Houses for Cash

[Silentgirl]

Has anyone used one of the firms that buy your house for cash? Like We Buy Any House? I understand some are more reputable than others. I am in protracted divorce and just want to get the hell of my home now.

Alternately, you could put your property up for auction yourself, with a reserve price on it.
The auction company will take a small fee
The fee will be in their terms & conditions

I don't know if the auction company charge a fee if the property is not sold

You would probably receive a better price than via a " we buy any property company"
Unless you want to have minimum hassel

My parents looked at it and they pay way below the market value. I think 25 % less than if you sold privately. Does the house need a lot of work or you just want a quick sale ?

You can sell property or land at auction in any state
I've seen ruins, burnt property, non traditional builds, land for builders

If it has potential someone may purchase it

I did have a conversation with Yopa's auction department and was considering going with it but they wanted me to sign up for 90 days. I said I go with them if they could reduce the term to 30 days but they wouldn't agree. I hadn't thought about auctioning it myself - Ill look it into it. Thank you.

Are you looking to buy yourself? If so some of the new builds will buy your house from you to speed things up. You will get a lower price per gay but might be worth looking into.

I wouldn't recommend auction, it is so very expensive as I've just found out.

I am in the NE and paid £780 to enter my house into auction which covers being entered into the catalogue, viewing agents showing the house, and on line advertising. I wasn't advertised in newspapers to my knowledge, although I was told it might happen.

I sold my house in the March auction, on line only because of lockdown, for £275K and had to pay 2% + VAT on exchange, £6,600. I hadn't really calculated the VAT at 20% on top :( . I also had to pay my solicitor £1300.

A ridiculously expensive way to sell, but my house was deteriorating and after Storm Dennis nearly tearing the roof off, I was nervous to spend another winter there. As I hadn't reached the reserve I could have asked to go into the next auction without any further entry charge. I wish I had as I'm having trouble finding a property in my low price range.

Rent it out & live somewhere else

Is that an option ?

@Ishouldtryabiteachdayer. Yes, it looks like I'd take a big hit. It may be worth it as my protracted divorce is taking a toll on my health. Now at the point I'd be happy to give up all claims and live in a cardboard box... I don't think the ex would object so long as I don't get much out of it he'll be happy.

@3YearT1dyUp3. I ever really thought of that but I suppose it is. I'll look at the sums...

Freedom is worth every penny spent !

@Salome61I am sorry to hear that. Hopefully, you'll find somewhere soon:) I am going to be left with a small budget after the divorce and will have to relocate to a less expensive area - luckily my children are uni age so I don't have to worry about schooling anymore. I'm just going find somewhere very cheap and look after myself for a while. The sooner the better. Maybe I should reconsider the YOPA auction house. The buyer pays the fees for that as far as I recall.

My stepdad used one of those companies. Ended up taking about half the value of the house, but he was desperate after buyers repeatedly pulling out at the last minute and it was costing him a fortune.
He regrets it but at the time it was his only quick-fix option.

I was going to say part exchange with a new build, but they will want the new build to be more expensive, and I'm not sure how it works if you are splitting two ways. Worth asking you can often get a good offer from them, then they sell it on.

There are several auction companies. You don't have to use a local one. Some others may offer a better deal

Good luck

@Iamtooknackeredtorun Yes. I am looking to buy. I suppose I've not looked too much at new builds as the last time (many years ago) I looked at them you had to buy a more expensive house for them to buy your's and I will have to split the equity with my husband. Possibly things have changed since then. I don't really fancy a new build but actually, if it got me out this situation then it might be worth it. Back to Google again..)

We looked at that and they wanted to offer us £30,000 less than the home report.

Someone I know did this recently and sold for £40,000 under home report price because she was desperate to move.

Avoid doing this if you can.

What put me off is hearing that they offer a price, and then right before you exchange when you're heavily invested in selling (especially if proceeding with a purchase) they drop the price again making it very difficult for you to refuse.

I echo @notheragain4 - some of the companies are known for this, dropping the price last minute when you feel unable to refuse and have already heavily invested. I wouldn't touch them with a barge pole as that would just increase, not decrease, your stress levels!