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National homebuyers - reputable? EDITED TO SAY SCAM, DON'T BOTHER!

22 replies
Found 17th Jun 2013
I filled in the web form for national homebuyers who guarantee they will buy your home off you and do it fast, but I stopped when I found out they wanted £250 for the valuation.

However they have since sent me a letter saying they have reduced this fee to £49 so I was wondering if anyone has any experience of using they or know if its a bit of a scam (for example you pay £49 but they only offer you an amount a lot lower than your homes value)

Is it worth a try?


EDITED TO ADD: they have now sent me another letter saying they will value our house for free! Its obviously just a money making scam.
I have phoned around other companies who offer the same service and basically they ask you the current market value of your home and offer 15-20% below this. There is no genuine valuation.

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22 Comments

if they offer to buy your home fast they will not offer you the full market value
Edited by: "mattmerch" 17th Jun 2013

Original Poster

mattmerch

if they offer to buy your home fast they will not offer you the full … if they offer to buy your home fast they will not offer you the full market value

Well I guessed that but what I want to know is if its worth it or not. If its only just under market value then it may be better than waiting years with your house in the market only to have someone pull out at the last minute!

But I don't want to waste £49 if they are useless and don't make reasonable offers.

Edited by: "stormydat" 17th Jun 2013

They will offer a good 20%-25% under the market value.

pinkleponkle

They will offer a good 20%-25% under the market value.



And then cut that by another 10% just before you exchange contracts.

My girlfriend is trying to sell her house and has already had two buyers pull out on her. She is now taking hers to auction at a low reserve to sell hers.The auctioneers do charge a fee but take fee out of sale price. They seem to be guaranteeing a sale thou

dont put it in the auction as u will get way less than the market value. put it on the market with lots of estate agents. just wait and u will sell it as long as u willing to negotiate. remember sell low, buy low. there no win for anyone in this market at the moment. and with interest rates so low as soon as they go up prices will decline or stay fixed for along time yet

Original Poster

they have now sent me another letter saying they will value our house for free! Its obviously just a money making scam.

I am VERY glad I never paid the £250, or the £49!!

I have phoned around other companies who offer the same service and basically they ask you the current market value of your home and offer 15-20% below this. There is no genuine valuation.
Edited by: "stormydat" 10th Jul 2013

National Homebuyers - what a joke. We paid the Valuation Fee expecting an offer lower than the value of our late parent's flat, which we accepted. We appointed a solicitor from their approved panel list. We are just approaching exchange of contracts and National Housebuyers have phoned to say they are reducing the offer by £20,000.00, a drop we cannot afford to take and still clear our parent's estate.. We have lost the Valuation Fee, and will incur solicitor's fees. We believed that once we had accepted their offer and signed all the paperwork, the sale would go through. We had seen no paperwork saying that they could reduce the offer at will at any time after we had signed the agreement. What a rip off.

I ve just had the same saw AD on TV contacted them they asked for a valuation fee up front I said no way, weeks later they came back to me say great news now can go to an offer for free (no value fee to me) and I am still waiting for an offer, they said it was with the underwriter and offer will be out to me in days. They have not asked enough questions for my peace of mind and if its to good to be true then its clearly not true.....my advise be careful and find a good local agent or sell it yourself on line and be prepared to drop your price/nego on it. I don't understand how they are allowed to have a AD on TV if its a scam which its sounds like it is........

I'm remember seeing watchdog type program about these type of buying companies and in each case they reduced the buying price they offered massively at the last minute. The sellers were devasted and some were even left in dire straits and debt after selling. Even if they pulled out they still lost a lot of money. A quick google comes up with examples of how they operate
Link

I have been approached today by National Homebuyers but having read the reviews am inclined not to proceed. I note the last review was 6 months ago. are there any more recent reviews ?

Thank you

George

Same here, we were foolish enough to get involved with National Homebuyers, and just before exchange of contracts they telephoned and reduced their offer by £40,000. An absolute con, and they should be avoided..

I contacted national home buyers today, the quote offer is now £395.00! talk about inflation! I refused and they then offered it for £100. I still refused. He said "oh I may contact you with in the next couple of days with some good news". I suppose they will then offer it for free.

Don't pay or use them!!! There are a joke

I have a property valued at £300k by 2 estate agents and wanted a quick sale so went to National Homebuyers after seeing their advert on TV.

They asked for an upfront fee to cover valuation but I refused. They phoned back the following day to say "our directors like your property and will proceed without the upfront fee". They offered me £240 which I refused so they increased their offer to £245 plus £1000 for legal fees which I accepted as needed the cash urgently for another purchase.

They provided the offer in writing and then sent 2 estate agents to value it. They came back to me and said they were reducing their offer to £225 which I very reluctantly accepted. They then took over a month to process via their solicitor and on the day of exchange they phoned me and said they were reducing their offer to £200k. Fortunately, I was in a position to tell them to put their offer somewhere where the sun doesn't shine.

It is my opinion that this is their strategy. They prey on people who are desperate for a quick cash sale (why else would you go to this type of company) and then delay things until the seller is really desperate and has incurred legal fees and has no choice but to accept the reduced offer at the last hour. In my opinion, this is unscrupulous practice which takes advantage of people who are already desperate. Once it had happened to me, I googled them and find that this is very common practice for them. Trading Standards needs to investigate these people.

I had a house on the market at a slightly reduced price of £500k as I wanted a quick sale, being in danger of losing the house I wanted to buy through getting lots of interest on mine but no actual offers I decided to investigate various companies of this type. When ringing these people I was told about the valuation fee, I refused as I said I was simply using it as a feasibility to see if it would be right for me. A week to 10 days later they rang me and said as they could see my house was on the market they would waive the fee and sendme through an offer. It arrived a few days later at £392k a disappointingly huge drop but actually one I could deal with along with not having to pay estate agents fees and the promise of it being hassle free. I accepted the offer but when I rang them they said they still needed to send someone to check the details and when did I want to complete by. I arranged the 'valuation' and gave them the date. Someone came and looked at the house and two weeks went by without contact. My solicitor rang theirs asking why there had been no enquiriers only to be told they had not been instructed. So after a few more days (7 days before the due completion date) I rang National Homebuyers to find out what was going on. Strangely co-incidental I was told my case manager was in a meeting and had it in her diary to call after 1pm would that be ok. The call came at one where in it was explained that "the valuers report came back at very much lower than we were expecting so we are reducing our offer to £310k" . The upshot I had to cancel all the arrangements for moving and go back to the market for another buyer. Reading reviews this is a typical tactic. Fortunately for me a) I had not exchanged on the new property as considered it too risky to do anything other than simultaneous exchanges b) I had never taken my property off the market just in case of problems. So make sure if you do go with them, don't exchange on your new property until you have exchanged with these folk, also be prepared to end up with approximately 55% of your properties market value being offered to you days before you exchange or complete so don't do your calculations on the figure they first give you. Don't pay the valuation they will come back to you and give it for free anyway. But probably best if you don't use them at all as no way is it hassle free.



Edited by: "Oakunited" 3rd Sep 2016

just reduce your price to the minimum you can eccept and sell through an agent .my son used these people and it ended up taking four months to complete with two reducing valuations in between Don't touch them with a barge pole best of luck

Glad I read this, its of no use to me, but it will show up on search engines and hopefully a few people will see it and realise these people are nasty con men.

Thank you very much to everyone in this thread for taking the time to review our service and thank you for bringing all your issues to our attention. We’re sorry you’ve had this experience and I would like to apologise for any inconvenience you have experienced. Please call our customer service line if you'd like to talk about the specifics of your situation so we are able to make things right in your specific case. Please call us on 01444257111, write to us at [email protected]nationalhomebuyers.co.uk or go to our complaints form on our website. We look forward to resolving any of these issues raised here.

I do hope all the people who have been scammed have gone to, at the very least, Trading standards or the Police as this sounds like fraud.

glad i read these reviews .been in contact with them and they want more details, ill just carry on the conventional selling route.
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