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Has anyone actually used one of those "we will buy your house" places, I know and realise they are crap but would still like to know if anyone has?

(41 Posts)
Fimbo Thu 01-Sep-11 16:39:18

Please, I want first hand experiences. As all the wonderful recommendations on their websites I take with a large pinch of salt.

I have in the past told people on hear not to go near them with a bargepole.

But I need to get my parents house sold as soon as, so they can moved into a retirement complex. It has already been up for sale for over a year. The price is going to be reduced shortly and gas central heating is going in by the end of September, but it needs to be sold.

Fimbo Thu 01-Sep-11 16:39:45

here.

worldgonecrazy Thu 01-Sep-11 16:45:20

They will offer around 70% - 80% of the actual market value. Only you can judge whether this is something you can tolerate for the sake of selling quickly. They use their own valuers, but you probably know in your own mind a rough estimate of the house value.

Fimbo Thu 01-Sep-11 16:47:19

Yeah I know. I wanted to hear some success story from it, because it all seems like pants. But it's getting to the stage that needs must. They could go on part exchange but it's the same kind of deal - crap!

worldgonecrazy Thu 01-Sep-11 16:52:31

I did look into it and all seemed legit if you don't mind the money offered. However, we can't afford to take that kind of hit so didn't proceed. We haven't had any follow up, so if you do look into it and decide not to proceed you won't be bombarded by sales men trying to push you for a sale.

Fimbo Thu 01-Sep-11 16:57:55

Cheers for that.

RedRubyBlue Thu 01-Sep-11 17:00:23

My mum phoned them recently and I don't know all the details but she was not impressed at all. They offered very little.

They are still phoning her trying to get to sell.

CarlaBruni Thu 01-Sep-11 17:03:06

I know someone who did. a few years ago now. It worked in that it got them out of an unsellable house in a pretty dangerous area and they were young enough to start again somewhere else and take on a new mortgage. A financial hit for them but worth it for peace of mind

Fimbo Thu 01-Sep-11 17:04:21

Thanks RRB. I have heard of them in some cases only offer 50% current value. Guess I am clutching at straws really. Sadly where my parents are houses are just not moving. We are now keeping everything crossed that the gas central heating that is going in, changing agents and lowering the prices might have some impact.

Fimbo Thu 01-Sep-11 17:07:19

Yeah I can see that would be favourable CarlaBruni. I suppose they could take an 80% hit but no more, it would still be better than what they would get doing part exchange, plus then the retirement place would pay their agents fees, reduce the price of the flat and pay for removal decluttering and costs. <sigh> But the chances of those places offering 80% are probably a big fat zero.

manyhands Fri 02-Sep-11 17:59:17

We used one because we wanted to move closer to work as it was a much better place to live and we would save a fortune in petrol and child care costs as we have family in our new town. We were living in one of the most deprived towns in the country and did not want to be stuck once the housing market slowed. We did sell the house for a lot less than on the open market but it was worth it for us as we got a great house in a fantastic location for a good price as it needed renovationg. For us it has been worth taking the loss as our quality of life has improved so much with the move.

Fimbo Fri 02-Sep-11 18:13:22

Manyhands thank you for that. Can you tell me which place you used? Was it loads under asking they offered you?

AlpinePony Fri 02-Sep-11 18:28:29

If you were asking a price right now which was 'true market value' you'd have sold.

Fimbo Fri 02-Sep-11 18:42:13

It's not me, AP it's my parents and you know what old folk are like. I am doing research. The price is being reduced in a couple of weeks once gas central heating goes in, but not holding out much hope as nothing is selling in their area at all as there are no jobs and therefore no-one new coming into the area etc. People are being made redundant left right and centre and nobody is moving up the ladder for fear of it.

Bunch Fri 02-Sep-11 18:44:59

We've been on the Market 18 months sad

Fimbo Fri 02-Sep-11 18:47:24

It will be coming up to that level of time shortly for my parents too, Bunch its crap. I reserved their retirement flat at the weekend before they lose out on that too but it means the house has to be sold and sold shortly. They could do part exchange but the deal is no better than these people that buy your house.

manyhands Fri 02-Sep-11 19:58:45

It was 28k below market value but all the other houses on the street are still for sale.

UniS Fri 02-Sep-11 20:03:33

Attempted to use one as part of a re-location package. BUT they refused to give a price for our 150 year old 2 up two down terraced house as it did not conform to CURRENT building regs. They took 6 weeks to decide this too.

midnightexpress Fri 02-Sep-11 20:07:54

Oh fimbo, I remember your thread when they were just putting the house on the market - sorry to hear it's not shifting. It seems really slow up here still - prices round here (Glasgow) have definitely dropped further in the past year.

I guess if they are buying the retirement property that renting out the current house is out of the question?

Fimbo Fri 02-Sep-11 20:15:26

Tbh I don't think 28k under is too bad especially if it enables you to move on.

Thanks midnightexpress, they are in Dundee a city in deep decline, but hey they are getting a smaller version of the VA museum soon. hmm. They need the capital to enable them to find the retirement property. Dh & I could in theory buy it from them and then rent it out. But dh is dead against the idea which I can understand. Plus we are in England and would not be able to keep an eye on it. The garden is enormous and needs someone who would look after it properly like my dad has done for 40 years otherwise it will just end up a bigger headache then it is already.

midnightexpress Fri 02-Sep-11 20:19:39

Yes, I can see that. And agents charge a fair old whack for property management, IME, if you went down that route.

Do you think Dundee is likely to pick up when (if) the market perks up again generally? I mean, when you say Dundee is in decline, do you mean in a terminal way, or is there lots of regeneration going on?

Fimbo Fri 02-Sep-11 20:25:41

When I went back in the summer, I was actually quite shocked. Is just full of 99p/junky shops. Don't get me wrong there are nice areas and just across the water in Fife where my parents in law live is lovely but the area around the Tay Road Bridge is just a huge mess. They are demolishing an office block and the swimming pool and rebuilding it on what was a car park, as a visitor coming in one of the main routes to Dundee you would be thinking you had landed in some kind of ghetto.

NevermindtheNargles Fri 02-Sep-11 20:41:08

Have you thought about putting it into an auction if you need to sell quickly? Developers like them as there is less messing about. You can put a reserve on it so it won't go for less than they are willing to sell. The fees are usually about the same as an estate agent.

Thepoweroforangeknickers Sat 03-Sep-11 02:31:57

An auction does sound like a good idea but I can't understand why they'd be interested in taking in a company such as you're looking at rather than reduce the price substantially.

Any house WILL sell if the price is correct.

Pudden Sat 03-Sep-11 11:13:02

Have just sold MIL house this way; we got 75% of value which we were all happy with as houses like hers (terrace house with yard) round here take years to shift. PM me if you want further info Fimbo

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