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incentives used to get a sale..?
lindos90
Posts: 3,211
Forumite
Im just woundering whats possible, given the current conditions, Ive seen in the past that vendors agree to pay the stamp duty, 5% towards deposit etc..
We recently viewed two houses with no chain involved, one owned by a landlord, who wanted to sell one of his rental properties, and one repossessed house, they are both four bed detached, in the same area.
In the first case, the landlord met us, and showed us round, we explained we were just about to put our house on the market. He asked us where abouts we lived, and proposed that if we were serious about his house, he would consider a part exchange, initially it sounded suspicious, but then I wondered if it was a really good idea.
We would be in a very small chain, we would get a bigger place for the family, without estate agent fees etc, and he would get a smaller, and perhaps more saleable house.
In the end we decided it was not the right house, as it had a very small garden, not suitable for three kids!...
But, the other house, has been repossessed, needs work, has been on the market for months, and has a bigger garden. It has been reduced a couple of times already, the estate agent suggested we offer 'significantly less than the current asking price' but would have to move fast with selling ours, which in the current times is impossible.
This may seem a really silly question, but are there any circumstances where a bank would consider a part exchange, (similar to that proposed by the landlord of the other house) for a repossessed house?
I understand they would still have a house to sell, but they would have a more saleable house, in a much better condition than the one they are trying to sell at the moment.
Any thoughts? any other creative/lateral thinking suggestions?
We recently viewed two houses with no chain involved, one owned by a landlord, who wanted to sell one of his rental properties, and one repossessed house, they are both four bed detached, in the same area.
In the first case, the landlord met us, and showed us round, we explained we were just about to put our house on the market. He asked us where abouts we lived, and proposed that if we were serious about his house, he would consider a part exchange, initially it sounded suspicious, but then I wondered if it was a really good idea.
We would be in a very small chain, we would get a bigger place for the family, without estate agent fees etc, and he would get a smaller, and perhaps more saleable house.
In the end we decided it was not the right house, as it had a very small garden, not suitable for three kids!...
But, the other house, has been repossessed, needs work, has been on the market for months, and has a bigger garden. It has been reduced a couple of times already, the estate agent suggested we offer 'significantly less than the current asking price' but would have to move fast with selling ours, which in the current times is impossible.
This may seem a really silly question, but are there any circumstances where a bank would consider a part exchange, (similar to that proposed by the landlord of the other house) for a repossessed house?
I understand they would still have a house to sell, but they would have a more saleable house, in a much better condition than the one they are trying to sell at the moment.
Any thoughts? any other creative/lateral thinking suggestions?
0
Comments
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No, they'd not do an exchange.
The best way to sell any house is to reduce the price so it appears to be the best value for money at the price.0
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