Home buying companies

[oncemoreuntothebeachdearfriends]

I've been on the market for 6 months, & it seems that the current potential buyers can't raise enough cash - 2nd time it's happened. I've already agreed a price drop with them, don't want to go any lower.
I'm at risk of losing my ideal home.

I've recently had unsolicited letters from britishhomebuyers.co.uk & jbearproperties.co.uk that are very tempting.

Before i contact them, has anyone had any dealings with this sort of company (bot necessarily either of those) ?

Thank you.

We have, quick move now, there was no pressure during the process, no last minute dropping of the price (which I worried about), and they will pay your solicitor fees.

For us it was a brilliant experience, you will need to be prepared for them to low ball you, I think we got something like 85% value at the time.

@Ilikewinter

Ouch ! Thank you.

I knew it would be a lot less, but not that much.
I'll wait a while longer before I go down that route.

Our friends have just tried to sell with one of these companies. Original offer was quite a bit lower than they would have liked but accepted at £140K. 4 weeks into the process they called and dropped the price to £120K after they had sent a surveyor out. Friends mulled it over but due to needing to sell quickly reluctantly accepted this revised offer.

Exchange and completion dates set. Day before exchange they get a call from the underwriters from the company who say that unfortunately they have reviewed the case and now can only offer £90K!!!!

Our friends, at this point, pulled out of the sale and refused to sell for that price. This only happened a few weeks ago. They are now trying to sell through auction.

Now I am not saying all of these companies do this, but the one they used did so be careful and do your research if you do use one.

You'd probably be better off going to auction. These companies need to make a good profit - partly to offset any losses on other mispriced purchases. I'm surprised one offered 85%. I'd have thought 75% would be more likely - but I don't know.

Probably better to knock 10% off your asking price first and see if that brings you any luck. If two buyers have "struggled to find the cash" it sounds like their lenders are not agreeing with your price tbh.