David:
I understand that these companies will pay about 15% below the current market rate, but they seem to be able to do the convincing in remarkably quick time, days to weeks - and some even 'absorb' the cost of the legal fees.
Average house price in the south =A3180, 000 minus 15% equals =A3153, 000, sale price now some =A327, 000 lower.
Average estate agent and solicitors costs of same equals =A37, 000
Tim:
Yes, it seemed very good to me too. - 15% is a good deal for no estate agents to pay, any hassle, etc. I really does sound too good to be true.
Adrian:
Average house price in the south £180,000 minus 15% equals £153,000, sale price now some £27,000 lower. Average estate agent and solicitors costs of same equals =A37,000
I don’t know which bit of "the south" you're thinking of, but I like the house prices A LOT - shame your local solicitors and estate agents are utter sharks, though.
Partac:
You have to be very, very careful with this scenario. Whilst there are many companies who advertise to buy your house in a good price, there are most of the growing lists of companies, which give you the win situation at your expense.
What happens is that when you contact them a slick salesperson convinces you that they are ready and willing to buy your property with no strings. All you need to do is pay for a 'valuation' to carry out on your house (typically £300-£500) in advance, and then all that would need is for them to send a cheque for the agreed price to your solicitors. Is it easy? Except that members of their team who would give it, a pitifully low valuation would carry out the ‘valuation’. They are not worried whether you accept or not, they still part you from good money way. As I say, I am sure there are many genuine purchasers out there, but please make sure you ask all the right questions before you commit yourself to anything.
Rechard Faluknar:
We're waiting for our bungalow to sell - and want to move abroad. Given the slow state of the UK property market, I was looking at the >various companies who offer to buy your house from you, bypassing the >traditional estate agents & solicitors.
However - being naturally cautious, I was wondering where the 'catch' is?
I understand that these companies will pay about 15% below the current market rate, Who determines the current market rate? It wont be you- you can be sure=20 of that! It's not your asking price either, or it would have sold. It's=20 a price at which the property would sell for fairly quickly anyway.
In fact, if you put your house on the market at 15% less than the true=20 market rate, you would probably get several offers in excess of the=20 asking price, fairly quickly.
but they seem to be able to do the convincing in remarkably quick time, days to weeks - and some even 'absorb' the cost of the legal fees. So they say - they will actually do it at a speed which suits them, and=20. they are comfortable knowing that there is no competition. Some of them=20 will wait until they have got a buyer ready to buy at a higher price=20 until committing to an exchange.
So - anybody got any views or experience of these companies - or is it best just to wait it out with the conventional estate agent scenario?
It's not best to wait it out, but you need to find the true value. If=20 it's not selling at say, =A3200,000, drop it by =A330,000 and see what=20 happens - you are not committed to anything, and this is the most you=20 could expect from the speculators.
Mike
Well, a house is worth what someone is willing to pay for it, no more and no less. Therefore, a very good guide to the real market value of your house is what people have paid for similar houses recently. If there are any houses like yours nearby, it should be a simple matter to estimate an accurate market value because house-selling prices recorded by the Land Registry and are a matter of public record.
Quick House Sale Comments or Real Experience of People