By Euro Weekly News Media • 04 August 2022 • 8:22
Property Hotspots: A good strategy when you can’t sell your home. Image - Property Hotspots
So, what do you do when you have had your property on the market for a while and nothing is happening? Do you keep it listed and hope for the best? Jump from agent to agent hoping that the next one will find you a buyer? Or do you drop the price time and time again thinking that the reduction might spark some interest?
None of these options sound particularly appealing, luckily there are alternatives that can work for some sellers who are willing to think outside the box.
Property Hotspots Global in the UK specialise in international investment properties and regularly help owners in Spain and around the world who are stuck with a property that they cannot sell on.
One of the strategies that they can help you with is to offer your property to their clients on an instalment sale basis which is like a rent-to-buy. This is where you would decide on a price for your property and a term over which the investor would agree to pay you the balance in monthly instalments. The escritura would remain in your name until the full balance has been paid plus the investor would agree to take on all associated property costs during this time. There is no requirement to reduce the price and in some cases, you can increase the price to sell for over the market value.
Another benefit is that you will not have any agency fees to pay as Property Hotspots would be paid from the buyer rather than the seller. The downside to selling this way is that you are not getting all the funds in one go as you would do with a traditional sale, however, this way can often generate more money coming in and can be an excellent exit strategy for forward thinkers.
You can reach Property Hotspots on WhatsApp at +44 7432 830 830 or via their website www.propertyhotspots.com
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