Little Equity? No Problem
At Express Property Sale, we have numerous solutions to help sellers with their circumstances.
There are occasions when selling a property for cash is not preferable or even possible. This is certainly the case when a property has little or no equity in it. If your circumstances mean you need to stop paying the mortgage for any reason, then we can help you make that a reality in as little as 7 days using something called a Lease Option.
Here is how it works:
Let’s say you have a house that you need to sell very quickly. If you sell through an estate agent in the current market, it is extremely unpredictable and the very frequent supply of properties in today’s market means your house could be on the market for a long time. During this time, you would be advised by the agent to keep reducing the price to generate interest from potential buyers.
If your property doesn’t have enough equity, that would not be possible. If your property has no equity at all, you would not even be able to put it on the market without making a significant loss.
With lease options, we will take over your mortgage payments as well as the maintenance of your property until we can buy it in the future once the market price of your property has risen sufficiently. Once the paperwork is signed, which can take as little as 7 days, you can immediately move out of the property without any further burden from the property. We will appoint an independent solicitor who is a specialist in property, to act on your behalf. We will then pay all of your legal fees. We simply agree on a time period with you in which we have to fulfil the purchase of the property. Until that time period expires, we have the option to buy your house at an agreed price and we will be “babysitting” your mortgage AND looking after your property.
In a nutshell, we “lease” the property from you by looking after all aspects of your property and by paying your mortgage. In return, you grant us an “option” to buy it from you in the future – a win / win situation.
Remember, the end result is like you have sold your house, You are completely free from any obligation for this property during this period!!
A lease option would suit the following situations:
- If you are facing repossession or have mortgage arrears.
- You need to move on immediately without further mortgage commitments.
- There is little or no equity in your property.
- You can immediately to move on and do not need a large lump sum of cash.
- You wish to secure a price that is close to today’s full market price regardless of the state of the housing market in the years to come.
This is a free service. Act today and you could be completely free from your mortgage payments within days. Due to the flexible nature of a lease option, we can help you to structure a solution so that it can completely suit your circumstances. You will no doubt have some questions, so why not give us a quick call or fill in our online form so we may contact you?