Selling through solicitor /estate agents is a waiting game.  You can’t really influence how long your sale will take beyond making sure the price and marketing of your property give it the best chance of getting buyers attention. The process is pretty much a waiting game.

But what if you could sell in 21 days, or 31 days or whatever time frame is important to you? It is possible to get a very quick sale using trade property buyers. Unlike normal buyers who buy when they want to, a trade property buyer will provides a service that enables you to sell when YOU want to.  See the difference?

The question is really whether you need to sell in 21 days? If your need to sell in your chosen time frame is greater than your need to get the best price, then using trade buyers may be the best route for you. Even house builders are starting to use “guaranteed sale” plans, where they will help you market your property at a price to sell in three months. In the current market that will be less than the Home Report valuation. Its no different if you wish to sell in a few weeks, rather than a few months.

Trade property buyers are organised to buy quickly.  They are chain-free buyers, with access to funds or finance.  The solicitors they use also have expertise in processing the paperwork quickly.

The point about selling in 21 days, is not so much getting a twenty-one day sale (unless you need one of course!), but selling to a deadline. Deadlines are important if you are relocating, moving abroad or have other pressures which mean your back is against the wall. It’s not a service designed for all sellers, just the people who need it most.

If only life were that straightforward!

This type of purchase suits people who will be extremely inconvenienced  if their sale doesn’t happen when they need it to.  Of course, some home owners find a work-around, but for others the financial or practical implications of being “stuck” are huge.

A guaranteed property sale gets life moving again

If you’re circumstances are “complicated” and you’re trying to sell in the usual manner, you’re really at the mercy of the market. You have to sit tight until a suitable buyer comes along. Most people put up with this, after all, it’s how we’ve always sold property.But there is another way if timing or certainty are crucial to your plans.

Typically we help two kinds of people. Those who have failed to sell, and time has run out, and others who simply chose not to sell through the usual channels because it doesn’t suit their circumstances. When interest rates were high many of the people taking advantage of guaranteed property purchase services were in financial difficulties.  However the very slow moving market, has left some people trapped. Life goes on regardless.

You might have bought new property but not sold the old one. Family members might be relocating from more than one location. Perhaps you’re buying property overseas? Have lost your job? Are moving in with your partner? The list goes on..

Would A Guaranteed Property Purchase Help You?

But is it the right service for you? It really depends on whether you’re need to sell is greater than your need to get the best possible price for your property. To get a faster property sale you need to drop the price. And if you want someone to buy on demand (when you ask them to), you need to be prepared to accept a “trade price”.

The choice is really yours.

If you don’t manage to find a work-around for your situation, you could have a chain free offer in days and a sale shortly thereafter. Most sales through solicitor/estate agents are dependent on your buyer selling their property. A guaranteed purchase is chain-free, and quick.

There are exceptions when “cheap and cheerful” may not be the best route.

These include Home Reports for more expensive properties or properties needing quite a bit of work. In these cases having a well known brand behind the Home Report from one of the top three survey firms will probably help your sale.

Occasionally we get calls from people looking to sell off market because they can’t afford a Home Report. With cheaper Home Report options available or even “buy now pay later” schemes available, a Home Report should be within everyone’s reach.

Chances are the savings you make on your next purchase will out-weigh the lower price on your current home. And if you are moving up the property ladder you will most almost certainly be quids in.  There are however some rules to follow when selling your home in the credit crunch, or you could find yourself in deep water, epecially if you hope to cash in on incentives offered by a cash-strapped house builder.

First, be hard-headed. Don’t even think about looking for something to buy until you have an offer on your current home.  We’re sometimes contacted by sellers who’ve got themselves in a jam, putting a deposit down on a new build property before they have a buyer for their existing home. This is NOT a good strategy in the current market unless you can carry two mortgages with ease – and few of us can.  Also, by not starting your search until you have sold your home, you won’t fall victim to the “I’ve fallen in love” scenario.  Realistically most houses are taking longer to sell, and everyone’s having to be more realistic, so don’t put yourself though the grinder!

Rule two for selling your home in the credit crunch – regard your current sale as a means to an end. Focus on your strategy for buying in the credit crunch. This will help to lesson the blow if you have to sell for less than your ideal price.  By being future focused,  you’re less likely to get caught up in the emotion. Just focus on the numbers and whether any offer is sufficient for your plans.

Rule three, future proof your purchase, by being picky about buyer finance.  These days, with a slower market, solicitors are taking offers subject to finance. Only when your solicitor has verified your buyer has finance in place are you really good-to-go. Ideally of course you’d wait until you conclude missives but this isn’t realistic for most chains. Every we week we hear stories of “we lost our buyer because they couldn’t get finance”.  Well I am sorry. A buyer without finance, isn’t a buyer.

And finally, don’t nitpick over the odd thousand pounds or minor details. Instead focus on other aspects of the sale that have a non monetary value. For example, finding a chain free buyer is worth quite a bit in itself.  So if a chain free buyer offers slightly less than you were expecting don’t dismiss it out of hand.

First you can try to sell on the open market, but this may mean taking a loss. This will leave you out of pocket since you will have to pay lenders the deficit out of your own pocket. But you may be lucky and achieve a sale at a level which leaves you free and clear. Just.

The second alternative is to rent your property out. This is a viable option if you’re staying locally, and the rent will cover your mortgage/loans. But you are essentially deferring the sale of your property and are still liable for repairs on your property while it is let.

The third alternative if you owe more than 90% or more on your property (or are possibly in negative equity) is to take advanatage of a scheme offered by some property buyers. Solicitors draw up the agreement as with a normal sale but it differs in some important respects.

First you agree to sell at some point in the  future for today’s market value (broadly).  In the meantime the person who agrees to buy your property takes full responsibility for the payments due on the house and repairs. Now the draw-back of this scheme from your point of view is that the buyer only takes “an option” to buy. In the final event they may not. But if property values increase in the future they are likely to because your property will have increased in value. And in the meantime the prospective buyer is taking full responsibility for the property with your lenders consent. A big plus however is that your likely to get more for your property than if you sold today. Typically these schemes run for five or six years, but in some locations it can be less. And it also depends on the kind of house you have.

Each alternative has pluses and minuses. The important point is that moving with no equity (or a little) is possible.  So if you owe 90% on your property or more, it’s worth investigating all the alternatives.

True ever penny counts. But the cost of dressing a property for three months is small change compared to the money that’s tied up in the development. It does well to remember that no matter what type of development you’re selling, your profit is tied up in someone else’s future home. Why do builders take time to furnish a show home? So prospective buyers can more easily imagine themselves living there. Put two indentical flats side by side, one furnished and one not..and the furnished property (all things being equal) will sell faster. Selling property has an element of theatre. Furniture and accessories are your props.

Unfurnished developements can look a bit unloved. Something paint alone can’t cure.  And buyers may be wary of a property sold to a developer, just because it was.

Most property developers want a quick sale and want buyers to pay a premium for their property. You can’t have your cake and eat it. The premium isn’t likely to be tied up in bricks and mortar. Ok, it might be if you’re selling something really special. But most developers aren’t. One and two bed ex-council or tenement properties are the lifeblood of small developers. Rather it’ll be more to do with how badly someone wants your development. It’s all about lifestyle really. That’s what you’re selling.

If you can’t justify dressing your current devleopment, the moral of the story is to make sure it’s budgeted for in the future. And serial developers can probably  hold on to a set of “props” permanently.

If you leave the country with your house let or still unsold this may work for you for a while if you have good tenants and/or agents. For example, if you’re able to use one of the upmarket estate agents they’ll be more used to dealing with overseas clients…Selling/letting from overseas is certainly possible especially if you have friends or family around who can be “hands on”.

And if your reading this having not not moved yet but are making plans..you’ll want to know that your solicitor/estate agent will work with your new time zone. And certainly that they are email friendly. Even in this day and age not all are!

It might be that selling your Edinburgh property from abroad becomes onerous. Or urgent. “The dream” may use up more cash than you’d planned. We know of one lady who intended setting up a small business in Spain, but ended up running an animal sanctuary! If you’re looking for a more clear cut solution to disposing of your Edinburgh property it is perfectly possible to sell Edinburgh property from overseas if you use the services of a property buyer.

A property buyer will buy “on demand” rather than you having to wait for the right buyer to come along or for your tenants to move out.

The bottom line is that selling your Edinburgh property can be stressful. It’s too much to think about while you’re enjoying your new life abroad. Of course, try convential means of selling for a while, or continue renting your home out. But what if there comes a time when you want to sever ties with Edinburgh, need cash or run out of patience?

You can sell Edinburgh property from overseas by using the services of a professional property buyer. The main benefit to you will be that your sale will be done and dusted in no time at all with none of the frustrations of waiting for a buyer to turn up who is chain free or who can get finance. It may not be your first line of attack for selling but may be the most pratical solution when other alternatives fail or aren’t workable.

Properties that are still on the market without a Home Reports can be tricky to sell if you’ve not revised your price. There may be no logical reason to have an unsold Edinburgh property – other than the right buyer hasn’t come along. But people who bought at the 2007 peak, and wish to sell now, may be reluctant to sell for less than they bought the property for.

By and large we think this quarter is a reasonably good time to sell. With the rider that the property is realistically priced. But there may come a point when your unsold Edinburgh property is holding you back.

Perhaps you are moving in with your partner or relocating or have inherited a property. If your property hasn’t sold in Edinburgh it may be putting your plans on hold. For some property owners renting their property out may be the pragmatic way of getting plans back on track. There are signs that “renting to move” is proving popular.

But if renting is not a solution for you. Perhaps because of the property’s condition or your location, then selling to a professional buyer may be worth considering. At least if you make enquiries and find out it’s not for you, you can focus on alternative ways of dealing with your unsold Edinburgh property.

There are many alternatives to choose from. The best cash offer for you, will not just be about the level of offer – the amount promised, but an offer that meets your other criteria. Why? Well for one thing, not all offers are of equal merit. You’ll want to make sure you have a written quotation for one thing. Firm offer made before the survey is done? Well then you’ll be wanting a copy of the surveyors valuation report – just to make sure you’ve not been short-changed.

Another reason for looking at more than just the numbers is that companies on the whole tend to be making roughly the same level of offer. Broadly speaking. Although you may find a local company will offer more. Your house in Glasgow – look for a Glasgow based company. Edinburgh? Look for Edinburgh based companies and so on. A local cash offer may be more.

However, be wary of a suspiciously high cash offer. High initial verbal offers can be used to reel you in, only to head south later on. There can be an honest reason for this. The surveyor may have found a problem with the property. But you can protect yourself by asking your solicitor to work something into the missives.

Finally consider speed of sale. Or more usually the degree of certainty you have your sale will happen when you want it too. Timing can be critical for a cash property sale. Do you have confidence that the people making the cash offer will do what they say. We recently arranged a sale for an East Lothian family moving abroad. We arranged to conclude missives quickly but delay the entry date to suit their day of departure. They had the comfort of knowing their house was sold, but had time to get properly organised.

So, make sure your cash offer meets ALL your requirements.

Not had an offer on your property? Has your property been on the market for six months or more? Not had a viewing for four months? In Scotland the offers over system has done us no favours. Gone are the heady days of 2007.   Just because you’re offering your property at a fixed price does NOT make it a bargain!

Owners of unsold properties often have the same story to tell. Their property had a Home Report survey done in spring 2009 (say).  The valuation then becomes the fixed price. True some of these people bought at the peak, and understandably want to minimise their losses. And so they enjoy a sprinkle of viewings for the first three months. Then nothing.

Let’s assume that the marketing of the property is up to scratch.  If that is true, then any property that’s been on the market for a long time – and six months is a long time – can develop its own bad karma.  Buyers routinely scouring the market may assume something is undesirable.. .or may conclude (probably correctly) that the price is wrong.

There is a selling price for every property in any market – even a sluggish one.

So what to do? Take counsel from your solicitor estate agent on recent selling prices for property like yours and adjust the price accordingly.  The best properties still sell well in a sluggish market.  But other properties may need some help.