Be wary of offers that are ‘too good to be true’
“But Guru,” I hear you say. “This company are offering me 90%. Surely that is a better offer and I should go with them?”
I hear this kind of comment all the time, and it really frustrates me. There are hundreds of wannabe cash house buyers trying to win business in a relatively small market, and many of them will stop at nothing to hook you in. This includes offering you apparently generous prices for your home that they have absolutely no intention of paying.
As I’ve shown, these offers just don’t add up. They are simply not affordable. So you can be absolutely certain that you will never, ever, get that much money for your home.
Of course, they won’t tell you this straight away.
Often, they’ll wait until as late as the day your sale is due to complete before they drop the bombshell of their actual offer, these companies even have a special name for it, they call it “chip”.
You can read about this and other shady practices used by disreputable companies here.
This leaves you with Hobson’s choice of either accepting the new lower price or starting the whole sales process again with someone else. They know that most sellers simply don’t have the will to start again when all of their possessions are in boxes ready to move, and many sellers don’t even have that option, because of time or debt pressures.
If a company is offering you more than 85% – and plenty of them will – then the Guru says walk away. You can be sure that this is just bait for an unscrupulous trap. I know how tempting some offers can be, especially when you’ve got debt problems or an inheritance is at stake. But trust me, these figures are about as realistic as Barbie’s figure.
But don’t despair; not every cash house buyer is out to rip you off with fake offers. I’ve checked out all the leading cash house buying companies and despite all the problems with the industry, I have found some companies that pay what they say they will, with a fair price and great service. To find out who to trust, and who to avoid, visit my recommendations page by clicking the button below.