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What to do with your house when moving abroad

moving abroad blog

A lot of preparation goes into moving abroad. This preparation includes researching the climate of the destination country, researching the people of the country, and ensuring that all work arrangements are properly completed.

If someone owns a property and they are moving abroad, the arrangements they make need to be more thought out. The reason for this is that although we are all free to do what we want, the fact remains that we are always responsible for our homes. For example, wherever a person moves to in the world, they will always need to their mortgage, council tax, and utility costs.

Selling your property when moving abroad

With all the stress of moving abroad, many people decide against the headaches of managing a property remotely, and so they decide that selling their property is the best option. This is a god option so long as you don’t leave it to the last minute. Property sales take a long time, as so there is a risk that the transaction will stretch out much longer than normal if you move before the property is sold. The best way to deal with a situation like this is to make sure that all sales arrangements are completed before you move.

Renting your property out when moving abroad

For various reasons, people moving abroad sometimes decide to keep their homes. Reasons for this include sentimental attachment to the property and the move being for too short a period to warrant a sale.

If you are moving abroad and decide to keep you property, renting it out is a very good option. The reason for this is that the tenant will be able to pay all or a portion of your mortgage, and this will ensure that you will not have such a financial strain placed on yourself.

If you chose to rent out you property when moving abroad, it is important to ensure you vet the tenant(s) in order to make sure that your house is in safe hands while you are away.

Moving abroad is something people do for many reasons. Some of these reasons include the search of a new life in a far-off land, being transferred for work, or an extended vacation. Regardless of the reason, making sure to make the right decision about your house is a very important action.

How will the sell home quickly industry be effected by the upcoming tax increases

sell home quickly industry blog
The sell home quickly industry encompasses local and international investors who buy property throughout the UK. These companies and individuals play an important part in the market because they enable sellers to sell their properties in a swift and efficient manner. However, due to recent tax changes, things could be changing.

As of April 2016, anyone buying a second home for personal use or investment purposes is subject to a 3%  This tax means that buyers will have to pay an additional 3% charge. The reason for the tax is to deter foreign buyers and investors inflating property prices, thus preventing first-time buyers from getting onto the property market.

There have been mixed reactions to the new tax. These reactions have ranged from joyous first-time buyers to concern from the sell home quickly industry. First-time buyers are happy because they think the new tax will help them get onto the property market. On the other hand, members of the sell home quickly industry are concerned about what effect the tax will have on them.

Property professionals have speculated about the effect the new tax will have on the property market. Some of these professionals have stated that because the tax may inhibit investors, the result will be stagnation or decrease in the property market. However, there are additional opinions stating that property values may increase as a result of first-time buyers being drawn to the market.

There are several trains of thought regarding the Land and Building Transaction Tax. However, the only way to know what will happen is to watch the property prices and buying patterns after April 2016.

The sell home quickly industry is a required niche within the property market, and regardless of the effects of the April 2016 tax increase, it will remain a required industry.

Fallen oil prices and the effect on cash homebuyers

cash home buyers

Cash homebuyers play an important part in the housing market. Cash homebuyers do not require bank financing and so are not constrained by down valuations and other stipulations lenders dictate. In addition, some properties are simply not mortgageable and need to be bought with cash at least from the outset.

Cash homebuyers and current oil prices

Many media outlets are speaking of the fallen oil prices that have gripped the global economy like an anaconda on its prey. But how does this situation relate to cash homebuyers. The relationship between plummeting oil prices and cash homebuyers are very much linked. Cash homebuyers do not require a mortgage, and so do not rely on bank valuations or lending requirements to dictate the price they can pay for a property.

It is well understood that the rise in UK property prices has been due to foreign investment. Much of this foreign investment has come from countries whose economies are highly oil dependent. As a result, the falling oil prices risk creating a situation where people from these countries will not be able to afford to pay large sums of money for the property.

A blip in the market?

Similar to the recession of 2008, market go up, and markets go down. Many economists are speculating about whether the drop in oil prices is due to a simple blip in the markets. Regardless of how long the oil prices stay low, there is a question about whether fallen oil prices will discourage cash homebuyers.

Oil-rich countries owe a lot of their wealth to the price of oil, and the fact that they have this important resource naturally available to them. However, if the price of oil remains low, then there is a risk that people from these countries will not want to buy foreign property while they wait for the oil prices to improve.

There is no way of knowing what will happen to the current oil prices. However, the fact remains that the markets go up and down, and so, we all have to wait and see what happens.

Sell property fast due to a divorce

sell property fast due to divorce

Divorce is a major reason to sell property fast. Along with the sad feelings that come with the end of a marriage, there are many financial implications. Since most people’s largest asset is their home, it is no surprise that special consideration must be taken to sell property fast in these circumstances.

Here are the top 3 things to consider if you need to sell property fast due to divorce:

1. Confirm the bottom price both sides will accept for a sell property fast solution.

Arguments and disagreement are to be expected during a divorce. However, if both sides want to sell property fast, they need to come to an agreement about the bottom amount they will accept for their property. Buyers are put off if they realise that the offer which they thought was accepted was refused by the ex-spouse of a seller. Often times, alleviating the mental anguish of a broken relationship can be worth a sell property fast solution. However, in order for this option to work, all parties whose names are on the deed must agree to the selling terms – which of course includes the selling price of the property. In cases where the sadness and pain of divorce are too much to allow both sides to agree on a price, couples counselling may be a way to begin communicating again to achieve a sell property fast solution.Employ a solicitor with experience in the sell property fast sector.

2. Employ a solicitor with experience in the sell property fast sector.

Most people who are getting divorced want to be out of the marriage as soon as possible. This means that a sell property fast solution may be required if they want to move on with their lives . The home is the highest value possession of most people, and so, it is essential that a divorcing couple have a fast solicitor who can expedite the selling process. The best place to find a solicitor is through the law society website. The law society provides details about the closest solicitor to you, as well as reviews of the law firm.

3. Selling a property is permanent.

A decision to sell property fast due to divorce is an important decision which both sides need to understand. This means considering whether there is any chance that the relationship can be salvaged, because if there is, and the property is sold, the couple will need to find a new home.

By the time most people are divorced, they have undergone several attempts to save the marriage. Therefore, their decision is one that is based on a lot of thought.

There are many emotions that take place during divorce. Many people find that the best way to move on with their lives is to cut all ties with their partner as soon as possible so that they can begin to heal. Either way, deciding on a sell house fast solution during divorce is a personal decision both parties must come to.

 

 

 

 

 

Stop house repossession immediately and how to do it

stop house repossession

How to stop house repossession

There are several ways to stop house repossession before the lender takes your home. Here are some of these ways

1. Stop house repossession before it goes to court

 All mortgage lenders must follow due process before they repossess a property. This due process includes:

  • Telling you how much you owe on the outstanding mortgage
  • Considering a request from you to change the way you pay your mortgage
  • Responding to any offer of payment you make
  • Giving you reasons for turning down your offer of payment within 10 days
  • Giving you a reasonable amount of time to consider any proposal they make
  • Giving you 15 days’ written warning if they plan to start court action
  • Telling you the date and time of a repossession hearing
  • Letting your council know within 5 days of getting notification of the date of the court hearing, in case you need to apply to the council as homeless

Stop House Repossession even if the lender has started court proceedings

 You can stop house repossession by reaching an agreement with your lender even if they have started court proceedings to repossess.

In order to do this, you will need to attend court and tell the judge about this agreement, unless the court has advised you otherwise.

  • the court hearing, in case you need to apply to the council as homeless

Finding a solution

Even if your mortgage lender starts a court action, you may still be able to reach an agreement with them.

You’ll still need to attend court to tell the judge about the agreement unless the court tells you the hearing’s been cancelled or postponed.

2. Stop house repossession by completing the defence form

 If your lender starts house repossession proceedings, the court will send you a defence form and guidance on how to fill it in.

You can stop house repossession by using the form to explain why you think the lender shouldn’t repossess your home. You need to return it within 14 days.

The court will also send you:

  • Copies of the claim forms for possessing your home filled in by your lender
  • A court hearing date
  • The court’s contact details

3. Stop house repossession by getting help with legal costs

If you are in danger of being repossessed and you cannot afford to pay for legal costs, there are still ways to help.

 Legal aid

Legal aide is a service for people who are on low income. If you are on low income and chose to use legal aide, this may be a good resource to prevent stop house repossession.

Free legal advice on the hearing day

 You may be entitled to free legal advice the day of your hearing in accordance with the Housing Possession Court Duty scheme. You should check whether you are eligible, as it could help stop house repossession.

The scheme runs in county courts in England and Wales. It provides you with a specialist adviser on the day of your hearing who can:

  • represent you
  • help you come to an arrangement with your mortgage lender to pay off your debts and stop house repossession

Contact your local council or the court where your case is being heard in order to learn about the scheme in your area.

4. Stop Repossession by delaying eviction

There is no guarantee you will be repossessed even if you lender takes you to court.

You can ask a judge to ‘suspend the warrant for possession’. This means delaying the eviction or allowing you to stay in your home if you are able to make payments again.

A new hearing will be held, but the judge won’t automatically agree to suspend the possession warrant – it depends on what happens in court.

If you want to get a warrant suspended, get advice immediately.

 Stop house repossession by applying for a suspension

 If you want to apply for a suspension, you should fill out the application notice and either send it or deliver it to the court.

5. Stop house repossession by appealing the judge’s decision

Many people believe that once a judge has made a decision, the decision cannot be changed. However, this is not the case, and this is also true to stop house repossession.

You may be able to appeal if you think the judge made a mistake during your hearing. The best way to do this is to get legal advice so that you are able to make the best case towards addressing your concerns.

What can happen if you request an appeal?

 At the appeal, the judge can make a number of decisions including:

  • The original decision may stay the same
  • The judge may dismiss the previous decision or change it
  • The judge may order a new hearing

The judge can also decide who pays the legal costs of the appeal.

6. If you try to stop house repossession and it fails, there is still hope

If your house is repossessed, it is important that you speak with your local council in order to get help finding a new home.

In some cases, the council can even offer emergency accommodation or long-term housing. You will need to enquire with your local council and explain your situation because everyone’s situation is different.

Stop house repossession before it is too late

In an ideal world, no one would experience financial problems or any of the other reasons that can result in property repossession. However, there is hope, and if you need to stop house repossession it is important to understand that there are options to support you in your situation.

If it is not possible to stop your house from being repossessed, it is important to realise that there is always the option to sell your property to stop house repossession.

 

Five Mistakes When Selling Your Home quickly And How To Avoid Them

Selling Your Home quickly blog

Selling your home quickly is something most people do not plan to do. If we buy a home to live in, we generally live there until a significant change occurs in our lives.

Owning a property is the biggest investment most people will make. The reason for this is simple: we all need a place to live and where better to place a large sum of money than in a house or flat we can live in!

Here are some of the top five mistakes when selling your home quickly, and how to avoid them.

  1. Selling your home quickly at the wrong price

A seller’s worst nightmare is to sell their home and the following week realise a neighbouring property sold for thousands more.

Selling your home quickly can mean you may forget to look into exactly how much your house is worth. For this reason, it is important to do this when selling your home quickly.

The best way to avoid a situation like this is to make sure you know the value of your home. Sites such as Zoopla and Rightmove have price-estimate tools that you can use when selling your home quickly. Also, Rightmove offers a free historical price tool to advise you of the exact prices of properties that have sold in your area.

  1. Selling your home quickly at the wrong time of year

In life, there’s a season for everything and this includes when to sell your home. For example, Christmas is synonymous with shortbread, gingerbread cookies, and yuletide carols. However, selling your home quickly during Christmas may result in your not receiving your ideal asking price.

Home Owners Alliance recommends spring and autumn as the best time to sell your house.

Selling your home quickly at the wrong time of year can be avoided by making sure you do research into your area to know when the best times to sell are.

  1. Selling your home quickly at the wrong economic season

 As the saying goes, what goes up must come down. This statement also holds true for house prices, which often rise or fall with little warning. Unfortunately, houses sometimes need to be sold despite the state of the market. As a result, selling your home quickly at the wrong economic season can result in needing to sell a property for less than you would like.

Selling your home quickly when the property market has flattened will make it harder to get the price your want. The best way to avoid a situation like this is to pay close attention to what is going on in the property market. This way, you will be able to gauge when the market may take a turn for the worse.

  1. Selling your home quickly and not instructing a conveyancing solicitor fast enough

When selling your home quickly it is important to demonstrate follow-through. The last thing you want is to secure your property at the correct price and then have the sale fall through because you could not find an appropriate conveyancing solicitor.

Instructing a good solicitor early is very important. The role of the seller’s solicitor is to ensure that there are no irregularities in the selling process and to give advice on how to deal with such irregularities.

A good resource to use when looking for a conveyancing solicitor is The Law Society.

  1. Selling your home quickly and not presenting it nicely 

Selling your home quickly means that first impression you give a potential buyer is very important.

You don’t need to spend a lot of money on creating curb appeal, but here are some of the best ways to make buyers stop and look at your property:

  • Do immediate repairs on the outside of the house. Eyesores such as broken fences and damaged gutters should be dealt with before a viewing. Plant flowers or put a couple of designer pots outside your door.
  • Paint the house. A fresh coat of paint adds style to an otherwise tired and drab flat – creamy white is usually the best choice because it’s neutral and the buyer will imagine their furniture fitting in. Pale colours make the place look bigger and lighter.
  • Keep vases of fresh flowers around the house. Lay the table. Light a fire if it’s appropriate.
  • Maintain a clean and tidy home at all times. It might sound obvious, but you would be surprised how many clients we have met who have not followed this simple rule.
  • Take down family photos and store away souvenirs. In fact store as much as possible offsite so that there is no clutter. Put the children’s toys in the cupboard. You are allowing the buyer to imagine living in this space.

There is an art and science to selling your home quickly. The seller needs to be able to attract a buyer who is willing to pay as close to their asking price in a fraction of the time. As a result, you need to do everything you can to make your home as appealing as possible. We hope some of the tips we outlined are helpful if you end up selling your home quickly.

 

 

Sell your house and rent it back tips

Sell your house and rent it back tips

If you want to sell your house and rent it back there are several things you need to know.

Sell and rent back companies are regulated by the Financial Conduct Authority (FCA). The FCA checks whether firms stick to all the rules and makes sure they meet certain standards. It also means that there is a complaints procedure you can go through if things go wrong.

Here are some rules that sell and rent back firms must follow:

  • Sell your house and rent it back companies aren’t allowed to drop promotional leaflets through your letterbox.
  • Sell your house and rent it back companies must check you can afford to enter into an agreement with them and how that might affect your entitlement to benefits
  • Sell your house and rent it back companies must give you a fixed term tenancy of at least five years
  • Sell your house and rent it back companies must arrange for an independent valuation of your home if you haven’t already got one
  • Sell your house and rent it back companies must give you a cooling-off period of 14 days to give you more time to decide what to do.

If you are thinking of signing a sell your house and rent it back company, you should check that they are listed on the Financial Services Register. You can check the register on the FCA’s website: www.fca.org.uk.

Potential problems with sell your house and rent it back schemes:

  • You may be offered less money than if you were selling your house on an open market.
  • You may have little security of tenure after the initial fixed term of tenancy, that you agreed on sale, comes to an end you will be vulnerable to eviction, as your new landlord will have the right to terminate your tenancy at the end of the fixed term (usually for five years).
  • Your rent may equate to the same amount as your current mortgage payments.
  • Your landlord may increase your rent, which can result in you accruing arrears even after the sale.

We don’t mean to scare you by outlining these risks. However, these are things you need to consider if you want to sell your house and rent it back.

Sell your house and rent it back companies have to be clear from the outset about risks that you may face. This is so that you can make an informed decision about what is right for you.

Selling your property can be stress, and it can be even more stressful if you are selling your property as a last resort. The decision to sell your house and rent it back is usually made because the seller needs to sell their home, but would rather they continue living in the property. Sellers who are in this situation needs to be treated sensitively and have their options clearly outlined for them. However, in the end, it is up to the seller to decide if a sell your house and rent it back solution is right for them.

 

 

 

 

Fast property sale renovation solutions

Fast property sale renovation solutions

A fast property sale is something many people require for one reason or another. These reasons include moving abroad, inheriting a property, as well as marriage breakdown.

If you need a fast house sale, and the property you are selling needs renovating this can negatively impact the price you can achieve.

Cash buyers who buy property fast take into account all aspects of a property they are buying, and they will reduce their offer price based on the amount of money it will cost to put the property they are buying in good order.

Renovations to secure a fast property sale

Re-painting the interiors walls for a fast property sale

A new paint job can do wonders for a property, and these wonders can result in a fast property sale.

According to home improvement professionals, painting a property with neutral and cream colours will achieve the best results for a fast property sale. The reason for this is that neutral wall colours better allow potential buyers to more easily envision themselves living in the property.

Replacing the carpet and flooring for a fast property sale

The flooring in a property is a key factor to its overall appeal. For example, Worn and dirty floors can devalue a property – which is not ideal for a fast property sale.

The good news is that it is not that difficult or expensive to replace the flooring and carpeting of a property. Against, as with painting walls, it is best to stick to a neutral colors when flooring or carpeting a property you want to sell.

You can pick up good quality carpets from Carpet Right for £.2.99/M2. Carpets at this price are  inexpensive, and will ensure your property is presented in the best light possible for potential buyers. Always remember, the key to achieving the best price during a fast property sale is to give buyers as few reasons as possible to lower their offer.

Carpet Right also has good value vinyl flooring as cheap as £8.99/M2. Vinyl flooring is important in kitchens and bathrooms. So, be sure to use the correct flooring in the area of the house which you are working on.

Fast property sale by enhancing outdoor spaces

Curb appeal is an important factor when selling a property. If a buyer sees an unkempt garden or a fence in disrepair it can put them off from even viewing the property. So, it is important to be mindful of outdoor spaces for a fast property sale.

If you need a fast property sale and have outdoor space, it is important that the garden is tended, and nothing is left visibly in disrepair.

 

 

What do house buying companies do after purchasing a property?

 After house buying companies have purchased your property

House buying companies are known for helping people who need to sell their properties fast. However, what’s in it for them? No business can survive on philanthropy alone. Therefore, it is a valid question to ask: what happens after house buying companies purchase a property.

Here are 3 things house buying companies do with properties they purchase:

1) House buying companies may purchase property, renovate it, and then sell it on

In an ideal world buying a property, renovating it, then selling it for a profit would be a walk in the park. However, there are a lot of factors house buying companies need to consider to ensure they are making a good investment.

House buying companies need to be sure that anything they purchase will make them a profit. For this reason, house buying companies must be very good at researching sold house prices and renovation costs to determine what kind of profit (if any) can be realised from a property purchase.

2) House buying companies may purchase property to rent out

It is a common misconception that landlords make huge profits. However, this is far from the truth.

House buying companies are responsible for the maintenance of their properties, and this can be costly. As a result, landlords need to always be mindful of the running costs of their rental properties.

Failing to adhere to legislation is another way landlords can become unstuck. For example, from October 1, 2015, there is new legislation requiring all landlords to put fire alarms in all their properties. As a result, house buying companies that do not adhere to such laws face fines and even criminal charges.

There are substantial penalties for house buying companies that do not manage their properties appropriately. This reality is in stark contrast to many media reports stating how easy it is to be a landlord.

3) House buying companies that purchase property and build a house in the garden 

 Most people think that buy 1 get 1 free only applies to supermarket checkout aisles. However, house buying companies also apply this concept when they buy a property and build a house in the garden.

Some house buying companies buy property with large gardens and build a separate house there.  House buying companies that do this benefit from having only spent money on 1 property and ending up with 2 properties after the 2nd property is built. However, like with everything, house buying companies need to be very diligent when deciding to make such purchases.

 

 

 

 

House Buying Companies Vs Estate Agents. Who to choose?

 House buying companies

House buying companies have become more and more popular in recent years. According to the national charity, Shelter, at the end of September 2013, there were more than 195,000 mortgages in the UK, which were more than three months in arrears. This statistic is alarming, and it highlights and important fact that people who need to sell their properties fast due to financial reasons require more flexibility in how they choose to sell. As a result, house buying companies offer viable options for such people. 

When people think to sell their properties they will often first speak with an estate agent to get an idea of what their property is worth, and how long it will take them to sell their property. An article in the Landlord Blog explains why you should sometimes be cautious when selling a property through an estate agent. The a­­­­­­­rticle, entitled, ’15 Reasons Why Estate Agents Are Idiots’ cautions sellers about choosing the wrong estate agent. I think the article raises some good points and suggestions in order to decide whether to go with an estate agent or a house buying company.

Here are some pros and cons of selling through an estate agent

Pros:

  • The agents will show your house to potential buyers, and negotiate on your behalf.
  • Estate agents can give you advice and guidance to set your sale price.
  • The estate agent can give you tips on any necessary renovations or changes to your home to get the best price.

Cons:

  • There have been reports that some agents do not pass on all offers to the seller because they are holding out for a higher offer – which would mean a higher commission for them.
  • There is a serious risk of purchase breakdown if the agent does not verify that a potential buyer has the necessary deposit funds and a mortgage offer.
  • There have been cases where estate agents have down-valued properties in order to sell cheaply to family and friends. When selling to a house buying company you are guaranteed something like this would not happen because the house buying company are the end purchaser of the property.

When reviewing the risks of dealing with estate agents it is no wonder why house-buying companies are becoming more and more popular.

Benefits of house buying companies:

  • Avoid the headache of multiple viewings. Most house buying companies will make you an offer once they have seen the property.
  • Constant communication. House buying companies purchase property direct from the seller. For this reason, there is less likelihood of communication breakdown, as there is no middleman.
  • No bidding wars. Often times, properties sold by estate agents can result in bidding wars. This may sound good for buyers, but often times, bidding wars put off buyers who want a more certain purchase. House buying companies agree a sale price from the outset, and this price never changes. Therefore, there is no risk of bidding wars.
  • House buying companies can act a lot faster. One reason is that they are dealing directly with the seller. As a result, the seller and the house buying company can address any concerns about the sale as required.

At the end of the day, it is up to the buyer whether they chose to sell their property through an estate agent or directly to a house buying company. However, it is important to remember that each decision is made on a case by case basis, and we always encourage our clients to shop around before agreeing to a sale price.

 

 

Selling a probate property and what you need to know

selling probate property blog post

Selling a probate property is a necessary part of dividing the estate of a deceased person.

Probate is a legal document. Receipt of probate is the first step in the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person’s assets under a will. A probate court decides the legal validity of a testator’s (person’s) will and grants its approval, also known as granting probate, to the executor. The probated will then becomes a legal instrument that may be enforced by the executor in the law courts if necessary. A probate also officially appoints the executor (or personal representative), generally named in the will, as having legal power to dispose of the testator’s assets in the manner specified in the testator’s will. However, through the probate process a will may be contested.

As the old saying goes, the only things we are guaranteed are death and taxes. When it comes to probate property, there are often many parties involved stating that they have an interest in the deceased and their belongings. However, it is only the executor of the will who has the authority to administer the will. However, it although the deceased may have identified an executor, the executor is under no legal obligation to accept the role of the executor – in which case another executor will need to be identified.

When selling probate property it is necessary to understand that Executors “step into the shoes” of the deceased and have similar rights and powers to wind up the personal affairs of the decedent. This may include continuing or filing lawsuits to which the decedent was entitled to bring, making claims for wrongful death, paying off creditors, or selling or disposing of assets not particularly gifted in the Will, among others.

Due to the pressure of being an executor, as well as the related costs of winding up an estate, many executors chose to sell a property as fast as possible.

Some ways executors chose to sell a probate property fast are: (1) auctions; (2) through estate agents; (3) and by selling property fast to cash buyers.

Property Resolution focuses on method number 3, and we think this is the best option. The reason for this is because if someone wants to sell property fast, they need someone who can buy property fast for cash. Property Resolution can buy property fast for cash, and this would greatly benefit an executor looking to sell a probate property fast.

Click here If you would like a no obligation cash offer to sell your property fast.

If you or want more details about selling your property fast for cash, or about any of our other services, you can call us or email us:
Phone: 0207 754 3563 or Email: info@property-resolution.co.uk

Sell your house fast in the current mortgage market

sell your house fast blog
The Bank of England has recently released its quarterly report on the trend in mortgage lending. It goes without say that the results of this report are in line with current downward trends in UK mortgage provision. But what does this mean for people wanting to sell their properties quickly?

If you want to sell your house fast you need to be aware of the mortgage which your potential buyers will face.

If you want to sell your house fast it is important to understand that most of your potential buyers will be using a mortgage to purchase your the property. For this reason, as a buyer, you need to pay close attention to the bank’s appetite to lending.

Banks simply do not want to take risks with first time buyers as well as those with buy-to-let properties which do not make stack financially.

There are 2 schools of thought about the way things are going with lending. On one hand, hard core investors argue that the tightened lending criteria are good because it eliminates risky customers. However, there is the second school of thought which states that the stringent lending criteria is only harming the lenders and slowing the already turbulent economy.

Our view is that extremes of any kind are not good. So, overly stringent lending criteria can have an equally negative effect as sloppy lending criteria. It is possible for lenders to be confident that they are lending to clients who are able to maintain their debt, while ensuring that the economy does not turn to molasses. We think the way to accomplish this is for lenders to understand the unique situation of each client in order to score them on a case by case basis.

Property Resolution understands the complexities that the current banking system poses, and we are prepared to act!

This means that people who cannot re-mortgage and are unable to maintain their payments can turn to Property Resolution as an option if a quick property sale is required.

Last time we checked, there is no crystal ball indicating when lenders will start playing ball. However, we at property-resolution understand the importance of selling during stringent times, and we are committed to help sell your property fast.

 

 

Cash for houses with equity exploration

cash for houses with equity exploration
Business concept isolated on white

Cash for houses is usually associated with the buying and selling of property. However, cash for houses can also apply when a homeowner applies for and attains further borrowing.

Further borrowing is when a homeowner has a mortgaged property, and they request more funds to be released. There are 2 main ways of getting cash for houses through further borrowing: (1) the homeowner approaches their current lender and asks for additional funds; and (2) the homeowner approaches a different lender and requests additional funds.

Before the credit crunch lenders were providing further borrowing up to and over 100% of the value of the property. However, this is no longer the case, and many lenders will only provide additional borrowing with loan to values of 75% and under.

For many people in need of a financial lifeline, cash for houses through releasing equity can be a godsend. However, many are finding they are not eligible for this because of the stricter loan to value criteria that have been introduced.

In situations where people need money and cannot get cash for their homes by releasing equity, there can be a problem. Some people use credit cards and hope they can pay the money back in the future. However, this can be risky for the borrower because credit card interest rates are high. Furthermore, other people may rent out spare rooms in their properties in order to get cash for homes in this way.

If all else fails, many homeowners sell their homes and downsize in order to get the cash for houses they require.

Fastest way to sell your house that needs renovations

 Fastest way to sell your house that needs renovations blog post

There is not just one fastest way to sell your house that needs renovation. As a result, we will go through a few different methods.

(1) Fastest way to sell your house that needs renovations by doing the work yourself.

Properties that require renovation can detract buyers. Buyers looking for “turn-key” properties may look at a property in need of renovation as one more headache they do not want to deal with. For this reason, a fastest way to sell your house that needs renovations can involve completing the work yourself.

If you need to sell a property fast, and it is in need of modernisation, one option is to complete the renovations yourself before the property is sold. A good place to find builders and other required trades people is through the website rated people.

Rated People allows you to do the following:

  • Post your job for free
  • Get up to three quotes
  • Review ratings to select your tradesman
  • Rate your tradesman to help others

(2) Fastest way to sell your house in need of renovation by getting planning permission

As was already explained, the fastest way to sell a house in need of renovation can involve renovating it. Another way is to apply for, and get planning permission.

Getting planning permission is a good option because once a property has planning permission its value is increased because it has more potential. For example, attaining planning permission for a rear extension, side extension or loft conversion means that the property would benefit from having an increase in square footage.

People will pay more for a property they can easily add value to. So, a granted planning application would make a property more desirable to a buyer.

(3) Fastest way to sell your house in need of renovation by reducing the asking price

Sometimes, the fastest way to sell your house in need of renovation is to reduce the asking price to reflect the work required. The reason for this is that in exchange for buying very quickly, buyers may offer a lower price due to the quick speed of purchase, and the fact the property requires money to be spent to renovate it.

Reducing the asking price of a property to reflect the works required is not always the fasters way to sell your house, but it’s a good option.

Is there one fastest way to sell your house in need of renovation?

At the end of the day, the fastest way to sell your house is a personal choice. Personal circumstances, the time frame to sell, and knowledge of the property market will all play a part in the decision that works for you.

 

 

 

 

Selling your house quickly and the best tips for doing this

 Selling your house quickly

People sell their homes for many reasons. Sometimes the choice to sell is planned, and other times, people choose to sell their homes quickly.

Selling your house quickly is a personal decision. Here are some reasons why people sell their properties fast:

  • Selling your house quickly due to financial difficulties;
  • Selling your house quickly due to a divorce;
  • Selling your house quickly due to a bereavement;
  • Selling your house quickly in order to fund a move abroad; and
  • Selling your house quickly to buy a dream home

The top 2 tips when selling your house quickly

Tip #1: choosing the right conveyancing solicitor

As with any property purchase, the buyer and seller require solicitors to carry out necessary searches and checks. Another important role the solicitor has is to collect monies from the buyer to deliver to the seller.

The best way to find a solicitor when selling your house quickly is by visiting the law directory. Here is a link to the Law Society website: http://www.lawsociety.org.uk/

Tip #2: ensure all potential buyers can follow through

When selling your house fast, you need to ensure that the buyer can follow through. Following through means completing all paper documentation in a timely manner, and paying the full asking price for the property.

Requesting proof of funds before accepting an offer is good practice when selling your house fast. If anything, you will be guaranteed that the potential buyer can afford to buy your property.

Food for thought when selling your house quickly

When selling your house quickly it is important to remember that the buyer and seller are not legally obliged to follow through until contracts are exchanged. For this reason, even if a buyer demonstrates interest and provides proof of funds, both parties are not legally bound until contracts are exchanged.

 

 

 

 

Where to buy a house and how to make the decision

where to buy a house and how to decide

Deciding where to buy a house requires an understanding of the location you want to buy in.

The location is an important factor when purchasing a property. For example, a property may be cheap when compared to similar properties in other areas. However, closer analysis often reveals that location often plays an important part in determining property prices. More specifically, the amenities and other related factors greatly influence where to buy a house.

School catchment areas are very important factors parents consider when deciding where to buy a house. Parents want to ensure their child has the best start to life, and a highly rated school is a good way to do this. For this reason, the purchase prices per square foot of family size homes (meaning 3 bed-room or more) in sought after catchment areas are often higher than the price of 1-bedroom properties in the same area.

Where to buy a house based on transport links

Another important factor when deciding where to buy a house are transport links. For example, properties that are near tube stations and train stations are often higher priced. Conversely, properties that are far from tube and train stations are often lower priced. It is a fact that time is a very important resource, and so, the closer a property is to a train or tube station, the fast it will be to commute.

Where to buy a house based on an area’s reputation

Some communities are more prestigious than others. For example, a 3-bedroom family home directly on a busy road would be less desirable than a similar property in a cul-de-sac. The reason for this is that couples often purchase 3 bedroom properties with children, and so, there would be reservations about purchasing a home on a busy road if there are small children needing somewhere to play safely.

Noise pollution, and where to buy a house 

Another factor which should be considered when deciding where to buy a house is the exposure to noise pollution. Noise pollution or noise disturbance is the disturbing or excessive noise that may harm the activity or balance of human or animal life. A good example of this is with properties that are purchased near airports. The problem is that the homeowner will always have to deal with the powerful sound of airplanes that often vibrate properties with the sound as they whizz to and from the airport.

There are many factors to consider when deciding where to buy a home in. The most important thing is that you consider what location factors are most important to you, and then make the purchase decision on that basis.