Cash Buyers 11 January 2020 at 9:45PM edited 30 November -1 at 12:00AM in House Buying, Renting & Selling 48 replies 2.7K views

davidmcn

Carl2510 wrote: »

Would it make sense then to get an estate agent to value my home, and then just see what the quick sale people would actually offer?

If you want a laugh, why not. But I can't see it's a worthwhile use of anybody's time. They're not going to offer anywhere near what a "normal" buyer would. And it really doesn't sound like you even need a particularly quick sale.

Carl2510

The house I have is owned by me and my brother, he’s had a baby so we are just wanting to go are separate ways. And I’m now wanting to move in with my girlfriend as well so that is the reason for a quick sale.

G_M

Carl2510 wrote: »

Would it make sense then to get an estate agent to value my home, and then just see what the quick sale people would actually offer?

But as has been explained already, the price they initially offer is almost certainly not the price they will end up offering you.


The initial price will be to encourage you to sign up with them. Then after some delays, and perhaps after you've paid some fees, they will lower the price but you will feelcommitted by then.


These people are in it as a business, to make a profit, and they are experienced at 'sales' techniques and how to draw you in.


Selling via an estate agent you are selling to .... people like you and me who just want a home to live in, and who (generally!) won't mess you around, and will pay a fair price. Yes, it might take a bit longer, and yes, you might pay a modest amount extra on your mortgage, but you'll make much more on the sale price.

Carl2510

G_M thank you for your honesty, I think I’m going to go down the estate agent route, figure out what the fees are if I leave my term early, and get it up around summer time give it time on the market to hopefully sell. And if not speak to my mortgage advisor and if I can go into another fixed term but maybe with no penalty to leave.

ckj

I sold my house to a cash buyer and got a great deal as i wanted to sell quick, but be careful alot of the quick sale websites will give you an offer straightaway without even seeing your property (how is this even possible! And the offers are awful
I managed to get hold of an investor who visited my house and did a full review before making me an offer and although it was less than market value I didnt do too bad compared to the other offers id had.
I can send you his details he buys all over the uk.

Carl2510

Yes if you could please that would be great.

Also does anyone think if I give a certain date I’d want to move out does that put a lot of people off buying the house?

The_Earl_of_Streatham

Yes if you could please that would be great.

Selling to friend of a stranger on the internet isn't the best strategy.

You need to examine why you want so desperately to sell your house for less than it's worth to the market at large. You have the advantages of time and somewhere else to go, just sell it in the normal way.

Or if you're determined to lose the value of the place to a stranger, I'll give you a tenner if you undertake to complete with vacant possession within a year. Given your desire to lose money on the transaction this should amply satisfy your needs.

Or you could list it with an estate agent. For all their faults, they will at least try to get the best price for your house, an outcome which you appear anxious to avoid. There are occasions when trying to execute a cunning plan isn't as good as doing the obvious thing.

kangoora

If you have a £100k mortgage at variable at 4.5% its around £550/month

If you have a discounted £100k mortgage at 2% its around £424/month

If you sell 8 months after you go onto variable rate it's going to cost you £1k more. As opposed to selling to one of these discount places (or even an auction) where you will probably get 20% less than value.

Assuming your place is worth £150k you'll lose £30k (20%) for a quick sale.

Which is better, losing £1k or losing £30k?

Substitute your actual values in to the above

Carl2510

I get what your saying, but there is no harm in seeing what they will offer compared to what the estate agent will put it up as.

I am pushing towards the estate agent now from everyone’s advice.

GDB2222

Carl2510 wrote: »

I get what your saying, but there is no harm in seeing what they will offer compared to what the estate agent will put it up as.

I am pushing towards the estate agent now from everyone’s advice.

Indeed. Do report back.