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In this episode, I will cover what to look out for when dealing with companies that buy distressed properties.

Hi, I am Charlotte from Property Saviour. I love property and have been a landlady for over 5 years. I enjoy interior design and work alongside my husband on his property portfolio. 

My goal is to help you sell your distressed property within a few days.
There are several reasons why an owner of a property could end up with a distressed sale scenario, such as an Executor who must dispose of an inherited house to pay beneficiaries.  Other distressed sale situations can include:

• Relocating
• Downsizing due to an illness or injury
• Landlord is retiring and wishing to sell a property with sitting tenants. 

Properties can also become distressed due to personal circumstances or neglect.  If a property has been sitting empty, the condition can deteriorate over time, becoming unsellable to any buyer who needs a mortgage. 

This is normally the case if probate is taking longer than expected or the Will has been contested. It could also be an unfinished renovation project, a property requiring a lot of TLC, or a house with structural issues.  In some cases, the cost of rebuilding isn’t financially viable, for instance, a fire-damaged house in an area of low value.