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    • Carl2510
    • By Carl2510 11th Jan 20, 9:45 PM
    • 82Posts
    • 4Thanks
    Carl2510
    Cash Buyers
    • #1
    • 11th Jan 20, 9:45 PM
    Cash Buyers 11th Jan 20 at 9:45 PM
    Good evening,

    Does anyone have any experience with Cash Buyers, been looking at selling my house fast when Im ready to sell and just wondering if there actually legit, do they offer good valuations, had anyone any experience with these types of buyers.

    Any info would be greatly appreciated.
Page 2
    • Carl2510
    • By Carl2510 11th Jan 20, 10:49 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    Would it make sense then to get an estate agent to value my home, and then just see what the quick sale people would actually offer? But I appreciate all the advice, it probably would be better if I get it up for sale in the summer obviously a quick sale is better and maybe worth the fees to get out of the mortgage than lose on the quick sale from th cash buyers.
    • davidmcn
    • By davidmcn 11th Jan 20, 10:52 PM
    • 14,385 Posts
    • 16,806 Thanks
    davidmcn
    Would it make sense then to get an estate agent to value my home, and then just see what the quick sale people would actually offer?
    Originally posted by Carl2510
    If you want a laugh, why not. But I can't see it's a worthwhile use of anybody's time. They're not going to offer anywhere near what a "normal" buyer would. And it really doesn't sound like you even need a particularly quick sale.
    • Carl2510
    • By Carl2510 11th Jan 20, 10:55 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    The house I have is owned by me and my brother, he’s had a baby so we are just wanting to go are separate ways. And I’m now wanting to move in with my girlfriend as well so that is the reason for a quick sale.
    • G_M
    • By G_M 11th Jan 20, 11:18 PM
    • 51,150 Posts
    • 64,155 Thanks
    G_M
    Would it make sense then to get an estate agent to value my home, and then just see what the quick sale people would actually offer?
    Originally posted by Carl2510
    But as has been explained already, the price they initially offer is almost certainly not the price they will end up offering you.


    The initial price will be to encourage you to sign up with them. Then after some delays, and perhaps after you've paid some fees, they will lower the price but you will feelcommitted by then.


    These people are in it as a business, to make a profit, and they are experienced at 'sales' techniques and how to draw you in.


    Selling via an estate agent you are selling to .... people like you and me who just want a home to live in, and who (generally!) won't mess you around, and will pay a fair price. Yes, it might take a bit longer, and yes, you might pay a modest amount extra on your mortgage, but you'll make much more on the sale price.
    ** If I include a blue link in my post, click and read it before posting a follow-up question. The answer may be in the link! **
    • Carl2510
    • By Carl2510 11th Jan 20, 11:36 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    G_M thank you for your honesty, I think I’m going to go down the estate agent route, figure out what the fees are if I leave my term early, and get it up around summer time give it time on the market to hopefully sell. And if not speak to my mortgage advisor and if I can go into another fixed term but maybe with no penalty to leave.
    • ckj
    • By ckj 12th Jan 20, 7:00 AM
    • 2 Posts
    • 0 Thanks
    ckj
    I sold my house to a cash buyer and got a great deal as i wanted to sell quick, but be careful alot of the quick sale websites will give you an offer straightaway without even seeing your property (how is this even possible! And the offers are awful
    I managed to get hold of an investor who visited my house and did a full review before making me an offer and although it was less than market value I didnt do too bad compared to the other offers id had.
    I can send you his details he buys all over the uk.
    • Carl2510
    • By Carl2510 12th Jan 20, 10:01 AM
    • 82 Posts
    • 4 Thanks
    Carl2510
    Yes if you could please that would be great.

    Also does anyone think if I give a certain date Id want to move out does that put a lot of people off buying the house?
    • The Earl of Streatham
    • By The Earl of Streatham 12th Jan 20, 10:28 AM
    • 143 Posts
    • 295 Thanks
    The Earl of Streatham
    Yes if you could please that would be great.
    Selling to friend of a stranger on the internet isn't the best strategy.

    You need to examine why you want so desperately to sell your house for less than it's worth to the market at large. You have the advantages of time and somewhere else to go, just sell it in the normal way.

    Or if you're determined to lose the value of the place to a stranger, I'll give you a tenner if you undertake to complete with vacant possession within a year. Given your desire to lose money on the transaction this should amply satisfy your needs.

    Or you could list it with an estate agent. For all their faults, they will at least try to get the best price for your house, an outcome which you appear anxious to avoid. There are occasions when trying to execute a cunning plan isn't as good as doing the obvious thing.
    • kangoora
    • By kangoora 12th Jan 20, 10:53 AM
    • 929 Posts
    • 914 Thanks
    kangoora
    If you have a 100k mortgage at variable at 4.5% its around 550/month

    If you have a discounted 100k mortgage at 2% its around 424/month

    If you sell 8 months after you go onto variable rate it's going to cost you 1k more. As opposed to selling to one of these discount places (or even an auction) where you will probably get 20% less than value.

    Assuming your place is worth 150k you'll lose 30k (20%) for a quick sale.

    Which is better, losing 1k or losing 30k?

    Substitute your actual values in to the above
    • Carl2510
    • By Carl2510 12th Jan 20, 10:59 AM
    • 82 Posts
    • 4 Thanks
    Carl2510
    I get what your saying, but there is no harm in seeing what they will offer compared to what the estate agent will put it up as.

    I am pushing towards the estate agent now from everyones advice.
    • GDB2222
    • By GDB2222 12th Jan 20, 11:02 AM
    • 16,269 Posts
    • 84,106 Thanks
    GDB2222
    I get what your saying, but there is no harm in seeing what they will offer compared to what the estate agent will put it up as.

    I am pushing towards the estate agent now from everyones advice.
    Originally posted by Carl2510
    Indeed. Do report back.
    No reliance should be placed on the above! Absolutely none, do you hear?
    • csgohan4
    • By csgohan4 12th Jan 20, 11:44 AM
    • 6,878 Posts
    • 4,715 Thanks
    csgohan4
    every house will sell quickly at the right price, whats acceptable for you?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
    • Carl2510
    • By Carl2510 12th Jan 20, 12:08 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    Personally If I was to get what I paid for it Id be happy and if it was a few grand more Id be happy.
    • csgohan4
    • By csgohan4 12th Jan 20, 12:12 PM
    • 6,878 Posts
    • 4,715 Thanks
    csgohan4
    Personally If I was to get what I paid for it Id be happy and if it was a few grand more Id be happy.
    Originally posted by Carl2510
    The question is what is the realistic price at present? not what you paid for it, it may not fetch that depending on location and market
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
    • Carl2510
    • By Carl2510 12th Jan 20, 8:10 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    When it was on the market it was 125K I got it for 120 as they wanted to sell quick as they had a house going through as well, got it valued for remortgaging last year and they valued it at 130K I know they only do that to actually help with the better interest though. But I’d be happy with 125K
    • GDB2222
    • By GDB2222 12th Jan 20, 11:30 PM
    • 16,269 Posts
    • 84,106 Thanks
    GDB2222
    When it was on the market it was 125K I got it for 120 as they wanted to sell quick as they had a house going through as well, got it valued for remortgaging last year and they valued it at 130K I know they only do that to actually help with the better interest though. But Id be happy with 125K
    Originally posted by Carl2510
    The cash buyers will typically pay you under 100k.
    No reliance should be placed on the above! Absolutely none, do you hear?
    • Carl2510
    • By Carl2510 13th Jan 20, 1:31 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    Yeah like you said there after making a profit.

    Got an email today from one, so need to give a call back. And see what they say I shall report back.
    • Carl2510
    • By Carl2510 14th Jan 20, 8:11 PM
    • 82 Posts
    • 4 Thanks
    Carl2510
    Update

    Rang the guy today, pretty much wouldnt even give me an offer unless I was looking to sell there and then. So I will more than likely sack off that avenue to go down. As the email they sent they did say likely to offer 80% of the value.

    Thank you all for your help.
    • peterhjohnson
    • By peterhjohnson 15th Jan 20, 1:12 AM
    • 75 Posts
    • 32 Thanks
    peterhjohnson
    One of the offers I had for my property was from a cash buyer offering about 3% less than the highest bidder who "thought he could get a mortgage", I chose Mr Cash Buyer who was very little trouble and didn't try to lower the price.
    • Carl2510
    • By Carl2510 15th Jan 20, 7:14 AM
    • 82 Posts
    • 4 Thanks
    Carl2510
    One of the offers I had for my property was from a cash buyer offering about 3% less than the highest bidder who "thought he could get a mortgage", I chose Mr Cash Buyer who was very little trouble and didn't try to lower the price.
    I will more than likely try nearer the time I’m selling and see what I can get. But I definitely can’t afford a 20% drop on sale.
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