Trying to sell your house or flat when you have no equity can be extremely difficult. No doubt you already know that and that’s why you’ve been searching online for more information about what to do when you have little or no equity.
Negative Equity in a Rising Market
In a rising market, even if you have over-borrowed or there is a local price correction in your area, you can usually sell your home by pricing it right, making sure that it is well presented and clean for viewings and giving yourself some time. Eventually a buyer will come along who will pay your price, get a mortgage from a lender who agrees the house is worth the asking price and get your sale.
What About Negative Equity in a Falling Market?
Negative Equity is usually created by a falling market. Yesterday, I had 5 calls from sellers who had all been sold the same 125% mortgage product by Northern Rock! These sellers are now desperate to sell but their mortgages are in some cases up to 160% of market value. They will have to wait years before they can move on.
You Can Sell With Negative Equity!
What some of these sellers who called me now understand is that by being flexible in how they sell they can get the full price needed to clear their mortgage debts.
If you are in a similar situation why not call me like hundreds of others have done and see if I can help you?
Gary 01462 889316
Or you can fill in the short form here
cforms contact form by delicious:days
