Cash Buyer Recommended a Solicitor

MikeJXE

Completion with a cash buyer in 2 weeks is about right I have done it myself with my own solicitor, don't use theirs. In the mean time I would suggest 3 agents to value it for you so you won't feel ripped off when you might find you could have got more. 

MellowLedbetter

Thank you all very much for the considered responses, it's very much appreciated.
  

MellowLedbetter

To those of you who have suggested selling the conventional way.

It's absolutely not off the table.

None of us are desperate for the cash. At the same time, none of us are keen to take on the hassle associated with going down that route. We have an idea of the market and this offer is not too far what we believe we could probably get anyway (thanks to probate valuations valuing the house at £5k less than 5 years ago).

It IS possible we could have a pessimistic outlook on the market, the state of the house (in need of modernising) and the state of the economy in general which means we are selling ourselves short but as I have seen elsewhere on the forum, why hold out for maximum (from an inheritance) if we get a figure we are happy with.

MikeJXE

Whatever you do it's your choice, property sales are stressful and can drag on especially if it gets in a chain. Further more selling a property is definitely NO FUN. 

user1977

MellowLedbetter said:

At the same time, none of us are keen to take on the hassle associated with going down that route. We have an idea of the market and this offer is not too far what we believe we could probably get anyway (thanks to probate valuations valuing the house at £5k less than 5 years ago)

As I said, their business model means what they're offering is almost certainly significantly less than they would reasonably expect to quickly sell the property for themselves - they'll need a big enough margin to cover their costs and make a profit on top.

What's the extra "hassle" you think is involved in just letting an agent market it? Yes, it may well take longer to get to a completion date, but how many thousands do you want to spend on having the cash a bit faster?

steampowered

You definitely want to use a proper independent solicitor if you are buying.

It's not as important when you are selling. 

Ath_Wat

MellowLedbetter said:

To those of you who have suggested selling the conventional way.

It's absolutely not off the table.

None of us are desperate for the cash. At the same time, none of us are keen to take on the hassle associated with going down that route. We have an idea of the market and this offer is not too far what we believe we could probably get anyway (thanks to probate valuations valuing the house at £5k less than 5 years ago).

It IS possible we could have a pessimistic outlook on the market, the state of the house (in need of modernising) and the state of the economy in general which means we are selling ourselves short but as I have seen elsewhere on the forum, why hold out for maximum (from an inheritance) if we get a figure we are happy with.

It's not about holding out for maximum, they will drop the offer later on.  They have to get it at a price where they can easily flip it on and make a significant profit, or it's not worth their while.  They can't pay you close to what it is worth and have a sustainable business.

diystarter7

theartfullodger said:

Avoid these ++gy people, v v likely the price mysteriously will be reduced and reduced as completion nears.

You are having a larf? How can the buyers reduced the price once the exchange of contracts has taken place!

You can only near completion once exchange has taken place and at that time, it is good as done and dusted,

Don't take my word for it look it up..

user1977

diystarter7 said:

theartfullodger said:

Avoid these ++gy people, v v likely the price mysteriously will be reduced and reduced as completion nears.

How can the buyers reduced the price once the exchange of contracts has taken place!

They don't. They do it before exchange.

babyblade41

Don't use these people , there are a very few reasons why people would use this type of company & from your OP you don't fall anywhere near this category.


Go the normal route with 3 agents valuing , this shouldn't be stressful as you aren't buying & selling, in a chain & emotionally invested in your next home.

Their normal MO is to keep you sweet then want simultaneous exchange & complete then drop the price drastically  on the morning of the transaction day 


Check comparable price properties (price sold not for sale) then probably drop a percentage to make it attractive for a quick sale and the  small downturn at the min

Maybe arrange  an open day rather than individual viewings 

Without re-reading OP, I take it all probate procedures have now been done ?