What does BMV mean?
BMV stands for Below Market Value. If you buy a BMV property you usually pay less than if it was to be sold on the open market. A true BMV deal means you have bought a house which is considerably below market value, sometimes up to 60% off the market value and therefore able to make a profit.
Who sells a BMV property?
Many people need to sell their house fast for cash for various reasons, especially in this current economic climate. Selling houses on the open market could take up to a year and be very costly and time consuming, which results in many people selling their house to a housing investor who can buy their house quickly for a reasonable amount of cash, without charging extortionate fees. Some property investment companies allow you to sell and rent back the property once they have bought your property which solves many people’s problematic situation.
Why do people sell their house for less than the market value?
Many people choose to sell their house below the market value price because they are emigrating or relocating for a new job, inheritance they don’t need or they simply need to sell their house quickly for cash in an efficient manner without being charged extortionate fees.