sell house fast

[want2findout]

My sister has recently split up with her partner. They have a house together which they must now sell. Trouble is the market is so slow at the moment, it could take months to sell. I've heard of companies who offer less than the market value for a quick sale. Would you recommend this or is there another solution?
Thanks

[Bewlay Bros]

Between 50-70 percent of market value is what they offer.

Also, they make lots of their money from insisting you use their surveyors for the valuation at an above market rate of at least �500. This needs to be done even if you do not go through with the sale.

If the house is suitable, look at housing associations buying it or if applicable the local authority.

Unless really desperate, avoid home buying comapnies like the plague and do not be fooled by "We pay your legal fees", etc.

Find the asking price through free through a local estate agent and take 10-15 percent off yourself.

[Fay Mousse]

Those companies are a last resort - if they have a mortgage they may not realise enough to pay the mortgage off. 60% of market value is low, but not uncommon.

Far better to do the research and put it on the market at a realistic price.

[Fay Mousse]

Cross post with Bewlay. :)

But as an extra - if they sell the house privately without using an estate agent, they will not need the HIP - a further saving.

[want2findout]

Thanks guys. I'll suggest they reduce the price themselves and sell through a site such as houseladder.com. Good point re. HIP. I didn't realise these were not neccessary if sold privately.
Thanks again

[parkesquay]

I hope you don't mind me using your thread but Fay Mousse has come up with an answer re private sale/HIPs that I am also interested in.
Fay, do you have a reference regarding this please.
Regards
For yourself(want2findout) if you put your question into the search box at the bottom of topics you will get previous answers to your question.

[parkesquay]

I will correct that slightly, the search box is at the bottom of this section(just scroll down). In the meantime have a look at this:
http://www.theadvisory.co.uk/selling-a-house-1 .php

[Fay Mousse]

Parkesquay - this is the law as it stands re HIPs and private sales of residential property:

Properties not being placed on the Open Market � property that is sold by landlords to existing tenants (i.e. right to buy and housing associations), property sold to friends/family etc. that has never been placed on the open market

http://www.hiphiphooray.com/HIP_do_i_need.asp

One has to work within the law, obviously, but this provides a huge roundabout to navigate a course to work it in your favour.

[Twenty20]

If the house is marketed i.e. put on the market, whether by you or an agent, you will need HIPS.

If you sell it without marketing then you don't need HIPS. Unless you sell it to a friend or relation it would be difficult to sell without marketing the property because no one will know you are selling.

[parkesquay]

Fay & Twenty.
Thank you for your answers,much appreciated.