MORTGAGE TROUBLES?

Are you having financial issues, getting divorced or moving away? If you need cash for your property FAST, Goldstein are the agents you need. We’ll get your property sold within 28 days, with total transparency throughout the whole process – all for free!

Here’s how it works:

  1. Contact Goldstein using [insert contact details – email/phone/online form]
  2. We find a potential cash buyer at the best possible price for you, keeping you informed the whole way.
  3. You give up possession of the property at a time you choose.
  4. We pay you the cash!

FAST COMPLETION

If you sell your property through an estate agent, you could be looking at 3-6 months on the market before making a sale at a fraction of your original asking price. When you finally get an offer, you run the risk of a “broken chain”, where your buyer decides to drop out. But if the situation is urgent, uncertainty is not an option. Selling your property with Goldstein is a quick and simple process that avoids broken chains, can exchange within 7 days complete within 28 days.

CASH BUYERS

It’s likely that your property will sell between 10% - 25% less of the market price when you sell it for instant cash – so that our investors will snap it up fast. At Goldstein, our experts will do their best to sell your property at a price that’s fair to you. We’ll also absorb all fees and charges to give you the best chance of making a profit. And the best part is that it won’t cost you a penny.

TOTAL TRANSPARENCY

We keep you informed throughout the selling process and do everything we can to keep that process hassle-free. We don’t want to add to your stress – that’s why we bear all your legal fees and charges. Your satisfaction is our ultimate goal.

LEASE OPTIONS

If you don’t need to sell right away, or you can’t afford to lower the price of your property, a lease option can still relieve you of the burden of a mortgage that you can’t pay. This process takes about 28 days, and it’s flexible enough to work around whatever requirements you might have.

Here’s how it works:

  1. You lease the property to us with an option to buy it at close to today’s market value during a pre-determined period (usually 5-15 years).
  2. We take over your property, including your mortgage, upkeep and maintenance.
  3. You’re now free to move out with no mortgage to pay!
  4. If we exercise our option to buy, you’ll receive an amount close to the market value of your property when you leased it.
  5. If we don’t, the property will be returned to you at the end of the period.

A WEIGHT OFF YOUR MIND

Just like our cash sales, this service is free of charge and takes just 28 days. We exercise our option to buy for at least 90% of lease option properties, allowing you to pay off most or all of your mortgage and, hopefully, make a profit. If we don’t buy your property, we’ll look after it and improve it; you’ll benefit from several years of not paying the mortgage on it and your property may even have grown in value.

IS THIS RIGHT FOR ME?

Lease options are the perfect solution if you:

-          Are in arrears or facing repossession

-          Have little to no equity

-          Don’t need  the cash immediately

-          Need to move out fast and start over without a mortgage

-          Want a price close to your property’s current market value, regardless of the future housing market.

Lease Option - Could it be right be for you?

If you:

  • are facing repossession or have financial difficulties
  • have little or no equity
  • need to move quickly and have no further mortgage requirements
  • want to secure a price that is close to today's full market price

With Goldstein have an alternative choice   –  

The Lease Option

Sometimes selling a property for below its market value to a cash buyer is not the right choice for you, and sometimes it just isn't possible, say if there is little or no equity in your property.

This is when we can consider a process called a Lease Option. This is something that has been widely used in Australia and the US for many years and is now becoming recognised here in the UK as a way of helping desperate sellers to be relieved of their mortgage commitments and move on with their lives within a matter of weeks.

There are two parts to this process, The Lease is one and The Option is the other.

If, for example, you try selling your property with an Estate Agent in the current market, you will find that properties are not selling very quickly and it is possible that your property could be on the market for several months. The Estate Agent would probably suggest you keep reducing the price to attract more interest. But here's the problem, if you don't have much equity in your property it is very difficult for you to reduce the price. When selling to a cash buyer, the buyer is generally looking for a minimum discount of 25% on the market value.

This is where the Lease Option can help. As the seller of the property, you grant us an option to buy the property from you, but in the future. The option period could be for 5 or more years and the price is agreed at close to today's market value for the property. However, now the Lease part takes over as from the time the option is agreed, we take over your mortgage payments and become responsible for the maintenance and upkeep of your property. You may then move out of the property and are released from its demands and obligations.

Depending on the housing market if and when we exercise our option to buy, it is possible that you too could make a profit.

Lease option example, how it works:

Lets say, your property is on the market for £100,000 and you owe £90,000 on the mortgage. You may have to reduce the sale price closer to £90,000 to attract interest from a buyer but that could leave you out of pocket after you pay legal fees, agency fees and repay your mortgage. As well it could take months to sell and meanwhile you're still paying the monthly mortgage repayments.

With a lease option, you would grant us the option to buy your property for £95,000 sometime within the next five years. During this time we will take over all of your monthly mortgage repayments. If we then exercise our option to buy the property at the agreed price of £95,000 you repay your mortgage of £90,000, that means you will have made £5,000 profit as we have no legal fees for you to pay!

If for any reason we choose not to use our option to buy at the end of the option period, the property would either be returned to you, or a further option period granted. By this time you would have had the benefit of not paying the mortgage and will have been given the freedom to get yourself back on track. Hopefully the property would have increased in value. Please note though, that generally the option to buy is exercised.

 

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