4 Steps To Buying Property Below Market Value (BMV)

With increasing marriage break ups and divorce,mortgage payments and quite willing drop your
health problems, financial difficulty, and emigration,asking price to sell your property fast.
the UK's housing market is on the decline.2. Remember no chain and first time buyers get
Many people are stuck in chains and havethe property they want
property on the market for over 7 monthsTo be in a position where you have no property
before they sell, and when they do eventually sellholding you down, with months and months of
they are hit with solicitors fees, HIPS fees, Estatenegotiation, is a great situation to be in, in today's
Agent fees, not to mention the 7 months orcurrent market. Property sellers quite willingly will
more of mortgage payments they will have toaccept offers far below the asking price if the
make.buyer is not in a chain or is a first time buyer with
This is not a great situation for people currentlythe cash behind them as opposed to someone
on the housing market - but for the first timewho is stuck with a house they have to sell
buyer, or no chain buyer this is a great time tobefore they can move.
buy the property you have always wanted as all3. Be realistic about your asking price
offers are being considered.Everyone would love to get the price tag that the
But ... for anyone who is facing problems withestate agents put on their properties, but in
chains, or financial difficulty ... there are ways inreality its not always possible because the asking
which you can sell your house quickly, and withprice is highly overvalued to start with. There are
the cash from it, purchase your dream housemany cash buyers and investors who make you
without all the wait. As a cash buyer the poweran offer to buy your property for as little as 10%
to buy whatever property you like will be in yourbelow the RIC'S asking price which is not a lot of
hands, at up to 20% below the asking price ... anddifference really if you take into mind the costs
here is how:-of selling with an estate agent and all of the
1. Forget the Estate Agentsmortgage payments.
Estate Agents are in the property business for4. Sell, sell, sell !!!
one reason to make money. They don't want toSelling your house fast is relatively easy if you are
sell your property as quickly as they can, theyrealistic about the asking price. You need to sell
want to make as much money from the feesfast to be able to move on, and be in the power
they charge you as they can. So they will inflateposition as a cash buyer as previously discussed.
the actual value of your house to trick you intoThis doesn't mean you have to take a silly offer
believing they are the best company to sell with.20-30% below RIC'S valuation, good property
Over a period of time when you are getting noinvestors will make you an offer 10% below
viewing, and most importantly no sale they willRICS, and you can bank the cash in days and
slowly reduce the estimated market value ofmove on to your next dream property ... and
your home to a more realistic asking price. By thisoffer 10-20% below valuation for it as a cash
time you have already paid 4-5 months ofbuyer!!!