So today has been an interesting day. I have been visiting with estate agents! It was a great day in terms of the weather though pretty warm when walking up and down city centre roads. Anyway, best to think of the calories lost in all the exercise. Every time I walked into an office, I had to take a 2 minute break to cool down before presenting them with my proposal. Ok, thats an exaggeration – maybe about 30 seconds. (yes, I know I probably need to improve my fitness).
Back to the point – I have been visiting estate agents seeking to work with them in order to offer a solution to those homeowners out there trying to sell their property. Been thinking this proposal through with a colleague of mine and we decided to talk to agents about properties that they consider unsellable. What does being unsellable mean? This is usually when, for whatever reason, an estate agent is aware that a property will not be sold at the price it is set at but the homeowner is unable to change the price. This could be for a variety of reasons though mostly due to the fact that the mortgage on the property is too high to allow for much movement in price. You know those 125% mortgages that seemed like a great idea in the years up to 2007: These have now become a millstone around the neck of a lot of homeowners. The fast cash buyers cannot help and the normal buyers are having mortgages rejected because the valuation is coming at less than the asking price. Very unfortunate times for people in this situation. Anyway, the estate agent may take on these properties fully aware that they are unlikely to sell but at least it gives them the chance to attempt to market the property. A laudable effort indeed but not very helpful if the agent is unwilling to look for other options to help. Thankfully, there are great agents out there who are willing to allow me to present a solution to their homeowners but unfortunately there are some who would rather leave the homeowners with no other option but to wait and wait and wait!
Ultimately, this is the message I seek to get out in the open – there is a solution to your property concerns if you are able to get in touch with the right people. Always remember, there is a buyer for every property in the UK whatever your situation.
So are you one of the “Unsellables”? Well, what are you waiting for, Get in touch now!