Home Buying Companies

Budlet | 05:48 Mon 16th Aug 2021 | Home & Garden

8 Answers

Has anyone had any experience, and successfully used, one of the homebuying companies - specifically British Home Buyers? They have been in touch with my son about his property which has been on the market for a month with no interest whatsoever

Worcester 24I Timer

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bobbinwales

There not charities so the way they work is to offer well below the market value say 30% under so they can make a bit of money after costs including stamp duty. I'd avoid unless desperate for quick sale and not bothered about good value.

dave50

If he has had no interest in a month in the current climate then he is obviously asking too much for it.

barry1010

As already said they offer below market price and are ideal for difficult to sell properties or if you need a really quick sale to avoid repossession or the need for a bridging loan, as examples.

Your son should ask at least two more estate agents to value the property to make sure he is being realistic about price.

bednobs

although the market has been buoyant, house prices in England have now begun to drop, probably due to the stamp duty pause finishing. If there has been no interest at all, as said it's probably because the price is too high

davebro

Do you have a link to the property on "Rightmove" or wherever? Posting it would give folks a better idea.

-- answer removed --

Budlet

Question Author

It's a 704sqft two bed two bath flat in London. The asking price is similar to other flats in the development. None of them are selling very quickly. The market has obviously cooled

PsalmEquipt

As mentioned, Home-buying companies operate below market value. Further perspective may help in resisting a decision of expediency. From Perplexity AI https://www.perplexity.ai

While current market conditions may present challenges, London's historical appeal and global investment potential remain strong. You may readily leverage London's history and heritage to remind local buyers of the flat's international value and even attract international buyers.

Enduring global appeal: London consistently ranks as one of the world's top cities for international property investors, thanks to its rich history, cultural significance, and economic stability. Despite recent market fluctuations, London remains a prime destination for overseas buyers. Global investors' purchase of UK property has increased by about 180% over 11 years.

Heritage as a selling point: London's impressive architecture and history are significant factors in attracting international buyers. Investors from various countries, including the United States, Canada, France, and China, have shown particular interest in London's property market.

A safe haven for investments: London's property market has demonstrated resilience and long-term growth potential. Many international investors view the UK property market, particularly London, as a refuge for their investments.

To effectively market the property's historical and cultural value:

Emphasize the flat's proximity to historical landmarks or cultural attractions.

Highlight any period features or architectural significance of the property or building.

Market the property through international channels and real estate agencies specializing in overseas buyers.

Showcase the area's connectivity to major transportation hubs, as these are essential for international investors.

https://www.newbrickz.com/the-irresistible-appeal-for-international-property-investors

https://www.winkworth.co.uk/article/londons-international-appeal-whats-the-outlook-for-international-investors

https://www.lambornhill.com/about/property-blogs/why-buying-a-property-in-the-uk-is-so-appealing-to-international-investors