Company called "British Homebuyers"

muppetscotland

Does anyone have any experience of using this specific company? they have offered me 95% of market value of our house. We are in a bad situation and need cash urgently in a terrible local housing market.

Thanks

Slithery

They have currently offered you 95% of the market value.

Expect this to drop massively as they amend their offer just before exchange/completion.

Pixie5740

Have they submitted that offer in writing to your solicitor?

Pixie5740

Slithery wrote: »

They have currently offered you 95% of the market value.

Expect this to drop massively as they amend their offer just before exchange/completion.

The OP is in Scotland so there won't be exchange or completion.

TrickyDicky101

muppetscotland wrote: »

Does anyone have any experience of using this specific company? they have offered me 95% of market value of our house. We are in a bad situation and need cash urgently in a terrible local housing market.

Thanks

Seriously, ask yourself why anyone would offer you 95% of perceived market value when they ain't gonna be able to sell due to the (in your own words) 'terrible local housing market'? Answer: this won't be what you received at completion.

G_M

and their opinion of 'market value' may not be the same as yours.

muppetscotland

Thanks for replies. To be honest I can work out for myself what "healthy scepticism" feels like. But given how many users are on MSE, I had hoped I'd find someone with genuine first hand experience.

I am not a fool, I'm going to have my own solicitor (a family friend) involved every step of the way. But thanks anyway, it's always fun to have total strangers talk down to me.

Pixie5740

There are lots of threads already on the forum about these "quick buy" companies. You'll be lucky to find someone on MSE who has used one as it's not very MSE to just give away 5%+ of the value of your house. Less so in Scotland where the selling process is a lot swifter than that south of the border.

The reason I asked if they had made a formal offer to your solicitor is because once an offer is made in Scotland it's not so easy to backtrack. Yes they could withdraw the offer but they can't start negotiating the price down with out getting a new solicitor. You've got your own solicitor so ask them about it.

Edit: adding link

https://forums.moneysavingexpert.com/discussion/5692758

maninthestreet

They've got good reviews on reviews.co.uk, but some of the reviews read like they were written by the same person. One negative review:

"What a scam. They come out to your house, act very professional and tell you they will get a chartered surveyor to value the house. But I got a phone call telling me there underwriters valued it and that was not even 70%."

Pixie5740

I'll also add that I know you're in Aberdeen and the market isn't as hot as when oil was $100+ a barrel but things are still shifting.

theGrinch

and this is not a lease option type agreement?