Companies who sell your house quickly

Sue1966

Have any of you had any experience in these companies who state to sell your house quickly? We are desperate to sell our property to move nearer our family but we are very wary of their offers.

MattMattMattUK

Sue1966 said:

Have any of you had any experience in these companies who state to sell your house quickly? We are desperate to sell our property to move nearer our family but we are very wary of their offers.

The companies that buy immediately, offer to sell quickly do so by either buying your property themselves, or selling it at a huge discount. Eg your home might be worth £500k, they will offer you £300k, yes they will buy it quickly, but you pay a huge amount for that "benefit". The same with them selling the property, they advertise it hugely below other properties in the local area and you have to accept the hugely lower offer and if you do not they you have to pay them their commission anyway.

Sell your house the normal way, accept it will take some time. 

DullGreyGuy

Sue1966 said:

Have any of you had any experience in these companies who state to sell your house quickly? We are desperate to sell our property to move nearer our family but we are very wary of their offers.

I've had experience of dealing with a middleman in the process... they link those desperate to sell with cash buyers (and buy some themselves). 

They do what they say on the tin but it will be very much lower than the true market value, initial offer may not be but what you agree to before exchange will be. For some getting 70% of the market value in a week is better than getting 100% of it in 3 months  but it tends to be just the most desperate that will give up so much money for speed.

Albermarle

Just drop your asking price significantly to drum up some interest,  you will still most likely still end up with a better deal than dealing with these companies.

RHemmings

Things to watch out for in online reviews include: 

Having multiple options for service, and if you're not careful you can end up not selling the property to them but find you have them as an agent. 

Companies that will suddenly drop their offer just before exchange. 

I'm also of the mind that it's better to drop the price on the open market. How quickly will a property worth £500k sell for £450k? Or £400k? 

DullGreyGuy

RHemmings said:

Having multiple options for service, and if you're not careful you can end up not selling the property to them but find you have them as an agent. 

How's this a problem? The person I spoke to was a middleman, potential seller approaches them, they do initial enquiries to make sure they are serious about selling and that they'd accept £X offer, some they'd then buy themselves the others they'd stick on their second website. 

The other website is for cash buyers, they charge a monthly subscription fee with a "premium" option if you want instant access to new leads or a non-premium where you have to wait 4 hours. Cash buyers buy the "lead" for a four figure sum and get given the contact details of the seller. 

To be a cash buyer you have to prove you've funds to buy so are screened before starting your subscription. 


It's not a particularly nice market but dont see if its A or B as the cash buyer really makes any difference. 

RHemmings

DullGreyGuy said:

RHemmings said:

Having multiple options for service, and if you're not careful you can end up not selling the property to them but find you have them as an agent. 

How's this a problem? The person I spoke to was a middleman, potential seller approaches them, they do initial enquiries to make sure they are serious about selling and that they'd accept £X offer, some they'd then buy themselves the others they'd stick on their second website. 

The other website is for cash buyers, they charge a monthly subscription fee with a "premium" option if you want instant access to new leads or a non-premium where you have to wait 4 hours. Cash buyers buy the "lead" for a four figure sum and get given the contact details of the seller. 

To be a cash buyer you have to prove you've funds to buy so are screened before starting your subscription. 


It's not a particularly nice market but dont see if its A or B as the cash buyer really makes any difference. 

People who post reviews online often consider it a problem. Because, they thought they were approaching the company to get an extremely quick sale. But, then they find their chosen option puts their sale back in a 'who knows when it will sell?' timeline. Admittedly, they probably didn't read things carefully. In some cases I have seen, it's not just being marketed to known cash buyers, but ends up on the open market. 

DullGreyGuy

RHemmings said:

DullGreyGuy said:

RHemmings said:

Having multiple options for service, and if you're not careful you can end up not selling the property to them but find you have them as an agent. 

How's this a problem? The person I spoke to was a middleman, potential seller approaches them, they do initial enquiries to make sure they are serious about selling and that they'd accept £X offer, some they'd then buy themselves the others they'd stick on their second website. 

The other website is for cash buyers, they charge a monthly subscription fee with a "premium" option if you want instant access to new leads or a non-premium where you have to wait 4 hours. Cash buyers buy the "lead" for a four figure sum and get given the contact details of the seller. 

To be a cash buyer you have to prove you've funds to buy so are screened before starting your subscription. 


It's not a particularly nice market but dont see if its A or B as the cash buyer really makes any difference. 

People who post reviews online often consider it a problem. Because, they thought they were approaching the company to get an extremely quick sale. But, then they find their chosen option puts their sale back in a 'who knows when it will sell?' timeline. Admittedly, they probably didn't read things carefully. In some cases I have seen, it's not just being marketed to known cash buyers, but ends up on the open market. 

Agree if it goes on the open market then thats a different thing to what you're signing up for. Certainly this guy's buyers were all cash buyers and were committed to the time line. Using his log on to a competitors site to see how it works, very few leads went 24hrs before being bought and many were bought in hours of being listed. 

ReadySteadyPop

Sue1966 said:

Have any of you had any experience in these companies who state to sell your house quickly? We are desperate to sell our property to move nearer our family but we are very wary of their offers.

Just drop the asking price until you get offers, why pay this company a percentage to do that, or do they have a list of "motivated buyers" that they are advertising?

pinkshoes

Either sell with an estate agent at a below value price for quick sale, or sell at a traditional auction (not modern method auction).

You will get far more this way than using one of the house buying companies. 

An auction is probably your best bet as a buyer will have to exchange and complete quite quickly if your reserve is met.

GDB2222

Sue1966 said:

Have any of you had any experience in these companies who state to sell your house quickly? We are desperate to sell our property to move nearer our family but we are very wary of their offers.

I think you are right to be cautious. Most normal buyers need a mortgage, and the buying process takes around 4-6 months. 

A buyer with cash in the bank can shortcut the process. For example, they could decide not to bother with the normal searches. However, you would have to incentivise them to do that, by giving them a fantastic price. I don’t mean a few thousand off the price, but tens of thousands off the price. So, just how desperate are you?