Bowfin Property

Property Solutions to Sell Your House Fast For Market Value

Help to sell my property

What Is The Maximum Time Between Exchange And Completion?

The normal period between exchange and completion is one to four weeks. But when you’re agreeing your completion date and given that the transaction is legally binding once exchange has taken place, it’s important to get the period right. The one to four week gap between exchange and completion is usually to allow all parties in the chain to make moving arrangements. Normally, your solicitor will have made sure all is in place contractually before exchange takes please. If you are using a mortgage you are advised to have this in place before exchange too. But the period between exchange and completion can be longer, so long as the extended period is agreed to by both parties. Where the contract period is longer than the norm, this is usually referred to as a delayed completion.

How Much Will An Investor Pay For My House And How Do I Find One To Buy My Home? (How To Achieve Market Value)

Selling a house can be stressful and can take months or much longer to sell if sold in the conventional way. Whereas if you sell to an investor, the process is very quick and you’ll sell your house chain free and estate agent commission free. But there’s a catch, as often times you need to be prepared to accept a below market offer. This is the price to pay for the convenience of a quick sale. But how much will an investor pay for my house you may ask? If you want to sell your house fast and for cash; expect to receive between 25% to 30% below its market value. But there are alternative methods to sell your house where you could achieve market value.

Can I Use The Equity In My House As A Deposit For Moving House? (To Buy A New House Or A Buy To Let)

With most people it is the equity in your home that will be put towards a deposit to buy a new house. If the equity in your house has increased since you bought your home, you’ll be able to use it as a larger deposit. This will allow you to either secure a lower mortgage amount on your new house or to buy a more expensive home. Having a lower mortgage percentage typically reduces the mortgage rates, as this poses a lower risk to the lender. If you are looking to downsize and your equity is high enough compared to the value of your new house, you may even be able to buy a new home outright. If your equity is significantly large and you downsize in terms of house value and you buy a new house that has a value less than the total equity you release, you’ll have freed up some of your equity into cash.

How Much Mortgage Interest Is Tax Deductible: Section 24 tenant tax

Due to the introduction of Section 24 Tax or the Tenant Tax, as of April 2020, you are no longer able to deduct any of your mortgage expenses from rental income to reduce your tax bill. Instead of a deduction from your rental income, you’ll receive a tax-credit. This tax credit is based on 20% of your mortgage interest payments. So whether you’re an accidental landlord or had the intention of buying your rental properties, these Section 24 (also known as Tenant Tax) rules will affect you. How much the rules affect you will depend on the level of rental income you have and how much mortgage interest you pay.

Exchange And Complete On Same Day Coronavirus – Covid-19

Whilst there are risks associated with exchanging and completing on the same day, it is worth considering how these compere to the risks of a delay between exchange and completion during the Coronavirus pandemic. The main risk is from someone in the chain contracting Coronavirus Covid-19, which could delay or prevent the move. This could be you or one of the other people in the chain. But equally it could be your solicitor or another solicitor in the chain. If this were to happen it could cause a delay to the completion date and may have serious financial implications to you or to others in the chain.

How Do Companies That Buy Your House Work: Pros vs Cons Of Selling Your Home To Companies That Buy Houses!

Companies that buy houses work well for those home owners who are looking for a quick sale and need cash fast. The process is normally very quick from accepting the offer through to completion and you receiving the funds. There are no chains to contend with, you don’t need to involve estate agents (so no estate agent fees), but you will need to be prepared to accept a lower than market value offer to sell your house in this way. Typically you’ll receive between 25-30% less for your property than if you were to sell it in the conventional way using an estate agent. You will need to weigh-up the pros vs the cons of selling your home in this way before making a decision.

Scroll to top