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.
So how can you achieve quick house sales at a price you will love?
To start with, you should be mindful of the actual obstacles that are preventing the great deal of sales throughout the UK. These fall under 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, a lot less than 2% of the actual population have the deposit the banks are requiring on to buy a property valued close to 200,000. Furthermore, 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 just in case 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.
And so the 2 reasons as established above are classified as the two most significant reasons blocking the vast majority of sellers from selling. Understanding that restricted availability of finance as well as controlled deposit savings are to blame for an all-time depression in property sales would it not actually make sense to provide prospective buyers an option that exclusively focuses on these two challenges directly?
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 simply take on and repay without having the bank to actually finance it.
Almost all sellers already have a mortgage on their property. It indicates that the hard bit of securing finance has actually occurred. Why make the new buyer experience this method for a second time and battle to repeat this? How does it get whatever sense for the actual buyer the requirement to save a huge deposit and wait for the strict authorization of the banks to receive new finance if there is really finance in place?
The great news is that prospective buyers may now merely and legally utilize funding already presented to the current 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 were successful 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.
So how can you achieve quick house sales at a price you will love?
To start with, you should be mindful of the actual obstacles that are preventing the great deal of sales throughout the UK. These fall under 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, a lot less than 2% of the actual population have the deposit the banks are requiring on to buy a property valued close to 200,000. Furthermore, 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 just in case 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.
And so the 2 reasons as established above are classified as the two most significant reasons blocking the vast majority of sellers from selling. Understanding that restricted availability of finance as well as controlled deposit savings are to blame for an all-time depression in property sales would it not actually make sense to provide prospective buyers an option that exclusively focuses on these two challenges directly?
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 simply take on and repay without having the bank to actually finance it.
Almost all sellers already have a mortgage on their property. It indicates that the hard bit of securing finance has actually occurred. Why make the new buyer experience this method for a second time and battle to repeat this? How does it get whatever sense for the actual buyer the requirement to save a huge deposit and wait for the strict authorization of the banks to receive new finance if there is really finance in place?
The great news is that prospective buyers may now merely and legally utilize funding already presented to the current 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 were successful in a boom time don't work in the down turn we are now in.
About the Author:
If you need to prevent repossession by having your mortgage paid for you or you need help to sell my house quickly then visit SellMyHouseQuicklyPlease.
0 comments:
Post a Comment