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want to sell fast, have seen a repossession we want to purchase

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  • want to sell fast, have seen a repossession we want to purchase

    We had our property valued about 3/4 months ago at about £399k with a sell price of no lower than £380k Now, 2 weeks ago, its been valued and we've gone to market at £340 asking price.

    We have found a repossession which is in the ideal area for us. Have spoken to the estate agent and the repossession company has declined a few silly offers recently and one lower offer from buyers which have sold theirs.

    Apparently, they will prefer "no chain" buyers

    I'm thinking that some of these companies that offer to buy your property off you below the market price might be an option for us. At least then we can make on offer on the repossesion with a sound backing that we are not in a chain and can complete fast?

    any advice, much appreciated. And how do I know which of these many companies you find online trustworthy?

    thanks in advance.

  • #2
    Depends on how much you can afford to lose, because those companys can get you to exchange very quickly but they do offer you a silly amount, why dont you go joint with about 3 agents and ask at least one of them to do an open day for you where they advertise it in the paper and anyone who is looking can come round, you get a few neighbours being nosie but you may get people who would'nt of bothered make a viewing. Hope that helps.


    • #3
      not a bad idea


      • #4
        Sell house quickly

        If you want to sell your house quickly then you should try the following:
        Price it at about 10% below market value
        Call all estate agents in your area and tell them that you have a bargain for them, they will then call all buyers interested in properties in that range and you should in turn have people fighting to buy.


        • #5
          Be carefull whatever it is advertised at tends to become the valuers valuation, which stops all potential BMV buyers.


          • #6
            On market at £340k .... can you afford to buy the target repo property if you get £255k for your house? 'cos that's what the 'buy quick at below market value' merchants are likely to offer.....

            I saw one where they state quite openly that they'll offer 'up to 70%' of the market valuation..... UP TO that percentage.


            • #7
              I wouldn't expect any cash buyer to go above 80% - it's an option if you really need to sell, and there are people who really do (I've used them before) - but is there anything about your personal circumstances that is forcing a sale?