How To Get Rid of Your House

By Subodh / December 28, 2012

As we move into the new year there will be many house owners who have been successful in selling their property during 2012 and now they will be looking for ways of selling their house. The fundamental problem is that there is a lack of adequate buyers who are in a good enough financial position to move home. This isn’t their fault, instead it’s the lenders with their limited lending capabilities who are hampering the market. Any motivated seller needs to appreciate that normal buyers have a large amount of stock to choose from and because of this the chance of them buying your house is greatly reduced. In order to circumnavigate this problem you could choose to take matters into your own hands and bypass the normal sellers. Other methods such as selling your home to a internet house buyer or selling at auction can be considered but these can come with associated costs which will be now be considered.

Firstly, any seller should appreciate that in this climate you will probably not receive the full market value for your home. Buyers know that they are in a powerful situation and they are quite often negotiating discounts of around 10%. As well as this an estate agent would probably charge between 1.5% to 3% from the sale value. Bearing this in mind even a normal sale could be a costly way of getting rid of your house and therefore other alternatives that may not offer as money don’t look so bad.

Get Rid of Your House

One side of the market that hasn’t been so hampered is the investors ability to build a buy to let property this is because the buy to let lenders have not placed so many restrictions on their loans. If you were to consider selling to an internet house buyer who advertise sell house fast they will often offer 75% of your market value and sell your property to one of their awaiting investors. The good news is that this market value will be established by an independent RICS surveyor so you at least know that you are dealing with a figure that has not been unfairly negotiated. Also, if your property is based in a city then as a seller it’s important to know that you will be in a position of power and can negotiate between 80-85% the sale price.

Another route that would also entail selling to an investor would be a traditional auction house. Before the crisis a vendor may expect to sell their property for very little discount at all often between 5 and 10%, on top of this you would also get the added benefit of completing within a month. As a motivated seller the auction house can be a great option if you’re in a rush and in today’s market you will still be able to complete within 30 days. Unfortunately due to the amount of repossessed properties that are being sold through an auction the competition is tough and you will be looking at a 30 -40% discount. Nowadays, many consider the Internet house buyer route to be better value for money and still a quick way of getting rid of your house.