Hi, has anyone ever sold their house to one of these companies that buy houses? We have been on the market a year and are getting fed up!! We have contacted a few companies, most have given really low offers, but one, homebuyersuk, have offered the full asking price, but not at once! they give 2/3rds at time of sale and 1/3rd 18 months later, you still retain the lease, but not sure what to make of it. We could actually move this way, but is it a risk........
Personally id avoid like the plague, what happens if the company you sell too goes into liquidation ?? you already sold em the house so my guess would be they'd walk off with the other 1/3rd also the lease you mention would that mean you'd be paying the them a monthly lease ? If so then they will probably take advantage of the situation and charge you whatever they want at a moments notice.
My advice would be to sit it out and if your property is not unrealistically priced in todays market, then it should sell.
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Hi, no I wouldnt have to pay them anything, but they couldnt sell the house without my permission as my name would still be on the lease, so if they went into liquidation I would have that? just thought it sounded good but unlikely. thanks for the reply. been waiting a year to seel and just need to get on with life.
Hi, no I wouldnt have to pay them anything, but they couldnt sell the house without my permission as my name would still be on the lease, so if they went into liquidation I would have that? just thought it sounded good but unlikely. thanks for the reply. been waiting a year to seel and just need to get on with life.
No - Winemaster is right to warn you. These arrangements are sometimes known as sale-and-rent-back. the idea is the offer very quick sales to people who can't afford to keep up a mortgage but don't want to be evicted. They buy the house from you and then grant a new lease / tenancy so that you can live there. IF they became insolvent , you would not get your remaining third of the money and your tenancy would end too.
I think "Homebuyers" has gone bust already so it can happen. I don't know of any connection between Homebuyers and Homebuyers UK, but i'd want to check it out.
I've heard some of them will look to reduce the price significantly on the day you are due to complete / move. i.e. once you have committed to the expense of moving.
A friend of mine had to sell her house in a hurry, (divorce) and althought the house was on the market for £135,000 they offered her £75, 000, she told them to do one!!!!
This sort of company makes my blood boil as they aim to attract the most vulnerable people who inevitably get screwed.
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