Repossession Worries and Selling Home
Repossession is a huge worry and one of the reasons why you may wish to sell your property. If you are faced with losing the family home to repossession you may be tempted into selling to the first company you find that will pay cash for your house. But is this the most suitable option for you?
Options If You Are in Mortgage Arrears
There are numerous options to consider if you are faced with mortgage arrears, here are some of them:
- One of the first things to do when you find yourself struggling to repay your mortgage is to try and work something out with the lender. You may be able to reach an agreement if your financial problems are short term.
- Remortgage your home with a mortgage that comes with a better deal.
- If your problems are long term and you cannot keep up your mortgage/pay back the arrears or reach an agreement and remortgaging is not an option then you may wish to look into selling.
Choices for Selling Your Home
If you have no other option but to sell home for cash to avoid the lender taking it through repossession then you have to consider your options:
- Selling your home through an estate agent.
- Selling the property yourself.
- Sell house for cash with us online.
Selling Property with an Estate Agent
There are pros and cons to selling this way. The first of the downsides is that if you are looking for a fast cash sale you may be disappointed. Your home may be on the market for months or longer, if it sells at all and you have fees to pay out. However if you are lucky and manage to get a sale this way you may get the full asking price for the property.
Selling yourself may be a cheaper alternative as you have no estate agent taking a chunk of money from the sale. However the downside is that you have to market the property yourself and this comes with costs. Again there is no guarantee of you selling the property or of making a fast sale.
Selling With a Company Online
Again there are pros and cons to selling with a company online. One of the biggest pros is that if you are happy with the cash for house offered you are guaranteed a sale. The downside to selling this way is that you do not usually get the full asking price for the property.