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Debate House Prices
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Hoping for House Price Crash- Take Note
andybenw
Posts: 212 Forumite
From Another thread.
Hi
Following a relationship breakdown, my jointly owned property has been on the market for 6 months with no interest. I had one viewer in June, and then another last week.
The viewer from last week has now submitted a verbal offer, but it is for £6,000 less than my mortgage. I have rejected this, but would suspect I will not be able to get her up much more than another £3,000.
In this situation, would I be able to sell for less than the mortgage amount and then repay the balance to my mortgage provider over the next few months, or would I have to clear the mortgage completely before they would allow clear title?
I should point out that I have a separation agreement in place that allows me to agree to a reasonable offer without my ex's agreement, so it is down to me
If it all does go downhill you'd better hope you buy at the bottom else you could be in the same boat.
The likes of the above happening across the country large scale is not palatable to any sane person(Stand fast then, HPC websites Bruce Banner and his ilk). That is why a sensible approach is being applied to interest rates to engineer a slow deflation of prices.
Hi
Following a relationship breakdown, my jointly owned property has been on the market for 6 months with no interest. I had one viewer in June, and then another last week.
The viewer from last week has now submitted a verbal offer, but it is for £6,000 less than my mortgage. I have rejected this, but would suspect I will not be able to get her up much more than another £3,000.
In this situation, would I be able to sell for less than the mortgage amount and then repay the balance to my mortgage provider over the next few months, or would I have to clear the mortgage completely before they would allow clear title?
I should point out that I have a separation agreement in place that allows me to agree to a reasonable offer without my ex's agreement, so it is down to me
If it all does go downhill you'd better hope you buy at the bottom else you could be in the same boat.
The likes of the above happening across the country large scale is not palatable to any sane person(Stand fast then, HPC websites Bruce Banner and his ilk). That is why a sensible approach is being applied to interest rates to engineer a slow deflation of prices.
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Comments
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I don't understand the point of this thread. Please explain.0
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What area is the property?0
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On Doctors, the daytime TV soap, one of the Doctors had his house on the market. The buyer came back and asked for £30K off and he agreed, then pushed it to £50K and he refused.
It looks like the crash is coming.
"There's no such thing as Macra. Macra do not exist."
"I could play all day in my Green Cathedral".
"The Centuries that divide me shall be undone."
"A dream? Really, Doctor. You'll be consulting the entrails of a sheep next. "0 -
I think Spartacus is right, the crash is defo coming....a neighbour in my street only made 18k profit when she sold last month.0
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Sorry, what am I taking notes on?0
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A house in our street sold last week for £950,000 - they have only made a profit of £600,000 in 14 years.
It would have been a profit of £700,000 in 2007.
This is a sure fire sign that a BIG CRASH is on its way!!
HA HA HA HA HA !!!!!!!!!!!!!!
I wonder how that renter, who rented the very same house 14 years ago, is doing?Bringing Happiness where there is Gloom!0 -
A house in our street sold last week for £950,000 - they have only made a profit of £600,000 in 14 years.
It would have been a profit of £700,000 in 2007.
This is a sure fire sign that a BIG CRASH is on its way!!
HA HA HA HA HA !!!!!!!!!!!!!!
I wonder how that renter, who rented the very same house 14 years ago, is doing?
Anecdotal evidence does not count.:)
All that money, yachts, aston martins, top of the range wife and you sit on the internet all day long talking 5hite.
If that is what its like to be rich i would rather have nowt:)0 -
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