Selling your property quickly is the aim of many people who currently have their house on the market, but when the market conditions are not at their best it becomes more difficult to find a buyer says David Sessford of Topcashoffer.co.uk.
“The government has recently launched its Help To Buy scheme aimed at assisting those looking to buy a home by paying the initial deposit, but none the less many are still finding it difficult to find a buyer quickly.” said David.
The Conservative government has tried to give the economy a boost by its new Help To Buy scheme which on the surface seems a great deal for anyone wanting to buy a house for the first time, or is looking to buy a house for other financial reasons such as those who wish to rent it out. But the question arises whether this will work as many of the banks are still suffering from the crash of 2007 and are reluctant to lend the money to those with a bad credit history. On top of this, those who are approved may still fall foul of the recession by failing to maintain their re-payments meaning that once again we could be heading for second, potentially larger property bubble than the last.
Let us not though for a moment be so pessimistic and look to how one can still quickly find a buyer no matter the current state of the economy.
The key here is to offer buyer’s a unique incentive. The Help To Buy scheme really comes into its own here as you the vendor can offer potential buyers what’s known as a gifted deposit which works by you putting your home on the market at 5% higher than the actual value of the property, and when the person comes to view the house, you can ask if they are using the scheme (most are, it is available to everyone, even those looking to purchase a second home or to just rent one out) and when they do you can say well if you put in an offer, you would be prepared to knock 5% off the asking price, which when combined with the 5% given to them by the government means that they will be being offered a huge 10% discount on the home.
A second way of offering an incentive would be you being prepared to cover all the legal fees associated with buying a property, such as the estate agent’s fees and the solicitor’s fees etc. By offering such great deals the potential buyer thinks that if you are offering it to them then you will be offering it to the other people who come to look at your house and so feel more inclined to put in an offer quickly so as not to miss out. You’re doing this makes your offer much more attractive than the other people who are selling homes just like yours in the area meaning that they will both be saving money by acting quickly plus have some extra cash left over for things such as redecoration, or even a enough for them to buy a new car or a family holiday abroad.
A third option if selling your home quickly is a priority is by approaching one of the increasingly popular cash buying companies who don’t need a mortgage, nor are part of a chain. They have the money in the bank and so can complete the sale in often as little as seven days. Use caution however as by being able to pay quickly, they also tend to offer home owners less than the true market value, sometimes by as much as twenty-five per cent. One benefit however is that these cash buying companies or individuals pay all of the associated legal costs, so depending upon how much your property is worth, this may prove to be not such a bad deal, especially considering the speed in which the entire buying process can be carried out.