It might sound a bit daunting, but why not try and get a quick sale yourself? It’s got a lot easier to find buyers and arrange a sale on your own, and it means you will have more control over the process. You will still need to pay for a solicitor, but selling your house for free, to stop repossession, could be easier than you think, if you look at some of the options that are available.

The first thing you will need to do is decide on your asking price. When you hire an Estate Agent, they will usually value your house for free, as part of their service, but if you’re not going to be using them, they’re likely to charge you for this service. There are other ways for you to decide on your asking price. You’ll know the price you need to stop repossession, and whilst you should always bear this in mind, it shouldn’t be the only consideration. Use any of the house price websites that can tell you what other houses in your area have sold for and what your property might be worth, based on how much you paid and whether prices have gone up or down. Don’t forget to factor in any work or improvements you’ve done, but if you use your common sense, the price you come up with will probably be similar to what an Estate Agent would have quoted.

Once you’ve got your price, you need to find your buyers. To get a quick sale and stop repossession becoming a reality, you need to get as many buyers as possible, as fast as you can. You could hold an Open House event, where you advertise your house for sale and let interested buyers come and have a look round. You usually do it all on one day, or over a weekend, to try and get as many potential buyers as possible.

Make sure you get the contact details of everyone who looks round, so you can follow up with then afterwards. If you make your house look the best it can be, and get enough people through the door, you could get the quick sale your looking for. And if a few people are interested, you might even get more than the asking price. To advertise your Open Day, print flyers on your home printer, or at a cheap print shop, and distribute them round the local area. You might even get your own For Sale sign, with the date of the Open Day, and your contact number to make appointments.

If you don’t like the sound of an Open Day, but still need to sell your house fast to stop repossession, you’re going to have to advertise. The good news is, there are plenty of options to choose from, including some free ones. Your local newspaper and their website are a good place to start. Whilst most people look for houses on the internet these days, people do still read the property press, so go for a combined press and web approach. Look at sites like propertysell.co.uk, houseladder.co.uk and tepilo.com, which are all popular sites buyers are using, and they don’t charge for you to advertise.

If you want to sell your home quick to stop repossession, it doesn’t have to be an expensive affair. Use these free methods to find a buyer yourself and you’ll keep control of the process, and avoid making your debt problems even worse.

If You Need Help & Want Advice Contact SRS Properties

The first thing you need to do if you are getting into debt, even before you’ve missed any payments, is to speak to your lender. Banks know what effect the credit crunch has had on homeowners, so you might be surprised at how keen they are to help. Letting them know you’ve got problems as soon as possible is one of the best ways to stop repossession, and the bank might be able to rearrange your lending to help you out of your current difficulties, and to make sure the problem doesn’t get any worse.

If you make a new agreement with your lender, it’s important that you are able to stick to it – they’re unlikely to keep negotiating, and it will be harder to stop repossession, if you keep letting them down. While most lenders are usually quite helpful, if you feel your bank is treating you unfairly, you have the option to complain to the Financial Services Authority, but this is unlikely to be a quick solution and unless you keep up your payments, your problems could get worse while you’re waiting for help.

If you continue to miss your monthly payments, or fail to keep up with any new arrangements you’ve made with your lender, it’s going to get a harder to stop repossession, but you still have some options, as lenders have to follow certain steps to make sure repossession is always a last resort. Once they’ve made it clear how much you owe them, and given you the opportunity to provide any information to help them understand your situation, if they are not prepared to accept your repayment arrangement, they have to let you know in writing. They also have to give you enough time to respond to any arrangement they suggest.

If you can’t reach an agreement with your lender, they might then resort to legal action to gain possession of your house. However, it is possible to postpone legal action for a number of reasons; if you have made a genuine complaint to the Financial Services Ombudsman, you have a mortgage payment protection policy that is due to pay out, or you are taking steps to sell your property at a realistic price. Whilst these steps might not stop repossession, they may slow the process down, to give you more time to find a solution.

If you are unable to prevent your bank from taking you to court, you should still explore all your options, even up until the court date. Even if you end up in court, the judge may still decide in your favour if you can provide a suitable defence, for example, if the lender has been unreasonable, you meet the court’s arrangements to repay the arrears, or you need more time to sell your home. If the court decides that you do need to leave the property, there might not be much else you can do to stop repossession, but with a clearly laid out process, designed to help the homeowner as much as possible, you should hopefully have enough chance to prevent it getting that fair.

With repossessions at some of the highest levels in years, more and more families are facing the threat of losing their homes because they can’t keep up their mortgage repayments. Whether by choice, because they’ve had to sell, or because they have been evicted from their property, the pain of losing their greatest asset is often made much worse by having to leave a home they’ve put so much in to. However, if this is a situation you find yourself in, there may be an alternative. You could still sell your home quickly, to stop repossession, but arrange to rent your property back, so you don’t have to move out. There are plenty of organisations that offer “sell and rent back” schemes, so how do they work?

Getting an organisation to buy your property and then rent it back to you, as a way to stop repossession, is nothing new, and there has been a successful market for these kind of house sales for years. While most businesses provide a genuine solution to those who are having problems with their mortgage, recently, the Financial Services Authority has started to regulate this market, to make sure homeowners are being treated fairly. So the first thing you need to do, if this looks like your best option to stop repossession, is to make sure the companies you are talking to are FSA registered.

It’s usually a good idea to speak to more than one organisation, to make sure you get the best offer for your house. Make sure they use a surveyor who is registered with the RICS, so they are basing their offer on the realistic market value of your property. The offers you get will usually be slightly less than the market value of your property, so whilst these schemes are a good way to stop repossession, make sure you are not losing too much money just because you need a quick sale.

Once you have agreed a value for the sale of your home, you then need to arrange the terms for renting it back. Most organisations will provide you with a long term rental agreement, often up to 5 years, so you have the security of knowing you can stay in your home for the foreseeable future. Check what happens at the end of the rental period, you should be able to get the option to expend your lease, and sometimes you can even buy your property back. It’s also a good idea to understand who you will actually be renting the property from, to make sure you have a reputable and reliable landlord, who will charge you a fair market rent throughout the term of your lease. Don’t be afraid to ask plenty of questions, and if you’re using a reputable company, they should be happy to answer them all.

Selling your home quick and agreeing to rent it back, might be your best option to stop repossession, and still stay in your home, but make sure you’ve looked into it thoroughly, and considered all the alternatives. As well as losing some of the equity in your house, with interest rates as low as they’ve been, you might find that your rent is the same, or more, than you were paying for your mortgage. Of course, you may be able to manage this once you’ve cleared your arrears and used any additional equity to pay off other debts, but it’s something you might want to get more advice on. Selling and renting your house back could be a good way to stop repossession in the short term, but you want to make sure you don’t end up with more problems further down the line.

If you don’t take steps to stop repossession and wait until you’re evicted, or simply hand the keys back to your lender and walk away from your house, you might find your problems only get worse. Once the bank takes possession, they will usually sell your house at auction, often getting a much lower price than if you’d sold it yourself. Plus, you will be liable for the difference between the auction sale price and what you owed. But selling your house is never the easiest thing to do, so when you have the added pressure of trying to stop repossession from taking your biggest asset away from you, what’s the best way to get a quick sale?

The usual method of going through an Estate Agent to sell your house might seem like a good option, but most house sales can take up to 3 months, and that may not be quick enough to stop repossession. Because you want a quick sale, you might have to set your asking price substantially below the market value, and as buyers rarely offer the asking price, you could end up with a lot less than you need. Even if the agent does find a buyer that agrees to pay what your house is worth, if they have to sell their house as well, the process could take much longer, and even fall through altogether.

So what are the alternatives? Well, there are organisations who are able to help homeowners who are trying to stop repossession by getting a quick sale for their house. These businesses will buy your house for cash, and look to complete the sale within a fraction of the time it usually takes, sometimes in a matter of days. Most of these companies know the pressure that repossession puts on families, and try to do everything they can to make the process as quick and easy as possible, while still making sure you get a fair price for your property.

There are plenty of organisations like this that can help you, but make sure you carry out some basic checks to ensure you are working with a reputable business. They should be using surveyors who are RICS (Royal Institute of Chartered Surveyors) qualified to value your property, so you get a true market valuation. There should be no hidden fees or charges – in most cases they will usually cover all the legal and valuation fees, and of course you won’t have to pay any Estate Agents’ fees – in fact most of the time, you shouldn’t have to pay anything at all.

Companies that will arrange a quick sale for you will usually offer slightly below the market value for your property, and you may want to shop around for the best offer. While you might not get the same price as you would if you sold your house the traditional way, and you usually need enough equity in your property so the purchase price will cover what you owe, these businesses can be a genuine way to stop repossession and offer a real alternative to anyone struggling to pay their mortgage.

There are many reasons why people fall behind with their mortgage payments such as redundancy, divorce or separation, bereavement & ill health. In most cases of repossession the home owners have simply done nothing at all to try & get themselves out of the trouble they find themselves in & have just ignored all letters & calls from their lenders, typically just hoped the problem would somehow “just go away”.

The first step you must take to stop repossession is to talk to your lender as early as possible when you get into difficulty. Explain your predicament to them and see if there is any way they can help you. The solution may be as simple as giving you a “payment holiday” where they will suspend your payments for a set period whilst you sort out the underlying reasons for your inability to meet your mortgage payments. This will of course depend upon your exact circumstances but one thing is for sure, unless you speak to your lender they cannot help you. Ignoring your lenders letters & calls is a sure way to set them on the course to apply for the repossession of your home.

You should also speak to the citizens advice bureau (C.A.B) to see if they can help you stop repossession, explain your situation to them & they may be able to suggest solutions or put you in touch with someone who can give you free financial advice to help your situation. A good financial advisor will be able to provide you with the steps you need to ease your financial predicament as quickly as possible.

You may be thinking that the repossession of your home will end your money worries in that it will relieve you of your mortgage burden. However your lender may try to recover the money you owe them by selling your property quickly at auction. Your property may be sold well below its current value & could still leave a shortfall meaning you will still owe your lender. Another problem of repossession is the effect it has on your future financial situation, years down the line you may be back on your feet & be ready to become a home owner again, however you will find it difficult to get credit from credit or store card companies let alone mortgage providers because you have previously defaulted on an early loan. Any credit you may get will come at a cost in that you will certainly have to pay higher interest rates than those who have a good credit history.

A solution to your problem may be to sell your property to a SRS Properties, (as long as you have enough equity) quickly for cash to clear off your debts & stop repossession. You should get a better price from SRS Properties than that which your lender would get selling at auction meaning you will have more cash to pay off your debts. This will also help with your credit history as you will not have defaulted on your loan. SRS Properties may also allow you to stay in your property as a tennant, meaning you not only pay off your debts but you also still have a roof over your head. We will also pay your legal fees.