companies that buy your house!

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Monday 20 September 2010 5.30pm
My daughter wants to sell her house through one of these companies that offer to value,settle everything for a 'small' discount in so many days. My instinct is to steer well clear of them. Did Watchdog ever do a programme on one of these scams?

Has any one here had any experience of them? She does not live in London...
Monday 20 September 2010 6.48pm
Hi Jan,
these types of company sprang up after I'd left the estate agency business, so I've no first-hand knowlege of them, but I do know how they work if it's the type of thing I suspect it is. There are a few such companies around, but I think you're referring to the ones that buy your house from you to 'save you all the hassle.' If I'm right, then ask yourself a question. What's in it for them? The answer is, of course, a healthy profit. They are not going to pay the market price for a property, in what is at the moment a quiet market, and sit with it on their hands until they find a buyer. I suspect the price they offer will be way below the actual market value. If your daughter needs a quick sale, then I suggest she gets a valuation from two or three conventional estate agents and then compares their figures to what this other company is offering.
Tuesday 21 September 2010 4.54pm
Hi Jan - I've heard of them, and some of them seem to be legitimate businesses. They're offering a certain sale in a market where people pull out last minute! However, I also agree with Chalkey - it's OK to use them, as long as you know what you "pay" for their services. Getting 2-3 valuations from other estate agents seems to be the right thing to do

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