Hi

I am may have to relocate with my job in approx 4 weeks.  The thing is I have bought a brand new house less than a year ago, and there still building on the estate.  I asked the builders if they would be interested in buying the property back off me as they have just finsihed a phase and due to start the next phase in the next few weeks so at present dont have anything to sell straight away.  They said no.

I got the house valued by 6 estate agents all with different prices from £350,000 to £270,000.  We paid £270,00 for it a year ago and done loads of work to gardens, added conservitory etc.

The thing is all the estate agents have said the house will prob not sell quick as the competiton with the builders is so hi, ie free stamp duty legal costs carpets etc.

With having to move quick I seen an add on TV from a company called national home buyers where they gaurentee you an offer within 2 days and a sale in a timescale that suits you.  I phoned them up and they said we need to pay a survey of £600 and they would give a cash offer within 3 days.  However this would be lower than the market value.  When I asked them for an average percentage they would not be able to tell me that untill after the survery.

It would be worth doing for us if they would give us say £300,000 but I recon they would take the lowest valuation of £270 and knock it down again for their offer.

I am not in the situation to rent out the property or really reduce it any further and then have to wait for a sale to go though (although I would have to if it was worst case but would be a very financial struggle)

Has anyone had dealings with this type of company before and can offer some advice?  your welcome to PM me if you wish.

Hope someone can help

I've heard of issues with these companies as they seem to end up offering you a lot less than you will want

I leave on a very new estate and the competition is very high and things are taking forever to sell - have you considered seeing if it is rentable?

Hi it is rentable but the rentable income would be approx £1000pm but our mortgage is £1600, plus then I wouldnt be able to afford to buy anywhere else.

I would be willing to pay the £600 survey if they could say what sort of offer it would be ie 10% less than the asking or 20% etc, but it seems daft spending this money if there going to come back with something stupid?

im sure this company were on watch dog steer well clear

I don't have any experience at all of this company but I'm guessing if they know you're desperate to sell, and have forked out £600 on a survey they'll offer you peanuts for it. Companies like this are in it for a profit of course, they'll have the same competition as you would have had with the builders. I don't think there is any way they will offer you 300 for it - more likely 200! Companies like this make a profit out of dealing with people who are desperate or need a quick sale - which means they can offer far less and make a good profit.

Stop - don't do it!! Thought it sounded dodgy, a quick google brings up the following...

http://personalfinance.iii.co.uk/articles/articledisplay.jsp?article_id=930017&section=Mortgages

Have a read of this before doing anything

and this http://www.mirror.co.uk/news/mirrorinvestigates/tm_column_date=16062005-name_index.html

MM - how do you do the neat little links???

LOLOL simple type what you want to appear as the link & then highlight it, click on URL  in the edit bar above the emocons Then paste the URL you want the link to go to after the [url=  & before the ]

Like this [url= h t t p://www url of the site ] the link word(s)[/url] without the spaces

ok... 3rd attempt... keep deleting them :D

Mirror

Yipppee thanks MM :D