Things are not looking good for me

SuzySu

Hi all

I think our buyers are pulling out of the sale I spoke to our EA yesterday who said that they are going back to see two properties that they had seen before and which have now dropped below the threshold for stamp duty.

We cannot match that because we would then be in negative equity and we just could not find the extra £10,000.

On top of that, our mortgage company (who obviously knows we are selling) has decided to add our arrears (£3,500) in installments onto our monthly repayment which now means we have to find £2,088 for our mortgage + £450 for the secured loan next month - not a chance!!

I am going to try to ring CCCS this morning. I was due to go to see two properties for rent today but not sure whether I should bother now?

I have also woken up with a sore throat and muzzy head.....sorry guys, just feeling a bit sorry for myself today.

Bunnyinthelights

:grouphug: :grouphug: :grouphug: :grouphug: Oh Suzy,
Nightmare. I don't know what to say sweets.

Can I offer a dodgy hug? Will that make you feel any better??

doodledo_2

(((hugs))) can't offer much advice but wanted to send you some hugs.

Really hope you get some good news soon.

cat4772

Suzy

That's such a pile of pants for you.:grouphug: :grouphug: :grouphug:

I hope the outlook improves and your buyers decide that they really don't like the other two houses.

Cat.x

SuzySu

All dodgy hugs gratefully received - thanks. Just spoke to the CCCS and can't get my 2nd appointment until 1st August. Are they always this difficult to speak to? I suppose there are lots of people in the same position as me.

Might try one of the other charities as I really need some advice soon.

These buyers have been greedy whatsits from the beginning. They were after a house down my road that needed 'doing up' and sold for £14,500 less than they are supposed to be paying for mine, but missed out because they had not sold theirs. They have beaten us down all along the way, but we genuinely can't go any lower.

On a serious note.....can I just walk away from this house. I mean, can I stop paying the mortgage and secured loan and save the money for advance rent and just go and rent somewhere else.

I have a feeling that someone on here did that but I can't remember who...

MYLITTLESISTERLOLA

How much stamp duty are we talking about ?
If it's less than 10k then would it be possible to pay that for them or maybe half of it, I know it's not nice giving money away but given the situation with house prices dropping £100 per day if you loss out on these buyers then goodness knows when the next ones will come along and the house price could be less then, not good news but I believe truthful.
Is there anything else you could throw into the sale, if your renting furnished could you throw in white goods, curtains etc.
On the up side they obviously liked your house better in the first place so maybe they are just making sure
Good luck you've been so helpful to everyone else on this site you deserve a bit of luck
Fingers crossed

Toto

The trouble with doing that suzy is that the mortgage company will sell the place for what they can get. This might be quite a lot lower than what is outstanding. The extra then becomes an unsecured debt which you will have to deal with. It is a really crap situation you are in. I would talk to the mortgage company again and explain your issues, pay them what you can and keep them up to date with whats going on. They don't actually want your house, they might go to court for a repo but if you attend and show the judge you are trying he will most likely suspend the order and arrange a repayment plan for the arrears.

refused

If the buyers have been trying it on from the start, they will be trying it on again, I'm sure, especially if you have made concessions previously.

Just reply with a firm but fair 'No', saying you have already done "this, that and the other"..... if they want your house they will buy it.... if they don't maybe they were just stringing you along all the way......

Hope it all gets sorted:beer:

barnaby-bear

SuzySu wrote: »

All dodgy hugs gratefully received - thanks. Just spoke to the CCCS and can't get my 2nd appointment until 1st August. Are they always this difficult to speak to? I suppose there are lots of people in the same position as me.

Might try one of the other charities as I really need some advice soon.

These buyers have been greedy whatsits from the beginning. They were after a house down my road that needed 'doing up' and sold for £14,500 less than they are supposed to be paying for mine, but missed out because they had not sold theirs. They have beaten us down all along the way, but we genuinely can't go any lower.

On a serious note.....can I just walk away from this house. I mean, can I stop paying the mortgage and secured loan and save the money for advance rent and just go and rent somewhere else.

I have a feeling that someone on here did that but I can't remember who...

You can in the states which is why so many have been doing it and the problems ensuing - here the mortgage company will charge your account with fees for securing the property, mowing the grass, security, maintanence etc it's sold and sell to the best offer they get regardless of how low - adding all the legal costs to your account then they will pursue you for the difference for up to 12 years as with an unsecured loan - adding charges and interest along the way. Mortgage companies do sometimes agree to sales where the mortgage won't be cleared if you take out a personal loan to cover the shortfall especially if they thinkt he market is falling as they'll probably get more back - you may end up owing but less than other scenarios....

SuzySu

Thanks for all your replies. We can't take out loans anywhere (we have already tried but keep being refused).

On top of everything else, my freezer is downstairs busy defrosting its entire contents.

Still, on the bright side, we are all fit and well here and, thinking back to the news we had earlier in the week, there are still blessings to be counted.

peb

Sympathies Suzy - unfortunately I do not have a magic wand.

Please do still look at the rented properties though; however much the sellers are ars ing around they will have already spend a lot on purchasing your property and if they need a mortgage this may be a substantial amount plus the product will expire at some point.

Dodgy hugs being sent your way