A Change In Circumstance Cause For Property Sales

Many property owners sell their home due to difficulties in meeting their required loan and interest payment commitments. In other cases, properties get sold due to changed personal circumstances such as matrimonial problems, illness, bereavement etc.

Before rushing out and selling a home, the property owner should always carefully examine all the options.

Alternative Solution: If you are experiencing major life changes you could consider selling at a later date.

Pros: Sudden illness, a family bereavement, or marriage breakup is stressful and can trigger a rethink in your financial position. Rather than be rushed in to selling your property, it may be make more sense financially to hold-off selling right now. This is especially true if the real estate market is depressed. A marriage breakup could require you to refinance to pay off your partner’s share of the equity in the property.

Cons: If the market is buoyant and near its peak, a delay may cost you dearly especially if there is a sudden downturn.