Must sell property? If you really need to sell what do you do? There's nothing quite like a property to drag you down. We do understand this. It's not easy to turn property into cash quickly or dispose of it fast so you can be free and clear. This is never more true than now in 2010. The property market as a whole is still stagnant. It's not hard to find properties which have been on the market for anything from six months to two years. Our friends have been trying to sell a South London flat that was originally valued at £245,000 three years ago. It's still unsold at £165,000. The problem is real for property owners. The question is: if you must sell property what can you do about it?
Must sell versus want to sell?
Do you want to sell your property or must you? The difference is very real. It's important you are honest about how strong your motivation for selling really is. This will help determine your best route. The reality is that is that a number of people we speak to about their motivation for selling, can wait for a buyer. It may be inconvenient, but they can wait. Can you?
Getting a sensible price - tips
We can probably agree, getting a good deal in this context means getting a fair price that takes all the circumstances surrounding the sale into account - including the property itself. After all. If you could sell another way you would. But it's still important to get the best possible price if you must sell house or home.
Of course, it's also true that someone (a buyer) may try to take advantage of your situation. Perhaps by charging fees, or making an extremely low offer. It happens.
You can influence the outcome of negotiations.
Always ask a buyer to justify their offer and to put the offer and any terms and conditions on paper. One key point to ask about is this: are buying your house directly or trying to source a third party to buy your property?
It may not make much difference in the end which route is taken as long as the actual buyer has a track record of successful, quick purchases. We do have one caveat. Some websites are actually lead generation tools. This means they have little or no control over who may contact you about your sale. It could really be any Tom, Dick or Harry. In any event, you could always ask for a reference.
You could also pay to have your own survey done - particularly if you have an unusual property. This will avoid protracted discussions about what your property is worth if the buyer tries to lock you into an quasi-legal agreement pre-survey.
Another tip is to ask for a copy of the surveyors write-up for your property. This is a particularly good idea in England and Wales where the buyer's lender typically instructs the survey unless the buyer is paying using cash for an outright sale.
Finally, whether you choose to use your own solicitor (not always wise if you're in a hurry) or one selected by the buyer, they must be acting exclusively for you. It would be usual for the same solicitor to be acting for both parties as they would be hopelessly compromised. But it's worth checking. And if you have any queries about the offer or the terms and conditions relating to the sale you can always ask them or seek further legal advice or advice from a no-cost advice centre.
Must sell property..sold!
So you must sell property sooner rather than later? We'd always recommend you contact two or three different property buyers. This is not just to compare offers, but we think it's important you find a buyer you get on well with, and feel you can trust to do what they say they will.
Remember if you must sell property you'll be wanting to deal with someone business-like, who is open about how they work and will provide you with all the paperwork you need so you have some comfort your sale will proceed smoothly.
If your house must sell quick, call 0800 043 0669 or simply complete the form below.