House buying companies

Davesnave

Barbara_Malki wrote: »

Thank you for your responses but I asked if anyone had any experience of a house buying company.

You aren't going to find many respondents who will come on here and give a personal experience of quick buy companies.

I know this because your question comes up regularly, and people rarely do.

michael1234

mrginge wrote: »

I'm loving the idea that the longer the property is on the market, the higher the price is.

Great work.

Shocking how wrong this bit of sarcasm is.

Yes prices reduce over time but you will get a higher price for your property if you are prepared to wait longer.
That is why RICS valuation reports to lenders usually include a 30 sale price and a 90 with the 90 always being a higher figure. (30/90 are examples it depends on the valuer).
So in summary, if you want the best possible price, you market it at the higher end and slowly reduce if nobody bites.

mrginge

michael1234 wrote: »

Shocking how wrong this bit of sarcasm is.

Yes prices reduce over time but you will get a higher price for your property if you are prepared to wait longer.

Time on market may provide a wider potential customer base, but the reality is that prevailing market conditions will determine whether a price is appropriate.

In a stagnant or declining market your assessment makes absolutely no sense.

So in summary, if you want the best possible price, you market it at the higher end and slowly reduce if nobody bites.

This is the complete opposite of your first statement.

glosoli

Don't have any experience of it personally, however my current neighbour sold his previous new build flat through one of these companies shortly after completion and took a massive financial hit compared to if he sold it the normal way. (Not sure of his circumstances at the time and whether this was the only option).

In doing so, this apparently dragged down the value of the other new build properties on the estate, causing a lot of ill-feeling towards him!...