Cash for homes companies

jenny_f

Yes I know it will mean I get a low valuation but I’m keen to hear any first had experiences of these.

Was the sale as quick as they said?
Was the valuation what they said or did they try to lower it later?

Which company did you use?

TIA

ThePants999

No direct experience, but I've heard many anecdotal reports of these companies reducing their offer at the last minute.

marliepanda

Again anecdotal, but they usually offer a !!!8216;low but not upsettingly low!!!8217; offer at first.

Then once you!!!8217;re fairly fair down the line the offer gets dropped again, usually when people are too committed to their onward move to want to drop out.

hazyjo

Try auction, or reduce to a low (or even sensible) price with an EA.


Would never recommend a 'buy your house for cash' type company.

PokerPlayer111

Their whole business model will be built on getting your home for cheaper than you could sell it on the market.

eddddy

Perhaps the big problem is that people don't read and understand every single term in the contracts that the house buying company asks them to sign.

There are often shocking terms in contracts which are later used to shaft the property owner.

If you really want to use one of these companies, don't sign anything until it has all been checked by a solicitor.


You hear stories of these companies telling property owners to sign things like 'irrevocable options to purchase' - with no legal advice, and no real understanding of what they're signing. It's really shocking.

ReadingTim

jenny_f wrote: »

Yes I know it will mean I get a low valuation but I!!!8217;m keen to hear any first had experiences of these.

So in other words you know it's a bad idea but still want to go ahead anyway...

Why?

davidmcn

This question is asked here every week or so, so search for previous threads - but the answer is invariably the same.

Gwendo40

I can't even begin to understand why anyone would even consider needing to use one of these companies in the current market.
Any house in any part of the country will sell very quickly and easily if it's even vaguely sensibly priced, the only houses hanging around for any length of time are the stupidly overpriced ones.

00ec25

you will find this question has been asked loads of times. I cannot recall any responses from people who have actual personal experience of having used these companies,

but lots of comments from people saying the very obvious: you can do better by not using them at all.

here are 3 such threads at random via the search function:

https://forums.moneysavingexpert.com/discussion/5677140/selling-house-quickly&highlight=quick+sale+company

https://forums.moneysavingexpert.com/discussion/5767656/selling-house-for-quick-cash&highlight=quick+sale+company

https://forums.moneysavingexpert.com/discussion/5737472/british-home-sellers&highlight=quick+sale+company

YoungBlueEyes

Not first hand experience, but the neighbour of one of my dogwalking gang sold her house with one of those companies.

In the end she got just over 1/3 of the original valuation. If I remember rightly it was quick though, less than a month from start to finish.