lorna1999 Report post Posted February 22, 2011 A friend is looking to use this company after being unsuccessful in selling their property in nine months. I know they should reduce their price, yada yada, but they are being tempted by this company, who promise a good price. Any useful info I can pass their way, except 'if it is priced right it will sell'? Has anyone used this company or one like it? Ta Quote Share this post Link to post Share on other sites
juvenal Report post Posted February 22, 2011 (edited) A friend is looking to use this company after being unsuccessful in selling their property in nine months. I know they should reduce their price, yada yada, but they are being tempted by this company, who promise a good price. Any useful info I can pass their way, except 'if it is priced right it will sell'? Has anyone used this company or one like it? Ta There are any number of horror stories about some companies, and have been radio and tv exposes on them. They always buy well Below Market Value. That is their business model, whatever initial promises they make. Avoid them at all costs. Simply reduce the house price until a buyer is found. Google 'BMV house buyers' to see how many outfits are in this game, looking for confused, indebted and desperate sellers. Also read this: http://www.moneysavingexpert.com/news/mortgages/2011/02/which-reports-two-sale-and-rent-back-firms-to-the-fsa- Edited February 22, 2011 by juvenal Quote Share this post Link to post Share on other sites
monks Report post Posted February 22, 2011 Wasn't there a case recently where someone pursued this line, only for the price to gradually decrease until it was laughable. At that point, they pulled out of discussions, only to be hit with a massive charge for "administration fees". (I know, no sensible person would entertain the idea of paying them...) Quote Share this post Link to post Share on other sites
swissy_fit Report post Posted February 22, 2011 A friend is looking to use this company after being unsuccessful in selling their property in nine months. I know they should reduce their price, yada yada, but they are being tempted by this company, who promise a good price. Any useful info I can pass their way, except 'if it is priced right it will sell'? Has anyone used this company or one like it? Ta If the company pay a good price, then what's the business model of the company? If forced to sell, better to sell for a "cheap" price to someone you like, friend or family, than to a company whose profits depend on how much they can squeeze out of you. Quote Share this post Link to post Share on other sites
SarahBell Report post Posted February 22, 2011 (edited) High offer then reduced. Survey fee and very low offer Or Just very low offer 60% maybe Edited February 22, 2011 by SarahBell Quote Share this post Link to post Share on other sites
lorna1999 Report post Posted February 22, 2011 Please do not name companies -- FUBRA the site owners are getting increasing numbers of solicitors' letters threatening legal action for defamation and the moderators have instructions to remove them as soon as possible. The name in the thread title has been blanked out Sorry! Would still be interested in any views on generic BMV companies Quote Share this post Link to post Share on other sites
tim123 Report post Posted February 22, 2011 A friend is looking to use this company after being unsuccessful in selling their property in nine months. I know they should reduce their price, yada yada, but they are being tempted by this company, who promise a good price. Any useful info I can pass their way, except 'if it is priced right it will sell'? Has anyone used this company or one like it? Ta You will almost certainly get a better price at an auction, with no "hidden" valuation fees if you decide not to proceed (before listing). tim Quote Share this post Link to post Share on other sites
dothemaths Report post Posted February 22, 2011 A friend is looking to use this company after being unsuccessful in selling their property in nine months. I know they should reduce their price, yada yada, but they are being tempted by this company, who promise a good price. Any useful info I can pass their way, except 'if it is priced right it will sell'? Has anyone used this company or one like it? Ta TELL YOUR FRIEND TO STAY WELL AWAY FROM THESE COMPANIES . There was an expose on the BBC about 3 weeks ago - it might still be on iplayer. It was horrific. There was a couple who had almost paid off their mortgage on a 200K house and sold to one of these cowboys and ended up with basically NOTHING by the time the story ended. Quote Share this post Link to post Share on other sites
johnny5thumbs Report post Posted February 22, 2011 Please do not name companies -- FUBRA the site owners are getting increasing numbers of solicitors' letters threatening legal action for defamation and the moderators have instructions to remove them as soon as possible. The name in the thread title has been blanked out Completely understand doccyboy. And these companies are not all sharks. Some of them are committed to transparency and fairness. There's a company called ****** *** **** who have a testimonal on their website front page from a Mr. ***** ********* who said " **** ****** ** ******* **** ******** **** ****** ** *** ***** **** *** ***** **** ****** ** ******* **** ******** ! " So we definitely shouldnt tar them all with the same brush then ! J****y5th***s (without preju***e) Quote Share this post Link to post Share on other sites
chrismar Report post Posted February 23, 2011 Wasn't there a case recently where someone pursued this line, only for the price to gradually decrease until it was laughable. At that point, they pulled out of discussions, only to be hit with a massive charge for "administration fees". (I know, no sensible person would entertain the idea of paying them...) yes that was featured on one if the tv consumer programmes on the BBC. I recall the story but not name of program. I do recall a posse of female reporters investigating/presenting the features Quote Share this post Link to post Share on other sites
lorna1999 Report post Posted February 23, 2011 yes that was featured on one if the tv consumer programmes on the BBC. I recall the story but not name of program. I do recall a posse of female reporters investigating/presenting the features Thanks for this. I hope the words of others will help my friend - for some reason he gives more credence to opinions from strangers off the net rather than me. Fortunately no money has changed hands. Quote Share this post Link to post Share on other sites
