Published on : 01 February 20192 min reading time
When one is preparing to sell a property, unforeseen events such as a divorce, a job loss or a death can have catastrophic financial consequences, often leading to the obligation to sell the property in a rush, sometimes at a loss…
Case of a divorce
When a couple separates, the spouses wish to sell quickly to live under a different roof and as quickly as possible.
Case of succession:
Heirs generally have 6 months to pay the notary fees due during an inheritance. The amount to settle can be several thousand Euros sometimes much more in the context of a distant estate (uncle) the percentage may be 65%. Sometimes the financial capacities of the heirs are low and the property must be sold because of succession very quickly. In some cases, such as indivision when the number of heirs is large, it is sometimes difficult to find a quick agreement.
The job market imposes more and more mobility to the employees. The transferees wish to conclude the transaction quickly in order to settle in their new environment.
Dwellings that are no longer inhabited
Only on real estate listings, it is possible to locate apartments or houses that are no longer inhabited. An empty good is no longer used and costs money in maintenance and local taxes to its owner. In addition, if it was a former main residence, sellers have only one year to sell before this housing is considered as a secondary residence and therefore subject to capital gains taxes. You can also notice this by visiting the property.
Case of an end of loan relay
Although since the crisis of 2008 the number of bridge loans has decreased sharply, some households find themselves at the end of bridge loan and are forced by their bank to find a buyer very quickly under pain of see seize the good.
Cases of financial problems
Buyers have financed their purchase to the maximum of their debt capacity, the economic crisis of 2008 has made purchasing power vulnerable and many households have found themselves unemployed or suffer from income reductions, they do not have any other choice but to resell their homes quickly in order to put an end to the critical situation they’re in.
Buying a property: go for a house or an apartment?