Housing Quick Sale Companies

douglas_ohare83

Hi folks,

We currently own a flat but we have been offered a council house to rent which is more suitable for my wife's medical conditions.

We were looking to quickly sell the flat we have, and were considering using a quick sale company.

I know the valuation / offer from the company will be below market value but as long as its enough to cover the remainder of our mortgage plus a wee bit extra then we are willing to take the hit.

Does anyone know if there are any companies that are better than others, or has anyone used one of these companies before?

Thanks in Advance!

Crashy_Time

Previous advice on here was to avoid these companies, and just reduce the price with a local agent, as they take less of a cut?

Typhoon2000

Expect 50% less than what it's worth. Better to put in in an auction, just as quick and you may get 25% more.

Crashy_Time

A house is "worth" what a buyer will pay you for it.

douglas_ohare83

thanks for your replies

the biggest problem i have is i cannot afford to pay my mortgage and rent at the same time, hence why i was going for a quick sale route.

cant really afford to pay to get valuations done etc as well. Not sure how it all works either.

Crashy_Time

Get permission to rent the flat out short term from the mortgage company, tell the tenant they need to let potential buyers view, for maybe a slightly reduced rent?

Cakeguts

Get a local agent to put it into an auction. If you get it into an auction soon you might even sell it quicker and with less hassle than the quick buying companies. You will probably also get more for it.

douglas_ohare83

thanks again guys

one thing i was considering, if i can manage it, is using a company like purple bricks with a fixed fee sale, and list the flat at lower than market value, see if i can get a quick sale that way

Cakeguts

douglas_ohare83 wrote: »

thanks again guys

one thing i was considering, if i can manage it, is using a company like purple bricks with a fixed fee sale, and list the flat at lower than market value, see if i can get a quick sale that way

The thing about putting it into an auction is that the auction house circulates the details of what is in their next sale so you get quite a lot of publicity that way. Also people don't have to wait until the auction to make an offer so if you got an offer prior to the auction that was acceptable to you, you could sell it before it got to the actual auction. You would need to talk to the agent connected to the auction about what price would be acceptable to you. If you ever look at an auction sold list you often see properties listed as sold prior. That means that the seller accepted an offer before the property reached the auction.

hazyjo

Estate agents will value it for free.

Cheap enough, and they may have an investor who'd be interested. They'll usually want to buy a quickly as possible.

In this market, you'd want a property that's easy to rent out. Wouldn't think it would suit a developer as the market appears to be slowing down. They'll not want to spend £££ only to lose it all.

Auction prob the way to go. Set a reserve.

Jx

crisp

You will expect a lower than market offer for the time saving etc.

It depends on how quick you can sell conventionally, condition of the property and area. What area of the country are you?