There are any number of reasons why you may want to sell your home quickly, in this article we will discuss the implications of the time frames which you put yourself under and the effect that this can have on the price.
There are property investors who could potentially buy your house within a few days, literally. There have recently been some examples of cash rich investors who are looking for a certain type of property finding one that is of interest and meets their requirements, and then owning the property within an extremely short space of time.
This is not the norm, and would clearly come at a cost. Someone who is selling their house quickly, will normally fall into one of two camps. They have either got financial difficulties, or alternatively they are relocating. In either of these situations the actual price which they receive for the property will probably not be as good as if the property were to naturally sell through the open market.
Over the past few years there have been a number of different types of financial instruments which have been used by people looking for what are known in the trade as „below market value“ (bmv) properties. There was a period of time where the buyers would purchase the property with a single day bridging loan, and then later that day refinance the property to access any equity which the property may have contained. This practice has been curtailed due to the liquidity issues experienced by the banks which has meant that the lenders will now only offer longer term bridging loan facilities.
Property investors will typically be aware that the people who are looking to sell are under pressure and due to nature of the transaction will only look for certain kinds of deals. Normally there will be a significant reduction from the asking price for the property, between 10-30% depending on who you deal with. This will then act as the motivation for them to buy. Now this may not be good for you to lose out on all this potential revenue, but if you are what’s known as a „motivated seller“, you may have to sell.
Typically these types of deals will not be transacted based on the way that the property looks, as the property will normally be being purchased as a buy to let arrangement. Although from time to time you will find an investor which is looking for a specific type of property within a certain area for their own needs.
Make sure that you get several valuations, if you can afford to. Do not rush into this. What may seem like a perfect solution, may be a big mistake in years to come. Take your time with the proposal!Immobilienmakler Heidelberg Makler Heidelberg
Source by Matt Lenzie