Cash House Buyers: The Repossession Killers
Repossession figures are on the rise and a quick sale to a cash home buyer may be the only answer if your debts have got out of hand. It can start slowly, with missing a mortgage payment. Hundreds of thousands of us do this at least once each year, cutting back on the mortgage so we can splash out on Christmas presents or a special occasion.
Some of us have difficulty with store cards, credit cards and loans. It’s easy to say yes to that additional 10 per cent off at the till, but less easy to meet the store card repayments when the discount has ended. Credit card debt in the UK is some of the highest in Western Europe and overall consumer debt is well past the 1 trillion mark. It’s no wonder that there are many people wondering: ‘Should I sell my house to repay my debts?’ or ‘Is there someone who will buy my house fast?’
Arranging A Quick Sale
If you’re facing repossession, then getting the answers to those questions is urgent. You need someone who will fix up a quick sale. Selling your house in the UK can be a time consuming process, with some home buyers pulling out at the last moment because they’ve found somewhere else. Other homebuyers may find that there’s a problem higher up the chain, which may make it more difficult for you to sell your house. The process isn’t fast, taking anywhere from three to six months from the time you put your house on the market. If your creditors are threatening repossession, then you don’t have the luxury of waiting for an open market sale.
Instead, you need to find some property buyers who provide cash for homes, and that’s easier than you might think. Check out your local paper for ‘property wanted’ ads or look online to find cash house buyers. You’ll soon be able to sell your house. All you need to do is call to arrange a valuation.
The cash home buyer will assess the local property market, the value of neighbouring properties and the condition of your own property to arrive at a valuation, which won’t cost you anything. This is similar to working with an estate agent, but what happens next is very different. While the estate agent is still preparing the particulars, your cash property buyers are getting a written offer ready and you’ll have that within a day or so. Then all you have to do is accept the offer and the process starts.
Avoiding Repossession
With repossession proceedings, you have a little time before you actually have to hand over the keys, so if you start the quick sale process early enough, you can avoid having to leave your home. The cash home buyers will help you to inform your creditors that a sale is underway. This is usually enough to halt proceedings as they are more interested in getting their money back than taking your home. Selling houses this way is very quick and you will soon be on a firm financial footing.
If you’re wondering: ‘How long will it take to sell my house?‘, the answer is less than a month. A typical sale takes about four weeks, but cash home buyers can agree a sale within a couple of days if that helps you. Property buyers want to make sure that your timetable is met, so just ask if you need to move more quickly, or if you prefer to delay the sale by a couple of weeks. Whatever your timetable, you’ll soon have cash in hand to repay your creditors and sort out your finances.
But what happens next? If you’re thinking: ‘If you buy my house where will I live?‘, then there’s an answer for that worry, too. Ask if the company who is buying your house for cash has a sell to rent deal. Here’s how sell to rent works. When you get your cash offer, you also get a rental figure that is in line with the rest of the market. All you have to do is accept this and then you can remain in your home as a tenant once the sale completes. You’ll get a tenancy agreement, which can be as short or as long as you wish, and your rent will remain in line with the market for as long as you remain in your home. No more mortgage, no more debts, no disruption and it’s totally discreet. These are the major advantages of using cash house buyers.
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