Main Residence Sale:If this is your main residence and you want or need to maximise the price then please read on. There are many reasons why you would want to sell your house or flat: you want to relocate, upsize or downsize, you can’t afford the mortgage payments anymore, it is surplus to your requirements as you have moved in with your partner, parents or children, you are going through a divorce or separation… the list goes on. If you want to achieve a certain price for your house but there have not been any firm offers yet, then it may be an idea to sell on a ‘rent to buy’ contract. This means that the buyer will pay you a small upfront fee (deposit) and then pay you rent on a monthly basis. Some of the reasons mentioned above may require you to sell quickly – if you have not be able to secure a firm offer or the offer was accepted and acceptable to you but the buyers were in a chain and the chain breaks then you may have to compromise on the price in order to get the sale through. Please see below. If this is your main residence and you want a speedy sale then please read on: If you need to sell your property quickly then you may have to reduce the price, offer incentives to buyers or use a different strategy than a straight forward sale. The strategy I am talking about is the ‘rent to sell’ strategy. This may be advantageous if you do not have equity in the house or do not need all the capital or equity that is locked up in your house. The rent to sell strategy is quite easy to organise with a solicitor, who is knowledgeable in such contracts – it is also a quick solution and may be even as quick as 2 to 3 weeks. The solicitors need 2 to 3 wks to get the searches done before being able to draw up the legal agreements. |