Anyone here used a house buying company? experiences and any recommendations

[Emanresu]

Auction would get you a sale but not the money you might expect. Or put it up for rent which will give you an income until the market changes,

 

[Fastpedaller]

Auctions have very high cost and no guarantee of an outcome until someone bids. ATM if it doesn't happen through the estate agent a buying company may be used, as my Wife wants it done. No option of renting (lots of LL's coming out of renting because of new rules) and it's 3.5 hours drive from us, so don't want hassle.

 

[SpokeyDokey]

Auctions have very high cost and no guarantee of an outcome until someone bids. ATM if it doesn't happen through the estate agent a buying company may be used, as my Wife wants it done. No option of renting (lots of LL's coming out of renting because of new rules) and it's 3.5 hours drive from us, so don't want hassle.

Have you had any quotes from these companies? If so, are they well adrift of your asking price?

 

[Fastpedaller]

Lets just say they aren't great, but I suspect an auction would involve up-front costs with no sale. The market is really flat.
We've had one setback after another......
Our original solicitor who couldn't get simple forms correct, and then retired having sold the files to 2 other solicitors
The new probate solicitor 'negotiating' a 4k minimum PLUS the original solicitors 2k they said they'd paid him - this is for a simple probate with 2 executors/beneficiaries, One premium bond account, one bank account, one house, no shares, no business interests, only simple household items (ie no antique painting of value or anything like that). I'd have expected a very low probate fee (not 6k).
Our first estate agent 'introducing' many viewers, and then, 2 weeks after probate was granted, telling us they thought it unlikely they could find a buyer and we should take it to auction - they had contacted anyone who had shown an interest and there was no prospect. After we appointed the new (current) agent the first person they showed around the property was someone the original agent had introduced 3 months before, and the original agent threatened to sue us!
With the current agent seemingly looking after the interests of the buyer, my Wife is understandably thinking it will never happen.

 

[Shearwater Missile]

OUR estate agent (you'd think he is the buyers agent, the way it's going) even suggested they could have a key after exchange of contracts to do changes/ re-decorate. If it all went belly-up before completion (of sale) it could be a real nightmare. We flatly refused. What if the buyer died or something?

How strange, about the key after exchange. That is what my buyers wanted, so that they could knock a hole through the kitchen to the lounge and fit carpets before they moved in. I had not heard of any such poppycock in all my life. Of course I said no.

 

[Fastpedaller]

How strange, about the key after exchange. That is what my buyers wanted, so that they could knock a hole through the kitchen to the lounge and fit carpets before they moved in. I had not heard of any such poppycock in all my life. Of course I said no.

Did the sale go ahead despite your refusal?

 

[Shearwater Missile]

Did the sale go ahead despite your refusal?

Yes. It was a case of my usual point of contact at the estate agents was on leave and somebody else asked me. Common sense would have said no before I was even asked. There are too many what ifs ! If something were to go wrong, who is liable ? But knocking through a wall, come on I ask you. I was getting to the stage that if it did`nt soon happen I would pull the plug. The buyer`s solicitors were partly to blame as they were asking questions that really had already been answered or should have been asked before. Incompetence if you ask me. Keep your nerve.

 

[Fastpedaller]

Update...... Our solicitor says the buyer's solicitor wants hand signed contracts and can't use an amended contract (electronically signed or signed by our solicitor).
It was only amended because they got us to reduce the price by 5k under duress.
My understanding is the Law Soc, Land Registry and Gov all accept electronic signing. Or we could, of course, go back top the ink-signed contract at the original price! they are playing for time, and it's very strange. We are told by our EA that the first in the chain are on holiday for 3 weeks, then our buyers for 2 weeks. If it doesn't happen this week if will be a long while waiting. What's their game? Suggestions anyone?

 

[Webbo2]

Update...... Our solicitor says the buyer's solicitor wants hand signed contracts and can't use an amended contract (electronically signed or signed by our solicitor).
It was only amended because they got us to reduce the price by 5k under duress.
My understanding is the Law Soc, Land Registry and Gov all accept electronic signing. Or we could, of course, go back top the ink-signed contract at the original price! they are playing for time, and it's very strange. We are told by our EA that the first in the chain are on holiday for 3 weeks, then our buyers for 2 weeks. If it doesn't happen this week if will be a long while waiting. What's their game? Suggestions anyone?

Have they got their eye on another property So they might be seeing which one comes up first. We had someone do this to us.

 

[Fastpedaller]

They've had every opportunity to sign the contract, but haven't taken it, so a possibility, however they have viewed the property regularly over several weeks, both inside and outside. We've been told today that the contract has been signed, but of course we haven't seen evidence of this. Also today the EA says the first in chain hasn't had their LISA funds made available- but I question why this would hold it up, as long as they come before completion, what's the issue? We've been told exchange in another week.

 

[Fastpedaller]

Have they got their eye on another property So they might be seeing which one comes up first. We had someone do this to us.

Could be - I understand our buyer's house is being sold through a different agent, so maybe our agent is trying to push for someone else to buy their house and he'll get more commission?
This happened to us when we bought our previous house (as first-time buyers) in Essex........ the EA the sellers were using had a buyer lined up who was selling through them - he told a pack of lies about us (saying we needed 120% mortgage!) to get the seller to drop us. being very aware of the gazumping/gazundering and other ploys used by Essex EAs, we were very wary, and had swapped phone numbers with the seller. When our truth was demonstrated to the seller, with Building society book deposit (remember BSoc books ) and mortgage offer, the sellers partner went to the EA and it nearly became fisticuffs. The next week the EA had the audacity to phone me and state 'you'd better offer 10k more as we've had a better offer' I gave him 2 choice words and later phoned the seller, and, of course, it was a lie. We did buy it at the price agreed with the seller.
A nice guy (a roofer) we knew in Essex said his Wife was setting up as an EA. Knowing what nice people they were, we had our doubts. After about 9 months the business folded - they were too honest to compete

 

[Drago]

Estate agents will be right up there with the lawyers, HR professionals, and influencers when the revolution arrives.

 

[Fastpedaller]

Could be - I understand our buyer's house is being sold through a different agent, so maybe our agent is trying to push for someone else to buy their house and he'll get more commission?
This happened to us when we bought our previous house (as first-time buyers) in Essex........ the EA the sellers were using had a buyer lined up who was selling through them - he told a pack of lies about us (saying we needed 120% mortgage!) to get the seller to drop us. being very aware of the gazumping/gazundering and other ploys used by Essex EAs, we were very wary, and had swapped phone numbers with the seller. When our truth was demonstrated to the seller, with Building society book deposit (remember BSoc books ) and mortgage offer, the sellers partner went to the EA and it nearly became fisticuffs. The next week the EA had the audacity to phone me and state 'you'd better offer 10k more as we've had a better offer' I gave him 2 choice words and later phoned the seller, and, of course, it was a lie. We did buy it at the price agreed with the seller.
A nice guy (a roofer) we knew in Essex said his Wife was setting up as an EA. Knowing what nice people they were, we had our doubts. After about 9 months the business folded - they were too honest to compete

Update - The good news is the contracts are exchanged, which came as a surprise yesterday. My Wife had been having to send a daily email to the solicitor along the lines of 'I agree to exchange contracts today'

 

[Jameshow]

Put it on a local area Facebook page. You might find an individual/ couple / family who want to move into the area saves on estate agent fees? Then get conveyancing.

 

[Emanresu]

Update - The good news is the contracts are exchanged, which came as a surprise yesterday. My Wife had been having to send a daily email to the solicitor along the lines of 'I agree to exchange contracts today'

That's good news. At least it is off your hands (apart from any breach of contract). You can start planning that holiday now to get over the stress.