Are you concerned about leasehold extensions or worried about short leaseholds? Most flats in England and Wales have leaseholds, but properties with short leases on them are less desirable and can be tricky to sell. As there are always a whole load of questions that come up when leaseholds are mentioned, we’ve put together an essential guide to leasehold extensions and short leaseholds to guide you through what you need to know.
Molae Properties Blog – Articles and Helpful Information
Do you need to sell your London house fast? Whatever your reason for needing a fast house sale, we can help. Here at Molae Properties we specialise in providing a quick and easy property buying service and have been doing so since 2005.
We buy property in any condition and pay 100% cash – there are no hidden fees to worry about, no middle men and we clearly explain the process from start to finish.
Our blog is divided into the topics that most commonly reflect the circumstances of our customers. You will find these topics under Helpful Information. Within each topic you find a variety of articles containing helpful information and advice relevant to the topic matter. Enjoy!
If you’re buying or selling a house, the chances are that you may find yourself in a property chain. Property chains are common, but they’re also incredibly frustrating, as you’re reliant on every other sale in the chain working out successfully in order for yours to be okay too. In this article we take a look at some of the main causes of property chain collapse as well as some ways in which you could avoid getting stuck in such a scenario.
If you own a short leasehold London flat, or are considering buying one, is it a good move? We take a look at some of the key issues surrounding short leasehold flats and whether owning one could be problematic.
Introduction to Property Cash Buying Companies
Property cash buying companies have been around for a little over ten years. It is still a relatively new industry and it remains unregulated. As with most industries there is a mixed bag of participants ranging from the genuine professional companies to the rogue operators. A genuine property cash purchasing company will provide a guaranteed property purchase within mutually agreed timescales. The purchase should be hassle free, stress free and minimise inconvenience to the vendor. The agreed timescales may vary from just a few days to several months depending on the vendors requirements.
Whilst all companies market a “cash purchasing service” not all of them actually deliver the service they claim to be providing. Some will lock you into agreements to prevent you from selling your property elsewhere whilst offering no guarantee that they will buy your property. These agreements are usually called option agreements. It is important to stress that there is nothing wrong or illegal with an option agreement. They can provide a very workable solution for all parties. They are used across many different industries and are a recognised contract agreement. However, as with any legal agreement the devil is in the detail as to whether it will work for you!
Sell Your House Fast London
Do you need to sell your London house fast? Whatever your reason for needing a quick property sale, we can help. Here at Molae Properties we specialise in providing a quick and easy property buying service and have been doing so since 2005.
We buy property in any condition and we buy for cash without the need for a time consuming mortgage. There are no hidden fees to worry about, the process is quick and straightforward and we do not involve any middle men.
Should you sell or rent your house if you need to more due to a change in job? There are of course pros and cons involved with both selling and renting a property, so in this article we’re exploring the key issues involved to help you answer the question of should you sell or rent your house.
Relationship breakdowns inevitably cause all sorts of issues and scenarios to deal with, not least in relationship to property. What to do with the family home is likely to be one of the biggest financial decisions you’ll need to make, so in this post we’re exploring some of the key property ownership issues you need to deal with during divorce or separation and what your property rights are.
Are you concerned about how you’re going to sell a short lease flat in London? With short lease flats being less desirable to buyers and harder to gain mortgages for, it can be a worrying time when it comes to selling the property. In this post we’re exploring the key options available to you to help improve the sale of your short lease flat.
Are you a landlord or owner of buy-to-let-properties? Whether you’re an experienced buy-to-let property investor, or are dabbling to see if it’s a business that could suit you, what would you do if you found yourself in a situation where you need to quickly sell your buy-to-let properties? It’s a tricky situation and one that can be stressful to deal with, as property isn’t always quick to sell. The good news is we’ve got the perfect solution for you, so read on to find out more.
Inheriting a property from someone who’s died may sound like a dream come true, but in reality it can often be a complicated process to go through. We take a look at what’s involved with property inheritance and explain the jargon involved.
If you’ve been offered the chance to part-exchange your home, is it likely to be the right move for you and does it typically offer a good deal? We take a look at the pros and cons of part-exchanging properties and the issues you need to be aware of.
If you’ve been debating selling your London property, but are still on the fence about it, there are some good reasons why it’s worth opting to do so in 2019. In this post, we highlight the issues affecting the property market and why it could be a good idea to sell your London property this year.
The process of emigrating to live in a new country often tends to throw a few problems and stresses your way. As anyone who’s moved house knows, the path of buying and selling property can be thwart with issues – and it’s even more so when you’re moving to a completely new country. If you’re having nightmares with your emigration plans, here are some ideas for ways to solve them.
The repossession of property isn’t the cheeriest of topics to think about, but it is important to be aware of the facts when it comes to repossessed property. If you own property and don’t keep up with your mortgage payments, repossession is a real threat.
Are you concerned about selling your house? Do you want to avoid getting stuck in a long chain, or reduce the risk of a sale going through? The good news is that it is possible to simplify the house selling process, so that the stress and uncertainty are no longer part of the equation, and we’ve got the lowdown on how it’s done.
In the vast majority of cases, probate property sales occur when an owner dies and the home is then passed on to next of kin or loved ones. The main reason that probate properties are attractive is that they are often priced lower than homes on the open market. However, those looking to sell a property in this manner need to be aware of some important steps to take. Preparation is also key, for there can be times when the process is not as straightforward as it may seem. Let’s take a look at this method in a bit more detail. You can then make the most appropriate decision when the time is right.
If you’re planning to relocate for a new job, to meet family needs or to change your lifestyle, then what will happen to your old property? There are various options available, each with their own pros and cons, so here’s an insight into some of the key possibilities available to you.
Life doesn’t always turn out in the way you’d expected and even the best laid plans can come undone. Where sudden, unexpected debt is concerned, it’s likely to affect all areas of your life, from lifestyle habits and food shopping, to more important factors such as your car and property. Here’s an insight into some of the ways you can deal with your property if you suddenly experience debt, along with the pros and cons of each.
If you’re currently a buy-to-let landlord, or are thinking of investing in property to rent out, then are you up to date with your knowledge on local landlord licensing? With a growing number of councils in the UK introducing more licensing rules and regulations, it’s important to ensure you’re on the ball and in the know. Here’s an insight into what all buy-to-let landlords need to know abut local licensing.
If you’ve got a new job abroad or are emigrating overseas to be nearer family, there’s a lot to think about. We’ve got the lowdown on what you need to know if you’re selling up in the UK and moving abroad.
As a property owner, you’re unlikely to want to dwell on the issue of property repossessions. But in a world where finances and circumstances can change and tumble beyond our control, it’s best not to bury your head in the sand – especially if things aren’t going to plan financially. In fact, by being aware of the facts about property repossessions, you could even help save your home from being repossessed.
One of the common issues affecting house owner status is a sudden change in your personal circumstances, such as divorce or separation. If you’re unsure of what will happen to your property and mortgage if you’re getting divorced, read on to discover the facts.
Like many other areas of business, the property buying and selling world is full of special terminology and jargon. It all makes sense when you know what it all means, but if you’re still getting to grips with everything, it can be confusing. In this post we’re going back to basics and taking a look at the lowdown on property leases and what they mean to buyers and sellers.
When it comes to selling property, property chains are one of the biggest headaches you can face. According to research, up to one in three intended property purchases falls through, leaving buyers and sellers with no choice but to start the process again.
There are numerous reasons why property chains can break – they’re especially susceptible where chains are long and complicated with many links on the way – and it’s hard to deal with the fact that someone you don’t even know dropping out of their sale or purchase could result in you losing money, time and effort with your property plans. We’ve put together the lowdown on some of the common reasons for property chains to collapse, plus some ideas on how to avoid the dreaded property chains in the first place.
There are plenty of reasons why it’s beneficial to sell your house for cash. If you’re still sitting on the fence and unsure about taking this property selling route, here’s a guide to the top five reasons why selling for cash is a good move, both for your bank balance and your peace of mind.
1. Selling your house for cash is quick and speedy
Compared to going down the traditional route of listing your property with an estate agent, having it marketed to potential buyers, having multiple views and then, hopefully, accepting offers on it, selling your house for cash is a far speedier option. Amazingly, you could even be exchanging contracts within as little as 24 hours!
Dealing with probate properties can be a daunting task, especially when you’re unfamiliar with the process. If you’ve been left a property in someone’s will and are eventually looking to sell it, here’s a beginner’s guide to help you get to grips with what’s involved with probate properties.
What does probate mean?
Probate is the name of the legal process that you need to go through if you inherit property from someone who has died (unless you are a spouse or civil partner). The house, along with all the assets of the deceased person, have to be valued in order to validate their will.
At the end of the process, a Grant of Probate will be issued and, at that point, you’re able to sell the property if you wish. The process helps to establish the legal chain of ownership of the property and until the grant is formerly issued, the property has to remain in limbo.
If you’re looking to sell a property, then have you considered a property part exchange? It’s a useful option if you’re looking to sell quickly and takes some of the stress and hassle out of home selling. Here’s the lowdown on the advantages of opting for part exchange.
Part exchange often gets overlooked by property sellers, but there are certain circumstances where it’s definitely worth putting it on your radar. A property part exchange comes into its own particularly when you’re looking to sell your existing home and buy a new property and don’t want to hang around for ages waiting for the perfect buyer, only to then miss out on the house of your dreams.
Property TV shows and magazine articles often portray the life of buy to let landlords as a dream come true – running your own business, doing up properties and letting them for a high rental yield. But whilst sometimes this can certainly be the case, it’s by no means a given and is usually obtained as the result of a lot of hard work and dedication. If you’re currently a buy to let landlord, or are thinking of becoming one, then we’ve put together some of our top tips to help you survive – and hopefully, thrive – in the property investment business.
People sell properties for a vast number of reasons, but sometimes there are common threads involved in the reasons why you might need to sell your house fast. Here are five popular factors involved in this decision and a look at why the fast route can offer the best decision in certain circumstances.
1. Debt and financial issues
No-one ever plans to get into debt or face financial difficulties, but sadly sometimes these things happen. If your income has dropped unexpectedly, you’ve lost your job, are finding it hard to keep up with the cost-of-living in your current property or you’ve got lots of debts piling up, then selling your house fast can be the perfect solution.
If you put your head in the sand and try and ignore the situation, the chances are you’ll lose control over it and could end up with having your house re-possessed.
If you instead choose to tackle your debt and financial issues head on, by opting to sell your house fast, you remain in control.
Although London housing prices have risen for decades on end, many experts believe that we may be turning a corner during 2017. Could this be the final year of such upward momentum and can we expect a slow decline or a massive reduction in the coming months? While the opinions of experts vary, the fact of the matter is that we could be in for an interesting year. Let’s take a look at why these prices may decline and what to expect in the future. In order to make the best decisions possible when selling London property it is critical to appreciate what may occur.
There can be many reasons why you may want to sell a probate property. Perhaps it was recently inherited and you have no use for a second home. Or, you might need a probate property sale in order to share the proceeds around a number of family members. Either way, a probate property sale, like many other property proceedings, can be a bit confusing if it is not approached in the correct manner. What initial steps need to be taken? What documents will you need to have ready? How can you form a checklist to make sure that you are prepared well in advance? Let’s address all of these questions in more detail so that you can start off on the right foot.
Any landlord selling a London house with tenants needs to be aware of a few basic questions. What are the main legal considerations to take into account? Are there any documents necessary to begin the process? So let’s break these categories down into a bit more detail.
Since Brexit, the state of the London property market has been a concern for both property buyers and sellers alike. There are still a number of risks for anyone who may be considering selling a rental property during the coming year. We will first take a look at some of the predictions that experts are making in regards to housing prices. Then, we will offer a few very targeted suggestions that will help you obtain the best value for your efforts. With a bit of forethought and knowledge, you can be confident that you’ll be able to make the most informed decisions when they matter the most.
When selling a property, there are a number of things that you should be concerned with. Some of the most common include; finding the right time to market, attracting buyers, waiting for a sale and dealing with potentially expensive estate agents. Thankfully, there is a way to avoid these scenarios. In fact, you may have already asked the question “How to part exchange my house?” Let us quickly examine this process before providing you with some hints so that you will be able to enjoy the most efficient sale.
If you’re landlord selling property (or planning a sale), there are a few different factors that you will need to take into account. What are some of the issues to consider and how can you put these to your advantage? Let’s take a look at three areas to concentrate on in order for you to put your best foot forward.
According to many analysts, the London property market may very well have seen better days. While we might not be looking at the worst-case scenario predicted by many opposed to Brexit, the fact of the matter is that prices could very well flatline in the coming months. As this can make selling a home or flat a bit difficult, some owners are turning to what is known as a part exchange property scheme. This article is an introduction to pert exchange property giving you the main things you need to know.
What are the things you should look out for if you need to sell a probate property? Maybe you’ve inherited a property from a relative or perhaps you’re acting as the executor of a will. In either of these cases, it’s likely that you’ll need a Grant of Probate before you can sell. There are a number of problems that can occur along the way. So, what are the most frustrating situations associated with a probate sale? More importantly, how can they be avoided or at the very least streamlined?
There’s no doubt that the Brexit vote has had (and will have) a dramatic impact on many sectors within the United Kingdom. One of the most important areas to examine is the London property market. What trends have we seen and perhaps more importantly, what can we expect for the remainder of 2016 and into 2017? If you’re looking to sell your house fast, you should should take these factors into account so you know where you stand.
Selling a leasehold flat can be challenging; particularly when you have less than 80 years left on your existing leasehold. The main issue is that the value of your home or property will begin to lose value as the time period of the lease reduces. Buyers can find it difficult to get a mortgage from lenders and in turn, you could be left in a frustrating situation. However, you should be able to apply for a lease extension of an additional 90 years. So let’s look at the lease extension process in greater detail.
Quick property sales can be a bit challenging; particularly if you’re not familiar with all of the choices available. Whether your sale needs to take place to free up cash, or you’re relocating to another part of the UK, there are several routes which you could take. Let’s look at some of the most common options.
Part exchange plans have gained popularity due to what many see to be a stalling housing market in London. The basic principle behind these schemes is that an owner can trade in, or part exchange their existing home to a builder. In return, the value of this home is deducted from the cost of a new property. There are several benefits to part exchange plans and it’s worth learning about them if you’re looking to sell soon. So let’s look at part exchange homes and how these plans can help you get a quick sale.
We know that repairs, maintenance and improvements need to be carried out within apartment buildings and flats. These may be relatively small costs but from time to time they can be much larger. Occasionally there can be instances when leaseholders are forced to pay out ridiculously large sums of money. One particularly shocking recent case was from Oxford in early 2016. Around 50 leaseholders in an apartment block were asked to pay an eye-watering £50,000 pounds each.
While a divorce can be a stressful time in and of itself, such an event can become even more difficult when a home is involved. Unsurprisingly, this can be a confusing and complicated situation. We will start by looking at how you can protect your ownership rights. Then, we will look at the relationship between divorce and property, while highlighting some of the main factors to address during the process.
Whenever you sell an asset, the potential obligation to pay capital gains tax (CGT) is always a concern. Landlords selling houses should be aware of how this tax functions, some of the rules set out by the HMRC and a handful of exemptions which could prove to be quite useful when determining whether or not it is necessary to file. Let’s take a look at some of the principles behind capital gains tax in relation to a property sale.
One of the most important concerns you need to take into account when selling a leasehold flat is the number of years remaining on the lease. Shorter leases can lead to problems when you try to sell your flat.
If you are a Landlord there may be a time when you need to consider selling a property with tenants. While the house sale process can be challenging at the best of times. It can be even more difficult if you have tenants currently renting the property. So, what are some of the rules about selling a property with tenants? Let’s take a look at a handful of regulations and concerns that you should always take into account.
There is no doubt that we are living in rather troubled economic times. Now that the Brexit vote has been passed, many London property owners are wondering if the economy is soon to enter into bearish territory. In fact, firms such as Hermes Investment believe that we have already entered into this environment. Assuming that this is the case (or that a bear market is just around the corner), what are some ways you could speed up any home sale? Let us take a look at some top house selling tips.
If you need to sell a property after the owner has passed away, you will probably need to apply for Probate. This gives you the legal right to deal with the property of a deceased person, called a “grant of representation”. It’s important that you understand how to apply for probate to ensure things go smoothly. You need to watch out for all legal steps that must be taken. So, let’s take a closer look to try and simplify things a bit.
According to the latest figures released by the housing charity Shelter.org, the city of London has the highest number of property repossessions in the entire United Kingdom. The declining market for buyers, plus the possible negative effects of Brexit means this should come as no great surprise. If you are unfortunate enough to find yourself a victim of this process, you may be confused and frustrated. However, it’s crucial you appreciate some basic facts. Reading this article will help you understand why a document known as Court Form N244 can come in handy. If you complete it correctly and at the right time it could help you to stop (or postpone) a government-sanctioned repossession.
One of the most common online search terms in recent times is “London house prices 2016”. This is no accident since many buyers and sellers are wondering what the remainder of the year has in store. Most economists predicted a slowdown as a result of the recent Brexit vote. So what can we expect to witness during the next six months? Although nothing is set in stone, it’s a good idea to take a look at what some of the experts have to say. Then, you’ll be able to make an informed decision when the time is right.
Due to the recent economic slowdown in the United Kingdom, caused in no small part by the Brexit vote, many homeowners are concerned about whether or not they will be able to sell their property within a stagnant market. One option you could consider is a part exchange house scheme (or a PX scheme for short). These programmes allow a property owner to literally “exchange” their home and put the value towards a new property.
If you are looking for a quick property sale there are a number of factors that must fall into place. Choosing estate agents, avoiding property chains and finding the right buyer are all key concerns. You may or may not have also heard of terms known as “gazumping” and “gazundering”.
If you are unable to find the funds to purchase a new property then part exchange schemes could be the perfect solution. Also known as PX deals, these plans enable you to trade in the value of your existing home towards the purchase of a second house or property. One of the great benefits with this option is that you will not be stuck within the frustrating logistics of a property chain. Additionally, sources such as The Guardian point out that you are able to avoid hefty exchange agent fees. There are still a few things to keep in mind as well as some factors to take into account. Let’s have a closer look.
Whether you require a fast property sale due to a recent change of employment or you simply need some money on short notice, knowing how to present your home in the most appealing manner is the ultimate key to success. What are some excellent tips to keep in mind before and during the sales process? Let’s take a closer look through an easy-to-understand checklist.
For the last two years, we have seen a steady increase in house prices throughout London. However, this trend may be soon coming to an end. A handful of indicators now illustrate a weakening in the market.. In turn, first-time homeowners may now be witnessing more opportunities than in the past to obtain an affordable property within the metropolitan area. However, many feel that the ultimate trend of London house prices in 2016 is still to early to tell. What factors are behind this change and what can we expect to experience in the near future?
In the world of real estate markets, many of us have heard the term “property chain” in the past. What does this phrase mean, why is it an undesirable situation and what steps can you take to avoid such a scenario? These are all very important questions to answer. Let’s take a closer look.
It is no secret that the housing market within London has been less than forgiving in recent years. Unfortunately, things only seem to be getting worse according to some recent developments. Buy-to-let landlords are not only facing an increased stamp duty, but the tax relief which was previously offered is set to substantially fall. Let’s have a look at what these two scenarios mean for the average landlord and how 2016 could soon be shaping up.
Although it may be true that the United Kingdom is emerging from a protracted recession, the London housing market is still taking hits. Indeed, recent articles have shown that tenant evictions and repossessions are at a six-year high. While it is naturally impossible to stop repossessions completely, we are forced to wonder what factors may influence this trend and perhaps more pertinent, what might the remainder of 2016 have in store? Let’s take a closer look and see if we can find any answers to these important questions.
Do you need to obtain grant of probate?
If so, you are indeed not alone. Traditional sales methods tend to involve a lengthy amount of litigation alongside some decidedly confusing concepts that need to be understood. Let us take a look at how (and why) a probate functions and some of the associated tax implications that may also come into play.
London homes between £650,000 and £1M selling faster than cheaper homes
Let’s imagine for a moment that you require a quick property sale in London due to an impending repossession or a similar unfortunate circumstance. You have remained confident due to the fact that your current home is valued at only £300,000 pounds. So, you are not concerned in regards to a quick turnover. Unfortunately, you might very well be wrong in taking this stance. A recent article highlighted the fact that London properties costing between £650,000 pounds and £1 million pounds are selling faster than more moderately priced homes. This is actually a bit ironic considering the fact that only the richest house hunters seem to be active while middle-income buyers complain that they are being shut out of the market. This is another example of how London house prices appear to have become detached from local incomes. What does this mean in regard to a fast London house sale?
How to Quickly Sell Your London Home
The world is becoming a smaller place. As there are a growing number of opportunities for those looking for a challenge, it only stands to reason that jobs abroad are attractive options. In fact, it has been shown that an unprecedented number of doctors are taking advantage of such positions. Whether you are in the medical profession, have just learned of employment in Europe or are simply looking to change a stagnant career, such chances need to be taken advantage of immediately. The only issue is that it can be tough to quickly sell your London home with conventional means. What challenges will you face and how can Molae Properties be of assistance?
Selling your London Home Fast within a Changeable Economy
If you are like most, it is very difficult to keep up with the latest economic and housing data. One month the “experts” are claiming that London is in the midst of a veritable boom while the next month these very same analysts bring fear into the picture; alluding that the bubble could soon burst. Unfortunately, not much is expected to change in the new year.
Looking to secure a quick London property sale?
Many analysts have hinted that the London housing bubble may soon be due to burst. In fact, this may not be far off from the truth. A recent survey has found that the value of the top 2015 property sales fell by one quarter. This is great news for those who are looking to pick up a home at a highly discounted price, but what does this mean for those who may be looking to sell in the coming year? In particular, how can you secure a quick London property sale with the minimal of effort and aggravation? Let’s take a closer look.
Selling a Home fast in London
After a long and protracted recession, it seems that if we have finally turned the corner. Many analysts now predict that 2016 will be an excellent year in terms of this financial recovery. However, this can actually present some very real problems for those who are looking for a quick London house sale. Whether due to outstanding debt or a relocation, the fact of the matter is that this can be a bit of a complicated process. Let’s take a look at a few steps to make sure that this move is performed efficiently.
Selling a London Home quickly in January 2016
It seems that the holiday season is once again upon us. While many will be thinking about spending time with friends and family over the break, there are others that will require a fast London house sale. Whether this arises from the need to avoid a repossession, the inability to pay for recent renovations or the prospect of a job abroad that requires immediate relocation, the fact of the matter is that January can be an extremely challenging time for those searching for an efficient property sale. This is particularly the case when we see that many analysts have observed housing prices continuining to soar throughout London and other portions of the country. What are some of the best methods to adopt if you are set on selling a London home quickly?
Quick house sale companies do have a place in the market. Perhaps you have just learned that you owe a massive amount in back taxes. You may not be able to afford mandatory major works that will soon be carried out or you could simply wish to liquidate the estate of a recently departed family member. These are a few examples of when a quick house sale company is advantageous. What are some of the positive attributes of these firms and which policies should be avoided?
Some property owners will be happy to learn that the risks of a bursting housing bubble are seen by many analysts to be highly overstated. This could be great news for those who are casually looking to sell their home and are not in a rush for cash. However, this very same scenario (believe it or not) may very well represent a further burden upon the shoulders of those who need a quick London property sale. Although this may seem counter-intuitive, let’s look at why such an observation may turn out to be true.
To be sure, analysts within the United Kingdom have been concerned about the price of homes suddenly “bursting”, as a bubble has appeared to be growing in recent times. Is there any truth to this worry? Indeed, there may very well be a fall in home prices during 2016. According to the Financial Times, next year could be the first year when prices slow or even witness a reversal. While these projections may be a boon to the would-be home buyer, the fact of the matter is that falling prices signify a slowing market.
What is an EPC?
The EPC is a certificate which will rate on a scale of A-G:
- How energy-efficient the property is, and
- The impact the property has on the environment.
The most efficient property with the lowest running costs will come into band A. Recommendations are included in the certificate about ways to improve energy-efficiency, to save costs and environmental impact. Your estate agent is obliged to include these two ratings in the property’s sales particulars.
If you need a quick London house sale, you may be disappointed with what is in store should you choose to employ the services of a traditional estate agent. To be sure, those who are in no rush to liquidate their property may very well be willing to wait for a considerable amount of time. It is nonetheless a fact that rapid sales and estate agents rarely go hand in hand. In fact, a recent study has found that nearly two-thirds of sellers have been unhappy with the results produced by estate agencies. Some of the complaints stated included:
Are you looking for a quick London house sale? Perhaps you have recently come into money and hope to retire early; enjoying the possibilities of travelling abroad. Of course, this may represent the best-case scenario for many. It is far more common that the need to suddenly sell a house quickly in London revolves around the pragmatic need for financial liquidity or the requirement to dispose of an inherited estate. There may even be HMRC tax obligations which dictate such a sale. Unfortunately, this is incredibly difficult due to recent market figures.
There are many families and individuals that may be looking for a quick house sale in London. A professional property buying company will provide you with such a service and allow you to liquidate your property asset in a quick and efficient manner. Typically, they will offer to buy the property at between 70-80% of the true market value of the property in return for the service they provide. Unfortunately, all that glitters is certainly not gold in terms of quick house sale companies. Let’s take a look at some of the worst practices to avoid as well as a handful of tips to select the right agency.
Life sometimes throws us an unexpected change from time to time. Some Londoners will find that a sudden situation has caused them to relocate to a different part of the country or even to move abroad. In many cases, there is only a limited amount of time to settle outstanding financial obligations before the move. This can prove quite frustrating for those who are looking for a fast property sale in London. Why is it much better to choose our third-party services as opposed to relying upon a traditional estate agent?
Those who are looking to sell a house quickly in London and the surrounding areas are likely to encounter a handful of issues. First, the market is anything but forgiving. Asking prices may be difficult to achieve and we should never forget about the logistics tied up with estate agents. In fact, many authoritative sites point out that these agents are more interested in the listing and the sale; less concerned with the ultimate price provided to the customer. Therefore, it becomes clear that selling a property of someone who is recently deceased can present even more of a challenge.
We are all aware that a divorce can be one of the most difficult times in life. This Is particularly the case should a couple find themselves in the need to put the past behind them and move on. Unfortunately, this can be easier said than done in terms of the typical estate agency. This is to say nothing when referring to the need of a property solicitor or a conveyancer. These professionals will cost a great deal of money and when we consider than many couples have already spent a decent amount on their divorce proceedings, a quick house sale in London is anything but easy.
Debt is a four-letter word which is difficult for most individuals to hear. However, it is also a part of life. One of the most startling recent figures highlights this immutable fact. The 35-44 age group throughout the United Kingdom holds the burden of property debt; a massive £266 billion pounds.
However, it is also a fact that other forms of debt are likewise just as rampant. Whether referring to unpaid mortgages, credit card mistakes or simply an individual that has been out of work for an extended period of time, lenders are hardly flexible. There are naturally times when one will desire to sell a home fast in London for these very same reasons. This can nonetheless be a daunting proposition.
Life sometimes presents us with unexpected circumstances. Perhaps you have just found employment overseas. Or, you could suddenly need liquidity if your budget is already strained or perhaps you have an investment opportunity not to be missed. These are some of the countless reasons why selling a home quickly is a valuable asset to have at your disposal.
Unfortunately, the sales process can be tricky. Not only is it difficult to understand the steps that need to be taken, but being provided with an accurate valuation on such short notice is normally not possible with a traditional estate agent. This is when the services offered at Molae Properties can come in quite handy. What can you expect to enjoy when working with our trained professionals?
As jobs in the City continue to fall there is an increase in the number of people who are looking to relocate out of London.
The concept of sell and rent back is a sound one but it does not suit all circumstances. Careful consideration should be taken before entering in to such a scheme.
Securing a quick sale of your property
We are living in tricky and surprising times.
It is frankly amazing to see banks being nationalised, going out of business and stellar “brands” such as Merrill Lynch and Goldman Sachs being forced to restructure to survive.
It wasn’t so long ago that an asking price for property was more than achievable with many buyers ending up in a “sealed bid” scenario to cope with the excess demand for houses.
Inheriting a property, or part of it, should be a welcome piece of financial news in the current or indeed any economic climate.
However, the current credit crunch and the slowing down of the property market has increased the stress on families as they face the prospect of paying all the inheritance tax (IHT) due on an estate BEFORE the house is sold.
The number of homes seized by lenders jumped by 48% in the first half of this year as borrowers, squeezed by the credit crunch and rising mortgage costs, defaulted at levels not seen since the early 1990s property crash. Reported on Guardian online.
Houses are struggling to sell in the current climate. Molae Properties can offer you a quick house sale and you can have the cash in the bank within 7 days without any further effort. We cut to the chase and look beyond the condition and décor of the property.
You want to sell your house quickly. Looking at the news headlines this is easier said than done in the current economic climate. However, there are options available.
In need of a quick house sale?
Selling your property at auction V selling to a professional property cash buying company
In theory both offer the immediate sale that many people are so keen to secure. In practice the results can be very different. The route chosen will depend on individual’s priorities and the circumstances necessitating a quick house sale. A quick summary of considerations are:
You have decided that you want a quick sale of your property. In this market you are not prepared to “wait and see” what will happen by using a traditional estate agent. You are therefore thinking about finding a property cash buyer.
Who do you target and what do you need to think about?
The term “cash buyer” covers a huge range of individuals or companies. Essentially it is a purchaser who is not mortgage funded. This could be a private individual or a property company, developer or property investor.
Property cash buying companies have grown in number significantly over the past 5 years. Like all industries there is a cross section of companies operating in this space and you need to select carefully who you want to deal with. This is particularly true as the industry is to a large extent unregulated.
By simply tapping various search terms in to Google or the other search engines it will reveal a number of property cash buying companies that will offer “a quick sale”, and buy your house in a matter of days. However, what else are they offering you, what is their track record on delivering on an offer and what should you expect from them in terms of approach and terms?
These companies will generally offer to purchase your house quickly but for a discount on the “market value” of the property and/or other flexible terms such as quick exchanges and delayed completion dates.
What you are weighing up is how quickly you need to sell your home, what your financial position is and whether you can take a “hit” on the perceived market value of the property. An upfront hit may be easier to swallow if you factor in the costs of professional fees, extra mortgage payments etc whilst waiting for a sale to happen through a traditional estate agent.
We would strongly advise you to research a number of cash buying property companies and to talk to the individuals to get a flavour of the approach they practice. A few questions we would recommend asking would be:
- How long has the property cash buyer been established?
- Who in the company will you be dealing with?
- Are there any fees to pay? If there are would these be upfront or at the end of the process?
- How will they value your house?
- How does the process work and what is the time line?
- Do they need a mortgage or can they really offer a cash purchase and exchange and complete in a few days?
- What do their testimonials say about the service?
- Are the company based locally to you?
- Do they have a Code of Practice or Code of Conduct that details what you can expect from them?
- What type of contract are you to sign with them?
- Will you be advised to seek legal advice? -NB they may offer the use of their recommended solicitor. This solicitor is obliged by law to act on YOUR behalf even if the bill is paid by the cash buyer.
Once you have the answers to the above it is down to judgement as to whether you want a quick sale and to engage with a cash property buyer and who that will be.
Molae Properties are specialists in property cash buying. Our clients situations range from those simply looking for a quick house sale to those who are, relocating or facing repossession. We are able to buy your house quickly. Plus we can offer flexible terms to suit your needs such as delayed completion dates.
Visit our testimonials page and the FAQ’s to see how our service works in practice.
Alternatively please call freephone number 0800 634 5892 to discuss, without obligation.
“Just a few short words to thank you for looking after me in the sale of my flat. It was a refreshing to deal with a no nonsense company that told me all the facts and figures from the start. Having dealt with a previous company that lied and tried to rip me off just so they could get my flat cheaply Julien came round and talked me through and assisted me all the way right down to turning off the light. Although you don’t get market value I got a good deal with no hassle and it certainly saved me a lot of time and headaches. And helped me into my new flat a lot quicker. Once again many thanks.” R. Kimbell, Feltham
With interest rates static at 5%, living costs and fuel prices rocketing increasing numbers of people are struggling to keep pace with mortgage payments, and other debts secured on property.
The Ministry of Justice said 28,658 house repossession orders were made by the courts in England and Wales in the second quarter of 2008. This was up 24% on the same period in 2007 and 4% higher than the first quarter of 2008. Records show that 1.5 million people have current mortgage deals which are about to expire.
Over the past 2 weeks there has been significant commentary regarding stamp duty and whether it could be temporarily suspended to eject some much needed momentum in to the beleaguered housing market.
What role has the mortgage market played in falling house prices? Is there an end in sight to the current collapse of the housing market? “Not in the near future” seems to be the verdict.
The government has, to date, prided itself on the management of the economy and the resilience of the UK economy versus the rest of the world. Many homeowners have enjoyed unprecedented growth in house prices. Those however not on the property ladder have been forced to rent as houses and flats in many areas, once considered a good “first time buy” have simply become unaffordable.
Rising costs such as fuel and food are hitting homeowners hard and repossessions have increased dramatically as households struggle to manage monthly costs. However, many commentators argue that it is the impact of banks and building societies restricting and withdrawing mortgage products that has been the key factor in the current housing crisis.
If you are looking to sell your property in London then the hardest decision is to decide at what level to market the property. Estate Agents are clearly desperate for business and some will place a value on a property to secure the property on their books in the hope of then selling it.
However, the shrewd estate agents will not operate in this way as they need sellers to be realistic as to the value of property. Some estate agents are now simply refusing to market property outside of the valuation they are providing as nobody wants to work hard to secure an impossible sale!
Is there such a thing in 2008 as a quick house sale? The heady days of 2006/07 when houses were being snapped up for over asking price and often the subject of sealed bids is over, for now anyway. So is a quick house sale a thing of the past?
London house prices have fallen on average by around £28,000 in the last month, as the downturn in the property market hits the capital. The survey by property website Rightmove finds that prices fell by 6.8% in London, compared with 3.2% for the rest of the UK.
House prices fall in the UK for the fourth month in a row, as higher interests rates have dented homebuyers’ confidence, according to new statistics. According to property website Hometrack, the average house price in England and Wales fell by 0.3% to £174,700.
If you have decided to sell your house, these are the options available to you. The option you choose may depend on a number of factors, like how quickly you want to sell your house, or how much you are prepared to pay estate agents and others to handle the sale.
With higher interest rates and the effects of the credit crunch, homeowners face a greater risk of repossession than they behave been since the 1990s.
According to the Royal Institution of Chartered Surveyors (RICS), around 45,000 homes will be repossessed in the coming year – this equates to 123 repossessions every day.
Your credit record is used by lenders and credit providers to decide whether you are reliable enough to be given credit, and, as such, it is vital to have as good a credit history as possible. A good credit rating will mean that you will be able to borrow money, and at more favourable terms then those with patchy records.