If you're looking to sell house quick – beware the 'Arslabs'!
A sell house quick scheme typically offers around 80% below the market value of a property. It may sound like a big drop. But when you consider the fast house sale schemes offer a sale often within days and often cover your selling costs, a sell house quick scheme is a rescue line for those who don't have the cash for solicitors and estate agents. For those who need to sell fast, a sell house quick scheme could be the only way of halting repossession in its tracks.
Sell House Quick – Vulture Culture
The 'Arslabs' is a term coined by The Sunday Times in an article examining the new breed of buyers dubbed 'vultures' because they're ready to swoop on properties as prices drop. As the Times says: "...Arslabs, or Already Renting, Sold, Looking for a Bargain. The Arslabs are people who have flogged their houses, got into rented accommodation and are now looking for a fantastic deal. And, at the moment, the housing market seems to belong to them." For those homeowners who haven't opted for a sell house quick scheme, they could be vulnerable to repossession. An Arslab could typically make the most of the huge hike in repossession orders by waiting in the wings ready to snap up property bargains at auction.
Sell House Quick! Stuck on the Housing Market
For homeowners clinging on to selling the traditional route, they could be fed up with the number of Arslabs viewing their homes. The fact is it's a buyer's market and the Arslabs are offering prices way below the market value. The Sunday Times quotes one homeowner whose property was put on the open market at £1.2m, only to have £50,000 knocked off the asking price just four weeks later. For those desperate to sell, a sell house quick scheme could in fact prove to be just as lucrative as watching the value of your home gradually decrease on the open market. Some say a house that once typically sold after 12 viewings now takes on average 30 viewing before selling. A sell house quick scheme suits those who simply can't afford to wait indefinitely for a sale to come through. If they are emigrating, are in a property chain, have lost their jobs or split up from their partners, a sell house quick scheme could be a lifesaver.
It's a bitter pill to swallow but as the housing market drops, sellers will have to acknowledge their homes may not be as valuable as they once were. And some experts believe the worst is still to come – if you need to sell, a sell house quick scheme could be the most painless way out.