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How to sell your house in negative equity?

Posted in House in negative equity, How to sell my house quick | 0 comments

Selling a house in negative equity?

A young couple contacted me with a question of how to sell your house in negative equity. Their story is not unusual:  they bought a flat in a new development in Swindon a few years ago and since then the flat has lost it’s value by about £15,000.  With a new addition, the family has outgrown the flat and they really need to move into a house.

They have tried to sell the flat the traditional way, but soon realised that the flat dropped in value since they bought it, so based on the current market value it’s now in negative equity.  How to find out if your house is in negative equity. 

What are your options?

So what are their options?  Renting?  That’s a possibility, but they really don’t want an extra responsibility.  What if the tenants don’t pay?  What about maintenance and letting agents bills?  They really can’t afford any more expenditure.

Another option is to sell the flat at market price.  However the negative equity is about £15,000…   Even if they find a really good buyer, they are still looking at paying £10,000 out of their pocket, which they just don’t have.

They truly felt stuck wondering about how to sell your house in negative equity. All the developments which were built a few years ago are in a similar position right now. Houses and flats have dropped in value and many of them are in negative equity. Similar to this couple other homeowners around the country are struggling to sell and can’t see a way out.

Can you sell your house in negative equity?

We specialise on buying property in negative equity. When people feel they are stuck like this couple, we are happy to offer a solution. We can buy your house because we are prepared to wait for a while until the property prices go up again, so the house or a flat will get out of negative equity.

So, if you are in a similar situation and need to sell your house in negative equity, then get in touch.

 

“We believe there is a solution to any property problem and we can help you to find it.”

To your happiness

Dasha