Archive for 'Property'
How To Sell Your Property Quickly
Posted on 30. Nov, 2008 by admin.
If you’re looking to sell your home, you no doubt want to sell it as quickly as possible. Unfortunately, the state of the property market at the moment, particularly in the United Kingdom means that this is not always an option. It is well known that people are having difficulty getting mortgages and credit in general - especially for the amounts involved in purchasing a property. This leads to long, long selling times with most properties being on the market several years. Some for up to 5 years before they even get a viewing! So what are the options? I guess the first thing you can do is try to lower your price a little, people like a bargain after all and if your property is slightly lower than the market rate, it might just attract some interest. Although if everyone started doing this, it’d simply drive the overall value of property down in the UK which wouldn’t be good for anyone in the business of selling houses - especially if they’ve purchased their properties during the height of the house boom over the past few years.
The other option is to sell your house to a cash buyer. A company that buys homes for cash as a business as opposed to purchasing to live. By using such companies you can sell your property extremely quickly. Sometimes in less than a couple of weeks. This is mainly because there are no backward chains i.e. the cash buyer does not need to sell their property in order to buy yours. The only downside in doing such a deal is the price you will get for your property. Most cash buyer companies will offer you a there and then payment of around 15 - 20% less than the market rate - although with house prices dropping daily in the UK, this might not be such a bad thing!
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Selling And Renting Back Your Property
Posted on 11. Nov, 2008 by admin.
In you’ve never heard about selling your property and renting it back. I admit, it might sound a little odd. But in fact, it is extremely common. Many people are opting to sell their homes to cash buyers, especially in the current financial climate and then renting the property back from the buyer. I guess you need to think of it as selling your property to a company as opposed to an individual buyer, a buyer who wants to move in and live in the property. Such companies first and foremost buy your property to turn a profit. Whether they’re buying your property to flip it at a later date for a large lump some profit or they’re looking to find tenants for the property to live month to month, the rational is the same. This is where the option of selling your property to a cash buyer and then renting back the property from them comes in. You get a quick, no chain, lump sum cash payment for your property and you don’t even need to leave. The property buyer also gets a property investment and doesn’t need to bother locating their own tenants for their property. It’s a win / win situation which is the main reason for its popularity.
Like most deals of this nature, there are advantages and disadvantages. The biggest disadvantage is that you simply won’t get as much for your property when compared with selling on the open market. Cash buyers usually offer around 15 - 20% less than the market value for your property. But, when considering how long houses take to sell on the open market, particularly these days, that doesn’t seem so bad. The biggest advantage in such a deal is the speed at which they can be wrapped up. Most transactions in the sell and rent back market are wrapped up within a matter of days.