Desperate to sell house

jeanie49

HI, any advice needed. We cannot afford to live in house and have had it up for sale and dropped price several times. Houses do not sell quickly in our area and there are a lot for sale. We are probably going to be repossessed as have not paid mortgage and are in arrears, so am desperate to sell Any ideas what we can do??? Should we approach quick buying company? Is auction a waste of time?

Paully232000

if you put a link up on here I am sure you will get some ideas as to why it may not be selling.

jeanie49

We have dropped price dramatically and it is realistically price, if not a bargain. But houses are not selling here. We are running out of time and I would be grateful for any ideas how to sell house- i.e. auction, or a quick house buying company etc. Id rather leave within the next few months rather than be forced with repossession.

moneyistooshorttomention

I'm sure other people can confirm - but I recall reading various instances on this sub-forum re people commenting that these quick housebuying companies have a tendency to reduce the price you thought you had agreed at the last minute if my memory serves me rightly on that.

If I were that desperate - I'd probably go for an auction personally, as you can set a reserve price there and will thereby keep some measure of control.

Paully232000

You have had good advice in the past, what did you do based on that advice, or any other advice you have had since Feb 2013 when it went on the market.

I am assuming it is the same property.

rosie383

You will get more money dropping the price to a realistic one for a quick sale, than going with a 'quick sale company'. Or auction as has already been suggested. If it hasn't sold in more than two years, despite being in a situation where you couldn't keep up with payments for it, why leave it this long?


And why would you think you will get different advice now than last year, as Paully says?
I hope no one bullies you this time, but I think you need to be prepared for some firm words.

makeyourdaddyproud

rosie383 wrote: »

You will get more money dropping the price to a realistic one for a quick sale, than going with a 'quick sale company'. Or auction as has already been suggested. If it hasn't sold in more than two years, despite being in a situation where you couldn't keep up with payments for it, why leave it this long?

Many factors, many factors:

• She pointed out the presence of other sellers in her area so there's competition.
• What is the area like?
• Crime statistics
• Demographics of the postcode area (are most residents retired, unemployed, low earners etc)

Lowering the price again may not be feasible. If there's no equity then then the OP will have a debt but no house when sold ergo no difference to being repo'd.

RAS

https://forums.moneysavingexpert.com/discussion/4764152

Previous advice; what have you done to change the house since last summer?

fairy_lights

Oh dear OP, you were given a lot of good advice in your last post about this, didn't you act on it?

Money_maker

RAS wrote: »

https://forums.moneysavingexpert.com/discussion/4764152

Previous advice; what have you done to change the house since last summer?

Not last summer, it was from 2013:eek:

paulsad

Seems like after all this time you maybe should approach a quick sale company and ask them ... you don't need to commit ... doesn't sound like you've too many options. Maybe I shouldn't say that but surely they can't all be scammers; of course they'll offer well below what its worth; but if that's enough to get you out of the mire then maybe its the only way if you haven't the time to go to auction. You really do need to do something though.