Property Help today was created out of our experience of helping friends and colleagues who found themselves in financial difficulties. We found that as long as we were able to take a more creative approach to solving financial problems, there were more solutions out there than most people realised and things were often less desperate than our clients think. There are many reasons for wanting to sell your house fast:
- Financial Difficulties
- Divorce or separation
- Trading up or trading down
- Ill health or retirement
The two main options we normally offer clients who really need to sell quickly, are 1. immediate purchase at a discounted price (often the best plan if there is sufficient equity in the property), or 2. purchasing the option to buy at current market value, but completing at a later date (possibly in 3 to 5 years) and in the meantime, taking over legal responsibility for both the mortgage and for maintaining and letting the property.
Options to buy at a later date
This is our most popular option for a. clients with little equity in their property, b. those who don’t necessarily need all the money now, but want to move on quickly or c. those owners who want to move now (perhaps to buy another house), but do not want to accept a ‘below market’ offer. In these cases we purchase the option to buy their property at a later date.
A typical example of this on a house valued at £200k in the current market and whose owner has mortgage arrears and credit card debts to pay, but is finding it difficult to sell his/her house at anything like its current market value. He might sign over to us an option to buy at full current market value, but in five years time. In exchange we take over legal responsibility for his mortgage and arrears, sometimes give the seller a cash advance to pay off credit card debts. The owner is then able to walk away from that mortgage, possibly to buy another house elsewhere.
Immediate purchase at a discount rate
Some clients prefer to get shot of their mortgage and property in a single clean transaction, but in a still uncertain market, this normally involves selling at a discount. In many cases we will be able to buy your property immediately, usually within 2 weeks, and we will always promise to to offer the best possible price for that property in current market conditions.
Every case is unique and there are as many possible solutions as there are clients. We always strive to find a solution that is profitable to us, but also provides our client with the best possible solution available. The only good deal is a deal where both parties leave happy.
The important thing is a. to avoid the financial loss, upheaval and stress of repossession and the consequent effect on your credit rating and b. to take action to avoid any slide into unmanageable debt.
Whether or not you wish to sell your home: contact us now for free support and advice, but be aware that we are neither qualified Independent Financial Adviser or FSA registered brokers, merely investors who have seen (and helped) people in the past and who know that there are many ways to release the equity in your home if you really need or want to.