House Selling - Money Saving Tips

Lainers · 12 February 2013 at 4:29PM

Lainers wrote: »

I have decided to put my flat up for sale aftering putting it off due to the market for years, but its too small and I could end up living here forever. I bought it in Dec 2004 and paid £55k for it, I have kept an eye on house prices and noticed the flats went up to £83.5k during the boom early 2007 but noticed the last 'exact same type' flat sold for £63k 18 months ago.

I owe £65k for my flat as when taking out the loan I opted for an extra loan to cover the deposit and essentials for moving in, not a great idea and I realise this is alot to do with why the market crashed (Usa 110% LTV etc).

I had the surveyor and valuer out on Friday and received the valuation back this morning of £55k, exactly what I paid for it. I must also mention I spent £5k on a full bathroom re-fit.

I replied to the valuer stating my predicament but think my efforts are futile.

Can anyone help?

I used to be a mortgage underwriter 5 years ago and realise where he gets his figure from but he is taking into about the % drop of larger 2 bedroom flats in the area and the flats I live in have never dropped below £65k recently. Doesnt this just mean valuers are pushing down the market??

Any ideas would help.

Also note that there aren't 3 comparibles within the last 2 years to fall back on.

Lainers

Any Other Ideas? Or tips?

kar999 · 15 February 2013 at 6:39PM

Ooops I have inadvertantly posted this in selling rather than buying. could a mod please move it. thanks.

I'm about to do a cash purchase on an old freehold cottage for £95k but would still want searches for peace of mind.

After reading post No. 1 on this thread I've dismissed the cheap and cheerful circa. £300 online firms but Martin's 50 House Buying tricks guide says this about online conveyancers....

Some forumites have had good experiences with the following companies: Easier2move, 1st Property Lawyers and Online Conveyancing. However, nothing is guaranteed - feedback (as with all solicitors) varies, so please do your own research before using.

I've done some research but any up to date experiences would be appreciated. The above 3 are quoting betweeen £600 and £900 and my two previously used local solicitors are quoting being between £900 and £1100 respectively.

Any advice greatly appreciated. Thanks in advance.

EDIT: 1st Property Lawyers seen to sit in the middle @ £756 (with no hidden fees !! etc ?) but I cant find much info on this site when I seach unless I'm missing something.

(second edit) It looks like they are the same company as Prime Property Lawyers so maybe that's why my search didn't' find much.

Having now read this thread about PPL I think I'll give them a miss

https://forums.moneysavingexpert.com/discussion/1849083

The 200 year old property is a terrace so will have right of way issues and the first language of the region is Welsh in a Natioanl Park so I doubt if it will be a simple job!!

Curtis_E · 28 February 2013 at 1:44PM

Thanks Marcus.... :beer:

scarydawn · 6 March 2013 at 9:04PM

hi all

my mum is selling her house and I was wondering if anyone has experience with online conveyancing as the original comments on this were posted a while ago and I wondered if they had improved.

She is only selling and is already in rented property so no onward chain and the property is freehold

thanks in advance

Suzi · 20 March 2013 at 4:50PM

Great advice on here. I have my apartment for sale at present, it has been on for 4 weeks and not one viewing yet.....is this normal nowdays??

sudic2hits · 2 April 2013 at 9:37PM

Thank you for this, it's useful

gregorymorrill · 4 April 2013 at 9:41AM

Thanks for the nice information about saving money in House Selling. The most important part in selling house the both parties agree the contract signing.

iaanhayden · 5 April 2013 at 10:24AM

It is untrue idea to go for the cheapest solicitors, so try to get recommendations from all the land parcel agents you talk to and recall to ask for the name of exact persons, rather than just the lawful companies. Obviously it is best to deal your house when the market is powerful and demand is high, so hold an eye on the localized property market. usually, the market tends to be more powerful in early and late summer than the rest of the year.

MissE001 · 11 April 2013 at 9:18PM

Thanks for the thread...hoping to get my house on the market in the next few months. Think I'll act as a buyer for the next few weeks to see what service I get as suggested by Marcus

Thanks again

Croydon_Croc · 12 April 2013 at 9:14AM

Hello Marcus and thank you for your advice on house selling.
I am pretty green at this business.
We have lived in this house since 1976 and as we are both now retired, are thinking of moving to a place we love and have known since both of us were kids!

Yesterday we had a flier posted through the door by a young man, ie it wasn't sent by post, which makes me a little suspicious. Not sure why..

It advertisers a Company called SALESWIFT.
The flier opens with the words

" We are extremely interested in purchasing your property!"
then continues
" We are Established Cash Buyers. We Guarantee you there will be no time delays and no costs to you Whatsoever. We will pay your legal fees....."
They promises a quick sale quote "Exchange Contracts within 24 hours and complete sale within 7 days " unquote.

Do you know of this company or anyone else like it?
Has anyone out there received such a flier and used Saleswift.
The company heading is shown as " Sale Swift Ltd No 6546030.
It shows telephone number [020 8517 3998] and email: info@saleswift.com
The address is Trojan House, 34 Arcadia Ave London N3 2JU

Could this be legitimate. It all sounds too good to be true.

Kind regards Croydon Croc

House Selling - Money Saving Tips

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