Advice needed to sell house to "Cash Company"

(11 Posts)
aikybeats Wed 08-Feb-12 13:54:45

Hi, looking for some advice please. My house had a Home Report carried out which came back as a value of £85000. I have had this on the market for around 6 months with no viewings at an asking price of £73000. We have now seen a house that we like. We are lucky enough that we have only got a mortgage of £38000 on the property and we are now thinking about trying the "We buy houses for cash options". I have been "provisionally offered" £61000 from one of the companies (which would still give us a good profit of £23000) which we would need to put towards the new house. Can anyone advise:
if they have used these companies and if so which ones were the best?
Once they get a survey done - do they reduce the price again?
Thanks a lot Amanda

aikybeats Wed 08-Feb-12 15:42:55

Hi, looking for some advice please. My house had a Home Report carried out which came back as a value of £85000. I have had this on the market for around 6 months with no viewings at an asking price of £73000. We have now seen a house that we like. We are lucky enough that we have only got a mortgage of £38000 on the property and we are now thinking about trying the "We buy houses for cash options". I have been "provisionally offered" £61000 from one of the companies (which would still give us a good profit of £23000) which we would need to put towards the new house. Can anyone advise:
if they have used these companies and if so which ones were the best?
Once they get a survey done - do they reduce the price again?
Thanks a lot Amanda

EverybodyLovesWine Wed 08-Feb-12 17:43:40

We looked into this when we were desperate to sell due to work relocation.

We had an offer of about 80% of the asking price when we first rang. Then we gave them the go ahead to do a full market report which came back much lower (think it worked out at about 65/70% something like that). This was also subject to survery which I imagine would pick on any little detail to get more money off. This was National Homebuyers (I think).

Is the home report you mention one done by one of these companies? If that valuation (£81K) is above your asking price (£73K) it may be worth it as your offer may not be reduced much more as ours was.

We decided the price offered was just too low so we cut the asking price to get ahead of the market falling and got a "normal" buyer that way. It may be worth talking to your agent to see what a quick sale would mean price wise. We looked into a part exchange and they value your house for a 6 week sale. In the end we didnt do the px but did use their report to influence our asking price decision.

poinky Thu 16-Feb-12 11:53:30

I had gone through the site, It was very interesting and providing detailed information about all the topics. You have needed Equity in your house and Need to sell Property quickly. It provides sound, real world advice and instruction that must sell class of standing then a consider a buy housed for cash company. Could you please provide some attachments abou the topic?

selling a house fast

maryjoe2 Tue 01-Jan-13 12:13:56

Message deleted by Mumsnet for breaking our Talk Guidelines. Replies may also be deleted.

pepperrabbitanddesultorytinsel Tue 01-Jan-13 12:18:59

ZOMBIE THREAD...

You say home report so you must be in Scotland? Can I suggest you look at the mcewan Fraser website. They are more legitimate than some other part exchange firms. Also, if you are east of Scotland, espc are bringing out a px option. Note sure how it is going to work out yet as I have training in it in January.

Also, you say you have a profit of £23000 for your new place. That isn't a lot when you factor in loan to value that banks need now a days as well as your legal and outlays. Also if you go over £125000 you have to factor in stamp duty.

Have you considered px with a builder?

poorbuthappy Tue 01-Jan-13 12:26:29

1st 1 of 2013 i believe! wine

FFS! 11 months old.

pepperrabbitanddesultorytinsel Tue 01-Jan-13 13:07:02

I tried to tell you wink

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