Quick cash house sale
Discussion
Chaps..
Future MiL wants to sell her house quickly and without the hassle of viewings, estate agents, etc. House is a 3-bed semi in a nice area in Scotland, needs kitchen and windows sorted plus a bit of tidying really (about £8k to sort) - top money for houses of the same size on the same estate is around £125k.
Does anyone have any experience, either first-hand or indirectly, of these developer companies that offer to buy houses for cash, or is there another way to do it?
Cheers!
Future MiL wants to sell her house quickly and without the hassle of viewings, estate agents, etc. House is a 3-bed semi in a nice area in Scotland, needs kitchen and windows sorted plus a bit of tidying really (about £8k to sort) - top money for houses of the same size on the same estate is around £125k.
Does anyone have any experience, either first-hand or indirectly, of these developer companies that offer to buy houses for cash, or is there another way to do it?
Cheers!
Bellshill, just outside Glasgow.
Yeah, we're aware that these companies mostly offer very low money compared to what the property would make if offered for sale to the public, but that's the price you pay for a fast cash sale. Just trying to make sure that the difference is as little as possible!
Yeah, we're aware that these companies mostly offer very low money compared to what the property would make if offered for sale to the public, but that's the price you pay for a fast cash sale. Just trying to make sure that the difference is as little as possible!
gradeAfailure said:
What's the likelihood of getting even less at auction than the housebuying companies would offer? What's the usual procedure for selling a house via auction - fees, etc?
Usual procedure is you put it in an auction, they flog it, take a few percent commission.Call a decent auction house and they'll tell you rates etc.
Soovy said:
gradeAfailure said:
What's the likelihood of getting even less at auction than the housebuying companies would offer? What's the usual procedure for selling a house via auction - fees, etc?
Usual procedure is you put it in an auction, they flog it, take a few percent commission.Call a decent auction house and they'll tell you rates etc.
You will have to do viewings prior to the auction and in my experience the Auction Houses like the property to be empty. The only advantage over an agent really is once the hammer goes down you will have a sale with no chain completed in about 28 days. You could try it with an Estate Agent as Cash sale only? I did that with a house in November last year, priced it very realistically (on an auctioneers advice) and its sold no problem. Beware though people that say they have cash when infact they mean they have a mortgage for the finance but nothing to sell.
Andy M said:
No viewings at all & presented for auction = ouch!
I'd expect to achieve only 50% of the market value, if that...
No viewings is bad news. Serious buyers won't be interested, leaving only curious non-buyers. How about a viewing weekend, bugger off for the weekend and leave it to the agents to do the viewing while no one is in?I'd expect to achieve only 50% of the market value, if that...
gradeAfailure said:
Chaps..
Future MiL wants to sell her house quickly and without the hassle of viewings, estate agents, etc. House is a 3-bed semi in a nice area in Scotland, needs kitchen and windows sorted plus a bit of tidying really (about £8k to sort) - top money for houses of the same size on the same estate is around £125k.
Does anyone have any experience, either first-hand or indirectly, of these developer companies that offer to buy houses for cash, or is there another way to do it?
Cheers!
If the Kitchen and windows need doing, what about the electrics, heating and bathroom. And is your £8K a DIY price or an estimate of the cost of getting people in?Future MiL wants to sell her house quickly and without the hassle of viewings, estate agents, etc. House is a 3-bed semi in a nice area in Scotland, needs kitchen and windows sorted plus a bit of tidying really (about £8k to sort) - top money for houses of the same size on the same estate is around £125k.
Does anyone have any experience, either first-hand or indirectly, of these developer companies that offer to buy houses for cash, or is there another way to do it?
Cheers!
If the top price is £125K, then I would guess anyone hoping to make money would be looking to acquire that house for less than £75K.
It is in the first time buyer price range though, so demand (if the local wages support it) from such buyers who will have a go at a bit of DIY might help the price at an auction.
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