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Property Buyers case study: Stopping a repossession. Tue, 05 Nov 2013 07:42

There are certain situations where a vendor wants to sell their house quickly and this is when a sale to a cash purchaser is an attractive option.

Typically, most house sales take between one and three months to complete, especially if a mortgage is involved. With the number of property transactions falling through on the rise, a cash sale of your property is one way to reduce hassle and stress, and guarantee a quick sale.

In this case study, we explain how we purchased a property for cash in four days:

Last year we received an enquiry from a landlord who was facing repossession due to a significant sum of arrears with the mortgage lender.

The tenant had been in over 3 months arrears, and the landlord was not able to service his mortgage payments. The loan went into default and the lender took an aggressive attitude, whereby they started possession proceedings. The landlord did not want the hassle of dealing with the sitting tenant any longer, and he contacted our property buying company to discuss a quick sale with sitting tenants. 
 
The property was located in Kent, and consisted of a 3 bedroom terrace house. We received a call on Tuesday morning, and we completed the transaction on Friday afternoon!

We took on the problem tenant, did not require a copy of the tenancy agreement, and we paid the seller's legal fees. The seller was able to prevent the lender repossessing the house, and paid back the mortgage from the sale proceeds.

We would have been able to buy the property quicker if required, and our solicitors would be able to complete a transaction on the same day if instructed to do so, although in this situation, completion was required within a few days and not immediately.

Our solicitors are extremely experienced in working around the clock, to turn our transactions around promptly and causing minimum hassle for the property seller. 
 
At Dreamhouse Buyer we buy all types of property, and our team are property professionals who understand property law, valuation, tenancies, and building surveying. We are equally eager to assist quick house sales, as we are to buying property with tenants in situ.

Regardless of your situation, please contact us for a cash offer for your property and we will tailor a solution to suit your wishes.

In addition to the above, we regularly deal with:

    - Sitting tenants - tenants who will not leave or claim to have security of tenure. 

    - Home owners with neighbour disputes about boundaries, extensions, rights of way, issues under the Party Wall Act.

    - Landlord and tenant disputes – rent arrears, disrepair, possession proceedings.

    - Service charge issues relating to residential and commercial properties, and freeholder disputes. 

    - Flats with short leases

    - Property with structural problems, or generally unmodernised. 

    - Home owners facing repossession who require a fast sale of their property with or without tenants.

Find out why we are different to other quick sale house companies >>> here.

Dream House Buyer is a family owned property company that considers all types of property, and we buy property with sitting tenants too. We will make an instant cash offer for any property in the UK, regardless of the size, location, condition or value.

We will buy any property that you might consider a problem - including property with sitting tenants, flats with short leases, problem tenants, unmortgageable and structurally damaged property.  We also buy ground rents and portfolios. If you think we can help, then please invite us to make you an immediate cash offer for your property.

Contact us on 0800 1577 497 or email us info@dreamhousebuyer.co.uk





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