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| Special situations Initially when many people think of properties being sold the vision they will get is of the person who lives there wishing to move and therefore the sale has come about. The next reason that may come to mind is where someone or a group have inherited property, and wish to sell it. However property can come onto the market for a large number of reasons including;-
Providing its not about to fall down, and even maybe if it is, if the plot is worth having, you will see you might be interested. What you will see about some of these cases is that time is important. People holding up a chain may also be in a hurry as they don't want to lose the home they have set their heart on to another buyer, and everyone else is pushing them to move as fast as they are able or even faster. Special situation purchases are where you are able to purchase at a discount for some reason and the most obvious of these is that you have the cash available and can move very quickly. You may also be able to offer them a package that is cost effective to you and leave the seller with a better deal than available elsewhere. A good example of this is a person who is unemployed and not kept their mortgage up, and the house has been repossessed by the lender. The house being sold at auction may fetch a good price or be knocked down as a bargain, the lender just wants to get back the outstanding balance, and will sell at anything above this. The owner in theory gets the difference allowing also for the costs to be covered. Suppose therefore that you were to offer the owner a deal that involved their outstanding balance plus a reasonable sum, they may well take a sum considerably less than the property might go for at auction. In the case of a divorce, both people may be as keen as each other to have nothing more to do with the other and to get on with their new lives, so be prepared to take any offer that can be progressed fast. In inheritance cases likewise you would be surprised at just how desperate some people are to get their hands in the inheritance, taking a far lower sum if its cash now rather than a sale in 3 to 6 months. When you want to buy just one house perhaps it can be difficult to find these bargains exactly when you want them, but at other times you will come across them, or hear of people desperate to sell, about to sell, stuck in chain, who have lost several homes to gazzumping due to the waiting, and a whole collection of others. Sometimes the tempting thing is to offer to be their estate agent and get as much as you can for them, but beware if you don't sell it at lightening speed you will cease to be their friend. The better course of action therefore is to pass on this opportunity to another club member, through the finding service and earn yourself a finders commission. Later you may be able to use opportunities other members have come across, or the clubs other finding services. In concept if you find opportunities and use opportunities you end up equalling out the commissions and charges involved. If you would just rather not get involved, then it would do no harm to point out this web site and that they can contact us and we may be able to package up an opportunity for a member that also nicely fits their requirements. A good deal is one where both sides are happy. It may also be that one of those involved can look at the property being used as the start of a franchise for their own pension fund, allowing them to get the profit of the opportunity themselves.
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