Unable to sell our house

SEGGA1986

Hi all,
Sorry if all seems long winded but wanted to give you full details of what has happened to us

We currently live in a terrace house and desperately need to up size due to only having 2 bedrooms and have a daughter and a son sharing a bedroom. Last summer we was going through the process of a part exchange with a building company which all fell through with the builders deciding that the original value of our house was unrealistic and that they wouldn't benefit from buying our house, we lost our dream home 3 weeks before we was due to complete. 6 months on and we have had our house on the open market for 13 weeks with an estate agent had lots of viewers but all investors not willing to pay anywhere near the asking price and not any sort of offer we could consider, our house has been refurbished through out and have had plenty of positive comments but due to the area no one is willing to pay what we need. Now the estate agents are trying to push for us to take it to auction but myself and my husband no even if we put a reserve on what we need to meet it will not sell due to previous properties on our street selling at auction for half the price we need to take. We are now at a loss as to what to do as we need to move we only have 5 years left on our mortgage and have all our finances in order to move but it's the selling of the house whats the problem

Any advice would be much appreciated as I'm just feeling so down beat and feel we are just stuck in a corner :huh:

Ms_Chocaholic

Maybe post a link to the Rightmove advert for your home and you may receive some welcome advice.

notanewuser

The house is worth what somebody's prepared to pay for it, which may or may not be what you need to buy somewhere else. Sorry.

SEGGA1986

Thanks great idea http://Cavendish Road, Rotherham, South Yorkshire http://www.rightmove.co.uk/property-for-sale/property-32297157.html

Hope that has worked x

ManuelG

http://www.rightmove.co.uk/property-for-sale/property-32297157.html

Paully232000

Is it on at 59950?

Edit, I see it now thanks

SEGGA1986

Thanks ManuelG I'm rubbish at trying to do links ��

SEGGA1986

Paully232000 wrote: »

Is it on at 59950?

No it's guide price of £45,000 to £50,000

We had a gentleman around 4 weeks ago make us an offer of £44,500 we accepted then he disappeared

silvercar

Why do the estate agents think that auction will attract interest?

How much rental could the property Get? Worth considering renting the house you want and rent this one out?

notanewuser

SEGGA1986 wrote: »

Hi all,
Sorry if all seems long winded but wanted to give you full details of what has happened to us

We currently live in a terrace house and desperately need to up size due to only having 2 bedrooms and have a daughter and a son sharing a bedroom. Last summer we was going through the process of a part exchange with a building company which all fell through with the builders deciding that the original value of our house was unrealistic and that they wouldn't benefit from buying our house, we lost our dream home 3 weeks before we was due to complete. 6 months on and we have had our house on the open market for 13 weeks with an estate agent had lots of viewers but all investors not willing to pay anywhere near the asking price and not any sort of offer we could consider, our house has been refurbished through out and have had plenty of positive comments but due to the area no one is willing to pay what we need. Now the estate agents are trying to push for us to take it to auction but myself and my husband no even if we put a reserve on what we need to meet it will not sell due to previous properties on our street selling at auction for half the price we need to take. We are now at a loss as to what to do as we need to move we only have 5 years left on our mortgage and have all our finances in order to move but it's the selling of the house whats the problem

Any advice would be much appreciated as I'm just feeling so down beat and feel we are just stuck in a corner :huh:

Your agent is marketing the house to INVESTORS. It's the first thing you see when you look at the written details!

Thrugelmir

SEGGA1986 wrote: »

due to previous properties on our street selling at auction for half the price we need to take.

Then that's the reality. No one is going to overpay when there's an abundance of cheaper property on the market.

Keep saving and paying down the mortgage.