Still trying to sell

Paley71

Don't give up hope, we managed to sell and our house was not in the most desirable location.
It went on the market last May, our fifteenth viewer made an offer in September after we'd gradually dropped the price from 92k to 72k and there were so many problems I was convinced our buyers would pull out....four months later we finally completed.

4Chickens

Hi

Quick update

Viewers on Friday live in Turkey, she is getting homesick and had family near my house. Now they have suddenly decided to give Turkey another go. Red Herring.

Had twe viewings on Saturday:

9.30am second viewing from previous week
10.00am new viewing

The people at the 10.00am viewing are seeing our EA mortgage advisor today.

EA phoned yesterday to update me with this and he sounds quite confident.

So I have twe fishes nibbling at the bate and the EA wedgy is suspended until later today.

4Chickens

OH and I were discussing house selling etc on Saturday night and I threw another option on the table. I suggested we cut and run. Sell the house at £110k and go into rented accomodation for 6 to 12 months. This would leave us sitting on approx £50k after selling and moving costs. We have had a quick look at rentals and we would probably have to pay £600 to £650 per month. Our repayment mortgage is currently £418 per month. I know the maths sould a bit !!!! but we would be protecting our equity and we would still be able to add to it, quite substantially each month. BTW at breakfast this morning my OH said that if we get an offer on the house he will have to turn it down because he doesn't know what to do for the best now (chickchickchickchicken).Sometimes I think you can give a guy too much choice. Just wanted your thoughts seen as how my crystal ball ain't working at the mo.

poppysarah

Write all the options down. Including whether you rent for 12 months - 3 years - whether you lose a job, whether your pay gets cut.
Problem with releaseing the equity and STR is that it cuts you off from any benefits if you have shed loads of cash.

Make a massive chart of all the options.

4Chickens

Just got an offer of £115k. Snatched theirs hands off. Will spend my weekend looking at other peoples lovely clean houses:D

before_hollywood

cindiedunkley wrote: »

Another thought:

Maybe it is the FTB expectations. And what I mean by this is that 12-18 months ago FTB could borrow 95-125% and therefore buy a larger/newer/flashier house. Today, however, the banks are lending diddly squat so FTB can only borrow on average 80% but their aspiration/expectations have not changed. And I am not FTB bashing here. I would actually like to see how FTB feel about the change in the game.

i'm an ftb, offered on somewhere that would mean 80 ltv, estate agent was patronising and made me feel uncomfortable, i have walked away from that today

pawpurrs

Congratulations on your offer! Glad it was one you feel comfortable with, was it their first offer?
And heres to finding a new home!

4Chickens

Yes it is their first offer but we have warned the EA if there is any funny business, we will pull out of the sale. No more housework yeh:j

pawpurrs

So the Ea Escapes a wedgy for now then

besonders1

pawpurrs wrote: »

So the Ea Escapes a wedgy for now then

OMG what a shame was looking forward to that, maybe that scared the EA into doing his job and getting the house sold:beer:LOL!