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Need to sell your house in negative equity?

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

sell-your-house-in-negative-equity

Every day I talk to home owners who need to sell your house in negative equity. Home owners from all over the UK have the same problem where the debt on the property is higher than the current market price and they are unable to sell their property in negative equity on the open market via estate agents.

Need to sell your flat in negative equity?

One common example of property in negative equity is flats which built in 2008-2009, just before the property price fall. Yesterday I was contacted by a homeowner who bought his modern apartment back in 2008 for £235k, which was quite a reasonable value for the location in the city centre. Today similar apartments are selling for £155k in the best case scenario – 80k down from the original value in just 5 years! The home owner is moving his job and can’t afford to keep the apartment, as the monthly rent wouldn’t even cover his mortgage. Neither can he sell the apartment via estate agents, as he will need to pay the shortfall of 100k to the bank!  So, the home owner is feeling stuck and looking for options of how to sell your house in negative equity today and wondering who will buy my house quick.

Need to sell your houses in negative equity?

In many situations the negative equity is not as high, quite often is about £5,000 to £10,000 , however if you don’t have this money in the bank, you will struggle to sell your house on the open market.  Another common example when people need to sell your house in negative equity is when home owners raised extra loans on their homes when the property prices were rising. A loan was usually used for home improvements with a thought in mind to sell the house and pay off an expensive loan in a near future. The added pressure is that a second loan is usually has a higher interest rate, which makes a monthly payment very high.  For example one homeowner had a mortgage of  £90,000 and a loan of £20,000 with a monthly payment of £400 on each or £800 in total!

Sell your house in negative equity today.

With the negative equity of £5k to £10k, many people are trying to sell their property with estate agents hoping to get a better price to cover the shortfall between the mortgage and the house value. They keep the house price slightly higher and wait for the right buyer. Unfortunately other sellers are slashing the prices down, so houses end up sitting on the market for months and still unsold.  This is not suitable when people need to move with a new job, or separating, or decided to emigrate or struggling to pay high mortgage payments. Home owners feel stuck and unable to move on and they are looking for someone who will buy my hosue quick.

Is there a solution to this situation if a property can’t be sold on the open market?  Yes, you can sell a house in negative equity by using property systems which specifically designed to handle negative equity scenarios. Quick House Buyers are specialising in buying property in negative equity and helping people to sell your house in negative equity. If you are in a similar situation,  can’t delay any longer and need to sell your house in negative equity today, get in touch and we will help you to find a solution.

 

“We believe there is a solution to any property problem.”

To your happiness

Dasha