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Homes bought for Cash

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
Are any of the companies that buy your house fast reputable?

I'm reaching a desperate stage with the old house selling and starting to consider other options. I know they don't give you what it's worth, but to be honest, I doubt anyone will in the current environment. But on the other hand I don't want to get ripped off!

Help :(

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Have you tried asking the Citizens Advice Beauro (which annoyingly enough I know is spelt wrong but cant for the life of me make it look right).
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    bureau
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I don't know, but I'll ask my Mum tonight when I talk to her, I know she has looked into it (also due to house selling desperation).

    ETA: Ok, I asked her about it and she said she hasn't actually looked into it yet, just something she was planning to :p Sorry!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Knee High Stripy Socks wrote: »
    bureau

    No wonder I couldn't spell it, its just a stupid jumble of letters which have no real relationship to the sound.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    budda wrote: »
    Have you tried asking the Citizens Advice Beauro (which annoyingly enough I know is spelt wrong but cant for the life of me make it look right).

    I hate that word as well.... I usually spell it so badly my spell-checker can't decipher what I mean
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Some of them are reputable, but none of them will pay anywhere near what your house is worth (which means they will be paying less than an actual buyer, not just less than you want).
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    you're looking at anywhere from 70-85% of current market value for a distressed sale, and with the current absence of buyers i would guess towards the lower end of that scale because bargain hunters are targeting owners struggling with payments who are afraid of being repossessed. looking back in a couple years time it might even seem like a good deal, i guess it depends how bad you need the cash...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Mist wrote: »
    Some of them are reputable, but none of them will pay anywhere near what your house is worth (which means they will be paying less than an actual buyer, not just less than you want).

    Which would be ok if there WERE any actual buyers, but unfortuately the media has done a good turn on them and they are all running scared.

    I'm not bothered about money, particularly, or not getting the maximum possible amount for it, and I don't need the cash fast. I just want rid of this house. It's nothing but a financial and emotional drain and I want to see the back of it asap before I actually, properly go mad :grump:
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    .
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I would suggest that it might be worth hanging on to it a bit longer and then maybe investigating the possibility of using it as a part exchange against a new house if you want to buy one in the future - some new build companies will take your house off your hands for you i believe.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    If the cash isnt the main issue, could you rent it out for a while and move somewhere else?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    budda wrote: »
    Have you tried asking the Citizens Advice Beauro (which annoyingly enough I know is spelt wrong but cant for the life of me make it look right).

    thats one word i always have to really reallythink about too lol

    bloody french!!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    SuzyCreamcheese wrote: »
    thats one word i always have to really reallythink about too lol

    bloody french!!

    I tried for ages with Word, and all the various spellings I tried didnt work even with spell checker.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    budda wrote: »
    If the cash isnt the main issue, could you rent it out for a while and move somewhere else?

    I have lived somewhere else for 18 months now. That's the main problem. I tried renting it out for a year, but that just caused so much trouble, it's really not worth it. Cash isn't a problem in the short term, but losing it every month in the long term is, and my tenants were bleeding me dry. At the moment I'm paying towards the mortgage here, but I'm also paying the mortgage on an empty house that's in a different city and I can't keep an eye on it, and it's not the kind of situation that I can bear for much longer. I've reduced my asking price 3 times, and still no joy. People do go and see it, and everyone who's viewed it has said it's a nice house, but no one wants to actually take it :banghead:

    Wyetry - that's another option, but then I'm concerned that they may not take mine at all, cause it's ex-council, and some exclude them from their part exchange policies, and also we have another house as well, and not sure if they'd take both, in which case we'd be in the same situation, only reversed!

    Stupid economy. Stupid first time buyers :impissed:
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