The reality of what can happen if you are desperate when selling your property

Being desperate can leave: me, you and the average Joe in a vulnerable situation, which can often can leave you at risk of quick manipulation. You know the times that someone pressures you very quickly into something, and you don’t have time to properly think about it, but it is a “now or never” sort of offer? Have you ever taken actions in desperation that worked out well? Rarely. 

This can be transpired in many areas of life: relationships, jobs and when looking to sell your house. And to be honest, we want to avoid desperation in all 3.

Of course, there are many reasons why you could be desperate to sell your house:

·        You need cash quickly to settle debts

·        You want to get rid of a property quickly after death of a loved one

·        You are divorcing or separating and you want to get rid of them and the house ASAP

What often happens in situations like these is - people search Google for “how to sell a property fast”, and often, come across house cash buying companies. These companies promise to buy your property in 7 days. You work out the property value and how it can be utilised for your debts, for example.

You think “yes great, that will work” and you sign up, input all your details and get a rough estimate of around 70% of the market value for your property. Now, say your property is valued at £300,000. Agreeing to selling for 70% of the total, would only be £210,000. Not what you were anticipating or looking for, but you think you can make it work with covering your debts and having some money left over.

A 30% reduction is very big, and you would be giving a £90,000 away to get it done ASAP. This can feel like a low blow and may leave you feeling sour. However, you push through the discomfort as you are willing to agree to it with the promise of your money landing in your account on day 7 - and you need this money after all.

Day 7 arrives and there is another nasty surprise. The cash buying company has now decided that they are not willing to buy your property for 70% of its value. They have now put a revised offer forward for you for 50% of its value instead. This now brings you to an offer £150,000 for your £300,000 property.

You are feeling distraught and at a loss, as you have already taken a massive cut by agreeing to only 70% of its value, and feel cheated. You are in a difficult situation as you are supposed to receive the money today and pay your debts back. What do you do now? You have been offered significantly less, and may not meet all your debts, but you can’t afford to wait any longer for this money?

We find that most people that accept this 50% reduction, are left with lasting and soul-destroying regret.

We at Smart Auction UK, don’t see this as fair, and always want to be transparent about the process and money you could get with us. We will be straight with you, not colour in your glasses and not do you dirty by back tracking or changing any terms.

Our process provides a fair and clear structure and we will agree expectations on both sides from the very start. We are on your side – the more money we secure for you, the more money we make. And no – we don’t charge you any fees. All fees are paid by the buyer, so you can rest assured that you will get every penny of the money we secure for you at auction.

We know we operate in the winning business model, so there will be no pressure or convincing from us. Just honest and factual information market insights, to keep you best informed about your options and ultimately you can make your own decision as to which method you want to sell your property by.

We also appreciate people may have had bad experiences in the past, or that you may still have a lot of questions – and we are happy to answer them all. Contact us by using the form below, or give us a call today.