Has anyone had a company buy their house? and if so...

debt426yo

.....how much under market value do they pay?

Is it worth while?

Can anyone give me an example??

Thanks

L X

eatmyfish

debt426yo wrote: »

.....how much under market value do they pay?

Is it worth while?

Can anyone give me an example??

Thanks

L X

They pay around 25% less market "value", but houses are overpriced by 50% SO they will lose< isn@t that nice

LittlePiskey

Hi,
I saw an advert for one of these companies on tv last night and thought it looked a bit dubious - haven't any experience with anything like this myself but i'd be careful and make sure you don't undercut your potential profit.

x

Andy_Edinburgh

That's a rather harsh and judgemental comment to make without asking for any circumstances first! (Not to mention, somewhat poorly punctuated...) - EDIT: I was referring to a now-removed comment regarding someone's presumed "free" credit...


To try and respond to the original poster rather more constructively... I have no experience of these companies but have heard worrying things in the media regarding them; basically they are a means for companies to buy cheaply, let you remain in the property for 6-12months (with the house appreciating all the time), then they terminate your tenancy and kick you out, then sell the house at a huge profit.

What is making you look down this road?

Martinslovechild

I think that people use these kinds of companies when a relative has died and they inherit a property. Rather than attempt to sell the property and achieve full market value, they want to offload it ASAP to convert it into cash.

I've heard that they will offer in the region of 70% of market value. It's not in their interest to offer any more. The vendor usually wants rid in a hurry and the company offers instant cash.

BTW - House prices aren't overvalued by as much as 50%. The actual figure is 32%. This has actually been falling since it hit a high of 38% six months ago. However, 32% over the long-term trend still tells me there's trouble ahead for the housing market.