Selling a house with negative equity may seem like fitting a nail with a rubber hammer. Impossible! You may have heard, we are officially out of recession. In fact, we’re surging on into recovery and, dare we say it, heading towards another boom. Or so, the papers & the media may have you believe. The burgeoning cry of recovery may be little consolation for individuals dealing with the aftermath of the recession, still festering in our society. Whilst the economy may be making the slow move to recovery, some recessionary effects still afflict much of the Great British population. In this circumstance, I refer to negative equity.
Should you be one of the unlucky ones who scrimped & saved to buy a property round the 2005-2010 mark, you may be afflicted with negative equity. Purchasing a property requires working to save a deposit, securing a loan with a bank following by prompt monthly payments. Having successfully mastered all this, you are then let down by the property market itself. The property you slaved to purchase could be worth half the price you purchased it for. Or less. However, you remain liable for the total amount, despite languishing in negative equity. You may feel option-less. After all, selling a house with negative equity is fraught with difficulty. First & foremost, you will in all probable circumstance be left responsible for any shortfall of sale. The knock on effect on a persons finances could be detrimental. Indeed, selling a house with negative equity in all circumstances appears to give your finances a fair thrashing.
If the property in question is your personal home, the issues may be more complex again. You may need to relocate for logistical reasons, such as a career change or childcare issues. However, the issues of negative equity makes a move all the more difficult. Selling a house or home with negative equity brings problems all of its own. Firstly, the property may not seem appealing to prospective buyers due to the negative equity label. Secondly, the homeowner is most likely liable for the shortfall of sale. In any case, you might be forced to ask yourself, can you afford the difference?
Despite the seeming lack of options, there is some light at the end of the negative equity tunnel. If you are attempting selling a house with negative equity, you will need to speak to the industry experts. At Rescue My Properties, we are so confident of our services we offer free consultation to discuss any issues clients may have, obligation & cost-free. As well as possessing the industry know-how, we also are seasoned bank negotiation specialists. Indeed, Rescue My Properties negotiated negative equity with most banks on a weekly basis. If you are attempting selling a house with negative equity, we can give you the options you crave. To discuss selling a house with negative equity, call Head Office now. We offer free one hour consultation, obligation free, on a first come basis. Claims your now.
Call us on 0207 127 6536 to discuss selling a house with negative equity. Can you afford not to?