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    • Emilya
    • By Emilya 14th Sep 18, 7:31 PM
    • 3Posts
    • 0Thanks
    Emilya
    Cash buyers
    • #1
    • 14th Sep 18, 7:31 PM
    Cash buyers 14th Sep 18 at 7:31 PM
    Hi

    We are trying to sell our house ASAP to purchase one we have found. We’ve been on the market for 4 months and the only possible offers have not been able to proceed. So I was wondering if anyone’s used one of these cash companies that will buy your property? Are there dangers in this?
Page 1
    • Slithery
    • By Slithery 14th Sep 18, 7:41 PM
    • 972 Posts
    • 1,559 Thanks
    Slithery
    • #2
    • 14th Sep 18, 7:41 PM
    • #2
    • 14th Sep 18, 7:41 PM
    If you only want to get about 50%-70% of what your house is worth then go for it.
    • Rambosmum
    • By Rambosmum 14th Sep 18, 7:48 PM
    • 1,941 Posts
    • 2,442 Thanks
    Rambosmum
    • #3
    • 14th Sep 18, 7:48 PM
    • #3
    • 14th Sep 18, 7:48 PM
    Why haven't they been able to proceed.
    • walwyn1978
    • By walwyn1978 14th Sep 18, 7:48 PM
    • 535 Posts
    • 499 Thanks
    walwyn1978
    • #4
    • 14th Sep 18, 7:48 PM
    • #4
    • 14th Sep 18, 7:48 PM
    They’ll offer below market value. But there’s no chain, so you sign up. After a few weeks, and close to agreed exchange dates, ‘problems’ will appear and the only resolution will be to drop the asking price further. And again. Essentially it’s about their percentage, no matter what lovely brochure and website you are shown. Are you desperate to sell? Consider an auction with a reserve above this.
    • Crashy Time
    • By Crashy Time 14th Sep 18, 7:50 PM
    • 6,814 Posts
    • 2,511 Thanks
    Crashy Time
    • #5
    • 14th Sep 18, 7:50 PM
    • #5
    • 14th Sep 18, 7:50 PM
    If you only want to get about 50%-70% of what your house is worth then go for it.
    Originally posted by Slithery

    Your house is worth what someone will pay for it.
    • Emilya
    • By Emilya 14th Sep 18, 8:01 PM
    • 3 Posts
    • 0 Thanks
    Emilya
    • #6
    • 14th Sep 18, 8:01 PM
    • #6
    • 14th Sep 18, 8:01 PM
    They haven’t been in a position such as still waiting to sell their own or waiting for divorce settlements
    • lewisa
    • By lewisa 14th Sep 18, 8:19 PM
    • 246 Posts
    • 366 Thanks
    lewisa
    • #7
    • 14th Sep 18, 8:19 PM
    • #7
    • 14th Sep 18, 8:19 PM
    Your house is worth what someone will pay for it.
    Originally posted by Crashy Time
    Indeed, and generally someone somewhere will be willing to pay 30-50% more than webuyanyhouse.com.
    • Crashy Time
    • By Crashy Time 14th Sep 18, 9:57 PM
    • 6,814 Posts
    • 2,511 Thanks
    Crashy Time
    • #8
    • 14th Sep 18, 9:57 PM
    • #8
    • 14th Sep 18, 9:57 PM
    Indeed, and generally someone somewhere will be willing to pay 30-50% more than webuyanyhouse.com.
    Originally posted by lewisa

    Why is the OP considering this company then, and why is this company still in business?
    • Cakeguts
    • By Cakeguts 14th Sep 18, 10:16 PM
    • 5,221 Posts
    • 7,914 Thanks
    Cakeguts
    • #9
    • 14th Sep 18, 10:16 PM
    • #9
    • 14th Sep 18, 10:16 PM
    4 months is not long. Lower the price and try again through the usual way with an estate agent.
    • lewisa
    • By lewisa 14th Sep 18, 10:28 PM
    • 246 Posts
    • 366 Thanks
    lewisa
    Why is the OP considering this company then, and why is this company still in business?
    Originally posted by Crashy Time
    You clearly have an agenda, but what the hell, I'll bite.

    Well OP has already had offers, just chains getting in the way.

    And as Cakeguts says, lower the price... a bit... and wait for another bite.

    OP wants to sell to buy another place they like, it isn't a fire sale.

    Keep dreaming Crashy. Follow Mark Carney on Twitter, he will make you feel better.
    • G_M
    • By G_M 15th Sep 18, 5:34 AM
    • 45,887 Posts
    • 55,391 Thanks
    G_M
    Why is the OP considering this company then, and why is this company still in business?
    Originally posted by Crashy Time
    Because he does not understand how these quick-sale companies operate.
    Because others also don't understand until they are so far down the process that withdrawing becomes increasingly difficult and costly.


    As well as the ultra low price they ultimately pay (despite early promises), they often also charge fees (eg valuation fee, admin fee whatever) so the seller becomes even more reluctant to back out later when the price drops.
    • wavelets
    • By wavelets 15th Sep 18, 6:56 AM
    • 558 Posts
    • 244 Thanks
    wavelets
    Why is the OP considering this company then, ...
    Originally posted by Crashy Time
    As already explained by the OP

    Hi

    We are trying to sell our house ASAP ...
    Originally posted by Emilya
    and why is this company still in business?
    Originally posted by Crashy Time
    They provide a service that suit the requirements of some with specific needs ... and may also entrap some of the unwary.

    With large, easy profits available for the taking, they don't need many successful purchases to consider they have a viable business
    • Davesnave
    • By Davesnave 15th Sep 18, 7:25 AM
    • 26,634 Posts
    • 96,027 Thanks
    Davesnave
    Crashy knows the answers better than most ; he's just using the thread and asking naive questions in the belief it furthers his agenda.

    However, I'm not sure that it does, other than imply that a house none of us knows is on sale at a price which hasn't so far generated a quick enough sale for the purposes of the person selling.
    A garden is never so good as it will be next year....
    • diggingdude
    • By diggingdude 15th Sep 18, 1:07 PM
    • 429 Posts
    • 580 Thanks
    diggingdude
    To be fair to Crashy, I asked him last Saturday's lottery numbers yesterday and he got most of them right
    House Deposit - Target £20000 April 2019
    Current Savings - £10225 13121.22 £14621.22 £16021 £17296£15171 £15971
    • kinger101
    • By kinger101 15th Sep 18, 1:14 PM
    • 4,489 Posts
    • 6,228 Thanks
    kinger101
    Others have already point out that these companies are nasty. Better options for a quick sale are.

    (a) market at a more realistic price
    (b) auction
    • Emilya
    • By Emilya 15th Sep 18, 7:54 PM
    • 3 Posts
    • 0 Thanks
    Emilya
    OK so to give more background to this, we started at 170,000 for a two bed terraced house in virtually the city centre of Worcester opposite Worcester racecourse and a Park with easy access to the river for long walks, I can be in the city centre in a 10 min walk... the house is finished to a high standard being recently redecorated in neutral colours with modern furnishings and a new kitchen, bathroom and ensuite... every estate agent we have spoken to has agreed the house is in excellent condition and very well decorated and designed. We dropped our asking price to 165,000 in August to try to get a quick sale ( a two bedroom house two doors down has gone up for sale at 160,000 and is nowhere near as nicely done as ours and many houses in this area of this type are priced between 170-180,000 so I don’t beleive the price is the issue and we have and still are getting interest and plenty of viewings it’s just nobody seems to be at the right time to offer ( most are trying to sell their own properties) so what I need advice on is yes I know I could wait longer and be more patient but we are desperate to purchase a certain house so is it safe / legitimate to use these cash buyers or are they more hassle then they are worth and will end up costing a hell of a lot more? And for interests sake it’s actually yellow springbok we are considering not webuyanyhouse.com
    • davidmcn
    • By davidmcn 15th Sep 18, 8:01 PM
    • 9,075 Posts
    • 9,662 Thanks
    davidmcn
    You're likely to be chucking away a vast amount of money by doing it that way. They're only interested in buying something they can sell quickly. Which means selling at a cheap price. So to cover all their costs and make a profit, they need to buy from you at even cheaper than cheap. They're only for those who are genuinely desperate, not merely impatient.

    Sell first before you start falling in love with your future house.
    • jonnygee2
    • By jonnygee2 15th Sep 18, 8:10 PM
    • 444 Posts
    • 444 Thanks
    jonnygee2
    so is it safe / legitimate to use these cash buyers or are they more hassle then they are worth and will end up costing a hell of a lot more?
    This question has already been answered above several times by people above, who have explained how these companies work and why you shouldnt use them. How many times would you like people to rewrite the same advice out for you?
    • Crashy Time
    • By Crashy Time 15th Sep 18, 8:21 PM
    • 6,814 Posts
    • 2,511 Thanks
    Crashy Time
    You clearly have an agenda, but what the hell, I'll bite.

    Well OP has already had offers, just chains getting in the way.

    And as Cakeguts says, lower the price... a bit... and wait for another bite.

    OP wants to sell to buy another place they like, it isn't a fire sale.

    Keep dreaming Crashy. Follow Mark Carney on Twitter, he will make you feel better.
    Originally posted by lewisa

    Reading between your lines - Chains are collapsing because people won`t lower their price and banks won`t lend their price, the OP is asking too much for their house but needs X amount because the next house is also over-priced, a certain bank have run out of props (or don`t want to use them any more because many voters now want lower house prices) and are just getting ahead of the inevitable bubble pop by saying that it could happen? I won`t bother with twitter the endless stream of house price crash headlines in the MSM now are enough thanks
    • Cakeguts
    • By Cakeguts 15th Sep 18, 8:27 PM
    • 5,221 Posts
    • 7,914 Thanks
    Cakeguts
    OK so to give more background to this, we started at 170,000 for a two bed terraced house in virtually the city centre of Worcester opposite Worcester racecourse and a Park with easy access to the river for long walks, I can be in the city centre in a 10 min walk... the house is finished to a high standard being recently redecorated in neutral colours with modern furnishings and a new kitchen, bathroom and ensuite... every estate agent we have spoken to has agreed the house is in excellent condition and very well decorated and designed. We dropped our asking price to 165,000 in August to try to get a quick sale ( a two bedroom house two doors down has gone up for sale at 160,000 and is nowhere near as nicely done as ours and many houses in this area of this type are priced between 170-180,000 so I don’t beleive the price is the issue and we have and still are getting interest and plenty of viewings it’s just nobody seems to be at the right time to offer ( most are trying to sell their own properties) so what I need advice on is yes I know I could wait longer and be more patient but we are desperate to purchase a certain house so is it safe / legitimate to use these cash buyers or are they more hassle then they are worth and will end up costing a hell of a lot more? And for interests sake it’s actually yellow springbok we are considering not webuyanyhouse.com
    Originally posted by Emilya

    Forget how much other properties are priced for if they haven't sold I had a quick look on Rightmove and the vast majority of the 2 bed houses that are marked sold were priced at £150k. This suggests that your marketing price is £15k too high. It took me roughly 5 minutes to work that out how long do you think it will take the cash for houses company to find that out?



    The cash for houses company is not going to offer you more for it than they can sell it for. My researches say that £165k is too much so if they are offering cash they will offer much lower than that.

    If they can only sell it for around £150k and they have to make a profit they will offer you a lot lower than £150k.


    If you are happy to accept less than £150k from a cash for houses company why are you not happy to accept it from a normal buyer. You will probably get more from a normal buyer.
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