Wednesday, 27 April 2011

Should distressed sellers sell to fast cash buyers or use an estate agent?

Today we have completed a sale for a lady who desperately needed to sell her property and fast!

She went to the back pages of her property paper and found two companies who promised to buy any property for cash and complete in a few days. She called them up hoping that they would solve all her problems. Desperate for a quick sale she thought that this was the only way to realise cash out of her property within a week!

As a second thought she called us at Roberts, Edwards & Worrall Estate Agents, just to see if we could help. She assumed that she would more than likely sell to the fast cash buyers because they had the 'readdies' and could do a deal instantly!

Her fast cash buyers offered £35k and £39k. We visited her property and gave her a proper market appraisal and a realistic marketing price and selling price. We said that as it was a distressed sale, we would market it for £55k and would probably be able to sell for £45k to £50k right away with a cash ready buyer.

Well, we called her back a few days later, and she said she had decided to go with the offer of £39k which was on the table from a fast cash buyer. We asked her if the deal was done and that if we could find her a cash buyer that day who was in a position to complete within a few days then would she let us try? She agreed to give us 24hrs.

So one of our sales team was on to it! We gathered up 6 viewers who were all in a position to buy and complete within a week and took them over to the property. Then the offers were tabled. Considering the vendor was about to take £39k, the first offer was 45k, then in came a £50k, then a £50.5k, then finally a £56k. The final offer guaranteed a completion within 3 working days. They would pay all costs including ours, the solicitors and the EPC.

As you can imagine, the vendor was absolutely delighted. By using an estate agent she made an extra £17k plus costs!

You see it definately does pay by using an Estate agent. We have the contacts and are the experts in the property field who give plenty of FREE advice.

We were all so pleased to help this distressed homeowner.

So if you need to sell quickly don't forget that Estate Agents have the know how and have plenty of contacts who have the ready cash and can get the deal done fast.

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