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Companies That Buy For Cash

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I know that many Companies that do "Cash- for- quick (heavily-discounted price) sales have a deserved bad reputation. However, is there anyone on here who has had a good experience with this type of deal? (I am talking Northern Ireland only.) I am trying to sell a house via the "normal" Estate Agent route but with the near - moribund state of the market am deeply pessimistic about my chances. As I have already moved out of the property that side of it is not a problem. Has anyone had dealings with either GetanOffer or A-quick-sale as, at least in other parts of the United Kingdom, they appear to be among the "better" companies. I would be grateful for any advice/opinions.

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I know that many Companies that do "Cash- for- quick (heavily-discounted price) sales have a deserved bad reputation. However, is there anyone on here who has had a good experience with this type of deal? (I am talking Northern Ireland only.) I am trying to sell a house via the "normal" Estate Agent route but with the near - moribund state of the market am deeply pessimistic about my chances. As I have already moved out of the property that side of it is not a problem. Has anyone had dealings with either GetanOffer or A-quick-sale as, at least in other parts of the United Kingdom, they appear to be among the "better" companies. I would be grateful for any advice/opinions.

Binchy - Welcome

Where is your house ?

Why do you think you will struggle to sell it?

Any house in Northern Ireland could be sale agreed in a week if you PRICE it right.

Why dont you put your house on @ RATEABLE VALUE - I bet you will get some interest

There are loads of buyers out there , they just are not willing/able/banks will not lend them the money to buy until prices correct back to sustainable levels

i myself would love to buy a house and have the cash to do so , but I have called this right since 07 and am happy to wait till around 2012 ( in 07 i said i would wait to 2010 ) when I think we'll be closer to finding a nominal bottom ( this is all my opinion and i could be wrong )

Edited by getdoon_weebobby

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Binchy - Welcome

Where is your house ?

Why do you think you will struggle to sell it?

Any house in Northern Ireland could be sale agreed in a week if you PRICE it right.

Why dont you put your house on @ RATEABLE VALUE - I bet you will get some interest

There are loads of buyers out there , they just are not willing/able/banks will not lend them the money to buy until prices correct back to sustainable levels

i myself would love to buy a house and have the cash to do so , but I have called this right since 07 and am happy to wait till around 2012 ( in 07 i said i would wait to 2010 ) when I think we'll be closer to finding a nominal bottom ( this is all my opinion and i could be wrong )

Hi getdoon_wee bobby

I don't want to be TOO specific about location but it is on the Ards Peninsula.

My Estate Agent who has most of the properties around here (around ?250) sold just 3 in July - and I believe that that is about "average" for most EA's.

I, like yourself, have a negative view of the next few years and think it best to "get it off my hands now". As it happens I am not "desperate" just "very keen"

If I am correct rateable values were last assessed in 2004 and I have made considerable improvements to the house which (I think) would give a different RV "next time

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Listen to Getdoon. Be realistic about the price, if you can be, and it will sell no problem. I sold back in November, prob the last house my estate agent has sold since, but only because I was realistic, and luckily could afford to be.

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Listen to Getdoon. Be realistic about the price, if you can be, and it will sell no problem. I sold back in November, prob the last house my estate agent has sold since, but only because I was realistic, and luckily could afford to be.

Hi dmac

Thanks for your response.

My property is on the market at around £250K - and comparing it with similar properties in the area - I think that that is "about right". Do you think that if I suggested to the EA that the price be dropped to (say) £199,950 that would be an enticing price to "the market"? (I do realize that with "minimal information" you can only give "an opinion".......)

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I don't understand, you want to sell to normal people at £250K but will accept a lower offer from 'we buy any house.com'. That makes no sense, why not just advertise it at the lowest price you will sell at. Don't build in any 'bargining margin', and don't waste time with dishonest £50 off figures. And furthermore don't listen to EAs unless they are telling you to reduce the price.

There is no such thing as 'about right' if you are not getting any interest the price is too high. This is the problem in the market everyones prices are too high and they are not getting any interest/completions. The number of price reductions per week is rising, the number of houses going sale agreed then back on for sale is also increasing and the total number for sale is increasing.

If you keep with this idea that the price is right you will just end up chasing the market down. If you go to low you could end up with bidding rising the price, so be aggressive with your sales, the earlier you sell the better in a falling market.

If you want to sell within the next 5 years you need to appear to be exceptional value.

Also on RV are you not supposed to inform the rating service of improvements that affect the rateable value (increased housing space)? Any potential buyers may get a shock when their RV gets increased, it will also make your house look expensive when potential buyers lookup the RV. If you are just talking about having a nice uptodate kitchen and bathroom then don't expect to get any money on top for that.

Edited by Ride_on

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I don't understand, you want to sell to normal people at £250K but will accept a lower offer from 'we buy any house.com'. That makes no sense, why not just advertise it at the lowest price you will sell at. Don't build in any 'bargining margin', and don't waste time with dishonest £50 off figures. And furthermore don't listen to EAs unless they are telling you to reduce the price.

There is no such thing as 'about right' if you are not getting any interest the price is too high. This is the problem in the market everyones prices are too high and they are not getting any interest/completions. The number of price reductions per week is rising, the number of houses going sale agreed then back on for sale is also increasing and the total number for sale is increasing.

If you keep with this idea that the price is right you will just end up chasing the market down. If you go to low you could end up with bidding rising the price, so be aggressive with your sales, the earlier you sell the better in a falling market.

If you want to sell within the next 5 years you need to appear to be exceptional value.

Also on RV are you not supposed to inform the rating service of improvements that affect the rateable value (increased housing space)? Any potential buyers may get a shock when their RV gets increased, it will also make your house look expensive when potential buyers lookup the RV. If you are just talking about having a nice uptodate kitchen and bathroom then don't expect to get any money on top for that.

Hi Ride_on

Thanks for your detailed post.

It will take me a little while to construct my response.

B

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Hi Ride_on

Thanks for your detailed post.

It will take me a little while to construct my response.

B

Hi Ride_on

There is not a single point in your post with which I would disagree. Thank you for your advice.

B

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Binchy,

I would agree with everyone else on this one - put it on at a reasonable price and you will get it sold. We sold ours last November after being on the market for a year and a half. As soon as we reduced it to a more realistic price, it was sale agreed within weeks. I have to admit I was bricking it at the time and worried that we were selling too cheaply. However, since then the same house would sell for at least 25k less if they're lucky (I know because a similar one is for sale at a lower price than what we agreed and it's simply not selling). In hindsight, we did absolutely the right thing and are sitting in our rental whilst we wait for further house price falls.

It's also reassuring to start to see the type of house we want to buy coming down to a more realistic price and we hope to buy within the next year.

Don't waste your time with companies who will give you buttons for a quick sale (remember they are a business and will want to factor in a large margin to allow for further house price drops) - simply put the house on at a realistic price and you will get it sold. Good luck!

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I agree with HPC Hopeful - I know someone who has very recently completed the sale of their home, which when put on the market was priced more realistically - some way below 2 others that were similarly on the market in same development. One other unit in the same development came onto the market at around the same price as the person I know of, and while both subsequently had to reduce by approx another £20k, both have now been sold. It is a relief for the ex-owner I know to have the funds safely banked, still at a price approx 30% higher than it was bought for circa 2003. Of the 2 others, one was taken off the market, the other is still for sale, now at a price slightly above what the one belonging to the person I know was sold for. It has been reduced approx 7 times, having been on sale since 2008. If a more realistic price had been put on it originally, it could have been sold some time ago, likely acheiving a price well above what it is now on for. I doubt it will be sold anytime soon..

Hi Chris G, HPC hopeful and Lagansider

Thanks for your comments.

What I have done since my first post is ..........nothing! I think that I was too ready to agree the asking price which my EA suggested and am now prepared to reduce that price by 20% if necessary (although that will not be for some ten days as I am "unavailable" for that period).

There is no doubt that the consensus opinion that I am getting from the Forum is "just reduce to a realistic price" - which I now accept. However, if there is someone you know or know of who has gone the "company buy-for-cash" route I would still be interested to hear of their experience (particularly the company "A-quick-sale").

As I said I will be unavailable for the next ten days, but will respond to any postings made in the meantime, when I am "back".

B

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  • 246 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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