Frustrating house sale.

G_M

Concerned75 wrote: »

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I have gone with a company that arranges a quick sale and is supposed to have cash buyers or developers on their books.
They also have a window on the open market to people who can't buy outright, but have been "vetted and have a mortgage in place/principle"
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The property management's 'brand' is completion within 4-8 weeks, not 10week+ and still counting.
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This is the crux of your problem. The so-called 'quick sale' companies are

a) only quick if they themselves actually find a buyer quickly - which they often don't, and
b) never pay anywhere near market value

The property management does not care how long it takes, as long as in the end they get their (huge) cut of the very low sale price.

Have you paid them any upfront fees? eg for a valuation? Or admin charge? Or....? If yes, you will be understandably reluctant to walk away (that's why they charge these fees!).

But the best advice is to walk away and sell in the conventional manner. Even by selling a bit below market value for a quicker sale you'll get more than via the so-called 'quick sale company'!

If ongoing finance is an issue, SPEAK TO YOUR MORTGAGE LENDER IMMEDIATELY.

[Deleted User]

May I just add that the length of time house purchases/sales take these days has actually increased a lot, generally though.


In the last couple of years i was selling in a chain whereby I was buying an empty property, my own buyer was cash (no mortgage required to buy mine), and the whole process took six and a half months - I was convinced this was unusually long but solicitors and agents both told me it wasn't and that it was infact quite normal.
There were no complicated reasons for the delay.


I think the days of quick housing transactions are fewer and further between, sadly.

RubyHouse

I would let them know you have made an appointment with an EA to arrange to sell conventionally and you will list the property unless they set an exchange date within 10 days.

I myself am buying my first house, the house we are buying is empty, we got our mortgage offer approved and survey completed within 3 weeks, yet we are now on week 10 as there are numerous queries.
My point here is, they have taken this long to complete the application form, whats to say you wont be in the same position in another 10 weeks?
Have they had their survey done? Have you answered all queries and ensured they are passed immediately to the buyers solicitor?

Concerned75

The buyer didn't have a survey done. Im not sure about a valuation, as these days, they don't need to go to the property to do this, I was informed.
Anyway, fingers crossed is an update to complete a week Friday. We have exchanged contracts and I hope from now on in, the rest of this goes smoothly and I can get on with leaving this experience behind me.