We'll buy your house for cash - are these companies trustworthy?

Izz

Hi MSEs

We have a highly saleable house, in a 'good area' but when we put it on the market at the end of last summer we had no offers. It looks like the 'after' from a sell your house reality show. We pitched the asking price below what the agents suggested, but it's a biggish house, so will be at the end of a chain. Without first time buyers at the bottom, nothing moves. We need to move this year.

Has anyone used one of these "we'll buy your house" companies? I realise they will not pay as much as a private buyer, but how much of a hit should we expect? We have plenty of equity, so can afford to pay a reasonable amount to get a sale. Is it worth it? What should we look out for?

Thanks

LH

firesidemaid

did you get many viewers or not?

if no viewers then the price may be too high already. is it just over a stamp-duty threshold?

have you lowered the price or thought about an auction. i think those companies give you at least 20% less.

Browntoa

you are looking at about 70% of the full price, maybe even less in the current climate

m00m00

do you have a right move link to the property

that will help you get more appropriate responses

Trollfever

We have a highly saleable house,

we had no offers

Reduce the price or chase the market down.

Bf109

Izz wrote: »

We have a highly saleable house, in a 'good area' but when we put it on the market at the end of last summer we had no offers.

:rotfl: Oh stop! you're killing me!

Izz

OK, OK I get the picture!

FYI, we are just under the stamp duty limit, and we did get viewings, and good feedback - but all from people with unsold houses.

We plan to put the house back on the market in a few weeks, and will do so at a much lower price.

Zazen999

Hi
For info, one of these companies - will charge you a sum of money, survey your house from the comforts of their warm car; and tell you that they will offer about 50-60% of the market value.

Rip off merchants at best.

silvercar

Difficult situation. We had long chains in the relatively better climate of 2005-06. As the second long chain was about to collapse we stepped in and bought out the house at the other end of the chain. Don't know if that is an option for you, but you may need to be very patient or think outside the box to make the deal work.

abaxas

"We'll buy your house for cash - are these companies trustworthy?"

Ask yourself the follow question...

Gary Glitter's child minding services - are they trustworthy?

The answer is NO. Your interests are secondard to theirs, the same as ANY other business.

Izz

Thank you people. You have simply confirmed my belief that there is no such thing as a free lunch. But reading through the threads has given me some ideas about selling the house when the time comes. And if anyone is looking for a nice house in South Wales...

atb