Sell Your Property Quickly to Get Rid of Financial Difficulties

The tough economic conditions, rising unemployment level and increasing debt has put a number of property owners in a financial mess. This is especially true in the case of first time home buyers. Now, if you are caught in a similar situation and are facing severe financial difficulties, then it is time that you searched for reputed property buyers who are best positioned to offer a quick property sale.

You need to understand that it is not easy to sell your property, specifically when you need a fast home sale. While you do have the option of hiring an estate agent, there is a very high chance that the agent would demand a hefty price for selling your property. This could upset your entire plan of getting a quick property sale as you would not be able to save enough money for yourself after paying the due mortgage repayments amount and settling all your other debts. This is precisely why you need to identify professional property buyers who can instantly hand over cash to you. The biggest advantage of contacting these property buyers is that they will pay you a decent price for your property i.e. in accordance with the prevailing market price. Besides, when there is a very high chance of your house being repossessed, then no other individual or entity can provide you with quick cash, but solely the property buying companies.

Property purchasing companies are registered with the Financial Services Authority and also sign a code of conduct with the government agencies. What this means is that if you deal with them, then your property is completely safe and they wouldn't be able to mishandle either your property or related transactions in any which way. Now, doesn't that sound nice especially when you have always wanted a fast home sale.

Once you have consulted a reputed property buyer, the first thing that they would do is send a local expert to visit your house and carry out a free property appraisal. Post the appraisal, they will discuss a suitable value/price for your property and then either purchase your property instantly or identify potential home buyers who are in a position to invest in your house instantly.

Remember, once all the legal formalities are over and contracts have been duly signed, you will get enough cash in your hand that will help you get rid of your financial difficulties. So, if you really want to put an end to your finance related miseries, then it's about time that you consulted a good property buying company.

What Do I Do If My Tenant Stops Paying the Rent?

Unfortunately, during a recession more and more tenants will struggle to pay their rent, especially because of the rise in unemployment. As a result, a previously perfectly good tenant may end up being a poor paying one within a matter of months.

Here are our top ten tips of what to do if your tenant stops paying rent:-

1.    Check the tenancy agreement and identify the key steps you can/need to take when a tenant stops paying the rent.

2.    If you have a letting agent acting on your behalf, ideally visit them (or via phone) and agree a strategy of what you/they are going to do and when. 

3.    Check your Landlord Insurance Policy to see if you are covered for a tenant defaulting on payment.

4.    Immediately contact the tenant via phone or visit (ensuring you give notice as per your agreement if visiting).

5.    Find out why the tenant hasn't paid and set a deadline for the tenant to pay the monies.

6.    If there is a guarantor, advise in writing and by phone that the tenant has defaulted.

7.    Identify whether the tenant isn't paying because of a short term problem or whether they won't be able to pay on-going.

8.    If you need to evict the tenant, speak to them to see if they will leave the property so you can re-let the property to a paying tenant (but ensure you abide by the rules laid out in the rental agreement).

9.    If required, start eviction procedures according to the tenancy agreement which includes a Section 8 Notice that advises the tenant they have 14 days to pay the rent.

10.    If the tenant doesn't make good on their payments within the 14 days, issue a Section 21 Notice which gives two months' notice to the tenant that you are ending the agreement.

Although the legal process can be frustrating and take from two to three months, it's important to make sure you follow the procedure to evict a tenant laid out in your tenancy agreement. Only a court can conclude that the tenant must leave your property and only bailiffs, sometimes supported by the police can ensure that the tenant leaves.

If you try to evict the tenant in any way and do so against the legal proceedings set out in the tenancy agreement, you could actually forfeit your right to be able to evict the tenant, so it's not worth the risk!