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Cash buyers

Emilya
Emilya Posts: 3 Newbie
in House buying, renting & selling
Hi

We are trying to sell our house ASAP to purchase one we have found. We’ve been on the market for 4 months and the only possible offers have not been able to proceed. So I was wondering if anyone’s used one of these cash companies that will buy your property? Are there dangers in this?
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Comments

  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    If you only want to get about 50%-70% of what your house is worth then go for it.
  • Rambosmum
    Rambosmum Posts: 2,447 Forumite
    Part of the Furniture 1,000 Posts
    Why haven't they been able to proceed.
  • walwyn1978
    walwyn1978 Posts: 837 Forumite
    Eighth Anniversary 500 Posts
    They’ll offer below market value. But there’s no chain, so you sign up. After a few weeks, and close to agreed exchange dates, ‘problems’ will appear and the only resolution will be to drop the asking price further. And again. Essentially it’s about their percentage, no matter what lovely brochure and website you are shown. Are you desperate to sell? Consider an auction with a reserve above this.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Slithery wrote: »
    If you only want to get about 50%-70% of what your house is worth then go for it.


    Your house is worth what someone will pay for it.
  • Emilya
    Emilya Posts: 3 Newbie
    They haven’t been in a position such as still waiting to sell their own or waiting for divorce settlements
  • lewisa
    lewisa Posts: 301 Forumite
    Crashy_Time wrote: »
    Your house is worth what someone will pay for it.

    Indeed, and generally someone somewhere will be willing to pay 30-50% more than webuyanyhouse.com.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    lewisa wrote: »
    Indeed, and generally someone somewhere will be willing to pay 30-50% more than webuyanyhouse.com.


    Why is the OP considering this company then, and why is this company still in business?
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    4 months is not long. Lower the price and try again through the usual way with an estate agent.
  • lewisa
    lewisa Posts: 301 Forumite
    Crashy_Time wrote: »
    Why is the OP considering this company then, and why is this company still in business?

    You clearly have an agenda, but what the hell, I'll bite.

    Well OP has already had offers, just chains getting in the way.

    And as Cakeguts says, lower the price... a bit... and wait for another bite.

    OP wants to sell to buy another place they like, it isn't a fire sale.

    Keep dreaming Crashy. Follow Mark Carney on Twitter, he will make you feel better.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Crashy_Time wrote: »
    Why is the OP considering this company then, and why is this company still in business?
    Because he does not understand how these quick-sale companies operate.
    Because others also don't understand until they are so far down the process that withdrawing becomes increasingly difficult and costly.


    As well as the ultra low price they ultimately pay (despite early promises), they often also charge fees (eg valuation fee, admin fee whatever) so the seller becomes even more reluctant to back out later when the price drops.
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