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OFT Investigates Three Quick House Sale Firms
Depth_Charge
Posts: 970 Forumite
Hi
OFT 'Action'
The OFT has opened formal investigations into three quick house sale firms for alleged unfair practices that may have led to some customers losing tens of thousands of pounds.
http://www.oft.gov.uk/news-and-updates/press/2013/58-13#.UgHyv5K1FO
Vulnerable people mentioned again
Another grubby area / industry in my opinion
OFT 'Action'
The OFT has opened formal investigations into three quick house sale firms for alleged unfair practices that may have led to some customers losing tens of thousands of pounds.
http://www.oft.gov.uk/news-and-updates/press/2013/58-13#.UgHyv5K1FO
Vulnerable people mentioned again
Another grubby area / industry in my opinion
0
Comments
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The links from within that page
Consumer report and top tips
The OFT study
OFT case page on the investigations0 -
none of your 3 links work, whereas the links in googler's post do so not sure why you postedJust wanted to update this thread because the OFT has since been closed and as such all these valuble links have been archived and difficult to find.
I think it's still important for house sellers to easily find them so here are their current locations:
Consumer Report and Top Tips for Using Cash Home Buyers
The OFT Study of Quick House Sale Companies
OFT Case Page & Investigations into Quick House Sale Firms0 -
A Link to an Interseting Blog of one of the companies Investigated:-
http://stuartsblogdotorg.wordpress.com/0 -
There are issues with quick sale companies as some rogue investors use this to 'fleece' stressed sellers.
However I used to work in this market and the company I worked for was very ethical. If we bought a property in and sold it out for more than we'd estimated, we used to give 60% back to the previous owner, but if we lost money, that was our problem.
So there are a few that OK, but most I wouldn't use.
To be honest you shouldn't need to either as if you price your property fairly in the first place or say you need a 'quick sale' to the agent and drop it by 5-10% for a real cash buyer or whatever they recommend, someone should buy it.
Quick sale companies in comparison will need around 15% discount to make it pay.0
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