was hoping it might get a reply as it is someone who has dealt with them themselves and hopefully they could give me very useful advice as I am worried about incurring costs even without a sale.

[Deleted User]

I'm afraid we can't see the paperwork you signed. What does it say about charges if you cancel the agreement either before or after the cooling off period?

Do you have a solicitor? Might be worth discussing it with them if you do.., although I realise your time is short.

Crashy_Time

Lindy05 wrote: »

Hi, Thanks for your information about springbok, I have recently put my house on the market with them and I am in the cooling off period for a few more days. I would like to withdraw my property off the market with them. They want me to accept an offer that is lower than market value and on top of that I will have to pay their fees are £4,500 making it unlikely that I will be able to a property as good as the one I am trying to sell! Can I ask you how you got out of your contract with them and did you do it without incurring any extra costs? I would be very grateful for any advice you can give.
Very worried.
Lindy

If their offer is lower than market value why don`t you just put your house on the market and take market value?

Lindy05

Thanks I am going to ring a solicitor.

Lindy05

Yes, Thats what I want to do but I am in a contract situation and so I need to find out what the repercussions of coming out of that contract are.

eddddy

Lindy05 wrote: »

I have already signed a contract with them and the cooling off period runs out in 2 days.

So phone them to say that you are cancelling the contract during the cooling off period. And then confirm it with an email or letter. (If you chose letter, make sure it is delivered before the cooling off deadline.)

Regarding, costs you will be liable for, here's what Citizens Advice says:

If you paid up front or made a deposit and cancel in the cooling-off period you’ll be entitled to receive all of the money back. The only exception is if you asked for services to be provided during the cooling-off period, in which case the business will keep what’s necessary to cover the cost of services provided up until you cancelled.

If you didn’t give the business any money but they provided services during the cooling-off period at your request, you'll probably be expected to pay them for these unless your contract with them states otherwise.

Link: https://www.citizensadvice.org.uk/consumer/changed-your-mind/cancelling-a-service-youve-arranged/

Here's a template for the email or letter: https://www.citizensadvice.org.uk/consumer/template-letters/letters/cancelling-goods-or-services/letter-to-cancel-goods-or-services-bought-at-home-or-in-a-public-place/

Lindy05

Thank you so much for this info, it's greatly appreciated. I wouldnt recommend anyone use fast sales except in circumstances of having difficulty selling a property. I've given it a lot of thought backward and forwards, over and over, and I'm thinking of accepting the buyers offer and I really hope everything turns out alright. They do sell them quick but their costs are so high, £4,500 which includes solicitors. It's been real turmoil and I hope Ive made the right decision.

pauln1

As with everything it's Caveat emptor. There probably are sharks and very sharp practices in this area, I'm lucky - I'm well educated and my wife is a legal professional, so we're not likely to get scammed.

There are people who are desperate and/or gullible (hopefully if you're here, that's not you) and regulation is needed to protect people for some very clever "scammers",

In our situation we struggled to sell a pretty niche property - not for lack of willing buyers, but lack of able ones (all had property to sell) - we could afford to take 50k less - and weighed that up against other factors.

We also called 10 companies to get competing offers, worked well in advance of when we actually needed to sell - they were effectively a reserve should no buyer appear.

pauln1

Cash offer seems to be 70% of market value.
The 90% offer is based on them marketing
This is generally not clear in the marketing where they blur these two options

There are many bad estate agents winning business by inflating the property value - which just least to months of inactivity as the buyers go elsewhere.

I wonder if these companies thrive generally by keeping it simple: Do estate agency simply and efficiently with realistic/competitive valuations.