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Q&A: SELL MY HOUSE? Repossession or Fast Sale?

Question by Tomez: SELL MY HOUSE? Repossession or Fast Sale?
Hello, 2 years ago I put my house on the market for £115,000, after the price crash and all the other crap that happened in the country i dropped it to >in excess of £96,000, after i had no joy and a growing family we decided to rent out the house and we would rent a house, we got tenants very quickly and are paying £550 a month which covers the mortgage and a bit extra in case anything goes wrong.
But now after the hassle of tenants struggling to pay due to loss of jobs and house needing maintenance we’ve decided we need to get rid of the house FAST!!!!!
So please tell me what is the best thing to do get repossessed or sell to a fastsale agency? If you have any info on either of these 2 possibilities please let me know as I am racking my brain searching on the net and speaking to cocky estate agents. Thank you in advance.

Best answer:

Answer by bull_rooster_aardvark
Needing to sell a house fast is a bad position to be in. From the sound of the number you are throwing out could you, maybe, get a 2nd mortgage or home equity line (or just refinance) to pull $$$ out of the house to tide you over until you sell, and then you won’t be pushed to sell so fast. I suspect you may not have the income to qualify for a new loan but if you can do this I’d try it.

Beyond this, the best way to sell the house fast is just to sell it for well below market value, but as bad as things are now its still dicey as to whether or not the buyers will be able to close and lots of other stuff. Anyhow, just lowering the price is the way to go. Of course you can get repossessed but again, from the numbers you gave me (96K sales price but just 550/ month rent) it sounds like there should be alot of equity in the place.

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Need to Sell Home Fast to Avoid Repossession is This Possible? Yes All You Need to Do Is..

Need to Sell Home Fast to Avoid Repossession is This Possible? Yes All You Need to Do Is..

Need to Sell Home Fast to Avoid Repossession is This Possible? Yes All You Need to Do Is..


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Home Page > Finance > Debt Consolidation > Need to Sell Home Fast to Avoid Repossession is This Possible? Yes All You Need to Do Is..

Need to Sell Home Fast to Avoid Repossession is This Possible? Yes All You Need to Do Is..

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If you find your self needing to sell your home fast in order to avoid repossession then you will be pleased to hear that there is a solution possible for you even in today’s difficult property market.

If your in mortgage arrears and are facing repossession then you may be inclined to go to an estate agent in order to sell you property fast and settle your outstanding debts.

This of course is a possible solution, thought it may not be quick enough to save you from repossession if you are at or close to 3 months arrears with your mortgage. The other problem of course is that you would have to leave your house and solutions do exist that allow you to live in your property.

Sell And Rent Back

the basic the idea behind the sell and rent back solution is simple, even if your days or hours away from being repossessed the company’s specialising in this field are able to review your circumstances have your property valued and give you a quote their and then in cash that you can accept to sell your property this will allow you to immediately settle the outstanding balance and any fee’s interest and arrears you may have in connection with the property and then continue living the property as a tenant. This can be a very good option if your house is about to be taken away from you and save the hassle of having to find somewhere else to live

You will find the lenders more than willing to co-operate with you on one of these kinds of deals as the alternative of them having to evict you and repossess your property sell it quickly at auction for a devalued sum and then spend the rest of the time chasing you with legal action trying get the rest of the money owned that the house sale didn’t pay off is an expensive and time consuming process for them.

go now to http://www.avoidhomerepossession.co.uk/

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Charles J Edwards -
About the Author:

Everyone’s circumstances are unique, in order to make the best decision it always pays to seek expert advice.


If you would like FREE No Obligation advice about how you could Stop Repossession from happening then please visit our website and spare 2 minutes with our quick online form and one of our friendly advisers will be able assess and help you make the right decision.


go now to http://www.avoidhomerepossession.co.uk/

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I am a short sell home buyer with a sales contract with the owner. I was told that the package has been sent to an investor for approval. How does this step affect me?
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Everyone’s circumstances are unique, in order to make the best decision it always pays to seek expert advice.


If you would like FREE No Obligation advice about how you could Stop Repossession from happening then please visit our website and spare 2 minutes with our quick online form and one of our friendly advisers will be able assess and help you make the right decision.


go now to http://www.avoidhomerepossession.co.uk/