Selling house fast

davidmcn

Mickygg wrote: »

A lot of people say this but has anyone actually experienced this?

Similar questions come up every few days here, so some searching of previous threads would probably provide the answer. I have certainly read first-hand experiences of such tactics. After all, why wouldn't they? They've got sellers who are already desperate, so after stringing them along for a few weeks they'd probably get away with dropping the price.

AdrianC

eddddy wrote: »

"Fast sale" companies don't really have a magic wand they can wave to make somebody buy your house quickly at a high price.

^ THIS

Just pause and think about what the "fast sale" companies do. They buy your house. They then resell the house. And, out of that, they make a profit - after paying all their operating costs, taxes, etc etc...

This, alone, tells you how much they'll pay for your house.

trex227

Mickygg wrote: »

A lot of people say this but has anyone actually experienced this?

I used to work for a legal firm that dealt with a lot of sellers that were selling to one of these types of firms. Most went through without any price reduction from what was initially agreed (one example of where they wouldn't pay what was initially agreed is when their inspection/survey turned up there was a LOT of asbestos in the common areas of the flat. I saw photos and it was in very very bad condition so almost certain to result in a massive major works bill).


However I would estimate that the quick sale company was only paying 60%-75% of the actual market value given what similar properties were being sold for at the same time on the open market.


You would have to be in a dire financial situation to resort to a quick sale company, although granted some transactions went through very quickly- I seem to recall one being completed in 3 days.

MrsPorridge

Cant speak for the house, but needed to get rid of a car quickly for various reasons - used we buy any car dot com. Given a really high quote of almost £4k - when they checked the car they knocked so much off, we ended up with just under £1k. Will never do it again, but at the time they had us over a barrell.

letitbe90

First, take a deep breath.

Second, do NOT be tempted by any quick sale options which will leave you financially worse off.

Third, there will be many dream homes to come. It may not feel like it, but so many people have given stories where they couldn't get their dream home - but then they found a better one later.

Just carry on as normal, don't show desperation and hope your next buyer doesn't pull out. If you get your dream home, great, if not, it really isn't the end of the world. It is very easy to get all rose-tinted during the house buying and selling process and we end up thinking with our hearts instead of our heads.

lookstraightahead

Just carry on as normal. It really is just a house. If it works out great, if not it wasn't for you.

Crashy_Time

letitbe90 wrote: »

First, take a deep breath.

Second, do NOT be tempted by any quick sale options which will leave you financially worse off.

Third, there will be many dream homes to come. It may not feel like it, but so many people have given stories where they couldn't get their dream home - but then they found a better one later.

Just carry on as normal, don't show desperation and hope your next buyer doesn't pull out. If you get your dream home, great, if not, it really isn't the end of the world. It is very easy to get all rose-tinted during the house buying and selling process and we end up thinking with our hearts instead of our heads.

Yep, and this was exploited to the full by money lenders and media as people were brainwashed into thinking that basic shelter should be really expensive. Just think, if housing was affordable these quick sale companies wouldn`t exist!