Barry Home Buyers

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Handling empty homes

Being in charge of empty homes could be challenging. At times it costs thousands of pounds in repair bills; need a keep up with energy and utility bills, mortgage payments and much more. Occasionally, a property can remain empty for lengthy periods of time, owing to a number of reasons. Landlords may be struggling to find tenants, a property owner may have passed away or perhaps a property is in a bad state of repair and is too dangerous for anybody to reside in it unless major work is carried out to restore it. Whatever the reasons are, it is a good idea to try and bring it back to its original state particularly as there is such a housing shortage within the UK. So whether you look to invest in developing the property or aim to get a quick house sale, it is important to deal with your empty property as soon as possible to avoid further on-going costs.

Firstly, you will need to investigate the problems the property may have. Whether you arSell and rent backe aware of existing problems or you have just inherited a property, a home survey is a good start which can help to identify any underlying issues that need resolving. This is a good idea whether you choose to live in the property yourself, rent it out or put your home on the market. If you are on a tight budget, there may be help you can get from government schemes as well as asking friends to help with general maintenance. If you own the property outright, it may be worth considering getting a re-mortgage to help pay for any major repairs, which in the long run may help to avoid making a loss due to the state of the property. Otherwise you could opt to get a secured loan, or enlist volunteers to help with heavier work. If you are unsure or need advice, you can contact your local council or speak with an independent property or financial advisor who can help advise you with regards to budgeting or any help that may be available to you. While your property is empty you may be entitled to a discount on your council tax, so it is also worth checking as this could be economical.

Once your property is in a good state of repair you can then opt to rent it out which can help to recover some of the cost of repairs through rental income or put your home on the market. You could alsEmpty homeo consider marketing the property yourself in order to get a fast house sale which could also help to avoid fees from estate agents. However if you feel you are unable to carry out any repairs at all, you can still opt to sell the property in the state it is in. You may obviously make less money but you can then invest that money into a savings scheme and begin earning interest on it rather than having your property stood empty for any length of time. Often, you could sell property quick within a matter of weeks.

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Primary Steps to Sort out Repossession

With the recent adjustments in house pricing and the economy, many people have been faced with the possibility of repossession in the last few years. This owes to the inability to keep up repayments on property mortgage. With the rising cost of energy bills and many people struggling with increased mortgage payments, it has resorted to many homeowners falling behind with their mortgage payments. If you find yourself in this position, the mortgage companies will try and come to alternative arrangements before resorting to repossession but this doesn’t make the situation any easier as it can be incredibly stressful and cause many problems in other aspects of your life.

When facing financial problems, it is important to communicate with your mortgage lender immediateimages (6)ly. Early communication and making them aware of your situation can help to avert a possibility of losing your home, through reaching a payment agreement. Several factors can lead to financial problems other than house prices or changes in the economy. The two main factors among them, being a broken up relationship or loss of a job leading to repossession. A sudden change of some factors can mean that what was once manageable suddenly becomes unaffordable.

When people take out their first mortgage, they often tend to opt for a fixed rate deal within a limited span of time. The deal serves as security for a short time span. However, once it has elapsed you will find yourself faced with a large rise in the monthly mortgage payment, specifically if the base rate increases. Luckily, this isn’t a problem lately as Standard Variable Rates have seen a continuous reduction due to the drop in the Bank of England base rate.

There are varied options to try when avoiding repossession or at least avoiding the various negative consequences of repossession. This can be done through re-mortgaging or even considering a quick house sale which will allow you to sell your home quickly and possibly downsize to save money. You can communicate to your bank or mortgage lender about deals on re-mortgaging or other options that may be available to you. You will be expected to Stop repossessionprovide financial details in order to help negotiate repayments. If you cannot come to terms with your mortgage provider or they refuse any offers you have put forward, you will be in a better position legally as long as you proof a communicated urge to effectively resolve the situation while in court.

Lastly, it is also important to get professional advice. There are lots of companies such as Citizens Advice or National Debt line that offer free information and advice for anyone struggling financially or on the verge of losing their home. Nevertheless, you can as well speak to a solicitor who can help to iron out a repayment plan or settlement as well as help negotiate with your bank or mortgage provider. You will have to incur some legal fees involved with instructing a solicitor to help however.

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The Benefits of a Quick Property Sale in Barry

For most of us buying and selling a house is the biggest property transaction we\’ll ever make in our lives. That\’s a pretty scary thought – especially when you\’re on the cusp of making a decision either way.

But the process of a Quick property Sale isn\’t cut and dried – to the extent there are no hard and fast rules to follow. There are as many individual reasons for selling as there are online estate agents.

For instance, when it comes to selling you have to take such issues as time frames into account, as well as financial aspects and, of course, whether there are other personal interests at stake in the investment too.

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As a company which buys properties outright, our team has encountered just about every reason there is for a house owner looking to sell their property quickly and without any fuss. Here are some of the main ones:

Reasons to seek out a quick property sale

New job. Whether moving half way across the country or setting out for a new life abroad, your new life won\’t really start until you get settled in your new location. And this usually means buying a house and making it your own. In order to do this selling your current home is a necessity. But it\’s not just for financial reasons that you may be keen to rid of your existing home. Often it’s only once their home is sold that individuals feel they can finally shrug off their old existence and move on with their new life.

Divorce or separation. It\’s a sad fact of modern life that couples split more often today than they did in our parents or grandparents generation. Messy divorces often involve financial settlements and that\’s where a quick sale often comes in. Not only does this make legal proceedings clearer, but once the marital home is sold it’s only then the parties feel they can finally put a line under their relationship and move on.

Financial difficulties. The recent recession with all the job cuts it entailed resulted in thousands of individuals having to sell their homes quickly – thanks to mounting financial debts. In many cases people found it was better to cut their losses than continue to build up increasing debt. As a result many were willing to sell their property for below market value. This way it would free up financial capital and, at the same time, guarantee a quick sale. In addition there would be no estate agencies fees to worry about.

Avoidance of a property chain. We\’ve all seen those endless repeats of Location, Location, Location and other tv property shows where the deal on a couples dream home falls through simply because another family in the property chain were let down at the last minute. Property chains are notorious for collapsing like this and, as a result, most vendors prefer to sell to someone who isn\’t tied to a chain (even if it means reducing their price a little). It makes sense for someone who has fallen in love with a property to sell their own quickly and below market value. This will ensure they are a much more appealing sales prospect to the vendors and far likely to clinch the deal.

If you\’re looking to sell your home quickly then do get in touch with us here at barryhomebuyers.co.uk for a no-obligation chat. We\’d be happy to explain a number of options and help guide you through the property private sales process