Selling fast?

Markus251

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Keep_pedalling

You will be chucking away many thousands selling to a we buy any house outfit.

twopenny

I'd go with a local agent that's easy to keep in touch with and market the house at a bit lower than expected price.

But get it in sound condition and spotlessly clean. In the south west there are lots of houses on the market at the moment. Mostly people have some crazy ideas as to what they are worth. Been watching too much TV.

If it's been a rental house you're looking at get a good survey. We have them for sale around here and there are major problems that aren't visible. Sales keep falling through once the survey has been done. Having said that the slow to sell which means you should be able to get it for a good price.

sheenas

We it’s an issue looking at house when your not ready. Just got yourself in to a bad situation of finding something and not being able to act. Patience costs nothing my mother always said. The estate agent route will take slightly longer but you are not giving away £20k. Surely you want to sell to someone who will appreciate the renovation work you have done.

BikingBud

https://forums.moneysavingexpert.com/discussion/comment/82000681#Comment_82000681

But if it enables the purchase of their dream, forever home is it a cost to bear.

People routinely over bid to ensure they get the house they want as it has a value to them, in fact all house purchase is about personal value, I don't see this as any different?

A business transaction has costs, are those costs worth it?

Only the OP can see the cost and decide upon the value but we should also consider the actual benefit of putting lots of money into a probate house where they might incur CGT. And also the activity to improve their current house before sale, both of these actions have incurred avoidable costs over just selling the houses, especially the probate house as was, and having the ability to move quickly.

elsien

But is there not an issue with these companies dropping the price again at the last minute? So potentially a double whammy.

Jemma01

Why not buy the house with 160k deposit, get a tracker mortgage, and when the house is sold, pay it off in one go?

Agent route of course.

FreeBear

If you want a quick sale, put the property in a traditional auction (do NOT use a modern method of auction). The webuyany[wotever] companies generally have a bad rap - Just look up reviews on Trustpilot but take the 5* comments with a big pinch of salt. Oh, and these companies will threaten legal action to silence negative comments from time to time.

Albermarle

OP - Yours is a regular question on this forum. Not all these 'we buy any house for cash' companies are the same.

For example some actually do buy your house from you, but many just seem to try and find a buyer for your home. If they are not successful, you are back at square one as there will be some get out clause in the T's & C's.

Also on top of the agreed low price, some of the dodgier ones seem to have a habit of dropping the price further just before exchange of contracts.

The usual advice is to go the traditional estate agent route with a keen price, if you want to sell quickly. You can instruct the agent only to deal with buyers with very solid finances in place and who are not in a chain, or only in a very short one.

Alternatively you can try a traditional auction, but normally they are more suitable for properties with problems.

Markus251

OK, from what I keep reading about the 'webuyanyhome' type sites, there are far more negatives than positives. The house we're selling is kind of money we never had so to enable our dream move to the place we want to be, we are prepared to sell for way less than market value. The house is worth approx 185k, we would sell for as low as 135k for the house we have seen.

What is the general thought of Bridging Loans? Something I've just stumbled across and from what I've read so far, a way to get funds fast and then we'd be able to sell the house for a better price, pay off the loan and have a bit of cash left over.

I did try and apply for a mortgage, just using natwest site for an idea. They came back and said most that would be offered us 105k so not enough for us.

Albermarle

Apart from the high interest rate on bridging loans, the main danger is that your planned buying and selling process hits a big hitch and you are potentially stuck with an expensive loan for a lot longer than anticipated.

 The house is worth approx 185k, we would sell for as low as 135k for the house we have seen.

If the asking price is too low, buyers will assume there is some hidden problem. For a house that is worth £185K, even an asking price of £175K would probably generate plenty of interest. You could speak to some local estate agents - if they know you want a quick sale and are willing to agree to a lowish price, they may well have some contacts who would be interested straightaway. Just don't tell them you can go down to £135K !!