As the news stories about the woes of the property markets continue to pile up in the media, more people are tempted to put their homes on the market in the present climate to see if they are able to sell ‘at the top of the curve’ and take advantage of the capital gains they have made in the past years of the property bubble.

While experts disagree over the size of the market ‘correction’, or the length of any downturn in the market that is likely to take place over the next few months or even years, there is little doubt that more people will be in a position where they feel under pressure to sell their property as quickly as they can. The danger is that in putting your property up for sale you will be tempted into taking a much lower offer than you should, as well as the stress of dealing with demanding buyers.

On the other hand, being unrealistic about the value of your property, the motivation of your potential buyers, and the market conditions could lead to being stuck in a situation with a property that has been extensively marketed and still does not sell, despite discounts to the price.

Some of the situations you may encounter over this period of toughening market conditions are explored here, along with some possible strategies to help you sell your property at the right time and for the right value.

Be Objective - This is particularly important when you are selling your own home, rather than any kind of investment property, but it is vitally important that you are realistic and able to take the fact that agents or buyers may suggest you sell your property for less than you think it is worth.

This does not mean that you should just give in without a fight to the first offer that comes along, when you are convinced that the property is worth far more, but make sure your position is backed up with solid facts. In market conditions as they are at present, research in the local area is even more important, and can be the key to making your sale successful. Check estate agents’ windows regularly to see what at price similar properties are on the market, as well as how quickly they move.

Also, try to compare your property to other similar ones for sale in the same area, and be as objective as you can. Essentially, these similar properties are your competition for buyers, and you need to know where your property stands in relation to them. Think about things like proximity to schools, shops and leisure facilities on the positive side, and main roads, traffic black spots and industry on the negative.

Knowing all of this, and listing where your property is stronger than most of the other similar properties on the market at the time, will allow you to price your property effectively and realistically, as well as helping in its marketing. The knowledge that your property has the best gardens of the type, or has an extension as a utility room should allow you to bring out the advantages in the details as supplied by the agent, as well as helping you to sell the property when you are conducting viewings.

Aggressive buyers and tactics - One of the biggest problems with selling with the current turbulent market conditions is that buyers will feel they are in a true ‘buyer’s market’. This means they will feel emboldened by the prospect of being more sought-after than the property they are considering buying, a situation that has not occurred in the UK for example, in at least five years. Given this fact, buyers are taking up some practices that have not been seen by vendors for a few years - some of which are just a shift in the landscape and relationship between buyer and seller, other which are a degree more unsavoury or even immoral.

One of the biggest differences that sellers will notice in the current climate is the time factor. Buyers are now far less likely to be rushed into making an offer, or improving an existing offer as they will have the impression that you need them more than they need you. While this can be true, it pays to be prepared to wait for offers and responses to come in.

Of course, this is a legitimate buying tactic in the same way that in a rising market sellers are able to make buyers wait for their responses to try to make sure they would be prepared to move their offer upwards. Buyers will feel that by holding out on making their first or follow-up offer, they are sowing the seeds to make sure that you are ’softened-up’ for a lower offer than would otherwise be normal.

Be aware in this situation of the research you have done on the right price for your property, and be prepared to stick to your guns - but not too much. While it is quite fair to ask for a fair price in negotiation, if you are completely inflexible in the money stakes, you will scare off legitimate and fair buyers.

Once you have accepted an offer for the property, there are other things that buyers may now feel emboldened to do given the market conditions. For one thing, the agreements for fittings and fixtures may go on longer and be more intense that you might expect. Again, buyers will feel that they are in a stronger position to demand that some of the items you would have taken with you remain in place or are prepared to pay less than you want for them.

In this situation you would be well-advised to try to keep the two issues separate, while the buyer may be keen to suggest that unless you move on the fixtures and fittings the whole deal could fall apart. If they continue to be stubborn on this point, and you feel that they are close to pulling out of the sale, there may come a time to make a difficult choice. If you give in to their demands, can you be sure that this is the only issue on which they will be aggressive, or will it be a signal to them that they can push you into a corner in any of the negotiations? Would you prefer to keep this sale, no matter how much you have to smile through gritted teeth, or are you confident in finding a buyer? There is no blanket answer to this, and each situation can only be judged upon your feelings at the time.

One of the more worrying trends in recent weeks has been the idea of buyers gazundering sellers. Gazundering is a process by which buyers agree a sale price and put the wheels of the sale in motion, only to demand a hefty discount on the property price at a very late stage, often just days before completion. The discount demands can be anything up to 20 per cent off the agreed price, and sellers are left with the option of either giving in to the demands of their buyers or risking losing their sale, the house they want to buy and causing the rest of the chain to collapse.

Some websites are deliberately promoting gazundering as a legitimate bargaining tool in the house buying process, and even go so far as to say buyers should have offers accepted on three different properties to maximize the chances of one of their gazundering attempts being successful. Most people will see this as a morally-questionable way of entering into a sale, but be aware that there may be some people out there who are willing to try it.

Make the most of what you have - Many of the properties that are coming on to the market at the moment are quite similar - in some areas there are so many two-bedroom apartments for sale at the moment that sellers are dropping their prices by up to £100,000 (approx $200,000) in order to attract attention from a smaller pool of potential buyers than has been seen for some years.

In this situation, the best thing you can do is to make sure that you have maximized the features of your property that are going to attract buyers and make it stand out from all of the other properties of the same type they will have viewed already. If you have a huge kitchen, make sure it is clean and tidy but that people can see you enjoy spending time in there, if the garden is 30 yards longer then the neighbouring properties, make sure it is tidy, the lawn mowed and some colour and life are evident. You may even want to demonstrate the its lifestyle possibilities by putting out garden furniture to show how it can be used.

A recent survey also suggested that spending a small amount of money on refurbishing and remodeling parts of your property can not only get you back almost the same amount of money as the investment you put in, but will also help to make the property stand out to buyers. Purely on a monetary basis, it is said that a minor remodeling of the main bathroom in a property is the best way to spend on the interior of a property, with up to 100 per cent of the investment being made back on the property sale.

Making your property ready for viewings is also important. Some say that brewing fresh coffee or baking bread in the kitchen is the best way of making an impression on people viewing the property, but nothing will stick in their minds more than a well-presented, well cared-for home. The much-vaunted ‘kerb appeal’ factor is very important in creating the right first impression and setting the tone of the viewing. Pets and clutter should both be banished for the duration of the viewing, and if possible and necessary, you may want to send the children and partner to the park for an hour while people are viewing the property.

What you really want to create in a competitive market like we have at the present time is a lasting impression on potential buyers. If you can let each of your viewings leave with a sense that they want to be in your property, and can see themselves happy there, you have won half of the battle and will have a better chance of sticking in their minds.

Think differently - Don’t be afraid to do something a little different in marketing your property to the buyers that are out there. Remember that there are always people who are looking to buy property, even if there aren’t as many as there were, or as many as you might want to see. In fact, many buy-to-let investors are looking to expand their property portfolios now as they see it as a perfect time to buy the properties they want, as well as a time when there will be more people who have to rent instead of buying themselves and getting on the property ladder.

Some sellers will see this as the right time to look into selling their property on their own, and not using an estate agent. Certainly the fees that will be saved on any purchase are a welcome bonus, and perhaps that will allow you to be a little more flexible on your pricing than someone who also has to pay their agent a commission at the end. Selling without an agent is not something that should be tackled without careful thought and preparation however, as doing things wrong will waste time and money, and will ultimately make it difficult to sell the property later through an agent if the independent route fails. Many agents will be reluctant to take on a property that has been on the market independently in the recent past, as they will feel that it has been overexposed to the market, and their chances of success are therefore diminished.

Even if you are using a real estate agent to sell, you can still get creative with your own marketing strategy. There are some wild and interesting ideas of how you can bring attention to your property sale, from having bumper stickers made up and taking out advertisements in local papers on your own. One of the more targeted approaches works very well if your property is in the catchment area of a well-regarded school. Some sellers have been known to hand out flyers at the time when parents are arriving to collect their children, as they often know someone who wants to move to the area.

If your property is particularly attractive and stands out from the crowd, you may want to consider holding an open house for potential buyers to come along. This is a particularly good idea for desirable properties - it brings in interested parties to have a more leisurely look around the property and even to take a little more time to discuss finer points with you personally, and if you are lucky it will also mean that they will see other interested potential buyers arriving to look around and spur them into making a good offer.

Don’t panic! - Despite some of the media stories to the contrary, there are still properties that are being bought and sold across the country, so there are buyers out there. They may not have the huge and easily-accessible finance options that were available a year ago, and they may not be as willing to enter into a bidding war to get your property, but they are still out there. A well-presented, loved, realistically-priced property will sell, as there will be a buyer out there who wants it.

Try to be patient in waiting for viewings, offers and negotiations - not only will you find it stressful; you will also transmit a kind of desperation to the buyer that they can use to drive your price down.

It is also a good idea to have a set of limits and a back-up plan if the market turns out not to want to buy your property in the timeframe you have in mind. Set a lower limit for offers that you will accept, a time limit that you want to lave the property on the market. Should a sale not happen, or the price you are offered is too low, consider updating and improving the property you already have - either for you to continue to enjoy, or for a fresh assault on the market.

If you need to sell quickly - Should you get to the point where you need to sell your property quickly, there are a couple of options that should at least allow you to escape from a sticky financial situation. Sometimes these options are looked down on by many in the industry, and while they do offer opportunities to those involved to make money from buying your property cheaply, they can offer sellers a way out and still give them some equity to play with.

Auctioning property in the UK has not really taken off significantly, despite numerous efforts to promote it as a good way to buy property. Some properties are auctioned, and it is often repossessed or probate properties that make up the lots. This can be a good way to make sure that you achieve a reasonable sale, so long as you don’t put an unrealistic reserve price and are prepared to accept a slightly below market value price. If you are lucky enough to have two or more bidders who are keen to get hold of your property you may get a higher price than you imagine.

Another option is to go to one of the quick sale companies in the UK market, who offer a range on service to allow you to sell your home quickly and get your money out in a short space of time. Backed by the fact that they have cash reserves, these companies are able to offer cash within days to most sellers. They make their money from buying properties below the true market value, but that is the price you pay for being able to get your hands on a significant amount of capital in a short space of time. For people who are in more dire financial straits, these companies also offer ‘sale and rent back‘ schemes to allow them to get their capital out of the property and still have their home to live in.



Rent Back Fast

As with anything in life there are high times and low times for all involved. Currently due to do increasing inflation rates and high interest rates, home owners are starting to feel the effect of the recent rate hikes and many out there are battling to make their bond repayments.

Many home owners are unfortunately being forced to sell their home as they are battling to make ends meet. Selling one’s property might seem like a simple solution when you are under financial pressure, but not in this market. Selling a property in market such as the current one is an absolute nightmare as no-one out there is currently buying due to high interest and banks requiring hefty deposits which first time buyers are simply unable to afford. To add to this, the media is continually spreading the word that now is the time to rather rent until interest rates start dropping again. This puts struggling home owners in a tricky situation as they are literally stuck with a property that they cannot afford, and are unable to flog the property no matter how hard they try.

Unfortunately at the end of day situations such as these often lead to repossession. Banks only have one route to go down in order to cut their losses and this normally means stepping in and reclaiming the property. The rate of repossessions in the current South African market has almost doubled since 2006 when interest rates were still fairly low. The current times are a clear sign of an affordability crisis caused by recent interest rate hikes and rising inflation. To add to the fact that home owners are struggling to pay their mortgage, consumers in general are under a lot more financial pressure either way due high petrol and food prices looming.

If we look at one of the possible reasons why we are facing a market such as the current one, we need to go back 3 to 4 years and examine the populations behavior. These were the times when first time buyers were hopping onto the property ladder left right and centre. Interests rates were low, petrol and food was cheap, people were spending. Banks were lending extremely leniently as people had money to burn. The problem came in where these first time buyers failed to acknowledge and prepare for the future interest rate hikes that we are experiencing currently, and as a result are now feeling the pressure. The good times are over and the struggle has begun. When interest rates were low consumers were living the high life, taking out credit cards, going on expensive holidays, buying fancy cars, and basically increasing the quality of their life style like never before.

If only the media educated us just a little bit more and at least informed consumers and first time buyers that interest rates will be going up eventually, and that these good times are not going to last forever. Instead, the media spread the word to buy buy buy and spend spend spend. This is one of the core reasons we are now seeing more home owners facing repossession than ever before.

Luckily it is not all bad, there are solutions out there to help home owners out of their problematic situation. Repossession services exist out there who are normally made up of numerous property investors and are able to buy houses for cash. These investors are able to provide the home owners with a quick sale and are often able to buy the property for cash. These investors will normally offer a discounted price on the home owners property in return for a quick, hassle free and guaranteed sale. A win win situation is created for all, the investor gets to acquire the property slightly below market value and is pleased with his purchase, and the seller is finally freed from their financial trouble once and for all. As a result the investor has also managed to save the home owners credit record which is a major benefit for the home owner. If the home owner were to be obtain a bad credit record they would normally be banned from the lending industry for at least 5 years. Even something as simple as renting a property for the home owner would be difficult as most landlords do intensive credit checks on all prospective tenants.

In addition to saving the home owners credit record, another major benefit of going with a repossession service is that they will normally allow the home owner to remain in their home after the sale in which case they would be renting it back from the repossession company. This can be very useful for the home owner as in most case the home owner wishes to remain in the home as they are normally close to schools for their children, may have family nearby etc.

As we have seen there are solutions out there to prevent repossession in a market such as the one we are currently facing. It is however important to note that should the home owner wish to go this route, it is absolutely vital that they contact a repossession company that buys houses for cash sooner rather than later. The links below might help you out of your predicament - feel free to check them out today.



Passive Income

Are you a property investor looking to acquire bargain properties? Then repossessed properties are worth looking into. Gaining popularity with many individuals, repossessions are convenient ways for investors to grab good bargains. With repossessions in the UK soaring since the beginning of the year, investors have numerous opportunities to make the most of these properties.

Benefits of buying repossessed homes

Sophisticated investors look to repossessed properties as the best type to invest in. This is because buying repossessed homes offers a number of benefits for property investors:

* Below market values (BMV). Most often you can obtain repossessed properties for prices less than their real market worth. Acquiring a property for 20% below market value is best achieved when you are able to successfully deal with motivated sellers. Due to reasons like repossession, divorce or bankruptcy, they resort to a speedy sale to enable them to resolve their financial dilemma.

* Savings. Repossessions can be acquired at a cheaper price compared to other properties. Thus you can set aside a significant amount of money which you can use towards buying another property. But you have to be certain that you buy only properties that have genuine equity and value. Property auctions are one of the best places to find a repossessed property. Of the number of properties sold at auctions, 20% are repossessed properties. New-builds in particular are going for an average 26% below the initial purchase price. I have seen some in Birmingham go for 50% below the initial purchase price!

* Best way to grow your portfolio. Since you can acquire properties cheaper through repossessed homes, you can develop your portfolio at a faster rate thereby allowing you to grow your empire quickly. To ensure that you won’t have to carry out expensive renovation work, have a surveyor examine the property before purchasing it.

How to generate profits from repossessed properties

Property investors who want to make considerable profits in their investment properties - on top of the profits made when buying BMV - may want to consider investment properties such as buy to lets. The market for buy to let homes offers great opportunities to earn profits. This is because the percentage of the UK population opting to rent has increased in recent years - and the numbers are predicted to increase in the next few years.

Another way to take advantage of the property market is to buy properties and rent them out for the long-term. You can also refurbish a repossessed property and sell for a quick profit. But if you want to truly want the best option, why not buy a property in its pre-repossession stage?

By seeking and buying from distressed sellers on the verge of losing their home to repossession, it’s not only you who benefit but also the seller. When you offer a quick sale, you are able to help the vendor prevent a repossession. At the same time, you can obtain the property at a lower price than when you bought it through conventional means.

By taking advantage of repossessed properties, you guarantee yourself a solid way of making significant profits. And due to the substantial growth in the number of repossessed properties, you now have an expansive array of property to select from. Just make sure you select them carefully.



Sell and Rent Back

The use of a credit card or a loan is a very bright perspective for many people who cannot afford to buy expensive things. Whenever you want to purchase a new car, make changes around the house or even buy a house, you can use a loan and all your dreams come true. This is the best solution considering that by paying a modest amount of money each month you can buy almost anything you need and want. However, there is a downside to loans and that is repossession.

When I am not able to make my monthly payments, the bank can come and repossess my proprieties. The loan I have taken from the bank to buy a home must be paid back according to the deal I have previously signed with the bank. As long as I keep paying the monthly installments I have agreed upon with the bank, repossession is not a problem. However, if I miss my payments then the bank can come and take my house, because they own it until I pay off all my debts to them. This is what repossession means. However, the bank has a duty towards their customers and no bank in the world will come and take your propriety without giving a couple of warnings first.

There are many solutions to avoid repossession. First of all, one must be very organized and know exactly what money he/ she has to pay and when. If you know these details, then it is practically impossible to miss your payment. However, things can happen that you have no control over. In this case, you should communicate with your bank, tell them the problems you have and try to work out an understanding with them. You must remember that a bank is not interested in proprieties, but in money.

If you have tried these solutions and you still face repossession, then there is another solution that can save you from losing your home. Money is the solution to avoid repossession, but if I am unable to repay what I owe because of financial difficulties, then I can sell my house fast and obtain the necessary amount of money to repay my liabilities. The quick sale of my home is the best solution I have to avoid losing my propriety. I can sell my house fast to a quick sale investor, generate the money I need to pay off my debts and also be able to live in the house and even buy it back when my financial status improves.

Quick sale of my house has many advantages and it is surest way of keeping my home. The most important advantage that I have when I sell my house fast is that I retain the right of renting my house or even buying it back whenever I can. This way, I can pay my liabilities to the bank, avoid repossession and not have to move out of my home. Another advantage of selling my house fast is that I can negotiate with my investor the period in which I desire to rent my house and the monthly rent I have to give. This monthly rent is lower than the loan payments or mortgage I had at the bank, so while I make the rent I can also improve my financial situation and be able to buy the home back.

Quick sale of one’s home is the best solution when they are trying to avoid repossession. They are able to pay the loan they took from the financial institution, live in their home while improving their financial situation and buy back their house whenever they want.



Repossession

In the wake of the current property crisis, homes are being repossessed by the hundreds every week in the UK alone. Many home owners are failing to make their mortgage payments every month due to a variety of reasons including rising interest rates and their fixed rate mortgage’s coming to an end leaving them with their monthly payments doubling in some cases – clearly not good news for any home owner.

While many are left in hopeless situations of which there appears to be no way out, it may well be worth their while contacting a reputable property buyer who can either offer them a very quick sale of their property (and the repossession proceedings stopped altogether) or a quick sale and rent back of their property, meaning they will have the ability to remain in their home not as a home owners but as a tenant at the same time as avoiding repossession.

Surprisingly (and unbeknown to a lot of people), the repossession proceedings can be stopped even in the very latest stages if a property buyer gets involved. These companies are experienced in stopping repossessions and manage to successfully prevent hundreds of repossessions taking place on a weekly basis, so you can be sure that if anyone can get you out of your current crisis, they can.

The one thing to look out for is to ensure you get a reputable property buyer (and I emphasize the word reputable). The bad press recently given to the sell and rent back industry has been bought about by a small number of individuals who have failed to fully explain the ins and outs of selling and renting back a property to the homeowner. Unfortunately, this has had a knock on effect on the reputable property buyers out there who genuinely want to help hundreds of people in distress to make the best choice about their current situation. You can use our comparison chart located on our website (follow the link at the end of this article) to help you to judge whether the buyer you are considering fits the criteria of a reputable property buyer.

The idea of sell and rent back is quite basic, the property owner, who for whatever reason can no longer afford to own the property they live in sells the property to a property buyer. The property buyer is different from conventional methods in that they ensure the sale completes within just 28 days (various property buyers differ, but this is our companies current time scale) and a good one will also liaise with the courts on the sellers behalf if they are facing repossession to ensure that the proceedings are stopped immediately. The courts are happy to halt proceedings in most cases as they are aware how quickly a reputable property buyer can move due to their unique purchasing and financing techniques. The homeowner then becomes mortgage free within a month and becomes a regular tenant on an assured short hold tenancy agreement. The property buyer becomes their land lord.

There has also been some bad press lately concerning the fact that a lot of property buyers end tenancy agreements almost immediately leaving the seller homeless. However, do not be deterred straight away, simply ensure that the property buyer you choose is 100% genuine and fully explains everything to you which you need to know. Do not be afraid to ask questions, you have a right to.

Any property buyer worth their salt (us included) can see the great benefits of holding on to investment property for as long as possible even throughout the current climate and beyond. The investors our own company works with actually want properties which they can keep for the long term. The current fall in house prices and rise in interest rates is actually doing the sell and rent back market (and its upcoming customers) a huge favour in that it is weeding out the ‘bad guys’ who are in it only because they once thought it was a good way to raise a quick buck. Those investors are now panicking to sell their investment properties off as they are scared they may loose money – the reputable ones are in it for the long haul, still buying and helping out those in need and not selling a single property. They know that the property market moves in cycles and always has done, and they are not worried by the short term crisis the UK is facing. As mentioned before – they want properties for the long term and do not sell at the first sign of trouble.

There are various reasons why people do choose to sell and rent back their property. Many people want to unlock the value within an asset without having to take on any extra debt. Many people may not be able to refinance (e.g. credit problems, previous bankruptcy, arrears etc) and sale leaseback is the only way to release the money and retain the use of the property. Sale leaseback also gives the previous owner the flexibility to move out and go and do other things without worrying about the property or looking after major repairs.

Here are

just some of the benefits:

1. Repossession proceedings are

stopped

2. Credit rating is not further

tarnished

3. The seller may end up with more money from a property investor as opposed to having the house repossessed and ending up with nothing

4. The seller could reduce his or

her monthly outgoings to a much more manageable level. In many cases the cost of the monthly rent following the sale is less than the previous mortgage payments were.

It is important that if you want to avoid repossession, you contact a reputable property buyer ASAP. Although they can help even at the last minute, obviously the more time you do give them the better the chances of them being able to do something for you.

In my opinion repossession should be avoided like the plague if there is any possible way it can be, and if you have equity in your property that possibility is there. If nothing else, I urge you to get a free cash offer and have a chat to an advisor about your options. As with many things in life, knowledge is everything when it comes to making the right choices.



Quick Property Sale

 

If you are facing the threat of home repossession, CroftPropertyHoldings can custom tailor solutions to benefit you in the time of need. Repossession is a legal affair and we could help you combat the situation by giving you fast release of cash if you sell your house to us, by which you could pay off the rest of the payments and avoid a court case. Repossession generally happens when the creditor seizes the collateral material when you do not fulfill the repayment norms. The buyer is given a grace period within which he would repay the debts or else his property would be repossessed after a warning being issued.

 

The best way to stop repossession is by paying your debts on time. If you are facing financial difficulties, we could offer our services when you are in distress. The easiest way to stop repossession is by selling your house. We could help you out even if you have been called for a court hearing. Our dedicated team of legal experts shall handle all worries associated with your home repossession.

What exactly is repossession? Well, it refers to taking back of an object you had submitted as collateral. In layman terms, in case of a loan, you had to submit a guarantee to the creditor and if you fail to repay the instalments on time, the creditor can seize of ‘repossess’ your property. It assumes a legal inclination and is followed by a string of other worries. But with Croft by your side, say goodbye to all your worries!

If you want to stop repossession, take our help. We can indulge in quick sale of your property. By selling your house to us, you can make use of the money to repay your debts. We also have a rent back home facility where you can sell us property and still retain your accommodation. At a later stage, once you are financially balanced, you could buy the property back from us. The funds are released immediately.

 

Just fill an online application form and one of our advisors would call you back with requisite plan of action. You are under no pressure to abide by our suggestions. We give you the means; you remain the POWER of your means! Contact us now, and we shall stop repossession.



Rent Back

When it comes to property investment, repossessed properties are a great way to reaping substantial benefits especially when bought below market value. Here are some ways you can find repossessed properties to convert into property investments.

Have you been waiting for the right time to buy your next investment property? If so, there is no better time than to do it now. The reason? The number of repossessed properties put up for sale under the hammer is rising even higher than anticipated due to financial instability. As repossessions escalate, there will be more below market value properties available for your picking.

Why buy repossessed properties?

Lenders continue to shift repossessed properties and keep selling them at low prices so they can recover their funds as quickly as possible. Property investors will continuously be able to bag significant bargains which they can add to their portfolio.

Repossessions are normally preferred because they allow investors to earn a profit by purchasing them at low prices and reselling them at a higher price that matches current market values. As a sophisticated property investor, you know that this is the secret to a good investment. And when you purchase from distressed sellers who want a quick sale, you will even earn higher returns.

Where to find repossessed properties

There are a number of ways of finding repossessed properties. The most common are through:

* Advertisements. Check advertisements provided by estate agents. Some lenders transact through asset management firms who usually choose local estate agents to sell their properties for them. These adverts are typically placed in local property papers.

* Property auctions. One of the most popular alternatives for finding repossessed properties, property auctions offer hundreds to thousands of homes sold at prices lower than their true market value. Since lenders have a legal obligation towards their borrowers not to undersell their properties, they turn repossessed properties over to auction houses.

Buying below market value from distressed sellers

A distressed seller is a homeowner anxious to sell his house quickly - even at a price below the property’s true market value. You may ask yourself why anyone would even dream of selling his property below market value. The reason is that these sellers may be:

* Embroiled in a situation where they need to sell their property quickly. Such situations may include a divorce, relocation, family and/or inheritance issues, death, or job matters.

* Frustrated because their properties have been sitting on the market for some time - some as long as four months - with no imminent sign of a sale; or,

* Engaged in other important pursuits and do not want to be bothered with property maintenance.

Property investors who have become successful in their line of business understand that the key to their achievement is to find bargain properties especially from distressed sellers. If you want to buy a property, rent it out and earn additional income, be sure to buy cheap - which is possible through repossessed properties.



Sell and Rent Back

Facing repossession can be a daunting time in one’s life. As daunting as it is, it needs to be dealt with sooner rather than later. It go’s without saying that a situation of this severity will not simply vanish into thin air if ignored by the home owner. Unfortunately many home owners do have this attitude as they simply do not know how to deal with the situation and believe that they are doomed no matter what they do. It can be an extremely emotional time in ones life and can put a lot of pressure on the home owners personal life, as well their health. However, it need not necessarily be this way.

An important thing to remember is that there is no reason to be ashamed of your situation if you’re facing repossession. These things happen in life and often the cause is due to no fault of our own. Rather than groveling and feeling sorry for one’s self, the best thing to do in a situation like this is to take action, immediate action.

Most home owners simply give up and hand the keys over to the bank, this submission can have negative consequences down the line such as receiving a bad credit record and having their name black-listed. Once a home owner receives a bad credit record or black-listing, they are normally banned from the lending industry for the next 5 to 10 years. This means that they will even find it difficult to rent a property in future because the majority of landlords do credit checks on their prospective tenants. Not only will the home owner find it difficult to rent a property in future, but they will be declined for basically any type of credit application that they apply for. This includes things like credit cards, cellphone contracts, store/shopping accounts etc

Having said the above the news is not all bad. There are steps one is able to take in order to prevent the actual repossession from taking place, and if not preventing it completely, then at least soften the blow and improve the situation greatly.

The following actions could and should be taken and would help the home owners situation dramatically:

- Contact the bank immediately and let them know of your situation, they will respect you for this and follow a more lenient and understanding approach from their side.

- Negotiate a ‘holiday’ period. This is normally a 3-6 month period whereby you do not have to pay any installments. This basically gives you time to sort your financial situation out with the hopes that you’ll be back on your feet by the time the holiday period is up.

- Negotiate a longer bond term. If you are currently paying your bond over 20 years, one could arrange to change the bond term to 30 yrs, this will decrease your bond payments to a small degree on a monthly basis.

Then last but not least, there are fortunately people out there who specialize in helping distressed home owners out of their situation when all else fails. These companies are usually property investors who buy houses for cash and are able to provide home owners with a quick sale on the spot before the banks manage to step in and proceed to repossess the property. These property investors might not necessarily offer full market value for the property, but instead will offer up to 70% of the market value for an instant and guaranteed sale. This can be the answer to solving the home owner’s problem very quickly because these investors who buy houses for cash usually understand how the banks work and are able to speak to the bank on the home owners behalf. At the end of the day it is a win win situation whereby the home owners is helped out of their problematic situation, their credit record is saved, their bond is settled and they can carry on with their lives. These property investors will even allow the home owner to rent the property back after the sale which can be extremely helpful if the home owner wishes to remain in the property. 

I’m sure you will agree this is a far better solution than sitting around and waiting for the banks to swoop in and take everything the home owner owns leaving them with absolutely nothing but a bad credit record at the end of the day. Note that it is vitally important that if the home owner decides to go this route that they contact such a repossession service as soon as possible before it is too late. The links below might help you out of your predicament - feel free to check them out today.



Sell and Rent Back

You can stop house repossession – all you need is a fast house sale. Even if lenders are attempting to take your house, this will work. It’s not unusual to ‘forget’ a mortgage payment – hundreds of thousands of us do it at least once each year. However, missing a few payments means that finances are getting out of hand. Your creditors may soon send letters threatening legal action, and this can take a toll on your personal relationships and your health. When your home is repossessed, you both lose your home and reduce your chance of getting another mortgage. You have to stop property repossession before you are kicked off the property ladder for good.

Many people don’t realise that it’s easy to stop house repossession. Ideally, you should do this before the court action starts, but even if you are about to be evicted, St Genix Fast House Buyers can help you stop house repossession. Perhaps you have been unable to agree a deal with your lender. Perhaps you didn’t face up to the letters your lender sent. Sooner or later, you will need to pay what you owe so that you don’t lose your home.

Ask St Genix To Help

We would be happy to assist you when you need to stop house repossession. It can take some time to sell your house through an estate agent, and you just don’t know if contracts will be exchanged so that you can stop property repossession. Why wait and risk losing your home? Don’t wait for an eviction order – sell your house fast, get the cash, repay what you owe and save your credit rating. We can help.

At St Genix Fast House Buyers, we buy direct and we pay cash. With our experience, we can value your home accurately and can make a fair offer. The legalities are simple and you get a guaranteed, quick sale with the following benefits:

You get the cash in a month or less

There’s no need to pay an estate agent

Legal fees are reduced

You avoid repossession

We realise that this is a stressful time for people who wish to stop house repossession. That’s why we will do all we can to help you. We’ll even go to the repossession hearing with you. When we do this for our clients, we can stop property repossession. Once you have repaid your creditors, there’s one more benefit we offer. You can rent back your home, so that you can maintain a stable environment. You get a fair market rental and freedom from further financial problems.

St Genix Fast House Buyers have expertise which we will use to stop house repossession. We will purchase any house for cash and will finish the sale within four weeks or less. We can put a value on your home within 24 hours. Call us free on 0800 316 7600 to begin.



Sell House Quick