British Homebuyers - approached me to sell my house for me - anyone have experience of them?

m33r4

My house is currently on the market with a local estate agent on a sole agency for 6 weeks and I've only had 1 viewing.
British Homebuyers sent me a letter offering to sell my house for me.
They claim to have buyers waiting, investors waiting, asked me what sort of prices local houses were up for rent, and seem very positive about getting it sold quickly.
It's a no sale no fee offer with a fee of 1.2% + VAT upon sale. 
I am live in a small town, not a big city, in Derbyshire.

I cannot find a website where British Homebuyers list houses they take up for sale.
Is British Homebuyers safe to sell with?
Is it a scam?
Where do they advertise?
What sort of service do they actually offer?
Any other useful info about them please?

Many thanks. 

TripleH

Scam, I don't think so, but I suspect you will find what your offered and what you get for your house will vary significantly.

You may find it cheaper to cut the current price and sell on open market.

Brie

Presumably the fee they might charge will be in addition to whatever you've already agreed with the EA.  

Also - do you get a say in the price they set?  What's to stop them selling the place for half the value to a customer (aka a related firm) and then reselling it at the proper price?

Brie

Ah - just googled them!  https://britishhomebuyers.co.uk/

They admit that they do the valuation and then buy the house from you.  And all their reasons for using their services seem logical - selling an inherited house, selling due to divorce or impending bankruptcy.  

It's just an more expensive version of "we buy any car" firms.

m33r4

Brie said:

Presumably the fee they might charge will be in addition to whatever you've already agreed with the EA.  

Also - do you get a say in the price they set?  What's to stop them selling the place for half the value to a customer (aka a related firm) and then reselling it at the proper price?

Good point - I will ask them that question.

Thanks. 

m33r4

Brie said:

Ah - just googled them!  https://britishhomebuyers.co.uk/

They admit that they do the valuation and then buy the house from you.  And all their reasons for using their services seem logical - selling an inherited house, selling due to divorce or impending bankruptcy.  

It's just an more expensive version of "we buy any car" firms.

Their fee is not much more than high street Estate Agents to be honest. 

They know what my house is currently being marketed for on Rightmove and I have told them if I go with them I would want to stick to that same price.

isplumm

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Why? They buy the house off you - but I suspect at a price far lower than market price - that's not a scam ...

p00hsticks

m33r4 said:

Brie said:

Ah - just googled them!  https://britishhomebuyers.co.uk/

They admit that they do the valuation and then buy the house from you.  And all their reasons for using their services seem logical - selling an inherited house, selling due to divorce or impending bankruptcy.  

It's just an more expensive version of "we buy any car" firms.

Their fee is not much more than high street Estate Agents to be honest. 

They know what my house is currently being marketed for on Rightmove and I have told them if I go with them I would want to stick to that same price.

How / why did they approach you ?

If it's because they spotted that your house was already up for sale on Rightmove be careful your existing estate agents don't demand their fee for introducing you..... 

Brie

I know that it was clear when we sold about 4 years back that the EA was clear that even if we found a buyer ourselves and they did nothing they would still get their percentage.  I would expect similar in this situation and would wonder why I'd easily give away an extra %% of the value of the property.

Andthen07

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I'm not that green to believe a consortium of investors (tyre kickers) are ready and waiting to part with their cash at full market value out of the blue.

Brie

Andthen07 said:

I'm not that green to believe a consortium of investors (tyre kickers) are ready and waiting to part with their cash at full market value out of the blue.

I agree completely with this idea but this doesn't mean it's a scam.  It just means that they are focussing on individuals who potentially may be vulnerable or desperate to sell.  As previously - no different than being offered a bad price for anything.  It's not nice but it's not stealing, it's not fraud and it's not a scam.