Getting a cash house sale usually means making a compromise or two. Typically this refers to the price you can expect from an auction, property investor or cash property buyer.
How low will you go?
All the years we have been buying property, we’ve noticed different people have different price expectations. This can depend on their circumstances. The fix they are in. As well as their personality.
You need to manage your price expectations.
We know we know.Easier said than done. But now in the last quarter of 2010 the housing market is already passed the tipping point on prices. Any local / regional rises are being held up buy a shortage of suppliers.
If further proof were needed, surveyors are reporting that first time buyers are staying away>
Large companies are making redundancies (Lloyds bank just today) and there will be HUGE public sector job losses as a result of the Government’s spending review.
This is a roundabout way of saying things are not good on the property market front. This has an impact on how all all property buyers feel about how much they want to pay.
Time to wake up and smell the roses.
What does this mean for price you’ll likely to get. Well via a high street agent, keen buyers may still pay your asking price (our friend Annie has just done this). This means you could get lucky. But don’t gamble on it.
The thing is really this. If you have tried to sell and failed, you know just how difficult it is!
You should set a cash price that clears all the secured debt on your property – this means mortgages and loans. In some cases it is possible to negotiate with a lender to convert a proportion of the debt to unsecured, but this is rarely in your interests.
After all, isn’t the point of a cash house sale to be free and clear!