Am I in trouble?????

ILW

Fleeced wrote: »

Hi


The house is valued at 200,000 but is willing to accept the 118,000 so that he can get rid of mortgage and all memory of the sorry business. The house is beautiful and people are interested but no one can get a mortgage.

Thanks again

Valued at 200k willing to accept 118k and cannot find a buyer!
I ithink there is more going on here than the OP is letting on

PasturesNew

ILW wrote: »

Valued at 200k willing to accept 118k and cannot find a buyer!
I ithink there is more going on here than the OP is letting on

Probably it's on the market at £200k and not marketed as £120k/must sell.

Fleeced

Hi

I take it the OP is me.

What possible reason would I have to conceal anything. It is not in my best interest to even consider doing so.
The house is in a rural location so is not suited to everyone.
Like I said before people are interested but are unable to secure a mortgage.
Maybe this is the concealed info you are after, sorry its nothing more sinister.
Hubby tried something which didn't pan out and we are trying to sort it out.
That all there is to it.
Thanks for the auction listings, found an other auction at the end of Jan so will be trying our luck there.

All the best

Trollfever

With the benefit of an independant RICS valuation of £200k, I will exchange and complete next week at £120k.

Squish_21

Maybe you could offer to help someone with the deposit (e.g put 5% towards it, adding this onto the amount they buy the house fot) which might help them get a mortgage.

WillowCat

Well give us a hint as to where it might be.......you never know someone on here might be interested! (I'm househunting myself, and I'm sure I'm not the only one)

:beer:

ILW

Is 200k valuation from a proper valuer or is it from an Estate Agent who also happens to be th seller?

hearts

Rent it out

Gorgeous_George

silvercar wrote: »

Houses will sell if the price is right.

Normally, that is true.

When lenders aren't lending and when buyers are being told to expect further falls there is little chance that you will find the price that is right for you and a buyer.

Either drop the price by £5K per month until it sells or reaches your bottom line. Then, stick it in an auction or let it to a family member or a friend.

GG

RobertoMoir

Fleeced wrote: »

Hi

I take it the OP is me.

What possible reason would I have to conceal anything. It is not in my best interest to even consider doing so.
The house is in a rural location so is not suited to everyone.
Like I said before people are interested but are unable to secure a mortgage.
Maybe this is the concealed info you are after, sorry its nothing more sinister.
Hubby tried something which didn't pan out and we are trying to sort it out.
That all there is to it.
Thanks for the auction listings, found an other auction at the end of Jan so will be trying our luck there.

All the best

I don't think anyone is accusing you of a dark conspiracy to take over the world via forum postings or anything.

It's simply a case that the numbers don't make a lot of sense. Even in this depressed market, a house worth £200k ought to shift at under £120k. Question that springs to mind for me: are those numbers realistic? Could that be why people can't get a mortgage for the property, for example?

I can tell you that a watch I purchased for £2,500 from a jeweller is worth £5,000 if I want. I might even have it insured for that amount because of rarity or sentimental value. I can then offer to sell it for £2,800 and tell you that's a bargain given the big drop from my £5k price. But that doesn't mean it's worth £2.8k to a buyer even if I sincerely feel it's worth that much to me. And the buyer is trying to solve their problem, not my problem.