5 reasons to sell your house quickly

Here’s a UK perspective on selling your house quickly – it’s an interesting (and sobering) look at a serious situation.

Although nobody wants it to happen, for whatever reason you may be stuck in a situation where you need to sell your house quickly. Here are some of the reasons that you may have to sell your house quickly.

1) Divorce
The latest report from the Office of National Statistics has shown that the number of divorces in England and Wales is continuing to fall, but again, those in their twenties show the highest rates of divorce. The breakdown of a relationship is never pleasant, and often those young people who are ending a marriage will be unable to keep up mortgage payments separately, or afford to buy out their former partner. In these cases, the house must be sold, and the quicker it is sold, the quicker they can move on with their lives.

2) Illness
Illness or accident can take a financial toll on a family. Often families in these situations will choose to downsize to a home that is both more affordable and easier to take care of. In these situations a quick sale is always desirable, as it leaves families with more time to devote to the well-being of the ill person.

3) Debt
The latest research by Aviva found that on average, UK families have debt to the value of half their annual household income. That shocking statistic makes it clear why some families might choose to sell their home as quickly as possible so that they can downsize to a more affordable property and pay off some or all of their other debts. The quicker they can sell their home the less they will need to pay in interest.

4) Inheriting a property
When you inherit a property you may have to take over the mortgage payments or perform upkeep on it. Regardless of whether you want to continue living in your old home or move to the property you have inherited, you may find that you need to sell one of the properties quickly in order to keep above water on your mortgage payments.

5) Leaving the country
More and more of us are considering emigrating to another country. In fact, a recent survey, as covered by the Telegraph, found that nine in ten of us would seriously consider leaving the country some time in the next five years. While it might seem that this would allow a lot of planning, in fact you may need to pick up and leave quickly when you are offered a job. The last thing you want is to have to pay the mortgage on two properties at once while you wait for your old house to sell.