For years, people have been saying in news reports that the government should give more financial support to first home buyers to get their leg up in the property ladder.
(PRWEB) September 30, 2014
New data from Your Move and Reeds Rain revealed that 28,300 first home buyer transactions were concluded in August 2014. The rate indicates a 7 per cent hike from last year’s figures, the IBTimes reported on 26 September 2014.
In response to this trend, Rick Otton, a highly respected property coach, says that seller finance strategies could help more people, both first home buyers and property investors, get in to the market through its affordable terms.
“A senior analyst from the Reeds Rain acknowledges the role of first home buyers to maintain the growth of the housing market, but this trend may face some challenges with the continuous rise of house prices in the country. Just last August 2014, the average price that home buyers pay for a house is now at £151,942. This is 3.5 per cent higher than the average price in 2013,” he said.
“For years, people have been saying in news reports that the government should give more financial support to first home buyers to get their leg up in the property ladder. However, government programs can take time. So rather than rely on things beyond your control, it’s always best to focus on solutions that are within your control. And fir for first home buyers who feel priced out of the market, seller finance is a practical alternative due to the flexibility it provides,” Mr. Otton added.
Mr. Otton then said in a recent interview with RickOtton.co.uk that this method of buying houses for sale he discovered in the USA over 20 years ago during the Savings and Loans crisis in the US.
“Seller finance strategies have helped thousands of people, whether they are first home buyers or seasonded property investors because the flexible terms of seller finance allow investors to minimise upfront costs and avoid overcommitting to expensive mortgages. For instance, an investor may negotiate to assume the existing loan and pay the remaining equity in increments. This process is much more efficient than having to apply for a new loan. Moreover, this helps the seller move away from unwanted debt quickly while creating passive income for himself. It is a win-win.” according to Mr. Otton.
Visit http://www.rickotton.co.uk/ today to get more information about seller finance strategies and how these strategies can be applied in changing market conditions.
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.