Topic: 5 Years and counting….

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This topic contains 1 reply, has 2 voices, and was last updated by Richard Watters Richard Watters 3 years, 9 months ago.

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  • #2047

    mike1mike
    Participant

    Hello,

    I wonder if anyone could offer any advice on options I have available to lose my house once and for all…
    I bought my house during the ‘boom’ of 2009 on a 110% mortgage (yes, really) – after 12 months I moved out and out up for sale. Now in the fifth year I have dropped the price to £70k and, with my mortgage being £82k my estate agents advice of ‘Have you thought about dropping the price’ is no longer an option!
    I am desperate and wondered if anyone had gone down the route of Auction? I have only heard bad things about the quick sale companies and the rumours of the council being interested in properties may have been a dream?

    Any advice would be greatly appreciated!

    • This topic was modified 3 years, 9 months ago by  mike1mike.
    #2049
    Richard Watters
    Richard Watters
    Moderator

    Mike

    There are potentially a number of options open to you. Which ones depend on the current value of the property. But there are always some ways.

    Even if you have no/negative equity there are ways of structuring deals that enable you to move on, using Option Agreements or Deferred Completion. All completely above board and legal!

    Or if the house needs “help” to sell, a managed sale where the property’s value is enhanced and then sold at a higher price could work.

    Auctions can work but generally achieved prices are lower than you’ll get via an Estate Agent and there’s no guarantee it will sell.

    I run a national quick sale company and an Estate Agency myself and whilst I don’t want this reply to sound like a sales pitch, there are almost certainly options open to you.

    If you can email me the number and postcode of your house and your name and telephone number we’ll get in touch. No pressure or obligation, that’s a promise . richard.watters@housesellingadvice.com

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