I need to sell my flat. There is none or very little equity in the house (due to current financial climate)
If I sell it normally, I have to pay for all the estate agent, solicitor fees etc etc which I can afford & cant claim back from profits made on house (as I doubt there will be enough)

I have heard of sell & rent back agencies, but I dont want to rent it back… if they take it off my hands & cover the legal fees i’d be happy.

Is there anywhere that does that? (UK)

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A seller and a buyer have different standards in home buying and selling. A seller would want to sell his or her property according to what the market dictates. Nevertheless, anything lower than that might be unacceptable. On the other hand, the buyer would want to make sure everything is in good condition. If they can still get an opportunity to lower the price, they would naturally grab it. 

But the good in home buying and selling is there will always be room for negotiation. Each of the desires of the buyer can be requested and the seller has the right to accept or decline. A seller can tweak their demands, and the buyer can, in return, accept or decline. Until such time, both parties agree and both of them would commit to the purchase agreement or contract. 

The scenario above may arise after a home inspection. Why? This is because home inspection uncovers defects of the house. Any major deviation from building codes and standards will be discovered through this process. As a result, a buyer would normally want to have these damages fixed before they pay for the property. This is where they make new conditions and create a new offer to satisfy their wants. 

One thing a buyer should keep in mind is that a seller is not obliged to fix every defect of the house. What more if they have disclosed the damages in the beginning. However, it is their responsibility to sell a property that is livable and at the right price. So you can expect major systems to be functional. Therefore, some of the defects may be taken cared of, but some may not. 

If the standards set by the buyer are not met, the next thing to negotiate with is the price. The original offer can slide down a few thousands. However, you also have to look into the original amount. If asking price is approximately equivalent to the fair market value and the defects were disclosed, be reasonable. Do not drive the price low more than it already is. For sure, the seller won’t accept. And this could mean losing your chances of obtaining the property.

Negotiation keep on going and going until both parties meet their demands. One thing buyer should know is the seller is not obligated to fix all the defects of the home, especially when they were advertised. Although, they have the right to keep on negotiating. There can be limitless offers and counteroffers, if both parties are really determined. However, a buyer should know when to withdraw an offer. If they could not just find a common ground with the seller, then there’s no point of pushing for what they want. Buyers would just end up wasting the seller’s time and their time to find another good property. 

Just keep in mind to withdraw an offer or purchase within a specific period. If the negotiation fails, do not dilly-dally. Otherwise, you may end up losing your earnest money and possibly be sued for failing to meet the terms of the contract.

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There are many factors you need to consider when shopping for a home; how much you can afford is likely at the top of the list.  Your budget affects your choice of home, the neighborhood it is in, size and other features.  Your financial situation is also a deciding factor on which type of financing will work for you.

Lenders will look at more than just income when considering you for a loan and determining the size of a loan you can qualify for.  You may find some creative financing options that help boost your purchasing power.

Pre-Qualification or Pre-Approval

New homebuyers can have their real estate agent or lender pre-qualify them for a loan.  This is a quick process that can give you an idea as to the amount of a mortgage you can afford.  Pre-approval is a more formal process where a lender verifies all data and agrees in advance that you are qualified for a specific amount.  A pre-approval document is much better than a pre-approval letter when demonstrating your strength as a homebuyer.

Important Factors to Lenders

Lenders will use several factors to determine how much money they will loan you, including:

• Gross monthly income
• Credit history
• Outstanding debt
• Savings
• Your choice of financing
• Current interest rates

Lenders will gather your financial data to calculate two important ratios; your debt-to-income ratio and your housing expense ratio, to determine how much they will loan you.

Debt-to-income ratio is your total monthly debt (car payment, student loans, credit cards, etc…) compared to your total gross income.  Lenders like to see monthly debt at no more than 36 percent of gross monthly income.

Housing expense ratio is the amount of your mortgage payment compared to your gross monthly income; your mortgage payment should not be more than 28 to 33 percent of gross monthly income.

Lenders may be more lenient with the ratios if the buyer can make a large down payment.  Many mortgage terms are negotiable.  There are other ways you can improve your purchasing power.

Gifts are nice!  Lenders will allow you to use gift funds for your down payment.  A friend or relative can give you the money and sign a gift letter which states that the money is a gift, not a loan that must be repaid.

You can negotiate closing costs; a good real estate professional will provide advice on this and include seller concessions in the purchase agreement.  Seller concessions are when the seller agrees to pay a certain amount of allowable closing costs.

There are many government loan programs with special terms to help first-time homebuyers qualify.  Some may include reduced interest rates, lower or no down payments and other helpful features.  Your real estate agent and your lender should be able to provide information on the various loan programs available to you.

The various loan types with long or short terms, adjustable or fixed interest rates should be considered depending on your mortgage needs.  There are significant differences between different loan types that can make one more beneficial than another depending on your individual situation.

There’s a reason why Naples is called the “Crown Jewel of Southwest Florida.” Perhaps it’s the miles of powdery white beaches, the non-stop ocean views and glorious sunsets, or maybe the accessibility to dozens of world-class golf courses. It’s hard to say, but one thing is for certain, once you experience this “jewel”, you’ll never want to leave.

Don’t take my word for it; here are ten reasons why people move to Naples.

1. The beaches. Seven miles of white sandy beaches along the Gulf of Mexico make Naples’ beaches some of the best in the world. Choose a public beach park, or find your own secluded stretch of paradise, spread out a blanket and watch the dolphins swim by.

2. Attractions. Naples has close proximity to dozens of local attractions. You could spend the next year getting acquainted with the different sights and sounds Naples has to offer and still not see everything.

3. The Wildlife. The Everglades and 10,000 Islands provide endless opportunities for bird watching and wildlife viewing via hiking trails, canoe, or kayak. Get up close and personal with dolphins, alligators, manatees, and dozens of species of birds. A trip to the Naples Zoo at Caribbean Gardens provides a unique opportunity to view exotic animals in a historic garden setting.

4. The Golf. Naples has over 35 golf courses, all only minutes away. In fact some of the most beautiful homes in Naples are located alongside sprawling fairways, just waiting to be played. Choose from private or public courses with some of the best instructors available. The best part, most courses are open 365 days of the year.

5. The Shopping! Once you’ve experienced the shopping scene in Naples, you’ll never crave Rodeo Drive again. Stroll along Fifth Avenue and Third Street South to experience the one-of-a-kind boutiques, galleries and clothing shops. For upscale designer goods, visit Waterside Shops or Venetian Bay. If you’re looking for bargains, Prime Outlets with over 40 stores is sure to fit the bill.

6. Art & Culture. Most people don’t think of Naples as an outlet for the arts, but that couldn’t be further from the truth. In fact, American Style Magazine named Naples one of the top 25 Arts Destinations in the U.S.

Visit downtown Naples to view local and international works of art at the Naples Museum of Art, or over 90 local galleries. The upcoming Children’s Museum of Naples will feature hands-on exhibits illustrating everything from a “Journey Through the Everglades” to an adventure at the beach. For music, the Philharmonic Center for the Arts is a world class concert venue, and the city hosts numerous events and art festivals throughout the year.

7. Boating. You can spend hours on the Gulf of Mexico fishing, sailing, and exploring outlying islands. For fresh water lovers, there are some gorgeous inland lakes for boating and water sports. You can even choose from waterfront communities that include your own docking facilities.

8. Naples Real Estate. There are few areas along the coast that combine the variety of housing styles and neighborhood choices that you’ll find in Naples. The selection is immense, with options to suit just about every lifestyle. Choose from waterfront or beachfront lot or views, lakefront property, gated communities overflowing with amenities, and over 75 golf course developments. Whether you’re looking to spend $200,000 or $20 million, Naples real estate has something for everyone.

9. Fishing. Even the most enthusiastic fishermen will never get bored trolling the waters off Naples. Although there are many options for deep-sea fishing adventures, the inshore fishing is also popular. For something completely different, take a kayak fishing trip through The Everglades. Spend the day fishing and exploring the islands and then get transported back via motor boat.

10. The Weather. Naples is a tropical paradise where sunny days and warm breezes are the norm. You can expect the occasional shower, but they rarely last long. Expect temperatures in the mid 60’s from January through March, and the mid 80’s from June through September.

This is a real gem. Only 1 mile from downtown Boca Raton. House features covered pool/patio, fenced back yard, unique kitchen with a built in breakfast bar and lazy susan breakfast bar – that rotates. The Jetsons would love this! Spacious rooms throughout with a lovely master suite that features many built-ins. The home also has 2 refrigerators for extra storage. Lots of closets throughout the home. This one is a gem in a quiet East Boca neighborhood. This one won’t last long!! Contact Gerry …

Loss mitigation companies can help you if you are worried about foreclosure of your home. Many people do not realize that they have options available to them if they are facing foreclosure. These options involve negotiations with the lender that very few people know how to do. This is where loss mitigation companies come in. They can help a borrower see the various foreclosure help that is out there and what they can do about it.

Most people feel that if they cannot pay the mortgage under the terms and conditions, that they will end up losing their home when the bank takes it over. They may try to work with the lender, but the lender is interested only in what is good for the lender and not the borrower. Many who try to work with the lender on their own end up going into foreclosure anyway.

When a homeowner seeks out the help of a loss mitigation company, they discover options that are available to them that they might not otherwise have discovered on their own. One of the best options for a struggling homeowner is to go through a loan modification program.

A loan modification program can help a struggling homeowner with their mortgage payments by making the payments more affordable. Often, they can reduce the payment to the point where it will once again be affordable for the homeowner. This can stop foreclosure and keep someone in their home. There are various reasons why people should choose a loan modification. They include struggling to pay a monthly mortgage payment, having a home worth less than what is owed on the debt and a pending financial catastrophe, such as a job loss. The loan modification program can allow someone to stay in their home and wait out the storm, while paying less money on their mortgage.

Loss mitigation companies can help negotiate the best deal for the homeowner who is facing the possibility of foreclosure. Rather than just allow the home to fall into foreclosure, a homeowner can turn everything around in their favor by getting a loan mod. The loss mitigation companies have loss mitigation consultants who are well versed in negotiating loan modification programs with various lenders and a track record of success. They can get you a better deal when it comes to a program to prevent foreclosure, than you can get on your own. You should seek the advice of a loss mitigation consultant at the first sign of trouble in your mortgage

Loss Mitigation Programs – 1st Foreclosure Prevention negotiates with your lender to lower your mortgage payments, avoid foreclosure and negative credit impact.

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