As a nation in the grip of recession, many of us have found ourselves facing financial woe and taking steps to economise. For those facing more severe debts, a prudent move is to sell up property. Through such an estate short sale, sellers are able to avoid bankruptcy and clear their amassed debts.
The Value Of Bricks And Mortar
For most people, buying a property will be the most expensive purchase they ever make, a long term investment to see them through to old age. Whilst certainly a big financial decision to make, making a house purchase is something that is always worthwhile. The list of benefits is extensive. It is an opportunity to put down roots and attain a sense of stability and security. It allows freedom of expression and taste to a much greater extent than is possible in rented accommodation. Plus, from a financial perspective, in is often cheaper month on month than renting a place to live.
A Financial Dilemma
However, since late 2008 the UK has been mired in the depths of recession and most of us have found ourselves having to tighten our belts as a result. Prices have increased yet wages have stagnated, even dropping if examined in real terms. As a result, severe cutbacks have had to be made, with weekly food shops simplified, clothing made to last and exotic holidays getting the chop. Unfortunately, for some, this has not been enough to stave off ever-increasing debts. UK-wide, people have been forced to sell on their homes and estate agents Cardiff to London have seen an influx in people looking to sell their property as quickly as possible.
Making The Most Of A Short Sale
Financial hardship, missed mortgage payments or greater debts than the worth of your house, all these are factors that can qualify a home for a short sale. Defined briefly, a short sale in property terms, alternately known as a pre-foreclosure sale, is the quick sale of a property for less than the remaining mortgage balance in order to cover a sum as agreed with the mortgage lender and avoid complete financial ruin and bankruptcy. There are many urban hubs that have seen a surge of movement in the property market as owners move to sell their houses. As the largest city and capital of Wales and the tenth largest in the UK overall, Cardiff is one of these. From Adamsdown to Whitchurch, you will easily find your estate agents in Cardiff to help you in your property short sale.
The short sale solution may feel far from ideal as, after all, no one wants to give up their much loved house and home, but it is one of the simplest and quickest ways to clear debts. Additionally, by using estate agents Cardiff to London and everywhere in between, the process can be made much simpler and the pain of contemplating a short sale eased.
Jennifer is a writer who contributes on a regular basis to a number of financial websites and forums. Based in Wales, she is a specialist in mortgage lending and the Welsh housing industry. Keen to spread her knowledge, she works closely with local estate agents to help you find your estate agents in Cardiff and beyond.