Promoting Your Real estate In The Slowest Property Market Noticed In Four Decades
Thursday, January 19, 2012
It's beyond doubt that UK property sales have dropped to an almost non-existent level. Based on Hometrack, the actual number of sales predicted to complete by the end of 2011 will likely be the least number of sales during the past Forty years!
With the average number of weeks it takes to actually sell a property in the UK increasing to 9.9 weeks, and property sale values actually reducing, you may ask the question, "is there any hope for selling property at a price you would like and in a time frame that would suit?"
There is actually a solution to this 40 year low in property sales and plummeting property values for the open minded logical seller. It is certainly apparent that we are dealing with situations and problems created from a changing economy. The state of play for buyers and sellers could not be any further from how it was back in say 2007, when the economy was booming and property sales were being achieved in record times. Back in 2007 there were almost double the amount of estate agents that there are today, because there was fast easy money to be made in this field. Easy and fast commissions flowed from easy to make sales. As we know, finance was very easy to secure and mortgages were handed out to almost anyone who wanted one.
Today, as we move into 2012, there is an abundance of frustrated sellers across London and beyond, all searching for a good method of getting their property sold quickly and at a price that works for them.
Hence, what's the proper way to acquire a quick house sale at your desired rate?
Primarily, you must be knowledgeable of the challenges that are actually avoiding the majority of sales around the UK. Many of these fit into two types;
1) Potential buyers do not possess a considerable deposit. Savings are at an all-time low and below 2% of the actual population in the UK maintain 50,000 or higher in their own savings account. This means with banks expecting a deposit of 25% or maybe more, lower than 2% of the actual population have the deposit the banks are requiring on to buy a property valued close to 200,000. Additionally, with nearly 3.8 million properties all over the UK thought to be in negative equity, one fourth of UK sellers do not possess any sort of equity in their own property to pull out if ever they would sell their property today and require the cash bit for their 25% deposit to purchase a new house.
2) Secondly, quite a few buyers are unable to obtain a mortgage at the time. Even though possible buyers can potentially own and have placed the deposit, the lending criteria have grown to become so stern at this point that the majority of potential buyers don't succeed in getting finance.
So the two reasons as demonstrated above are the 2 greatest factors stopping the majority of sellers from selling. Knowing that limited availability of finance and limited deposit savings are responsible for an all-time depression in property sales, would it not make sense to offer buyers a solution that directly targets these 2 problems head on?
Lots of individuals pin the blame on the banks when it comes to the actual route the economy is at this time and since we now have demonstrated they are also to some extent liable for bad property sales. Hence, it makes sense to find a process of selling real estate that bypasses the banks and offers solutions to the 2 principal challenges identified above.
The best possible solution for sellers to sell their properties fast is to actually offer the prospective buyers a way that will enable them to buy without relying on bank finance and without them requiring huge deposits. The solution is certainly giving buyers with a payment plan which they can basically take on and repay without having the bank to actually finance it.
Most sellers already have a mortgage on their property. This means that the hard bit of securing finance has already occurred. Why make the new buyer go through this a second time and struggle to do this. How does it make any sense for the buyer to need to save a huge deposit and wait for the strict approval of the banks to get new finance, if there is already finance in place?
The great thing is that prospective buyers may now merely and legally utilize funding already presented to the prevailing seller and transfer this to the new buyer coming in. This particular new system allows the 2 major obstacles slowing property sales to beat quickly and easily. It permits sellers to leave their own properties and buyers to get into them. This technique is actually a solution to the present property crisis we're going through. We have to adapt to the problems if we're to advance ahead as previous systems and techniques that functioned in a boom time don't work in the down turn we are now in.
With the average number of weeks it takes to actually sell a property in the UK increasing to 9.9 weeks, and property sale values actually reducing, you may ask the question, "is there any hope for selling property at a price you would like and in a time frame that would suit?"
There is actually a solution to this 40 year low in property sales and plummeting property values for the open minded logical seller. It is certainly apparent that we are dealing with situations and problems created from a changing economy. The state of play for buyers and sellers could not be any further from how it was back in say 2007, when the economy was booming and property sales were being achieved in record times. Back in 2007 there were almost double the amount of estate agents that there are today, because there was fast easy money to be made in this field. Easy and fast commissions flowed from easy to make sales. As we know, finance was very easy to secure and mortgages were handed out to almost anyone who wanted one.
Today, as we move into 2012, there is an abundance of frustrated sellers across London and beyond, all searching for a good method of getting their property sold quickly and at a price that works for them.
Hence, what's the proper way to acquire a quick house sale at your desired rate?
Primarily, you must be knowledgeable of the challenges that are actually avoiding the majority of sales around the UK. Many of these fit into two types;
1) Potential buyers do not possess a considerable deposit. Savings are at an all-time low and below 2% of the actual population in the UK maintain 50,000 or higher in their own savings account. This means with banks expecting a deposit of 25% or maybe more, lower than 2% of the actual population have the deposit the banks are requiring on to buy a property valued close to 200,000. Additionally, with nearly 3.8 million properties all over the UK thought to be in negative equity, one fourth of UK sellers do not possess any sort of equity in their own property to pull out if ever they would sell their property today and require the cash bit for their 25% deposit to purchase a new house.
2) Secondly, quite a few buyers are unable to obtain a mortgage at the time. Even though possible buyers can potentially own and have placed the deposit, the lending criteria have grown to become so stern at this point that the majority of potential buyers don't succeed in getting finance.
So the two reasons as demonstrated above are the 2 greatest factors stopping the majority of sellers from selling. Knowing that limited availability of finance and limited deposit savings are responsible for an all-time depression in property sales, would it not make sense to offer buyers a solution that directly targets these 2 problems head on?
Lots of individuals pin the blame on the banks when it comes to the actual route the economy is at this time and since we now have demonstrated they are also to some extent liable for bad property sales. Hence, it makes sense to find a process of selling real estate that bypasses the banks and offers solutions to the 2 principal challenges identified above.
The best possible solution for sellers to sell their properties fast is to actually offer the prospective buyers a way that will enable them to buy without relying on bank finance and without them requiring huge deposits. The solution is certainly giving buyers with a payment plan which they can basically take on and repay without having the bank to actually finance it.
Most sellers already have a mortgage on their property. This means that the hard bit of securing finance has already occurred. Why make the new buyer go through this a second time and struggle to do this. How does it make any sense for the buyer to need to save a huge deposit and wait for the strict approval of the banks to get new finance, if there is already finance in place?
The great thing is that prospective buyers may now merely and legally utilize funding already presented to the prevailing seller and transfer this to the new buyer coming in. This particular new system allows the 2 major obstacles slowing property sales to beat quickly and easily. It permits sellers to leave their own properties and buyers to get into them. This technique is actually a solution to the present property crisis we're going through. We have to adapt to the problems if we're to advance ahead as previous systems and techniques that functioned in a boom time don't work in the down turn we are now in.
About the Author:
If you need help to pay your mortgage on your property to prevent repossession or help to sell your house quickly then visit the sellmyhousequicklyplease.co.uk website.
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