Lets list those categories that HAVE to sell, ie, those that set the market price.

John_Pierpoint

Kez100 wrote: »

Probate sales where there is tax to pay, especially.

Second homes bought for holidays and where owner's income has fallen making it unaffordable. However, as they are furnished many may choose FHL route instead.

Growing family I disagree with. They don't have to sell as they can share rooms. Moves are aspirational. Only likely to feel motivated if deal both ends works out (i.e big discount on new property). They won't be forced to accept a low offer if they don't want to.

Probate personal representatives have probate plus 6 months council tax holiday.
More to the point they can substitute the real sale price for the probate valuation for 3 years after death. Could be well worth the exercise, even if someone in the family is going to live in the home as Darling might be chipping in 40p in the pound of the drop in value since the death.

Jorgan_2

Really2 wrote: »

He as but not because they are in NE and can afford the mortgage.

A voluntary repo is a last resort for someone who is going to loose it any way usualy.

Curious, how does he know so much about their financial situation?

StevieJ

Conrad wrote: »

Of course why didn't I think of that cunning plan to wrest control of the market single handedly with these little ole post of mine:cool:

Any links to substantiate your comment below yet?

Many lenders now want a '30 day valuation', that is to say, the valuation to be pitched at the level the property would sell at within 30 days of hitting the market.

Conrad

StevieJ wrote: »

Any links to substantiate your comment below yet?

Many lenders now want a '30 day valuation', that is to say, the valuation to be pitched at the level the property would sell at within 30 days of hitting the market.

none what so ever

Really2

Jorgan wrote: »

Curious, how does he know so much about their financial situation?

:rotfl:
[/quote]

Jorgan wrote: »

I am dealing with a number of voluntary repo's at present, the only reason I know they are voluntary is because I have met the previous owners when they have given the keys back. Sometimes they even tell you the reason they are handing the keys back, not all have mew'ed their equity away.
[Really2, ask your family member if he/she has any repo's that they do not have to attend, the keys just get dropped off by someone, owner/locksmith, quite often these are voluntary rather than enforced repo's

Do you read your own post's Conrad, Sorry Jorgan.;)

SingleSue

kennyboy66 wrote: »

Its a huge move to sell what has been the family home, these people are not generally highly motivated to sell until the prospect of illness or infirmity.

Add to that kids who may have gone to university and then return home for a couple of years while they save / pay down debts.

My parents have had thoughts about downsizing (and because dad is registered disabled) to a bungalow...thing is they have had thoughts about doing it for the last ten years!

They hold back because of the restriction on space and because we all tend to come back at some time or another even for just one night...oh and because at least with a big house, when we all go around with the grandchildren, they have plenty more rooms to escape to :rotfl:

Jorgan_2

Really2 wrote: »

:rotfl:

Do you read your own post's Conrad, Sorry Jorgan.;)[/quote]

Yes I read my own posts. You said your family member doesn't see any of these type of repo's, he also doesn't attend every repo he he deals with, so how can he know for sure what the financial position of the home owner is?

Really2

Jorgan wrote: »

Yes I read my own posts. You said your family member doesn't see any of these type of repo's, he also doesn't attend every repo he he deals with, so how can he know for sure what the financial position of the home owner is?

Yes but the ones he does have the keys back on are due to financial reasons the rest are usualy bank repos.

Do you belive there of thousands of people giving back houses because they are going into NE but can afford the mortgage.
This is the UK they are still liable for the debt.

Jorgan_2

Really2 wrote: »

Yes but the ones he does have the keys back on are due to financial reasons the rest are usualy bank repos.

Do you belive there of thousands of people giving back houses because they are going into NE but can afford the mortgage.
This is the UK they are still liable for the debt.

No I do not believe there are thousands of people, who can afford the mortgage, giving back houses because of NE. I never said there was. I said I had dealt with a few cases where that has happened. I deal with the sale of repo's on a regular basis and I am fully aware that they would be liable for any shortfall after the property was sold on.

I sold one repo earlier this year were the woman had given up work to look after an elderly relative, they struggled to live on the husbands salary, but were not in arrears with the mortgage. They decided they had had enough of struggling each month & handed the keys back. I didn't understand why they did it then & I still don't, I don't believe they sought any advice on their situation. Their case is one of the reasons I now have the CAB & Shelters numbers on me when I do valuations.

treliac

besonders1 wrote: »

It might be true if it was brothers and sisters sharing a room together then no problem but if it was mixed gender obviously then that could force an upgrade to a 3 bed house.

I know it's not correct, above a certain age, but years ago there was often no choice and maybe half a dozen siblings would have shared, as the norm then.

There's no law to force upgrading in order to avoid mixed gender sharing. Would housing authorities help families who can't afford to buy the extra space needed, I wonder?