I need to sell-up quickly for cash; please help.

[reddragon]

Hi does anyone know of anybody in the North West (Bolton) who buys property for cash. We need to sell our house quickly. It is a 3 bed semi in tonge moor, bolton (ex council) valued this time last year at £128k - lovely condition and nice gardens.

I have tried to call a few out of the papers but they are offering silly sums like £80k or said they are not interested.

Any suggestions would be greatly appreciated. My husband has spent a lot of money on the house and altho we can take a loss as we need a quick sale as the debts are mounting up, we cannot afford to drop really less than say £110k. Does anyone know how these things work?

THank you so much.

[pippay]

Steer clear of these companies that offer to buy properties quickly .. I tried one once - had to pay a non-refundable "survey fee" (which I doubt was ever carried out as no-one ever came round and when the survey came through it said it was a house, not a flat!!) and they offered me less than the outstanding mortgage and was about 60% of the market value. They are in the business of making profits and they do so at the expense of people who need to sell quickly.

Try advertising privately at a bargain price and market with multiple agencies again at bargain price and see where it gets you. I don't know how property auctions work .. maybe that's an option too?

In the meantime, let your mortgage lender know of the circumstances AND what you are doing to resolve the situation. They are less likely to take legal steps if they know you are aware of the situation and trying to resolve it.

[justaboutsane]

We offered National Homebuyers one of our properties recently as an experiment. They cahrged £500 for a "full survey" when they only drove by it! They then offered us 60% of the survey price. We just laughed at them and sold the house 2 months later for 95% of the survey price! I have heard alot of bad things about these companies who buy from you.. and there have been some postings on here about those that offer to rent back the house to the vendors.. the completion is delayed until the bailiffs are banging on the door in the hope that you will be evicted before completion takes place and if you do get to stay in the property they action the section 21 they issued with your AST and kick you out! Then they are able to sell the property making a huge profit.

[pippay]

Yes it was !!!!


Was this National Homebuyers? They advertise on TV and have been on Watchdog once or twice recently with exactly that complaint against them. Whatever you do, don't pay up front for a "survey". Most decent property traders will not expect anything up front and will often pay your (reasonable) legal costs.

[jinny]

We offered National Homebuyers one of our properties recently as an experiment. They cahrged £500 for a "full survey" when they only drove by it! They then offered us 60% of the survey price. We just laughed at them and sold the house 2 months later for 95% of the survey price! I have heard alot of bad things about these companies who buy from you.. and there have been some postings on here about those that offer to rent back the house to the vendors.. the completion is delayed until the bailiffs are banging on the door in the hope that you will be evicted before completion takes place and if you do get to stay in the property they action the section 21 they issued with your AST and kick you out! Then they are able to sell the property making a huge profit.

This is what happened to us last year, although we didn't go to National Homebuyers, we went to a place in Manchester. They served me with the sec 21 in December, and they waited for the bailifs to turn up, AFTER telling me everything had been completed with regards to the sale of my home.
I would never recommend anyone doing what we did, even in a desperate situation like we were in, I have been to court to appeal against the sec 21, and it turns out, that the LL sold the property onto someone else in October last year, so the barrister has said that the sec 21 is invalid! plus, the deeds from the house, were still in our names when i signed the tenancy agreement, they didn't have the deeds in the company's name until a week after i signed the agreement!! so technically, the house still belonged to us, when the agreement was signed.
My case is sposed to go back to court sometime in june, as the barrister has said the sec 21 HAS to be signed by the person who now owns the house, but as yet, nothing has come, i did speak to the girl from the company last week, and she told me that i am costing the LL too much money by appealing the sec 21, so i told her if they play ball with me, i'll play ball with them! as with regards to the jobs that need doing which they promised me months ago, so i'm keeping my fingers crossed everything is settling down, i have not heard from the court regarding another hearing, or the LL.