We buy your house?!?!

Question

Has anyone had any experience with these companies that buy your house? I know they offer below market value, but can anyone give me any experiences or recommendations regarding these companies?

We don't want to rent our house back, but we would like to just sell up and obviously this seems like an easy option!

Answer 1

  they offer ridiculously low prices, just put yous up for sale and see what offers you get. you can start cutting the price yourself if you get impatient. my advice is wait for the best deal, it is not often you will have such a good asset.

Answer 2

Go to a regular estate agent, and tell them you want to sell the house at a very attractive price.  You'll get far more than by giving it to those sharks offering to take it off your hands.

Answer 3

In a nutshell ONly if you are desperate!

And then choose a reputable national name as some make their money from 'valuation' charges, then offer you silly money.

My advice would be to get an agent on the job, if you are prepared to let the property go under market value they will expose it to the most buyers and obtain you the best thats out their in your timescales.

Answer 4

A pal of mine had a buy to let flat and to cut a long story short the tenant never paid rent for months.  In order to access a quick sale he asked for a quote from a couple of these companies - the price they offered was a complete joke.  THAT is how they make their £££ by giving you waaaaaaaaaaaaaaaaay below market value.

If you possibly can ride out the current storm and sell when things get good again - if not you will sell your house for a song and see in few years possibly it back on the market at way more than you got.

If funds are tight get inventive - take in lodgers, start doing B&B, offer a home from home for students etc etc  

Answer 5

These companies do not just offer below market value, they pay about half of real market value.

Well priced homes are selling in most markets, so rather than take a big hit, offer your home for sale at an attractive price.

Answer 6

Those companies are a good option if say, you’ve inherited a home free and clear (no mortgage) that isn’t in the best shape so selling it would be hard and you don’t care how little you make from the sale. Otherwise, they’re a complete rip-off.  We’re talking that if your house was worth $100,000, they’d give you something like $40-60K. If you owe more than that, you’re stuck paying the difference to your lender.

Let’s say you owe $110,000 on this $100,000 house. If you listed it with an agent and sold it for $100,000, you’re out $16,000 ($10K to the bank & $6K in agent’s commission). If you sold it to the “We buy houses” people for $50,000 and you owe $110,000, now you have to find $60,000 to get rid of your house.  Why do that?