Companies that buy your house below market value - anyone have any experience?

Hoof_Hearted

The pictures do not do justice to the place. Some better ones may help. Fabulous views....

robatwork

Why don't you get them to value your property and give you an offer?

Then we can tell you why it's derisory - and it will be.

No idea why your place isn't selling - fantastic location. But they will doubtless offer you <£100k.

So you can probably drop your price by £30k and still end up ahead...

Annie1960

Where is the floor plan? That is usually the first thing I look at.

The property does seem to be in a remote area which may explain why it's taking time to sell.

As with any other market, the mechanism that determines how quickly you will sell is supply and demand. Drop the price = increase demand.

booksurr

hostie wrote: »

It's here:

Things are very slow in the North of Scotland at the moment. I have thought about advertising it in places like Metro in case there are people looking for a holiday cottage but it would cost a few hundred pounds to do that and I'm not sure if it is worth it.

If anyone has any advice, I would be interested to hear it.

very poor EA listing, photo refers to a detached house yet without a floorplan its impossible to understand what is going on and who owns what. Photo shows a relatively large building but the description implies it is small and does not refer to some things seen in the picture (door on the right?)

there is no mention of upstairs or downstairs and it is confusing as the living room appears to be upstairs so was it in fact the original master bedroom and the yellow shelves room (additional family room?) is the original downstairs (small) living room ???

a living room upstairs may exploit the view but is not a strong selling point for family use but then your target market is ill defined since it could still be a holiday market given how remote it is

have you compared your competition? the only other property that comes up in the "see more properties like this one" is a "traditional" 5 (yes five) bedroom house priced at £1,000 (yes only £1k) more than yours which looks a much better proposition than yours to be honest (albeit the latter's kitchen is dire !)

plumfin

The blurb on the EA's page says it was used as a holiday let, would any of the other owners be interested in buying? I know the area and although remote, it is off the main road North and South I assume? My customers in Brora and Helmsdale have a lot of golfing customers themselves, so maybe one of the other landlords might be interested. Before I even read the details I could tell it was not lived in, so perhaps make it a little less sterile? Lovely area, I do envy you! Good luck.

hostie

booksurr wrote: »

very poor EA listing, photo refers to a detached house yet without a floorplan its impossible to understand what is going on and who owns what. Photo shows a relatively large building but the description implies it is small and does not refer to some things seen in the picture (door on the right?)

...
have you compared your competition? the only other property that comes up in the "see more properties like this one" is a "traditional" 5 (yes five) bedroom house priced at £1,000 (yes only £1k) more than yours which looks a much better proposition than yours to be honest (albeit the latter's kitchen is dire !)

There are two other properties for sale nearby but both are on the A9, which is the main road through the Scottish Highlands (that the big lorries take, as well as normal traffic) so are unlikely to sell.

People who want to move to somewhere beautiful like this, generally want a peaceful location away from the busy main road. That is why mine is priced at about the same as the 5 bedroom property. Mine is in a peaceful location away from the main road, the other one is not.

Thanks to the people who gave me advice on the listing. I will get in touch with my estate agent and ask them to add a floor plan. It is true that the photos don't do it justice. There is also a nice new modern shower room, a dining room and a garden, which the photos don't really show.

the_flying_pig

i've no idea if the OP's house is worth £150k or not, but something I can say with confidence is that, whatever the true value is, you'd be lucky to get even three quarters of it through one of those abysmal companies.

bmunky7

House looks good and in a great holiday home location. Unfortunately dropping price for this type of property isn't necessarily the answer - I've seen lots of great homes in beautiful but isolated locations with low prices and they still don't sell quickly (I look a lot as I want to move back to Gods country some day). But I really wouldn't use one of these quick sale property buyers, my wife used one before we met and sold for 138k, 4 months later they resold without doing any renovation, for 240k. I was gutted to hear that story.