Apartment to sell - Negative Equity and Quick

shrimpboy

Hello experts, I'm hoping somebody out there may have some advice. I currently own a 1 bed apartment which has been on th emarket since March this year with only 2 viewings. I have already dropped the price by £5k but still nothing much.

I'm resigned to the fact that I will not get enough for it to cover what I owe but quite frankly I just want to go. It used to be such a nice place to live but as owners have moved out and bad tenants have moved in it has becomse such a horrible place.

Anyway, for the sakes of my sanity I need to sell ASAP and so was considering these companies that will buy your place. I understand you dont get full value with these companies, but was wondering if anybody had used one they could recommend that pays a half decent amount?

Or any other advice? I am also looking at renting it out via the council but renting out is a last resport as I just want rid of it.

Any ideas anyone?

Many thanks,

Shrimpboy

marliepanda

From seeing stories on here most of the quick buy companies offer you 90%, but then drop it to 70% (or less...) days before exchange.

So if you do go down this route you will have a LARGE amount to pay to the bank to make sure that you are even with them. Some may not be willing to turn it into a unsecured loan.

brit1234

Get an estate gent to price it right and below the competition for a quick sale. You re better going at a slight loss than one of these home buy companies, which will give you even less.

Notmyrealname

Remember that if you are selling at below the outstanding mortgage that you need permission from your lender to sell.