House Buying Company help?

davidhenson1

Hi Guys,

Found this website http://www.privatehousebuyers.co.uk

Just wondering if anyone has used them before/any reviews?

Offered me a fair price based on an estate agency's valuation which was a lot higher than other companies i have contacted.

I understand the stigma around using these companies, i am just looking for a fast sale to free up some cash to clear some outstanding debt.

Thanks in advance.

G_M

Don't know them, but there is a simple truth - they are in the business of making money. They are not charities.

If you don'tmind selling for below market value, go for it.

How much below will vary,butit will always be a significant amount, otherwise it is just not worth their while.

They may initially offer an attractive amount, but I guarantee by the time you reach the end of the sale process, it will be far less.

davidhenson1

Cheers for that.

They gave me an offer based on my valuation which is a rough guess. They did explain that their offer needs to be against an independent estate agents valuation which seems fair enough. Hopefully i can get to choose the estate agent - but they did say they do offer around 85% which i would take to be honest but as you say they will probably offer me a lot less when it comes to it.

I pay no fees which always helps offset the hit i take.

I'll give them a try and see what they come up with, i have nothing to lose unless they ask me to pay for anything!

zzzLazyDaisy

Their valuer will value the house much less than an open market valuation, and then they will offer you 85% of that. These people prey on the desperate.

Guest101

HAd similar stories, but they say they typically offer 85%, what do they typically buy at? I'd guess closer to 75, or even 70%

ValHaller

davidhenson1 wrote: »

i have nothing to lose unless they ask me to pay for anything!

What you have to lose is your choice between

• solicitor's fees for a sale to the point of exchange of contract
• the reduction in offer immediately prior to exchange of contracts

There almost certainly will be a loss involved

Werdnal

Last time I changed my car, I tried a valuation from one of the "car buyer" websites. They quoted me £100 (I could have got more at scrap value). I then sold it privately for £500. Factor that up for a house price valuation and you get the general idea ...

Coopdivi

The 0330 phone number is a non-geographical one.

The contact address has been misspelt and is very vague - Picadilly, Mayfair, London, W1J 0DW

There's no address on the Domain Registration because 'The registrant is a non-trading individual who has opted to have their
address omitted from the WHOIS service.'

http://whois.domaintools.com/privatehousebuyers.co.uk

The site was only registered on the 5th of March which makes their testimonials look extremely dubious.

In conclusion this website has all the hallmarks of being run by a shyster.

davidhenson1

Thanks for all your help guys. Probably give my local estate agent a call.

G_M

If you instruct an estate agent to market it at 90% of market value "for a quick sale" it will be snapped up.

Everyone loves a bargain.