distressed house selling

RAS

A little explanation would help.

Leasehold or freehold?

Do you have a mortgage? Are you actively engaging with them. Even if you can't afford the repayments they will usually hold off if you are actively selling. What price would you need to cover the mortgage plus sale costs.

Do you need to move abroad? If so, appoint your solicitor (rather than conveyancer) as attorney so they can sign on your behalf.

FlorayG

Most of the 'we buy any house' companies don't actually buy your house I believe - they market it and when it's sold to a final buyer they give you your share of the money

stuart45

It's worth talking to a few agents. They normally have people looking to buy this kind of property. I know one who's in with a solicitor, who is also a flipper. He offers to buy the property and do all the legal work for you, and often completes in a week. Obviously you are going to take a hit, but try not to sound too desperate to sell. Start off just saying you are looking to sell.

Albermarle

Grumpy_chap said:

AIUI, the house buying companies often try to simply "flip" the property so that they complete on your purchase the same day they complete on a sale to the next owner (in return benefitting from the profit).  I assume they must advertise the house on the regular channels to find that "next owner" without needing to actually commit finance to the property.

As others have suggested, auction (traditional) is an option and / or list via a regular EA on a "priced to sell" basis.

Presumably they will have a lot of contacts in the market, with buyers waiting in the wings, especially if the price is right.
I think some will buy the property from you for cash, if they can not find a buyer within a reasonable space of time, but the process could drag on with some of them I guess. 
I think probably the OP would have to get firm clarity on maximum time scale in writing, otherwise if it takes weeks it is pointless going down this route.
Otherwise I agree with others that dropping in to local estate agents, saying you are willing to accept a price below the market price, could generate some rapid interest.

GDB2222

Albermarle said:

Grumpy_chap said:

AIUI, the house buying companies often try to simply "flip" the property so that they complete on your purchase the same day they complete on a sale to the next owner (in return benefitting from the profit).  I assume they must advertise the house on the regular channels to find that "next owner" without needing to actually commit finance to the property.

As others have suggested, auction (traditional) is an option and / or list via a regular EA on a "priced to sell" basis.

Presumably they will have a lot of contacts in the market, with buyers waiting in the wings, especially if the price is right.
I think some will buy the property from you for cash, if they can not find a buyer within a reasonable space of time, but the process could drag on with some of them I guess. 
I think probably the OP would have to get firm clarity on maximum time scale in writing, otherwise if it takes weeks it is pointless going down this route.
Otherwise I agree with others that dropping in to local estate agents, saying you are willing to accept a price below the market price, could generate some rapid interest.

Just to clarify: Anyone looking to flip this property will be looking to buy it at a big discount, as they have some major expenses. For example:

SDLT:  4% say
Agent fee for introducing the OP: 1-2%
Agent fee for selling the property: 1-2%
Discount so they can sell it quickly: 5% say
Legal fees: 1% say

Plus all the costs of insurance, maintenance and council tax on an empty property. 

So, if someone buys it from the OP at say a 25% discount, they may 'only' be making a 10% profit on the deal. That's not a bad profit, but the return on the FTSE 100 index over the last year has been around 20%, and that's an awful less bother.

Of course, ideally what the OP wants is an end user, looking to buy his home, and with enough cash in the bank to do so. But, let's get back to reality. 

theartfullodger

Distressed meaning your distress or is the property that is distressed?  My late British died , house in Sale very very tatty, hardly touched since he bought it 1971 - we hardly touched it other than servicing boiler to make work.  I'd never go near a we-buy-any bunch of c****s.


Sold via local agent but we weren't in a hurry.

Good luck!