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Repairing broken property chains

LP
by LP 29 May 2009  |  Comments 3 comments  |  Love Love  0 loves

Our buyer has just been made redundant so has pulled out of buying our house. I'm looking at ways of repairing the chain, and have found details of companies that do just that by buying your house. Does anyone have any experience of these? Are they a good idea, or will they offer me much less that I want for my house? The estate agent valued it at £199,995 when we put it on the market in April

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Comments (3)

  • Dave
    Love rating 52
    Dave posted

    I have no experience of using these companies as a seller, but expect a low offer - they are a business and make their margins with buy low sell high whilst still paying Stamp Duty Land Tax along with any fees.

    Posted on 29 May 2009 | Love Love  0 loves Report
  • Swarbs
    Love rating 272
    Swarbs posted

    Yes, they will often offer 20-25% below estate agent / RICS valuations, although they do guarantee a quick sale. Most will do a no obligation quote - best idea is probably to call three or four of them and see what they'll give you. If they won't offer enough you can try to negotiate, or just say no.

    Posted on 30 May 2009 | Love Love  1 love Report
  • LP
    Love rating 0
    LP posted

    Thanks for the responses. We found another buyer within 5 days, so won't have to investigate these options, fortunately!

    Posted on 10 June 2009 | Love Love  0 loves Report

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