Desperate sellers open their doors to trial buyers

Desperate sellers open their doors to trial buyers




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Would you buy a pair of shoes without trying them on? Would you buy a car without taking it for a test drive?... probably not.

Well, according to some, we shouldn’t be buying property without trying it either. We are now in a 'buyers market', and desperate sellers are giving way to a growing number of home buyers who believe that they should have the right to trial their new home before making the purchase.

The team at tryitbuyitproperty.com also believe that potential buyers should be allowed to spend time in their future home before agreeing to buy it.

In October of last year they launched an online portal to facilitate this novel idea.

Denise Bennett, Operations Manager of TryitBuyitProperty.com, said: “The idea for the site came from David Riley MD, who was shocked at the number of properties on the market that sit empty.”

“We started developing the idea around two years ago and now have approximately 4000 properties listed on the site, both in the UK and overseas.”

Lancashire property entrepreneur David Riley and his team intended the site to be aimed specifically at homeowners unable to sell their property and purchasers unable to secure a mortgage.

When users visit the site, they can browse through the various properties, which offer trial rental periods from three days to 12 months or negotiable terms.

After a property is selected the potential buyer can then contact the seller directly in order to organise rental payments and other arrangements.

Properties currently featured range from one and two bed homes and caravans priced from £400 per month to executive properties at £1750 per month.

Ms Bennett explained that in most cases the rental charge would be returned if the temporary tenant decided to buy the house.

After coming across the website, MP Grant Shapps, Minister for Housing and Local Government, expressed the department’s support in welcoming private sector housing solutions which address the current housing challenges.

Ms Bennett concluded: “The portal has proved very popular and is doing really well so far. As we move forward we will be focusing our efforts on developing the UK portion of our business”

The new property portal lists ‘rent to buy’ properties in the UK and overseas from individuals, as well as estate agents and developers. Properties can be registered on the site for a one-off-fee of £99 and registration is free to potential buyers.

By Katie-Jill Rowland

 

 

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