I Want To Sell My House Quickly

“I Want To Sell My House Quickly” Does this sound like you?

This week surprisingly follows on from what we were discussing in our last blog. Only this week a definite case has come to us that would benefit others by discussion. The client in question simply typed in ‘sell house quickly UK’ as the pair of semi-detached houses which they had converted into a hotel was no longer viable and they had fallen into arrears. It wasn’t even that they wanted to sell the property, what they wanted was an investor to put money into the property at a fraction of its worth for a wonderful long term and highly profitable return.

Unfortunately it rarely works as simply as they had hoped, and anyone investing would rightly want to know all the details and information, much of which they were very reserved at coming forward with. When people say I want to sell my house quickly that’s really what they should mean, otherwise, as in this case, they become inundated with inquiries from people wanting a completely different scenario from them. When clients hold back from telling the full truth it is difficult to assess their needs and to make a proper offer.

How or why they think that someone will just hand them money on their say so without any documentary evidence we really do not know. The idea for raising the money was to pay off the mortgage and convert the two properties back into individual properties with HMO’s (Houses of Multiple Occupation) status and thereby cash in on the opportunity to rent them out more readily, possibly to LHA (Local Housing Authority) tenants.

The unforeseeable of course is the cost and standard of building work for the conversion back into houses. Let’s presume an investor had travelled over to see the properties and wanted to put their hard earned cash into it, they would have had to take the total value of the building as security against the present owners not fulfilling their part of the agreement, and the chances are that they never could simply because they would have had no other income during the period of reconstruction even if they had done everything themselves the time taken to get the work done would have made the whole scenario unworkable.

Try and explain to people that they are simply going to be working for nothing and they can’t see the sense in what is said. Try and illustrate to an investor to keep his money unless he is looking to evict the very people he is thinking of working with, and the sense of what can and can’t be done becomes clearer. We like to suggest to all our clients what we think the right and wrong ways of working are, so they can make better judgments on making decisions that will help them long term, not get them deeper into trouble.

Not every business would expect them to advocate letting the mortgage lenders repossess the property but sometimes what seems the worst situation can actually be for the best. Let’s hope we never personally have to type in I want to sell my house quickly or even sell house quickly UK into the Google search engine as the response you get may not be what you expect.

Always try to look for the sensible way forward for your money or asset.

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