They want how much????!!!

Sanshing

Last week we sent our offer to the OR for the BI on our home and had their response today rejecting our offer. They want offers over 93% of the BI.:eek:

Of course, we cannot afford that much, being br and having no savings to speak of!!

Can anyone tell me, is that it? Will they negotiate at all below the 93% or should we be considering our alternative options?

sizzler

Did you include estate agents fee and for solicitor if the OR had to sell house when sums where done.

I would need figures to advise. if you do not want to put on forum PM me sizzzler:)

dojoman

How much equity in the house do you have/

Sanshing

Yes, we tried using the fees and costs associated to get their request down initially and they said they are not going to take that into account. It seems they would rather keep the house on the books for the next two years in case the market improves!! The equity is £8k and they want £7.5k.

DON79

Hi, did both parties on the mortgage go bankrupt? if not, they should only be asking for 50% of the available equity. Sorry I can't add much to help out except to say I am sorry they are being so inflexible with you. Have you any family who could help out at all?

Hope that something comes up to help you out soon and best wishes.

curly04

I didn't have this problem as my house was in neg equity

Why not call there bluff - tell them you dont have the money so you are going to see about putting the house on the market!

In that way they might only get a few grand??

Worth a try

I think life is like a game of poker, you might not have been dealt a good hand but you can bluff you way through

debtinfo

But the OR will have to ok any sale

immoral_angeluk

curly04 wrote: »

I didn't have this problem as my house was in neg equity

Why not call there bluff - tell them you dont have the money so you are going to see about putting the house on the market!

In that way they might only get a few grand??

Worth a try

I think life is like a game of poker, you might not have been dealt a good hand but you can bluff you way through

If they have gone bankrupt already then the house is not theirs to sell really. It would be down to the OR.

Sanshing

Agreed, we cannot sell without their permission.

Spoke to them today and they will put the file on hold for two years and then if we can still not afford it will put a charge on the house. They seem to have no intention of selling, in other words.

They seem quite adamant about the amount they want so will have to just do the rounds, cap in hand to the extended family. Not what we wanted to do, but seems to be the way we have to go.

out_of_cash

let the OR incurr all the legal fees costs associated with the house ,i wouldnt spend a penny helping them out, i think the bi thing is a real sick wind up for bankrupts its like dangling a huge carrott in front of you.

i thought the or had 3 yrs to deal with house situ and if not it auto reverts back to you

well looks like charging order people will be busy bees in their offices over the next few yrs.

debtinfo

out_of_cash wrote: »

let the OR incurr all the legal fees costs associated with the house ,i wouldnt spend a penny helping them out, i think the bi thing is a real sick wind up for bankrupts its like dangling a huge carrott in front of you.

i thought the or had 3 yrs to deal with house situ and if not it auto reverts back to you

well looks like charging order people will be busy bees in their offices over the next few yrs.

not really, its more like something in a shop window with a price sticker on it, you can either afford it or not. there may be a bit of leeway, but if you were selling something and someone offered yo half the price, i dont think you would agree