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A Quick House Sale In The UK
By: Neil MacLeod
It is possible to get a quick house sale using certain type of buyer. These buyers are businesses which specialise in fast cash purchases of your property. Do not expect to receive the full market value of your home from them and for this reason these types of businesses are not suitable for everyone.
If you are looking to get 95% or over of your property value then the traditional route of the estate agent would be the common way to go. With the estate agent route one is subjected to longer period of transaction with its own pitfalls and perils as well as associated costs and legal requirements. Using a quick house sale company will allow you to speed up the process and avoid certain requirements such as HIPS. You may also find that the legal fees are paid (normally up to around #600.00), no fees to the estate agent and no valuation or surveying charges.
If the reason you need to sell your house quickly is because of a personal financial situation and there is a possibility of your home being repossessed, then the quick house sale option from one of these companies may allow you to remain in your own property and release the equity in it.
There is normally a "sell and rent back" option which will allow you to release equity in your home. You then have an option to be able to pay rent to stay in your property for a period negotiated between you and the cash buying company.
In order to work out a negotiable value of your property the quick house sale business will first look at the "hometrack" valuation of your home. This is used by most of the major mortgage lending companies to value houses. This is followed by "mouseprice" valuation which for properties sold is the Land Registry. With this information to hand and by using a fully qualified RICS chartered surveyor they will issue you with a proposal to buy your house, and if the option is chosen, the proposal to be able to rent it back.
The are advantages and disadvantages to selling your home in this way. The obvious disadvantage is not receiving the full open market value of your property. The advantages of selling your house in this way include a quick house sale, being able to remain in the property you sell, a release of equity, no HIPS requirement, no estate agent fees and legal bills being paid up to #600.00.
Sometimes decisions like these are forced upon us and with the increasing fuel and food costs which combined with a depresses property market with sellers finding it very difficult to close property deals there are many people who are in a situation where they may lose their home. using a quick house sale company could relieve that pressure.
Article Source: http://www.ezarticles.info
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