How Property Trading Companies Work
Firstly you will need to make contact with a Property Trading Company. You can find such companies on the Internet and, as with other services, always shop around to get the best deal.
The Trading Company will require certain information from you such as what the asking price is on your property, the location, number of bedrooms, how long it has been on the market etc. They will then send someone to your property to view it and can usually make an offer within a few hours of the viewing.
Many companies will offer to pay your solicitors and other fees by factoring this into the price they offer you for the property.
Property Traders will usually offer you three options:
- To sell your house and move to another property.
- To sell your house to the trader but continue to live there by renting it back for a lower price than you were paying for your mortgage.
- To sell your house with an option to buy it back at a later time from the trader for a fixed price.
In order to get a sale with a Property Trading Company you will usually need to have equity in your house in order to pay off the mortgage on the property. Traders make their money by selling on the property for a higher value than they bought it and pocketing the difference.