It isn’t always necessary or the most efficient way to buy and sell properties in the current climate using estate agents, particularly as more often than not the fees they command can become a deal breaker!
A commission free transaction can indeed be the solution. Nest Egg Homes is one of the revolutionary companies in the UK coming up with innovative ways to keep an almost stagnant market flowing…
Such options are often referred to as Guaranteed Home sale options and are a welcome relief to those residing in areas saturated with properties massively discounted with a view to securing a sale quickly. Nest Egg Homes specialise in providing the know-how and the relief to Vendors who need to sell quickly (often Estate Agents are not the answer in this case).
The schemes work in a very simple way. Once a purchase price has been agreed between the vendor and the acquisition company (Nest Egg Homes), the program involves the immediate possession of the sellers property by the company, who will then take over any finance payments secured against it until the date of completion.
The benefits of Guaranteed Home Sale options mean the stress of maintaining mortgage payments is completely alleviated and certainly will stop the risk of repossession and arrears causing unnecessary commitment to debt.
To conclude, guaranteed home sale schemes are really suited to anyone considering selling their property. Not only does it mean a quick sale is achieved but often full market value offers are achieved! Finally, you beat paying unnecessary estate agency fees.
Thursday, 27 May 2010
Thursday, 13 May 2010
RENT TO OWN = WIN + WIN SITUATION
At Nest Egg Homes, we know that one of the best solutions for dealing with property in the current climate is to work with Rent to Own options. We know this from the perspective of the tenant buyer and the vendor. Please see our Youtube videos with accounts from a selection of our happy tenant buyers.
This is how we find it works for us:
1. We ask for a small deposit from the tenant buyer
2. Followed by monthly rent
3. Followed by a small monthly top up rent
4. The price of the property remains fixed for the Rent to Own agreed time scale. We find 3-5 years works well for us and suits our Tenant Buyers.
At Nest Egg Homes we find the analogy of Rent to Own being a lot like purchasing a vehicle on finance/ leasing a vehicle (something most of us have done and are comfortable doing).
So, when purchasing a car you leave the showroom having paid a deposit payment to secure the purchase of the vehicle. The equivalent to this is the small initial deposit the tenant buyer places when agreeing to purchase a property over an extended period of time. After you have driven out of the showroom you make monthly payments again securing the vehicle as yours at the same time as reducing the loan amount. With a Rent to Own property transaction this is where the monthly rent and top up rent payments are relevant.
The final stage of course is to secure the purchase of the property and having saved between a 10-12% deposit this means options to shop for a mortgage open up to the tenant buyer in a similar way with a car purchase; you have an option to return the car to the dealership in good condition or finance out the price of the car and purchase it. At Nest Egg Homes we call the individual looking to purchase the home a tenant-buyer because he or she is first a tenant, renting the property for an agreed-upon period of time, and later becomes the potential buyer – executing their Exclusive Right to purchase.
The Exclusive Right to Purchase means that, if the tenant pays the up front deposit, maintains the rental agreement by paying their monthly agreed rental money as well as their agreed monthly ‘top up’ money and wishes to purchase the home at the end of the rent to own contract, he or she has the exclusive right to purchase the home without the vendor putting it on the market. However, the individual is not obligated to do so; much like someone who purchases a car on finance can simply return it at the end of a contract. Usually, however, the person will decide that they don’t want to move and will obtain the mortgage loan that will allow them to purchase the home from you at the original agreed fixed price.
At Nest Egg Homes we find ideal tenant buyers are identifiable by the following characteristics or indeed set of circumstances…
• First time buyer struggling to get on the property ladder…
• People struggling to raise a large deposit…
• Currently renting and wanting to own a property…
• Have impaired credit and cannot raise finance…
• Recently moved to the UK…
• Returning to the UK from abroad…
To summarise, at Nest Egg Homes we know the rent to own process can help tenant buyers get into a house they otherwise would not qualify for and also help reluctant landlords or property owners stuck with properties that cannot sell on the open market realize their key objective to SELL. The tenant buyer places a deposit up front that then continues to pay an agreed upon amount for the terms of the rent-to-own contract. At the end of the contract, the tenant-buyer obtains the money to purchase the home. Everyone in the equation is a winner!
http://www.youtube.com/watch?v=wGF5zfBhfKA - link to a video interview from a satisfied Rent to Own landlord.
http://www.youtube.com/watch?v=SOFXksnjEDE&feature=related - link to video testimonial from satisfied tenant buyers.
For more information on how Nest Egg homes can answer your property needs contact Duncan Belton on 01642 880030 or email Duncan@nestegghomes.co.uk
This is how we find it works for us:
1. We ask for a small deposit from the tenant buyer
2. Followed by monthly rent
3. Followed by a small monthly top up rent
4. The price of the property remains fixed for the Rent to Own agreed time scale. We find 3-5 years works well for us and suits our Tenant Buyers.
At Nest Egg Homes we find the analogy of Rent to Own being a lot like purchasing a vehicle on finance/ leasing a vehicle (something most of us have done and are comfortable doing).
So, when purchasing a car you leave the showroom having paid a deposit payment to secure the purchase of the vehicle. The equivalent to this is the small initial deposit the tenant buyer places when agreeing to purchase a property over an extended period of time. After you have driven out of the showroom you make monthly payments again securing the vehicle as yours at the same time as reducing the loan amount. With a Rent to Own property transaction this is where the monthly rent and top up rent payments are relevant.
The final stage of course is to secure the purchase of the property and having saved between a 10-12% deposit this means options to shop for a mortgage open up to the tenant buyer in a similar way with a car purchase; you have an option to return the car to the dealership in good condition or finance out the price of the car and purchase it. At Nest Egg Homes we call the individual looking to purchase the home a tenant-buyer because he or she is first a tenant, renting the property for an agreed-upon period of time, and later becomes the potential buyer – executing their Exclusive Right to purchase.
The Exclusive Right to Purchase means that, if the tenant pays the up front deposit, maintains the rental agreement by paying their monthly agreed rental money as well as their agreed monthly ‘top up’ money and wishes to purchase the home at the end of the rent to own contract, he or she has the exclusive right to purchase the home without the vendor putting it on the market. However, the individual is not obligated to do so; much like someone who purchases a car on finance can simply return it at the end of a contract. Usually, however, the person will decide that they don’t want to move and will obtain the mortgage loan that will allow them to purchase the home from you at the original agreed fixed price.
At Nest Egg Homes we find ideal tenant buyers are identifiable by the following characteristics or indeed set of circumstances…
• First time buyer struggling to get on the property ladder…
• People struggling to raise a large deposit…
• Currently renting and wanting to own a property…
• Have impaired credit and cannot raise finance…
• Recently moved to the UK…
• Returning to the UK from abroad…
To summarise, at Nest Egg Homes we know the rent to own process can help tenant buyers get into a house they otherwise would not qualify for and also help reluctant landlords or property owners stuck with properties that cannot sell on the open market realize their key objective to SELL. The tenant buyer places a deposit up front that then continues to pay an agreed upon amount for the terms of the rent-to-own contract. At the end of the contract, the tenant-buyer obtains the money to purchase the home. Everyone in the equation is a winner!
http://www.youtube.com/watch?v=wGF5zfBhfKA - link to a video interview from a satisfied Rent to Own landlord.
http://www.youtube.com/watch?v=SOFXksnjEDE&feature=related - link to video testimonial from satisfied tenant buyers.
For more information on how Nest Egg homes can answer your property needs contact Duncan Belton on 01642 880030 or email Duncan@nestegghomes.co.uk
Wednesday, 12 May 2010
CALLING ALL FRUSTRATED VENDORS
ARE YOU A FRUSTRATED VENDOR?! WE CAN HELP!
Are you a vendor experiencing difficulty selling your property due to the economic climate, or you are worried because you are not receiving offers that cover the finance taken against the property, then you should be investigating the options available to you now with Nest Egg Homes.
As a vendor, it helps to be in a position to exchange contracts immediately. The scenarios that would allow this could be:
*Home owners or developers who owe more on their property than the current market value.* Developers with multiple properties which they are unable to sell.* Couples going through a separation who have a house with little or no equity in it, and require a quick sale solution.* Existing property owners facing the threat of repossession, or those who need to sell quickly for different reasons i.e. relocation.
* Perhaps you have acquired property through a ‘deceased estate’.* In fact, Nest Egg Homes solutions are available to anybody who wants to sell their property quickly, and is prepared to wait a short time into the future to release the equity.
If you have become disillusioned with the service offered by your estate agent(s), believe that your property is taking too long to sell, or feel that you will find it difficult to achieve the asking price required to cover the finance against your property, do not hesitate to contact Nest Egg Homes offering a guaranteed home sale solution. Ask to see how their programs can benefit you.
One example of a solution is taking over immediate occupation rights of the property and assuming responsibly for all finance secured against it while a price representing market value is agreed upon and a date for completion is arranged. The benefits of using a scheme of this nature are:-* An immediate sale of your property* No Estate Agent commission or fees* No hanging around while a purchaser tries to raise funds* No potential break in any chain causing a property sale to fall through.
Contact Duncan Belton Nest Egg Homes or check out www.nestegghomes.co.uk/ 01642 880030
Are you a vendor experiencing difficulty selling your property due to the economic climate, or you are worried because you are not receiving offers that cover the finance taken against the property, then you should be investigating the options available to you now with Nest Egg Homes.
As a vendor, it helps to be in a position to exchange contracts immediately. The scenarios that would allow this could be:
*Home owners or developers who owe more on their property than the current market value.* Developers with multiple properties which they are unable to sell.* Couples going through a separation who have a house with little or no equity in it, and require a quick sale solution.* Existing property owners facing the threat of repossession, or those who need to sell quickly for different reasons i.e. relocation.
* Perhaps you have acquired property through a ‘deceased estate’.* In fact, Nest Egg Homes solutions are available to anybody who wants to sell their property quickly, and is prepared to wait a short time into the future to release the equity.
If you have become disillusioned with the service offered by your estate agent(s), believe that your property is taking too long to sell, or feel that you will find it difficult to achieve the asking price required to cover the finance against your property, do not hesitate to contact Nest Egg Homes offering a guaranteed home sale solution. Ask to see how their programs can benefit you.
One example of a solution is taking over immediate occupation rights of the property and assuming responsibly for all finance secured against it while a price representing market value is agreed upon and a date for completion is arranged. The benefits of using a scheme of this nature are:-* An immediate sale of your property* No Estate Agent commission or fees* No hanging around while a purchaser tries to raise funds* No potential break in any chain causing a property sale to fall through.
Contact Duncan Belton Nest Egg Homes or check out www.nestegghomes.co.uk/ 01642 880030
GOT THE INCOME BUT NOT THE DEPOSIT
Have you just woken up this morning filled with the realisation many of us have – “all the rent I’m paying is going into a bottomless pit”!
Many of us have been forced into a situation where we have to rent when all we want is the opportunity to get on the property ladder.
The most common hindrance is that although we may have savings they are not sufficient to make a deposit on a property while lenders are asking for 30% deposits and a squeaky clean credit score!
Well, you may need to be aware that there are solutions available and one that is turning the market round is becoming a “Tenant Buyer”.
The key elements of a Rent to Own property are:
* A fixed purchase price, with an option to buy in 3 years or less.* Pay a one off deposit, deductible from the fixed purchase price.* Pay a ‘Top Up’ rent acting as credits deductible from the fixed purchase price.*You can make any desired improvements to the property
The benefits of a Rent to Own property are:* An agreed fixed purchase price, set in stone with no fluctuations, no gazumping, no nonsense.* Pay an affordable rent that reduces the final purchase payment, aiding the deposit required by major lenders.* Obtain a certain credit history that satisfies all mortgage lenders. Note: By proving your able to rent and pay on schedule and on time, gives major lenders confidence that you are a good reliable payer.* Live in your house from day 1, so there is no need to move to another area.* No trawling of the many property websites and pounding the streets viewing unsuitable properties.* Your safe in the knowledge that you’ve already found your home and build for the future.* Gain equity in your home before you own the property. As property prices adjust you will directly benefit from fixing your purchase price today.
Rent to Own or becoming a tenant buyer is ideal if:
- A first time buyer struggling to get onto the housing market - Struggling to raise a large deposit - Currently renting but want to own your own home - Have impaired credit and can't raise finance - Have recently moved to the UK No mortgage is required whilst renting/buying.
Contact Duncan Belton Nest Egg Homes or check out www.nestegghomes.co.uk
Many of us have been forced into a situation where we have to rent when all we want is the opportunity to get on the property ladder.
The most common hindrance is that although we may have savings they are not sufficient to make a deposit on a property while lenders are asking for 30% deposits and a squeaky clean credit score!
Well, you may need to be aware that there are solutions available and one that is turning the market round is becoming a “Tenant Buyer”.
The key elements of a Rent to Own property are:
* A fixed purchase price, with an option to buy in 3 years or less.* Pay a one off deposit, deductible from the fixed purchase price.* Pay a ‘Top Up’ rent acting as credits deductible from the fixed purchase price.*You can make any desired improvements to the property
The benefits of a Rent to Own property are:* An agreed fixed purchase price, set in stone with no fluctuations, no gazumping, no nonsense.* Pay an affordable rent that reduces the final purchase payment, aiding the deposit required by major lenders.* Obtain a certain credit history that satisfies all mortgage lenders. Note: By proving your able to rent and pay on schedule and on time, gives major lenders confidence that you are a good reliable payer.* Live in your house from day 1, so there is no need to move to another area.* No trawling of the many property websites and pounding the streets viewing unsuitable properties.* Your safe in the knowledge that you’ve already found your home and build for the future.* Gain equity in your home before you own the property. As property prices adjust you will directly benefit from fixing your purchase price today.
Rent to Own or becoming a tenant buyer is ideal if:
- A first time buyer struggling to get onto the housing market - Struggling to raise a large deposit - Currently renting but want to own your own home - Have impaired credit and can't raise finance - Have recently moved to the UK No mortgage is required whilst renting/buying.
Contact Duncan Belton Nest Egg Homes or check out www.nestegghomes.co.uk
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