Wednesday, July 1, 2009

Selling A House When There Are Few Buyers

By Ashley Lawrence

How do you find someone to buy your home if you want to sell it fast in the current climate?

The way most homes are bought include getting a mortgage from a bank, loan company, building society or mutual. However in these very heady credit crunch days, this has become almost impossible to do without either a very large deposit and an impeccable credit history.

As bank repossession of homes increase month on month, home owners who wish to sell a home, can be heard faintly crying on the wind, when will someone buy my home? If their bank is trying to foreclose on the property, homeowners may find that they are able to stop eviction if they get a quick house sale.

Though some property investors are willing to wait until a property has been repossessed and buy it at a local property auction, others are willing to offer sellers cash for their property prior to the repossession. If this happens, it is like any other property transaction in that the payment for the sale will first go to pay of any outstanding mortgage and charges that may be held on the property, then the balance goes to the seller.

Buying repossession property is not for everyone however and not everyone who wants a quick sale on their property is actually in danger of being repossessed. There are lots of other reasons why a seller would want a quick sale. It really doesn't maktter, if you the seller wants to sell a home fast, you need a cash buyer, one who does not have to arrange mortgage, get surveys etc done, you want someone who has all the necessary in place already. But you need to attract them to your property and give it the advantage over others in your area.

Presenting your home in bad condition can not only harm your chances of a sale, it can also affect the price. You want to ensure that you give the buyer a better reason to buy your home, rather than one they may have already seen elsewhere.

Although other homes for sale in your area may be cheaper, this does not mean you cannot get a quick sale. You simply have to ensure that your home's advantages are maximised and that can help to lessen the impact of the price. In this way you can hopefully achieve the quick sale that you require.

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