Quick Property Sale & Rent Back Market to be Regulated

Quick Property Sale & Rent Back to be Regulated

The Government has this month published a summary of responses to its consultation of the quick property sale and rent back market, which closed in May 2009. The FSA will publish the details of its regulatory regime, which will take effect on 1 July 2009 subject to Parliamentary approval.

The Government’s consultation followed an Office of Fair Trading (OFT) market study published at the end of last year, which looked at the impacts of the growing quick property sale and rent back market. The OFT report identified a number of risks to homeowners entering into these arrangements and made three recommendations to Government, including compulsory regulation, increasing consumer awareness and improving information about housing benefits.

The proposed legislation includes a two-stage approach to regulation, in order to ensure consumers are protected as quickly as possible in the current market environment.

The FSA will put in place its full regulatory regime in the second quarter of 2010, following consultation and the publication of its final rules.

EstateAgencyFeesDirect.com will incorporate the findings and work to ensure that only regulated companies are listed.


Regulating Sale and Rent Back
3 June, 2009
MortgageIntroducer - Daily News

What is Tepilo?

Taken from Killer Startups website, more information can be found on this new property website, brainchild of Sarah Beeny...

Tepilo.com

This is an online resource that was launched in the summer of 2009. If you want to get all the benefits of a responsible and professional company that will gives you highly professional services, this is the right site for you to take a look at.

Tepilo is a totally novel service that was created, designed and developed by Sarah Beeny, in order to give users the possibility to get have a new experience when it comes to selling their homes.

In case you want to change the way you think about buying and selling your home for quick property sales, this is the site for you to visit. This exclusive online resource provides you with a large amount of innovative new tools to help you buy or sell and renovate a property online.

This is made possible through a comprehensive and free way to get results without going through an estate agent, which can bear considerable costs. Properties are extensively viewable, and renovation tips are given from a celebrity property expert.

In case you are interested in this service take a look at the site at Tepilo.com

Will be interesting to see what the service can offer without need of estate agency although it sounds like you may need to become an estate agent yourself to use the tools!

Look forward to the summer.

Quick Property Sale Comparison Service Press Release

EstateAgencyFeesDirect.com is fast becoming the recognised market leader and generating hundreds of comparison quotes each month on behalf of property sellers nationwide. The site has now expanded its unique estate agents fees service to include comparisons of Below Market Value (BMV) offers provided by quick property sales companies.

In much the same way the main estate agency comparison service works, sellers send their property & contact details to a panel of Quick Property Sales purchase companies operating nationwide via a single form. Panel members are alerted and have the option to offer the seller their best Below Market Value (BMV) offer enabling the seller to select the best one that suits their particular needs. In effect seller would be auctioning their property to the highest bidder to realise a higher BMV rate for their property when sold.


Amanda Thorne, Business Development
'In the current economic climate one of the many casualties is slow house sales and lenders not having the appetite to remortgage all properties. Many homeowners and property landlords are left searching for alternative ways to sell property quickly and efficiently.

There are many different reasons why they may need to sell properties fast. It could be to avoid repossession, an impending bankruptcy, breaking a chain of house sellers, probate properties, divorce settlement, even looking for a sale and rent back solution or an equity release solution.

There is no other online resource available for comparing these offers and many sellers often go with the quickest solution or the first company they approach; with this not always being the best offer they could receive.

Originally a few companies had the market cornered and would offer 70% BMV for a property. Using our unique and free service they could actually find a better offer of around 90% Below Market Value (BMV) if they are prepared to shop around.'

Although there is no-obligation using the site, as with any property transaction of this type, sellers are advised to seek independent financial legal advice. Any quotes generated via the site are subject to written agreement between all parties.

Recent statistics indicate that there are increasingly more debt-saddled homeowners and landlords in the UK. The amount of people seeking to sell their homes and properties through these companies has risen dramatically in the last year. Being able to secure the best deal to limit any losses is now more important than ever.

Buy to Let investors who would have normally used estate agents to find suitable properties are turning to quick property sale companies seeking below market value bargains. By avoiding estate agents altogether they can negotiate a better deal for themselves and the seller too.

With the addition of the Quick Property Sale comparison service, EstateAgencyFeesDirect now provides property sellers with the only online resource for comparing and maximising their property sale services.


Note to Editors:

Since launch in late March EstateAgencyFeesDirect have added many of the top professional property sale companies operating in UK aiming to provide sellers with the best guaranteed cash offer for their home or property.

With close affiliations with other property buying and selling services such as obtaining & comparing Home Information Pack costs, Chartered Surveyors, Domestic Removals and International Removal firms EstateAgencyFeesDirect now provides home buyers and sellers options for comparing all the different property buying and selling services available to maximise the properties sale.

Tips for Choosing an Estate Agent for that Quick Property Sale

Most of us find selling their property tedious and difficult especially if it is the first time they go through this experience.

Some Estate Agents can provide all the additional services you need in order to make it easier for you, but at a cost.

Choosing the best Estate Agent can prove to be very tricky and time consuming. Thanks to EstateAgencyFeesDirect.com this selection process can take less time and you will be able to make a decision based on comparing what each has to offer and compare quotes.

There are several factors to be considered when choosing the correct estate agent to handle the sale of your property. Here are some of the most important for you to consider.

Carefully read the terms and conditions of the contract before signing it. Yes, you must read the small print and if you are not one hundred per cent sure that the terms are suitable for you, then seek a second opinion.

Avoid committing yourself with an agency for a long period of time. This will give you freedom to change agency if you are not convinced they are marketing your property successfuly within a reasonable period of time.

If you want to have some kind of guarantee that the estate agency is held accountable, then you should look for estates agents that belong to the OEA (Ombudsman for Estates Agents). This will give you peace of mind if you need to complain and sought compensation if things don’t work out as they should.

Using the services of EstateAgencyFeesDirect.com you can not only compare estate agents you can obtain quotes from professional quick property sale companies too.

The Conveyancing Process: What exactly is Conveyancing?

Conveyancing can be described as the legal process by which the ownership of property changes hands from the seller to the buyer. The process of conveyancing can be complex.

As such, the process requires the professional services of either a conveying solicitor or a certified conveyer.

Licensed conveyancers in the UK and Wales are governed by the Council for Licensed Conveyancers, CLC. UK and Wales solicitors on the other hand are governed by the Law Society, and are duty bound by a code of practice.

The Law Society website is quite resourceful in helping property buyers and property sellers contact conveyancing solicitors in their localities. The website also offers insights into how buyers and sellers can use soliciting services and remedial steps in the case of disputes.

The first step in the conveyancing process involves the writing of a draft contract. This contract is then received and negotiations between seller and buyer can begin. A number of enquiries are then made prior to the acknowledgment of the mortgage offer. A date of sale is set and it represents the day on which the buyer will legally own the property.

Upon signing of the contract, the buyer remits a deposit. The deposit is usually set at 10% of the property purchase value. At this point, the buyer is compelled to go through with the deal or risk forfeiting the deposit. This allows the final accounts of the transaction to be prepared and the buyer then appends his/her signature on the mortgage deed. Once this is done, the buyer receives the house keys and the title certificates. The transfer is then settled at the Land Registry subject to the payment of Stamp duty.

You can compare conveyance quotes services at EstateAgencyFeesDirect.com and ensure you'r getting the best value from a nationwide panel.

Sale and Rent Back Article

To sell property fast when faced with a repossession order calls for a specialist company. Trade Buyers of property as they are known can normally complete a house purchase in 2-5 days....read article

Divorce and Quick House Sale Article

Divorce and moving house – two of the most stressful situations people experience in their lives. By using a house buying company, you can sell your house quickly, with the minimum of fuss, and help reduce at least some of the stress involved in getting divorced.read article