The answer to selling property quick

MPG Investments is one of the most trusted property investment companies in the UK. Thanks to our extensive financial resources and years of experience as investment-focused property buyers, you can rest assured that you’re selling property quick to a company you can rely on. There are no hidden fees, commission payments or charges. Just cash in your account in 7 days!

Don’t let your haste to sell property quick land you in hot water. Here are some of the scams to watch out for:

1. Equity Skimming

   You make a deal and you move out of your house. The buyer then rents the house out to a third party, pockets the rent and doesn’t make any payments on the mortgage. Ultimately, the house is lost to foreclosure.

   How to prevent equity skimming:
   • Don’t move out unless you receive quite a considerable amount of money up front – for instance a couple of months’ rent.
   • Don’t move out until the money needed to bring the mortgage payments up to date is in the hands of a reliable third party.
   
   
2. Predatory lending

   This is when someone gives you a loan at a very high interest rate, or a very short time to pay it back. In most cases it is virtually impossible to repay the loan in time, so the lender eventually forecloses and takes the house.

   How to prevent predatory lending:
   • Make sure you read the whole loan agreement carefully (including the fine print), and that you understand everything that’s being said. If something is unclear, ask someone you trust to explain it to you.
   • Know exactly what your payments will be, how soon you have to pay the balance back, if there are any prepayment penalties, and what happens if you miss a payment.
   
   
3. Paying for a quick fix

   Unfortunately, there is no easy way to pay someone to fix your situation. Alarm bells should be going off in your head whenever someone offers a ‘quick fix’ that involves paying them money up front. Any money spent on looking for a cheaper way out is probably a waste, and realistically you could’ve used that money for payments and fees due on your mortgage.

   How to protect yourself
   • Before handing money over to anyone, do your homework and make sure you know what you’re getting into. Remember: If it sounds too good to be true, it probably is.
   
   
4. Bait-and-switch

   In a bait-and-switch scam, con artists actually manage to trick a homeowner into signing over the deed to a home – without the homeowner’s knowledge. This can be done by bombarding confused homeowners with complicated legal documents to sign. In order to “help” the victim, the scammer places the documents on a clipboard with Post-It notes or something similar indicating where to sign. The overwhelmed homeowners end up just signing where they’re told to, and unknowing to them, end up signing the deed to their home away.

   How to prevent bait-and-switch
   • Don’t sign any document that has blank spaces where information or amounts can be added later without your knowledge.
   • Don’t ever sign a contract under pressure. Take your time and go over the paperwork carefully – preferably with someone who has your interests at heart.
   • Don’t settle for a verbal agreement – get all promises in writing and make copies.

MPG - The solution to selling property quick

MPG Investments is a cash property buyer, reputed throughout the UK for our experience, no-nonsense approach to buying property and excellent track record.