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Original poster

Selling to investment buyers

11 replies

DiamondBright · 09/03/2022 10:40

I've spoken to a company that buys properties They would offer 82% of market value for a quick sale which is of course not attractive but they also offer introductions to investment buyers and suggested they could achieve full market value without putting the house on the open market, they'd arrange viewings in groups, no fees, or legal costs, they earn their fee from the buyer.

I'm interested in a quick sale, in as much as it would be difficult to start the process and then get stuck in a slow moving chain, this option means no chain, and for various complex reasons I'd prefer not to advertise the property online or to put a board up if it can be avoided and if it can't I would need to limit photos and viewings, so this seems a good option.

Has anyone done this?

The value they've suggested is subject to two local estate agents doing a proper valuation but is £10k more than suggested by a local estate agent recently who did a desk top valuation, which already seemed high to me.

OP posts:

Lastqueenofscotland · 09/03/2022 12:44

Is it Spingbok or Express?

ChristinaBlang · 09/03/2022 12:46

The market is crazy at the moment, I suspect you would get a quick sale for an amount that seems good whichever way you go.

EmmaH2022 · 09/03/2022 13:37

An estate agent will have chain free cash buyers on their books, they'll also be in a position to move quickly.

82%, especially in a market where many properties are going for over asking, is too low for the convenience they offer, I think.

Original poster

DiamondBright · 09/03/2022 22:51

@EmmaH2022

An estate agent will have chain free cash buyers on their books, they'll also be in a position to move quickly.

82%, especially in a market where many properties are going for over asking, is too low for the convenience they offer, I think.

I wouldn't go for the 82% but full market value without having to market the property publicly is tempting.

OP posts:

Starseeking · 09/03/2022 23:12

On the off chance that you are selling a 3 bedroom semi in West London, please PM me. I'm looking to buy, have a mortgage already agreed (purchase collapsed due to my vendor), so I just need a house to slot in! Would move fast if property suitable as been living with family for far too long, and have also sent notes to locals suggesting private sales, so wouldn't be put off by no agent.

RainingYetAgain · 09/03/2022 23:28

DS was beaten on a best and final situation in January, and since then has been offered viewings on a few properties prior to marketing by the same agent. (He had a MIP and decent deposit.). A couple of the houses have never been on Rightmove/Zoopla, so with the right agent you could sell to one of the buyers on their list.
The other thing is that the house he is buying only ever had an external view and no floor plan on the agents details, although he found the previous listing on Zoopla.

ukborn · 10/03/2022 09:15

Read the fine print very carefully. If it's too good to be true, it probably is (otherwise it would be a far more popular way of selling).
I don't know anyone who has sold this way but do know a couple people who buy this way and they never pay full 'market value'.

RealRaymondReddington · 10/03/2022 09:25

We used a company that did this as we needed a quick sale and knew our house wouldn't be super popular (newbuild townhouse on an estate). We negotiated with them and ended up selling to them for 20k less than our own valuations. They paid all the legal costs and obviously we didn't have to pay estate agen fees etc so in the end it worked out less than we would've got but it was worth it to buy the house we are in now. Incidentally, the way prices have risen we wouldn't have been able to afford this house if we hadn't done it when we did, or actually even to move. Different for everyone but we decided for us this was worth it.

Original poster

DiamondBright · 10/03/2022 13:52

@Starseeking

Much further north unfortunately.

OP posts:

WombatChocolate · 10/03/2022 17:13

The reality is that they draw you in, and then offer a much lower price….sometimes near the point if exchange. As others say, if it looks too good to be true or easy money, there’s probably a catch.

Be careful about schemes that require a cash outlay from you upfront or commit you to a payment if you pull out before a sale completes. If you go for one of these schemes you have to expect to get less than 100% market value. Only you can decide how much loss of market value the quick sale is worth to you. I’d expect you will see a fairly substantial reduction in what you will receive. As long as you know that’s the reality you can go into it with your eyes wide open if speed is more important than the price you receive. Otherwise, consider why everyone is putting themselves through the stress of the normal buying and selling process if they could get 100% market price from one of these firms!

fleurtt · 11/03/2022 21:19

You can ask a regular estate agent to sell without advertising - I think its called something like discreet marketing - as many have lists of potential buyers (but this may be not so common as it used to be).

Also they can give details of the house to people looking for similar houses in your area without advertising it. Especially if you have an asking price slightly below the others a good estate agent should be able to shift it for you and ensure potential buyers are able to go ahead with minimum of fuss

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