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Articles - Read our property specialist articles on selling your home quick for cash.

Threatened with Repossession? Can't sell your property? Have you considered a cash buyer?

Link to eZine article published January 2011.

In the current economic climate, the thought of having your house repossessed may unfortunately become more of a reality than some people could ever imagine.

With falling property values, increased job losses and difficulties making mortgage repayments more and more owners are sadly being forced to sell their homes. However, with banks requiring hefty deposits and imposing stricter lending criteria, it is also getting harder to buy and therefore directly harder to sell.

So what are the options when the bank is on your back and things are getting really desperate? Approaching an estate agent may be fine when you have plenty of time on your hands, however when you can't pay your mortgage this is often not a viable option. You may be waiting months before a reliable buyer comes along with a mortgage offer sorted and able to move.

This is where the quick sale of your home for a cash buy may be your answer and it is fast becoming a popular alternative in the current climate.

With a property cash buy you will definitely get certainty and speed on your sale. Some companies can make a same day offer and complete within 2 to 3 weeks. You also won't run the risk of being part of chain and your sale falling through. This is obviously a rare commodity in the current market. Speed is also very important in a falling market where your house may be worth even less if the sale takes months and then falls through.

However, with all these benefits there must be some compromise by the seller. They must accept a slightly discounted sale price often around 80% of the current market value. In return they get a guaranteed quick sale and can avoid repossession and a bad credit record.

It's also important to choose a reputable company. There are hundreds of 'quick sale' home buyer companies to choose from but it's important that you choose one that is trustworthy, pays you a fair price and is prepared to work with you to solve whatever property related problems you're facing. Many people that approach cash buyer companies need to sell their house quick as they are worried that otherwise the bank will repossess it. Cash buyers can help many people in that situation by offering them a quick and guaranteed sale at a reasonable market price.

There are also other situations where cash buyers can also assist such as forced house sales due to divorce, emigration or probate. Cash buyers also offer the additional benefit of a free valuation and can even buy houses that fall outside the lending criteria of banks such as those needing a lot of repair work. The location of a property or the condition are not necessarily obstacles to sale either which is beneficial to the seller.

As well as buying all types of properties property cash buyers also usually take care of the legal fees so the buyer doesn't have to pay any solicitors fees, which saves the buyer a significant amount of money upfront.'

To summarise the benefits of a cash buyer:

  • Fast completion for cash
  • No valuation or administration fees
  • No exposure to further price falls whilst finding a buyer.
  • No agents or solicitor bills.
  • No danger of a sales chain collapsing.
  • No timewasters or strangers coming into your home.
  • No worries of long uncertain waits for buyer surveys or mortgages.
  • Completion to suit your needs.
  • Save time, reduce stress.
  • Stop repossession, years of 'Bad' Credit ratings and CCJ's.
  • Best of all, you can move on with your life!

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