Selling a ‘problem’ property
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by: Pete
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Word Count: 325
As we go through life, we can often find ourselves in a tight spot financially. Sometimes the only option is to sell or downsize our major assets, which will usually include a property. But what happens when you live in a property which has problems which are going to affect its chances of sale?
Typical problems that can arise that affect the sale of a property include, but are not limited to:
• Properties deemed unmortgagable
• Short lease properties
• Houses which have local authority notices on them
• Repair and major works notices
• Structurally unsafe
So, you have a home which falls into one of these brackets… where do you turn?
Of course, one option would be to deal with the problems yourself before selling. If doing this, it is important to be careful when selecting contractors as you don’t want to throw money away with cowboy tradesmen. Many people in financial difficulty, however, simply don’t have the funds with which to fix the problems themselves, so another avenue must be pursued.
Many people believe that the only option for such properties is to go to an auction and opt for a cash-only sale. The problem with property auctions is that they can incur catalogue fees or auctioneers commission… which further reduce the value of your home. In addition, to auction a property you will need to have open house sessions to allow prospective buyers to view the property - this can have a negative effect on your working schedule.
There are now also various companies which offer cash for your property, with no auction/solicitor fee’s involved. They will discuss your house sale with you in order to determine the best price for the property in its current state. It is important to remember, though, when dealing with these companies to be upfront about the condition of the property. Disclosing information can lead to problems further down the line.
About the Author
If you are looking for a quick, fast property sale but don’t want to go to auction then you can contact Swift Capital who specialise in dealing with fast house sales.
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