Quick Property Sale
Friday, 5. February 2010 5:15 | Author:JohnG
Few things in life are easy, especially when you try and sell a property quickly in today’s economic crisis. The financial market place has had a major effect on the property market and first-time buyers are virtually non-existent due to not being able to get a mortgage, not to mention the fact that the market has also taken most of the property investors out of the market place.
Before the credit crunch hit selling a property quickly was as easy as:
• Getting the price correct with the real estate agent
• Choosing the right real estate agent
• Finding a buyer/property investor
Now unfortunately a majority of these options are completely out the window, simply because it now takes quite a substantial amount of time to not only find a buyer, but also for your buyer to arrange a mortgage. Mortgage companies are now looking for greater deposits which means first-time buyers are struggling to get on the property ladder and investors are finding it hard, not only to come up with the deposit but also find a property where the rents work, not only them but the mortgage companies also.
Please don’t despair there is a solution because there are still a number of, cash property buyers in the market place to purchase property, even in today’s market. You need to ensure that you select the right company, please don’t be fooled in thinking that you will achieve a high price for your property, these companies are simply in the marketplace to purchase property below market value and make money. Most of these companies will generally be offering you 70% to 80% of a realistic market value.
You also need to ensure that the company that you are dealing with is a reputable, established and well trusted company. There are companies out there that will make you an offer and then four weeks down the line simply change the goalposts, generally because they are finding it hard to arrange financing. You need to get security of sale from the company you select i.e. an exchange of contracts and find out how quick they can do this. Don’t stop there though there are companies that will also offer to pay your legal fees.
There is another alternative and that is put your property in an auction, but the those brave enough to put their property in an auction will always have the uncertainty of not knowing how much the property will achieve, whether the property will sell and not to mention you auction house fees. Selling a property in an auction can be quite a traumatic experience. So be careful is you chose the option!
Steven Martin is a FSA interim authorised provider of Sell and rent back and also provides a Quick Property Sale. He works at http://www.quickpurchase.co.uk
Article Source: http://EzineArticles.com/?expert=Steven_J_Martin
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