Any advice on this- company who buys house within 14 days

davidmcn

fozzeh wrote: »

Selling with the tenant with a 8 week rolling contract shouldn't put buyers off surely

Yes, it surely will. Tenants don't always leave when they're meant to, and aren't always cooperative with viewing/survey arrangements. Purchasers will prefer a vacant property.

Plus the blurb you've quoted says the house-buying company expects vacant possession.

And they have a confusing use of "completion" to mean "we're moving into your house and not paying you anything more than a deposit" - why do they need possession at all? Are your lender and insurer really going to be happy with the arrangement? When does real "completion" happen and you receive the "guaranteed" price?

marksoton

fozzeh wrote: »

Selling with the tenant with a 8 week rolling contract shouldn't put buyers off surely, seeing as buyers quite often have to wait way more than 8 weeks for the property t obecome tehirs due to waiting for the sellers to find their own place?

It will, and lenders,and solicitors.

People want vacant possession unless they are specifically BTL and looking for a tenant in situ.

fozzeh

I know it all sounds a bit odd... i said the future mortgage company wouldn't be happy knowing we already have a mortgage that some odd company are paying? I think it's made my mind up thank you! Will go ahead with putting it on the market and see how it goes and if we don't get any luck we'll go down the auction route perhaps.

AdrianC

Ignoring the "up to" price guarantee (£3.45 is "up to" £93,000 - on a house valued at £110,000)...

What a bizarre sequence of events. It LOOKS, from that lot, like they expect vacant possession to be handed over to them on exchange. They then refurbish the place if needed, and put it on the market - paying your mortgage/insurance etc - but don't actually pay you the balance until THEY sell it to a genuine punter, and THAT sale completes.

Don't walk away from this. RUN away.

If you genuinely need a quick sale, put it in an auction. This is a scam designed to part the gullible from a lot of money.

wwl

Talk to a local estate agent to see at what price they believe they could sell it pretty much immediately - they will have lists of people looking in the area.

konark

Dealing with these sorts of chancers is the last resort of the desperate seller, and they'll take full advantage of that. You'll have a nightmare experience, get messed about, have to pay a string of arbitrary fees and they'll probably crown it all off with a substantial 'gazunder' the day contracts are due to be exchanged; it's all part of their 'business model'. Any payments they make to you will be delayed by as much as they think they can get away with.

eddddy

What????

fozzeh wrote: »

A guaranteed price of up to £93,000 after all costs.
.....

These offers are subject to valuations and are based on valuations circa £110,000. We will arrange for two local estate agents to value your property for us....

So an agent says it will sell for £110k, but you only get £93K.
So NPT get a fee approaching £17k!


Hint... go to the estate agent directly yourself. (Then the fee will be about £2k instead of £17k).

JJG

marksoton wrote: »

They've guaranteed you a price UP TO £93,000.

So no guarantee at all...

Technically they've guaranteed they won't pay you anymore.:D

Prothet_of_Doom

Or sell it via auction with good happy tenants.

borborygmous

JJG wrote: »

Technically they've guaranteed they won't pay you anymore.:D

Do you mean anything?