Cant sell my house and desperate to move...

nattyb1982

not with our rubbish credit unfortunately! we are also reducing our mortgage so you would have thought that would have helped but no, 20% is all we can get :-(

nakiwala123

Im sure you can get a mortgage at 15% deposit. Not ideal but from what you are saying I gather a compromise has to be made. You most likely will need to drop the price to get buyers interested. Good luck.

nakiwala123

aaah idiophreak beat me to it!

Good luck anyway.

Dave_Ham

If you are capped at 80% then you are on Precise/GE Money et al.

I would be exploring the opportunity of getting a 15% or 10% mortgage - they are out there and this may be the leverage you need.

I personally think the house looks nice, whether it represents a fair price I cannot judge.

I know I would be making whatever sacrifices I needed to in order to try and put my family back together. I acknowledge that a wedding should be a once in a lifetime affair, but given all of this would you have been better off banking the money and hosting somewhere locally...

Hopefully you will get a credible buyer soon.

DannyboyMidlands

nattyb1982 wrote: »

hi, what im saying is that the bar minimum we can drop to is £195k, that leaves us with a 20% deposit to put towards a new mortgage (thats the lowest % they will let us buy with) this equates to £150k to spend on a house, i can find houses for that price now but i still cant sell mine at that price in order to do it as no one wants to buy!
to have the woodworm and repointing done it will cost £7k and we have no money in savings to pay for this so we took the £7k off the house instead.

None of that has any bearing on what yours is actually worth.

The last sale on your street was 5 doors down. Admitedly smaller and less pretty but it went for £75k. There are several nearby on quieter roads advertised for around £175k.

Spamfree_2

rightmove
all with 7 miles of Whitley Bay

all 3 bed houses
http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^1010&insId=2&maxPrice=120000&minBedrooms=3&displayPropertyType=houses&oldDisplayPropertyType=houses&radius=5.0

Dunroamin

You can buy 2 bed flats in Whitley Bay for less than £100K; surely that's better than living apart?

(And yes, I know you have dogs but many of these have gardens.)

littlesparkles

I understand how you are feeling but it is just the way the market is just now. I bought a flat in 2006 just before the height of the market in 2007. Other flats in the block were bought in 2007 for at 15 to 20k more than what we paid in 2006. We spent a lot on doing it up (new kitchen and bathroom and electrics for starters) but are now selling it for 1k less than we paid. So we have 'lost' quite a bit but accepting the lower offer means that we are buying a bigger house and getting to move on with our lives. I personally would lower the price and move on. Even if it means buying a cheaper house in the North East or renting there.

anonymouse619

I do understand it's a horrible position to be in, but as you've said there really is nothing you can do about the other factors preventing a sale. So I really do think it's a case of you either drop the price to one that will make it sell now, or you wait.

How much finance is left on your furniture?
Could you go back to the people that offered £195 inc. furniture with a counter offer. EG - including X, X and X but not X or X for £197,000. At the end of the day it's only furniture and you could survive without a spare bed and with 1 sofa until you're in a position to buy more.

Crazy_Diamond

I would have thought that a big part of what is putting people off is the uncertainty of the future Tesco development across the road - everyone imagines the worst case scenario and they may be worried about the construction phase as well as the actual shop. That coupled with the busy road and pub next door will have a major bearing on the price.

Have you considered renting the house out until after Tesco is built? I would have thought that it would be easier to sell after the site is redeveloped and the nearer you get to the date of the bypass being completed the more positive the impact on the house price. I don't suppose renters will be too bothered about the redevelopment.

I would also remove listings with two of the agents as it does look very desperate. The presentation of the house seems fine though.