Selling a home by a cash buy site?

scrumpie

We have looked into the 'we buy any home' type companies to help sell a property we no longer live in but need to get sold ASAP re finances. Are their any reputable companies out their that will not screw us over. Any help gratefully received.

hazyjo

Try searching the site as it gets mentioned a lot.

Just drop the price instead.

These sort of companies will offer you a very low price, and are very likely to reduce it just before exchange.

letsbetfair

I don't know of any with a good reputation. Many will reduce their offer just before exchange, or try to land you with fees, or various other shady practices. If you need a quick sale on a fixed timescale, put it up for auction. If you've got a bit more time, you might get a better price by advertising through an estate agent at a low price and see if there's a bidding war...

SpiderLegs

scrumpie said:

We have looked into the 'we buy any home' type companies to help sell a property we no longer live in but need to get sold ASAP re finances. Are their any reputable companies out their that will not screw us over. Any help gratefully received.

No there aren’t.

NameUnavailable

Put it up for auction. You set the reserve price and can also put conditions in the terms of sale such as the buyer has to pay an amount towards legal and selling fees. When the hammer falls your property is sold and contracts exchanged with completion usually 4 weeks later but again, you can stipulate a shorter time if you wanted to.

Avoid 'modern method' auctions which seem to be a great way of deterring buyers.

Davesnave

A house that's priced attractively will sell quickly.

No, of course you won't find a company that will buy your house for anywhere near as much as you'd achieve selling it yourself. Where on earth would their profit come from?

To be blunt, if you are in a financial hole, don't expect any commercial business to dig you out of it cheaply; that's not why they exist.

AnotherJoe

As per NameUnavailable, just sell it at auction. You'll probably get less than if you sold "normally" as it will likely  rule out buyers who need a mortgage,  but everything else will be  straightforward  (as long as you don't us a "modern method" auction company). 

AnotherJoe

Davesnave said:

A house that's priced attractively will sell quickly. 

Niot necessarily true. You may find a buyer quickly but then you are still into the shenanigans of delays and disappointments caused by chains, searches and all the drama that goes along with house buying and selling normally. 

Other than auction OP could also set a low price and specify cash buyers only. I've seen that on EA listings. 

Davesnave

AnotherJoe said:

Davesnave said:

A house that's priced attractively will sell quickly. 

Niot necessarily true. You may find a buyer quickly but then you are still into the shenanigans of delays and disappointments caused by chains, searches and all the drama that goes along with house buying and selling normally. 

Other than auction OP could also set a low price and specify cash buyers only. I've seen that on EA listings. 

I didn't specify the detail, but having bought the property I'm in now by being a real cash buyer, able to move fast, I know that EAs will specify that, or do appropriate 'weeding.'

There was a queue for this house by the time the inaccurate deeds were sorted out, but they were not my problem! Anyone wanting to sell quickly should check those basics are in order too.

GDB2222

An auction sale is certain, because exchange of contracts takes place when the hammer falls. But it’s not all that quick. The auctions take place monthly, and there’s a lead time for the auction house to look over your property and stick it in the auction catalogue. On average, it’s around 3 months from deciding to auction it to actually getting the money.

A quick standard sale to a local buyer with cash is likely to be quicker and may get you more money. Or, better still, drop your price and sell to one of the queue of end users who will suddenly appear. 

All the buy it now company does is buy very cheaply so they can sell it on.

trex227

I used to work at a solicitors that dealt with a lot of buyers from a quick buy company. Although they didn’t seem to reduce the price at the last minute as some people have said they do, from other regular sales in the same area I would say they were offering 75% of market value. But they were quick- I knew transactions that completed in less than a week.
As others have said, sell through an estate agent making sure only genuine cash buyers that can complete quick can view.