Distressed Seller? Sell Your House Fast

In the past, if you needed to sell your house quickly due to not being able to meet your house sale (7)mortgage repayments, your only real option was to spend the little money you had on some home improvements such as painting the outside of the house and praying that a buyer would come along in time, and hope for the best.

However, these days, things have changed and distressed sellers have the option to go for a fast cash sale in exchange for selling their home at a little less than the normal market price.

This is a great solution for everybody concerned – less homes are being repossessed and sellers are able to at least walk away with some cash in their pocket to start afresh. Banks are not left with empty properties in their portfolios, and this industry has created many jobs within the real estate business.

However, it is not all rosy, as just like with anything else there are many companies jumping on board with the intent of getting what they can out of distressed buyers and offering them far less than the market value of their property. While is expected that by fast cash sale you will not get the full 100% property value, you are advised to shop around because companies will offer vastly differing amounts.

A family member recently went this route after she was unable to keep up with her mortgage repayments, and was very happy with the cash offer she received from her fast house sales company. So do ask around, and read reviews before jumping at the first offer – you might be leaving money on the table.

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Investing in Property Abroad

Due to the rather serious global recession that hit Europe pretty hard in the year 2008, there are many homes for sale bargainjavea (12)in the warm Mediterranean countries including Greece, Spain, and Italy at knock down prices. In fact you can find nice houses and apartments priced at just a fraction of what you would expect to pay when the property market in many of these countries hit an all time high in 2007. Therefore, anyone who has been considering buying a property in the sun as a holiday home or to relocate, it is certainly a tempting proposal – but is buying a second home in one of these countries a wise idea as an investment right now?

The fact is your individual circumstances will play a large part in your decision. Those who need to work in the chosen country are in a very different situation compared with somebody who has a state pension and does not need to rid lie on finding work locally in order to be able to live.

The problem is that local unemployment at the moment in Mediterranean countries continues to be high, and finding work, particularly if you are not qualified in any particular trade can be very hard.

Your decision should also depend on whether you will have to get a mortgage or can buy out right. Renting a property out in Spain for example, can be very lucrative particularly buying in one of the popular holiday resort such as Javea. Villas in Javea can fetch thousands of euros per week during the summer months, providing the owner with a nice income. However it is wise to remember the summer season is short, and for a large part of the year if you buy a property to rent exclusively to tourists, it will remain empty.

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