So you are in a financial situation where you need to sell your house fast? Maybe you have got yourself into financial difficulties and need to move quickly. Well there are lots of companies out there who are ready to help, but at what cost?
Selling You House Fast
Of course there are many things you can do to help sell your house quicker. Making small improvements to the house in order to make it more sellable are not always obvious to all. So before you start going to companies looking to buy your house for cash look at how you can make your house more attractive to buyers. There is a great article here which explains some great ways of improving your chances of selling your house fast without spending much money.
If however you have got to that stage where you need to sell really quick then there are still some good options for you. Many of the companies listed on Google are there to buy your house quick. But what’s good and bad about them.
Sell House Quick Sites Good or Bad?
Well it varies quite a lot, but most of the time the companies looking to buy your house are looking to make money from your situation. The simple truth is that you need to sell quickly and they are able to buy quickly. This doesn’t mean to say that it’s not an option. If you want to sell anything quickly you will often have to drop your price and it’s the same with houses. In order for someone to buy your house quickly without maybe even seeing it they need to know they are getting a goog bargain. These companies will often offer you a price which is 25% to 35% below the valuation. This doesn’t mean below your valuation and there is a big difference. Most companies will ask you to have a RICS valuation carried out which will give a true value of the property. The buyer will then make you an offer which is below this price. They will sometimes be buying the property themselves but often will be selling it on to clients so they need to have margins. A quick sale company will normally look to buy sell the property on to one of their clients at around 20% below the RICS value and make 5% on the sale. Of course this is not always what you would
have wanted but it does sometimes mean that you don’t get repossessed. You can of course negotiate with these companies and you may be able to sell your property for more than you thought especially if it’s in a good area. London based property it very much a wanted asset and you may be able to sell for only 5% below your asking price.
There is also sometimes the option to sell and rent back your property. This may be helpful if you want to stay in the area or maybe you have children and do not want to move. You may even be able to negotiate buying the property back once you have got yourself on your feet again. Make sure if you are looking to rent back that you are dealing with a company who are FSA regulated as Sale and rent back is a regulated business. You can check and see more details about sale and rent back here.