Property Rescue Blog

Generally, the completion of a housing sale from start to finish in the UK takes 7 months. Even though the market has seen exponential growth in almost all sectors, the process of selling your home is still a protracted one.

The major drawback of this is that in most cases, the majority of a persons capital is tied up in their home. If a situation arises whereby a homeowner requires instant capital, for example to finance a new business venture, the drawn out nature of selling a property proves a significant hindrance.

Capital release is not the only incentive for an expedient sale. Property chains often hinge upon the completion of a series of sales. Recent figures speculate that 1 in 3 transactions in the UK is part of a chain. The major financial headaches with chains occur when a link is broken. All the non-refundable expenses, legal fees, surveyor fees and estate agent fees are then lost throughout the chain. The primary reason for a chain breaking down is when funds are not available to complete the transaction. The cascading effect of a chain failing can be massive and cost all parties involved a hefty price.

Equally you may find yourself in situation where you are in danger of being gazumped out of a dream home. The property sector has become increasingly competitive in the last twenty years and a recent survey found that 1 in 10 home buyers had been ‘gazumped’ in 2007. Calls for this practice to be made illegal have fallen on deaf ears. The best way to prevent this happening is to sell your own home before making an offer on a new property. Sellers are most likely to consider another offer if there is a delay at the purchasers end.

You may find yourself in a position where you need to sell your home quickly either due to a collapse in a chain, debt management or to take advantage of a business opportunity. Property Rescue is able to complete transactions within 48 hours if the need arises. Although the offered price will be below market value, it may pay dividends further down the line.