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Original poster

Has anyone used one of those cash for homes type things?

30 replies

IAmAPaleontologist · 21/06/2015 16:33

I'm dubious. Very dubious What do they DO with all the houses they buy?

Anyway are there any that are vaguely better than others and worth getting a price from?

We live in a small village, house on the market, no viewings. House we want to buy is not on the open market but the owner has finished sorted through it (bereavement) and if we don't find a buyer for ours pronto to be able to proceed will be putting it on the market. We really, really, do not want to lose it. Small village, few options. It is one of very, very few houses that would give us the space we want. On other was on the market a while back, we procrastinated, it wasn't quite the right time and we had a few doubts and it sold.

Any ideas? What can we do to sell or at least generate interest that we have the potential to sell and the owner of the other place is happy to hold off a bit longer?

OP posts:
Slimmerforsummer · 21/06/2015 16:36

I suppose they offer less than market value then maybe do it up a bit and sell it on.
You could contact a few for quotes but I suspect they rely on people being desperate.
Perhaps you need professional advice on why your property isn't getting viewings

Original poster
IAmAPaleontologist · 21/06/2015 16:44

Dh has spoken to the agent a few times but not had much luck. He's ringing again tomorrow and will press them. It feels as though they are taking the view of it is on rightmove and if anyone wants to see it they will call, doesn't sound like they are trying to draw people in or suggest it to people. I get that the market in the village will be relatively quiet, you kind of have to want to live here, it is a lovely place though and I mean that in all honesty, we discovered it 6 years ago and don't ever want to leave.

OP posts:
Superexcited · 21/06/2015 16:47

They buy them for way below market value and then sell then on at a price nearer to market value or they rent them out.
All the companies that do this are only interested in paying rock bottom prices to desperate sellers.

SlippinJimmy · 21/06/2015 16:48

We recently looked at selling our house through one. They offered an attractive price and reassured us that we wouldn't get any extra charges etc, that the house would be sold within a few weeks.

Then we looked at the terms and conditions, there are loads of ways for them to catch you out! I honestly don't think it's worth it unless you are desperate.

Original poster
IAmAPaleontologist · 21/06/2015 16:49

Pretty much as expected then. We have a bottom value in mind which we don't want to/can't go below in order to port our mortgage over to the other house. We need to balance the need to not lose the other house with the desire to sell at a decent price.

How can I make someone want to buy my house then? Anyone want it? Lovely area, has a pizza oven in the garden.

OP posts:
Koalafications · 21/06/2015 17:02

Then we looked at the terms and conditions, there are loads of ways for them to catch you out!

I'm not surprised by this at all. What were the terms, out of interest?

Original poster
IAmAPaleontologist · 21/06/2015 17:12

I'm sure there are a LOT of conditions. I have a father who is a retired solicitor who dealt primarily in property though so that will help IF we go for one. I'd rather sell it to a real live person though, but I need to get one.....

OP posts:
Superexcited · 21/06/2015 18:52

When we sold to one the terms and conditions included that the sale had to be completed within 30 days and we signed a document to that effect. It was a pretty watertight document which meant either side could have taken legal action if the sale didn't complete.
We also sold it for 15% below market value but didn't have to pay estate agent fees. We sold with a sitting tenant and would have needed to pay legal costs to get rid of the nightmare tenant so it was a reasonable solution for us. I wouldn't have sold my home which I live in using that method though.

Original poster
IAmAPaleontologist · 21/06/2015 19:19

Quick and not backing out we can do, we just need to name the day for the house we want to buy, she wants to sell to us. Might as well contact a couple to see what sort of figures they give us I suppose. Plus talk to the agent and see if we can put a rocket up their backside. Not sure what else I can do personally in terms of selling if I can't get people through the door!

OP posts:
scarlets · 21/06/2015 20:15

Can you possibly afford to keep it as a rental?

TheFnozwhowasmirage · 21/06/2015 20:17

I'd rather put it into a property auction than use one of those companies.

Original poster
IAmAPaleontologist · 21/06/2015 20:22

No we can't keep it as a rental unfortunately. Auction interesting, I don't know anything about property auctions, I assume we'd be able to put a reserve on it? Element of risk there though.

OP posts:
StEdmundsPippins · 21/06/2015 20:44

OP - I sold a house by Auction. I put on a reserve I was happy with, and it sold for well above that.
The Auctioneers charged a fee similar to an estate agents, and for that I had the option of it going to auction 3 times, if it didn't meet the reserve the first 2 times.
They also held and open day every week for 5 weeks until the auction day, contacting as many possible/interested buyers as they could. I had several offers before the auction itself, making me think that it was obviously in demand, so I made it go through to the auction day.
The result was well worth it.

WorktoLive · 21/06/2015 20:52

I've heard that the below market value companies sometimes drop the price they've offered you at the last minute so you feel compelled to agree or go back to square one. I suppose if you google 'company names and reviews', you might get some feedback.

Might you get a quicker sale by just dropping your price with your agent? Is your agent marketing your property - can you get a friend to search the website and ask them about houses in your area/price range/size and see if it comes up?

Have you looked at recent sold prices in your area to see if your price is realistic. Does your advert paint a positive picture of your house - would you choose to view it out of others that come up in searches for the relevant location/size/price?

Original poster
IAmAPaleontologist · 21/06/2015 21:36

www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^25938&insId=1&googleAnalyticsChannel=buying

this is everything for sale in my village. we are 3rd down, the next 2 are not so much my village as half way to the next hamlet where we are in the heart of the village and easy walking to schools in the next village. bungalow behind us sold a couple of years back at 167k. we are close to the 2 bed on station Street but much bigger.

i don't like our photos at all. dh disagrees and thinks they are fine. there were words had, i lost.

OP posts:
TheWintersmith · 21/06/2015 22:06

I don't like the photos, they seem to make the rooms look either cramped and cluttered or bleak and empty. The picture of the yard has too much stuff in it also.

I'm sure someone with more knowledge will be along to assist, it looks a perfectly nice house. I'd buy it, but I don't need a house !

storybrooke · 21/06/2015 22:22

I think your house is lovely. Particularly love the upstairs room and the sense of space. But you have to remember that more often than not buyers have no imagination. I'll tell you what sticks out for me...

The pictures as a whole make it look as though there is not much natural light at all, I'd ask for the pictures to be taken again for free as they're pretty grim and would put me off viewing (and I do have imagination).

The rest I'd say is just cosmetic and easily fixed but I'd declutter the bookcase in the lounge, get a throw that matches the curtains for the couches and hide the stuffed toys/slippers, tie back the curtains to make it softer and flow better.

The dining room I'd put the table in the middle of the room, sets it as a proper extra room for dining as looks like it lacks direction just now, I'd tie the curtain again to give it a bit of shape and add flowers to the table and hide some books, add some candles or something simple to any bare shelves to make it less cluttered.

Kitchen looks fab but maybe take the bits off the fridge so the clean lines are continued through.

Bathroom I'd hide everything bar a hand towel. Love the decor!

Bedrooms look great, so spacious and clean, but I'd pop away the towel and teddies, clean the blackboard and maybe draw a flower or smiley face.

The upstairs bedroom I'd just clear so the bannister can easily be seen to maximise space, you've done a good job of dual usage there and maybe add some scatter cushions to highlight that.

I really do think you have a lovely home and a few tweeks you'd have it sold, its just getting people in the door to see its potential Smile

storybrooke · 21/06/2015 22:26

I've just noticed there's no floor plan? Definitely get them to do one, its the first thing most people skip to.

Cumberlover76 · 21/06/2015 22:29

Might be missing something but couldn't see a floor plan. That might help too.

Cumberlover76 · 21/06/2015 22:29

Opps x story

Chchchchanging · 21/06/2015 22:47

They will offer you about 50% value that's how

Superexcited · 21/06/2015 22:58

It needs a floor plan especially as it is spread over 3 floors.
The dining room needs to look like you use it - move the table to the middle, get rid of the table cloth and set the table or at least put some flowers / fruit bowl in the middle.

Superexcited · 21/06/2015 23:00

Is the bathroom downstairs? If it is that will put a lot of people off but you can't exactly change that.

JassyRadlett · 21/06/2015 23:04

Oh yes, you must get better photos and a floor plan!

So many people won't go beyond RM if it doesn't look bright and shiny for them.

Whoever took the pictures should be prohibited from touching a camera again.

Superexcited · 22/06/2015 07:05

Could you find space to install a wc on the first floor and can you afford to install one? If you are sleeping in the loft bedroom it's a long way to go at night to use the toilet (if it's on ground floor) and will put families off.

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