Additional costs of buying a house, like real estate taxes, soar sky high in the U.K. making it more difficult for buyers to buy a property for sale. But there is still a way for Britons to pay for these costs.
(PRWEB) November 17, 2013
“Additional costs of buying a house, like real estate taxes, soar sky high in the U.K. making it more difficult for buyers to buy a property for sale. But there is still a way for Britons to pay for these costs if they follow creative strategies when buying houses,” said Rick Otton, an authority in using creative strategies for property transactions.
Policy Exchange released a study exposing that existing rates of council tax bills, stamp duty, inheritance tax, and capital gains tax in the United Kingdom are more than twice the average rate of property taxes in other developed countries, (Property Wire reported on 9 November 2013).
“Real estate taxes balloon the cost of buying houses, but many home buyers are unprepared to pay for it when they go out to find houses for sale making the process of buying houses even more difficult,” according to a new interview with Mr. Otton for his Power Property Profits Pack.
“On the other hand, those who are prepared to pay for these additional costs take the risk that once they saved up enough cash, tax rates have gone up again,” he added.
“Since bringing down tax rates in the U.K. would be a long hard battle to achieve, one easy solution for home buyers out there is to negotiate the terms of payment with the seller, rather than find a property with a cheap price. It’s in the terms that make it easier for the buyer to pay for what needs to be paid,” Mr. Otton recommended.
He discussed that negotiating the payment terms of a deal simply means arranging: the period when the buyer will make payments and how much upfront cash and monthly payments he’ll have to make.
“Negotiating with the seller to bring the price of the house down will not help it become more affordable to many people, since there is a big chance that they don’t have the out of pocket money needed to pay for a regular deposit. So rather than focusing on the price, it’s best to focus on the terms,” Mr. Otton shared.
Discover more creative property strategies from Rick Otton’s Power Property Profits Pack. You can visit http://www.rickotton.co.uk/ now to sign up for a free copy of the compilation.
About Rick Otton
Rick Otton is a property investment professional who, over the last 23 years, has introduced innovative real estate strategies to the UK, Australian and the United States. His creative ‘low-risk, high-reward’ approach to buying and selling houses is exemplified in his own business, We Buy Houses.
This year marks the 10 year anniversary of Mr. Otton introducing his strategies to the UK, and the 5 year anniversary of his innovative ‘Buy A House For A Pound’ process – one that attempted to be emulated by others. His constant process of strategy refinement, and adapting to the ever-changing real estate market, continues to place him at the forefront of property investment education.
In 2012 Rick Otton published his Australian book ‘How To Buy A House For A Dollar’ which was named in the list of Top 10 Most Popular Finance Titles for 2013. A UK version is on the drawing board for publication in 2014.
Mr Otton freely shares insights into his non-bank-loan strategies that have allowed everyday UK men and women to beat the rental cycle and have their own homes. He coaches others on how to build profitable businesses by facilitating transactions that focus on the needs of potential buyers and motivated sellers.
Access his free downloadable Power Property Profits Pack at RickOtton.co.uk, as are the details of early bird pricing for his next UK 3-day real estate training conference in March 2014. Phone enquiries in the UK are welcome on 0207 000 1027.