Quick Sell helps homeowners avoid deadly debt spiral

Homeowners in financial difficulty should of course do everything they can to hang on to their properties, but sometimes they have no alternative but to sell and start over, and that is when they really need professional help.

“The banks are currently leaning over backwards to reschedule debt and help owners keep their homes,” says Jan Davel, director of the RealNet estate agency group, “but there are many cases in which the total debt burden is just too big for borrowers to manage and their best chance of recovery - and keeping their credit rating intact - is to sell their property and be relieved of the monthly home loan instalment.

“However, they should not make this move without professional advice and proper help, and this is where the Quick Sell Plan recently introduced by FNB Home Loans comes into its own.

“As a nominated real estate partner in this plan, our group has sold millions of rands worth of homes in the past few weeks and helped scores of distressed owners who would otherwise have been facing repossession and such damage to their credit records that they would have had great difficulty ever buying a home again.”

Essentially, the Quick Sell Plan enables homeowners to voluntarily sell their properties quickly through FNB preferred partner agencies such as the RealNet franchises and move forward with their lives without a debt burden that cannot be serviced.

“It is,” says Davel, “a positive and pro-active course of action in which the bank, its customer and a preferred estate agent work together to get the property sold at the best price in the shortest possible time.

“And it is a far, far better option than allowing the property to be repossessed and sold in execution, not least because it enables homeowners to keep their credit records intact and maintain control of their financial destinies. In addition, properties marketed under the Quick Sell Plan fetch better prices than repo properties sold at auction.”

The Quick Sell Plan, he notes, also benefits property buyers. “Those introduced to Quick Sell properties by an FNB partner agent are offered bonds up to 100% and receive a discount of up to 50% on transfer costs and bond registration.”

Article by: www.realnet.co.za