Trusting cash buying specialists or
quick house sale companies always involves a leap of faith. At least
initially. Who to trust, who not to trust. It's a worry.
Reputation is hard to gauge. Saying
you're reputable isn't enough either. A third party recommendation isn't
It seems reasonable to suppose that in
situations where there are large amounts of cash involved you should be
circumspect. Us too.
Our "home made" site is designed to appeal to certain types of homeowner. We know
from experience these people make good clients. Whatever their
situation. The fact that it doesn't appeal to everyone is a good
thing. Trust, you
see, works both ways. It's not just whether you can trust cash buying
specialists, but also whether we can trust you.
Cash buying specialists
bit of a mixed bag
Like any business, property cash buyers are bit of a mixed bag. But there's nothing like a good
story to make a point. We've obviously only heard it from the client's
point of view.
There does seem to be a little bit of supply
and demand at work here - we know plenty of cash buyers who are
We'll let our client tell you her story
herself when things have calmed down. But for now, here's our version.
Kathy is facing imminent eviction.
She spends from Friday night through to
first thing Monday at the family computer. She contacts as many
quick house sale companies as she can find. Her nephew joins her from time
to time showing her how to get the best out of the search engines.
We imagine she has breaks to cook the family meals and sleep. But really
she's sat there all weekend long, give or take.
The phone starts to ring. Not many call
at the weekend, but offers do come in. Then the phone goes red hot
on Monday morning. As if by magic all cash buying specialists are
offering the same figure. Just enough to clear everything off.
Help is on the
A well-known cash buying specialist leaves the first of three
messages to the effect "you're running out of time".
(The fourth time he called the house was
We think we're one of the last three
companies she contacts (that's ok,
at least she found us). We have a
long chat. We talk about the background to their present circumstances
and what she'd like to do. It also turns out she has a medical condition
which makes her situation more complicated to work around. There is no
solicitor (yet) acting on her behalf. We tell her we'll help her, if
she helps herself. This seems to galvanise her into action.
With the stakes so high we double-check
our facts with our solicitors in Edinburgh then go back with some
suggestions. We find the lender unsympathetic. Meanwhile the clock is
ticking. Eviction is looming on Tuesday afternoon.
A fair cash offer...
We make an offer which we think is fair
given what we think the house is currently worth in its present
condition. Crucially our offer also gives the family some much needed
cash to put in the bank when the sale concludes. We agree a rent below
the going rate (every bit helps)
which still allows us to cover our
costs and more. We speak to other family members then deal with the
lender. The eviction is stopped on Monday evening. Phew.
Turns out the family think they
really want to buy the property back in a few years. We work out and
agree a formula between us which does two things. It gives the family a
stake in the property from the day the rent back agreement starts and it
also gives them every chance of being able to afford to buy their
house back. Everyone's happy.
With the knowledge the eviction
is halted everyone can relax
(including us). However the phone
continues to ring. A Manchester cash buying specialist calls to offer
just enough to pay the mortgage off and not the secured loan
(to quote Kathy, "they must think I
came up the Clyde in a banana boat").
Kathy takes the phone off the
We know we can't or won't solve
everyone's problems. But as cash buying specialists we promise to be fair. And