Please help

time2_2

Hi all,

I need some help. I have seen a house which is a reposession and is perfect for my future needs. I have put my house up for sale around a month ago and although there is interest there are no signs of any offers.

I am now getting worried about losing this house. Are there any options out there to try and secure this house.

Thanks a lot for your help.

Running_Horse

Use the search button.

http://forums.moneysavingexpert.com/showthread.html?t=1579749

Or follow my links.

But in answer to your question, not much chance of getting it.

Zelie

If you have the money then you could always just buy the second house without selling the first. If you don't have the money then you could see if your mortgage company will allow you to rent out your current home - this would obviously rely upon you somehow obtaining money for a deposit on the second home (and a mortgage).

Alternatively, you could sell your current home. Have you checked other, similar homes for sale in your area and evaluated how these compare to yours? Is your estate agent any good? If the new house is a repo then it's likely much cheaper than it would normally be - so with that in mind can you afford to drop the asking price of your house to make it more attractive and sell more quickly? (Bear in mind that if the new house is a repo you may have to factor in renovation costs).

time2_2

Hi,

Thanks for the advice. My current house is reasonably priced for the area, and it is a very sought after area. Hopefully it will sell soon, but I was interested to see if there were any creative options available.


Many Thanks.

Davesnave

time2 wrote: »

Hi,

Thanks for the advice. My current house is reasonably priced for the area, and it is a very sought after area. Hopefully it will sell soon, but I was interested to see if there were any creative options available.


Many Thanks.

The banks tried some 'creative options,' and now they are being somewhat less imaginative.

All I can suggest is that you market at a generous price, rather than a 'reasonable' one. How much do you want this other place? Enough to take a hit on your present house?