Home Buying Companies

[Budlet]

Has anyone had any experience, and successfully used, one of the homebuying companies - specifically British Home Buyers? They have been in touch with my son about his property which has been on the market for a month with no interest whatsoever

[bobbinwales]

There not charities so the way they work is to offer well below the market value say 30% under so they can make a bit of money after costs including stamp duty. I'd avoid unless desperate for quick sale and not bothered about good value.

[dave50]

If he has had no interest in a month in the current climate then he is obviously asking too much for it.

[barry1010]

As already said they offer below market price and are ideal for difficult to sell properties or if you need a really quick sale to avoid repossession or the need for a bridging loan, as examples.

Your son should ask at least two more estate agents to value the property to make sure he is being realistic about price.

[bednobs]

although the market has been buoyant, house prices in England have now begun to drop, probably due to the stamp duty pause finishing. If there has been no interest at all, as said it's probably because the price is too high

[davebro]

Do you have a link to the property on "Rightmove" or wherever? Posting it would give folks a better idea.

[Budlet]

It's a 704sqft two bed two bath flat in London. The asking price is similar to other flats in the development. None of them are selling very quickly. The market has obviously cooled