Possible Property Scam
Discussion
Hi all, I need a bit of advice. Situation is this:
I advertised my house for sale in the local press and had a call from a guy who claimed he has set up a business called 'Swainston Properties' based in Stockton on Tees. They claim to buy properties from people who need to or are in a hurry to sell for whatever reason. He directed me to fill in a form on his website (link given below) and that they would then check the information I provided and get back to me with an offer.
So two days after I went to
www.instant-cash-for-homes.com
and filled in the form I received a letter offering me 87% of their perceived market value. So far all well and good, save on agents fees etc.
Only when I ring them up they want £495 for a valuation fee paid by card over the phone before they can go any further!! OH oh big ratty smell about......
So I wondered if anyone have used this company, heard of them or the potential scam?
Incidentally the guy who rang me up said he used to have a plc company called Crabtree Plc which he sold and put £10,000,000 to one side to buy up properties from needy sellers. I know this is big business in the USA so thought fair enough.
BTW I am not a needy seller just thought I would ask and share this information with you. As usual things that sound too good to be true usually turn out to be just that!
I advertised my house for sale in the local press and had a call from a guy who claimed he has set up a business called 'Swainston Properties' based in Stockton on Tees. They claim to buy properties from people who need to or are in a hurry to sell for whatever reason. He directed me to fill in a form on his website (link given below) and that they would then check the information I provided and get back to me with an offer.
So two days after I went to
www.instant-cash-for-homes.com
and filled in the form I received a letter offering me 87% of their perceived market value. So far all well and good, save on agents fees etc.
Only when I ring them up they want £495 for a valuation fee paid by card over the phone before they can go any further!! OH oh big ratty smell about......
So I wondered if anyone have used this company, heard of them or the potential scam?
Incidentally the guy who rang me up said he used to have a plc company called Crabtree Plc which he sold and put £10,000,000 to one side to buy up properties from needy sellers. I know this is big business in the USA so thought fair enough.
BTW I am not a needy seller just thought I would ask and share this information with you. As usual things that sound too good to be true usually turn out to be just that!
TVR Guy said:
www.instant-cash-for-homes.com
Why don't you believe this is a scam?
Seriously, this looks very dodgy to me (look at the 'contact us' page of their site).
I have seen this sort of thing over the years and to be honest they come and they go.
A couple of year ago I had some chancer turn up at the office claiming to represent a portfolio of investor clients keen to acquire blocks of new built property or possibly a whole site albeit at a discounted figure. I was boldly informed that they were in a position to complete within a fortnight! The normal cobblers about ‘cash in the bank’ ‘save on agents fees’ much like they have told you, my question was simple
“Why do I need to sell to you, make me an offer for something and we’ll talk”
As it transpired they offered 80% of the asking price and again my response was plain and simple
“We open our doors in the morning to make a profit, not to have our c
s pulled by the likes of you as that’s my wife’s job”
Even more interestingly the bloke fronting up this multi million pound consortium actually worked in a factory in Thetford (nothing wrong with that I hasten to add) and had been sold this as some sort of business opportunity in the back of Daltons or a Sunday paper. The poor sod had taken his lunch break off and stuck on a suit and came to see us in a works van to come and see us. You know the sort of thing
Make millions from property, send £500 and we will show you how
I have to say I felt sorry for the lad as he was only trying to move himself forward and clearly had been ripped off by some scam artist.
So whilst talking of scam artists this seems to me to be exactly what this is.
My advice is to instruct an estate agent and tell them to get an offer on your property. A good one will extract an offer from somebody even it is below your base level, however much we all moan about them that’s what they are for. They will know your local market best unlike this lot and will know people who can indeed write out a cheque for something if it needs to be sold quickly.
I would almost be inclined to inform Trading Standards as this type of thing needs dealing with properly
A couple of year ago I had some chancer turn up at the office claiming to represent a portfolio of investor clients keen to acquire blocks of new built property or possibly a whole site albeit at a discounted figure. I was boldly informed that they were in a position to complete within a fortnight! The normal cobblers about ‘cash in the bank’ ‘save on agents fees’ much like they have told you, my question was simple
“Why do I need to sell to you, make me an offer for something and we’ll talk”
As it transpired they offered 80% of the asking price and again my response was plain and simple
“We open our doors in the morning to make a profit, not to have our c
s pulled by the likes of you as that’s my wife’s job” Even more interestingly the bloke fronting up this multi million pound consortium actually worked in a factory in Thetford (nothing wrong with that I hasten to add) and had been sold this as some sort of business opportunity in the back of Daltons or a Sunday paper. The poor sod had taken his lunch break off and stuck on a suit and came to see us in a works van to come and see us. You know the sort of thing
Make millions from property, send £500 and we will show you how
I have to say I felt sorry for the lad as he was only trying to move himself forward and clearly had been ripped off by some scam artist.
So whilst talking of scam artists this seems to me to be exactly what this is.
My advice is to instruct an estate agent and tell them to get an offer on your property. A good one will extract an offer from somebody even it is below your base level, however much we all moan about them that’s what they are for. They will know your local market best unlike this lot and will know people who can indeed write out a cheque for something if it needs to be sold quickly.
I would almost be inclined to inform Trading Standards as this type of thing needs dealing with properly
All perfectly legit and above board I guess.
1. The £395 fee is refundable if the property sells but not if the vendor pulls out at the last minute (fnarr fnarr
).
2. Their initial offer is only "indicative", and they only make their final binding offer once they've done the £395 survey
3. If there is a shortfall between the indicative offer and the final binding offer, then you may of course pull out at the last minute. See 1 above - bye bye £395
>> Edited by BlackStuff on Tuesday 22 March 22:42
1. The £395 fee is refundable if the property sells but not if the vendor pulls out at the last minute (fnarr fnarr
). 2. Their initial offer is only "indicative", and they only make their final binding offer once they've done the £395 survey
3. If there is a shortfall between the indicative offer and the final binding offer, then you may of course pull out at the last minute. See 1 above - bye bye £395
>> Edited by BlackStuff on Tuesday 22 March 22:42
scared but happy said:
Do a Google search on the telephone number, it does give an address, pop round and have a chat - perhaps with Roger Cook
Shouldn't be too hard to find, it will be the empty house with a big crowd of people outside banging on the door and shouting something about 495 quid.
>> Edited by gf350 on Tuesday 22 March 23:28
vario-rob said:
My advice is to instruct an estate agent and tell them to get an offer on your property. A good one will extract an offer from somebody even it is below your base level, however much we all moan about them that’s what they are for. They will know your local market best unlike this lot and will know people who can indeed write out a cheque for something if it needs to be sold quickly.
I would almost be inclined to inform Trading Standards as this type of thing needs dealing with properly
Me, Me, Me
There are reputable chain break companies around though, ours are part of our company, they are called quickmove. Seriously if anyone needs any help buying or selling I can give good advice, I'm very good, and I might even get you a deal if your in the right area
All of this kind of nonsense is pretty much always a scam.
It is very easy to spot a scam, just ask yourself one question:
"If I look forward twelve months, do I really believe that I will have received all that was promised, and will not then be saying "I wish I'd never got involved.""
There is an old saying - You get 'owt for nowt.
It is as true today as it has ever been.
It is very easy to spot a scam, just ask yourself one question:
"If I look forward twelve months, do I really believe that I will have received all that was promised, and will not then be saying "I wish I'd never got involved.""
There is an old saying - You get 'owt for nowt.
It is as true today as it has ever been.
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