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What do we have to do to SELL our Home (PE7 8AT)?
We have been on with 2 agents, its 4 Beds detached street appeal Quality home but no-ones buying locally!
Dropped Our prices to the same level as repossessions (£10,000 less than it cost us in 2003/4 )
Agreed to move out immediately and not get involved in a Chain
Improved it so its the best in the Street
Done Every repair or improvement necessary
Got the best location and Parking in Town
but still people will not buy!
For information We want to move area (over 200 miles away to gain access to medic care not availbale locally) so we have no choice but to sell - waiting another 2 years isnt an option .
we did sell for £275,000 in Aug '07 but chain collapsed due to coming credit crunch, then again in Nov 2008 for £225,000 but buyer couldn't sell theirs.
we are now on at £215,000 (previous repo's went for £220,000) and still no-one wants to comit!
And locally first Time buyers want 1 4 bed house as their first home! as they are around the £200 - 250k mark as houses are so cheap here
Renting it out is NOT an option as landlords in brighton where we need to move to will NOT rent to people who have mortgage elsewhere and have tenants for fear of us losing our tenants then stopping paying their rent. (we tried that a Year ago)
There are NO Local property Auctions (people prefer to pay £70,000 more for a new build ) and as we need to cover our mortgage and costs we would need to set the reserve at £210,000 it cost £225,000 in Dec 2003/Jan 2004. We have tried the 'cash for your home companies who did offer £212,500 then when we said yes dropped ti to £190k without wiewing or valuing place as they like to get it at below auction prices.
Also we cannot auction til we move out but are unable to move out til we have sold as we can't rent until we have a buyer!
We tried ebaY last Year and there is no such thing as property auction on ebay its just a glorified classified ad! and so far not one property has actually been sold by ebay classifieds..
5 Answers
- Sandy MacLv 41 decade agoFavorite Answer
Can you rent it out? ... and then rent where you want to go? Not ideal I know, but the bottom of the market is still stagnant and the banks aren't lending without a substantial deposit. A FTB would need a £60 - £90k deposit to get finance at the moment. If you need to get away this may be your only practical option without further writing-off your major asset or substantial negative equity. Good luck :-)
- Anonymous1 decade ago
a first time buyer is your best bet as everyone else is in the same boat as you, but not many first timers buy a 4 bed detached also getting a mortgage in this economic climate is not easy, best hold on to it if you can til things improve.
- Ozzy DLv 41 decade ago
Good luck!
Find a willing buyer first helps! but I think you might be in for a long wait as not many people are not buying at the moment.Look at the news! more people are losing they're home then buying one!
- Anonymous1 decade ago
Internet auction on EBay?
Source(s): 62 cynical years drinking tea by an Aga in a Castle with an Abacus, an Orrery, an Almanac and a Ginger TomCat. - How do you think about the answers? You can sign in to vote the answer.
