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Am I wasting my time here?
mrs.d_6
Posts: 5 Forumite
Hi, Our house is up for sale at the moment, but from it going up for sale last november until now, we have had one viewing.
I know the market is bad right now but thought we would have got a few more viewings than one. We put the house up for sale 20k lower than it is worth because we need to move asap and thought if we put it up lower than it is worth then we might get more viewings, its not working out that way obviously. Basically its worth 139k, we have it up for 120k.
As I say, we need to move asap, so we have been looking at those companies that buy your house fast for cash.
On two of the websites we found they said they would offer 90 per cent of what it is worth.
They both called me today with their offer.
One of them said they would give us 60k, and the other, believe it or not, said they would give us 40k.
We are still waiting to hear back from others, but if their offers are anything like the ones we have had I think I am wasting my time as we still owe 79k on the mortgage.
Am I wasting my time with these companies? Are there any out there that do actually offer 90 per cent? Have any of you guys used one of these companies?
Also, unrelated question: to put the house up for sale via auction does the mortgage need to be cleared?
I know the market is bad right now but thought we would have got a few more viewings than one. We put the house up for sale 20k lower than it is worth because we need to move asap and thought if we put it up lower than it is worth then we might get more viewings, its not working out that way obviously. Basically its worth 139k, we have it up for 120k.
As I say, we need to move asap, so we have been looking at those companies that buy your house fast for cash.
On two of the websites we found they said they would offer 90 per cent of what it is worth.
They both called me today with their offer.
One of them said they would give us 60k, and the other, believe it or not, said they would give us 40k.
We are still waiting to hear back from others, but if their offers are anything like the ones we have had I think I am wasting my time as we still owe 79k on the mortgage.
Am I wasting my time with these companies? Are there any out there that do actually offer 90 per cent? Have any of you guys used one of these companies?
Also, unrelated question: to put the house up for sale via auction does the mortgage need to be cleared?
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Comments
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wow, they are cheeky offers..!
At the end of the day, you wont be able to sell it to someone like that without taking the hit, as they need to make their profits...it could be that it is just slowness in the market, did you get three valuations done by estate agents, and did they recommend £120K.0 -
helencbradshaw wrote: »wow, they are cheeky offers..!
At the end of the day, you wont be able to sell it to someone like that without taking the hit, as they need to make their profits...it could be that it is just slowness in the market, did you get three valuations done by estate agents, and did they recommend £120K.
Yes, we got three valuations done, the house is worth 139k, so we put it up lower so we could get a quick sale, or so we thought lol..0 -
It's probably time to change your estate agent to a better one.0
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if you want, you could post a link, are you comfortable with the way they are marketing it?0
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A house is only 'worth' what it will sell for - where did you get the figure of 139k - is this based on the sold price of similar properties in the local area?
The standard criticism of the 'quick buy' companies are that just before the contract is signed, they downvalue the property again and demand a big discount from an already low price.
have you considered auctioning it?0 -
Yes up to now I believe they have done everything they said they would do, its on all the websites they said it would be, they have brochures done etc, everything was done in the time they said it would be done etc
Im guessing we should have had a lot more viewings??0 -
the value the agent puts on a house isn't its worth but simply a guide, and probably an overinflated guide at that. The avergae of three valuations gives an idea but that doesn't mean that's its value. Its worth is what someone is willing to pay, and if there has been one viewing since November then it may be that the price, even at that level, is not sufficiently attractive. It may be below similar houses' asking prices but who knows what they are selling for. Alternatively, there could be something putting off viewers, maybe:
-poor pictures,
-lack of effort from agent,
-not on rightmove
are some ideas.
0 -
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A house is only 'worth' what it will sell for - where did you get the figure of 139k - is this based on the sold price of similar properties in the local area?
The standard criticism of the 'quick buy' companies are that just before the contract is signed, they downvalue the property again and demand a big discount from an already low price.
have you considered auctioning it?
Well, we got it valued by three different agents and they all came back with pretty much the same price, 2 of them said 139k and the other said 138k. Plus the houses on our street have gone for that price as well.
Yes have looked into auction but it said on the websites we looked at that the morgage must be cleared, ours isnt so I guess we cant put it up at auction.:(0 -
We were in the same situation 20 + years ago, we needed to move, but no-one was buying, so we part exchanged house, we lost a little bit of money, but not the huge amount you would if you went with those two low offers. Are there any new homes for sale by known builders, as they might offer a similar scheme in the area you need to move to?0
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