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Selling at a lost
Scamps20721
Posts: 1 Newbie
Hi, Due to personal reason I need to sell my home, turns out we be at a lost between 5-7k!!! will we still be able to sell it.. what will happen as I believe that we will have to pay the different.. could this be turn into a loan??? any help will be appreciated
Thanks
Thanks
0
Comments
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It all has to be agreed beforehand with the bank. Depends on the amount as well. Technically they are releasing their security and you could do a runner. I know of someone recently who wanted to sell at a lost with Barclays and they had a special form to fill in with details - eg agreed sale price, tick the box to say you will be responsible for the shortfall etc etc.0
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