Five Options for a Quick Sale
publication date: Oct 4, 2009
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
Selling a home quickly isn’t always easy, especially in the post credit crunch era! However, so you know how to sell your home fast, to a legitimate buyer, read our five ways to quickly and safely sell your home! How fast can you sell your home? Option One: Sale and Rent Back Option Two: Sell to an Investor Beware though, investors will look for substantial discounts and if you have a few weeks or months, it may be better to try other methods, or you could be losing up to 50% of the real value of your home. Option Three: Sell it via Auction Also auction houses at the moment are starved of good properties at great prices, so you may well get a lot more selling a property this way than you would if you sold to a property investor. Option Four: Sell via a ‘Chain Breaking’ Service Typically they buy the property in then sell it back out on the open market, so some will offer you a share of the ‘additional’ money they earn IF they sell for more than expected. For example, if they value your home at £100,000, pay you 15% less (ie £85,000) but then sell it for £110,000, some will give you 60% of the additional £10,000 they sell it for ie £6,000. Option Five: Sell via Part Exchange Part exchange works by the developer agreeing to value your home and to buy it at a certain price. Appointed legal companies then co-ordinate the purchase of your current home with you buying their property. This means you can end up buying and selling at the same time in a matter of weeks, and with new builds currently at rock bottom prices, it’s certainly something to consider! What will Stop a Home Selling Fast? Unfortunately whether we like it or not, selling a home has lots of pitfalls from tracking down missing paperwork to poor communication between estate agents, legal companies, lenders and insurance companies as well as you, the buyers and sellers. |
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