The UK housing situation is considerably frantic at the moment, with reported house prices falling in succession. Is it the perfect time to invest in property and snap up a bargain or should we be selling quickly before prices fall further? This predicament will inevitably reap huge rewards for some, at the expense of others.

Whatever your take on the housing market quandary, buying and selling property online is an exciting alternative to the norm. Traditional estate agents simply cannot compete on price with specialist property websites gaining much more exposure at a fraction of the cost. Additionally many sites online have fixed fees, instead of costly percentage commissions charged by high street agents.

Buying anything online is considered by many as risky, especially second-hand items or items that you have not scene in the flesh. The thought of buying a house online then is therefore ludicrous, however this might have been the case a decade ago, but in 2008 this is a somewhat ignorant and naive attitude. The government is in fact helping reduce properties being sold without the buyers being informed of potentially costly problems, with the introduction of Home Information Packs.

Home Information Packs, known as HIPS, contains important information that buyers and sellers need to know. Properties marketed for sale from 14 December 2007 in England and Wales need a Home Information Pack. The benefit for sellers is primarily security. Providing a Pack upfront should reduce the likelihood of any nasty surprises in the selling process that could delay the sale, as buyers will be able to make more informed decisions about purchasing their home. The benefit for buyers is that the pack provides essential information about properties they are considering buying, free of charge.

Apart from the financial benefit of online property selling, another key benefit is the exposure your property will acquire. Traditional advertising methods involved for sale signs, posters in estate agent windows and listings in magazines, newspapers and publications. This seems very old fashioned and laborious compared to using the latest technology to market a property globally with a click of a button.

Computer wizardry enables buyers to log on anywhere in the world, find the right property for them based on their requirements, find out everything they needed to know about the house and its history, even how much the seller paid for it. The buyer can now even get a feel of the property with multimedia presentations showing it off to its full potential, including floors plans, 3d walkthroughs and even panoramic views inside!

In conclusion no one is sure what is going to happen to the property market in the future, but certainly if you are struggling with mortgage repayments and want a quick sale, the traditional estate agent approach probably wont be the quickest or cheapest option. Think outside the box, why not embrace the wonders of new technology and let the internet do the hard work, or alternatively why not sell your house and rent it back, eliminating costly mortgage repayments and not forcing you to leave your home!