We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Mother died, cannot sell house - costing over £700 a month
Comments
-
This is the auction company that my relative used, it was also on display for sale at the estate agents, so maybe they took a commission too. It is a scary option to take, but it seemed to work.
Founded in 2009, iamsold is the UK’s largest residential auctioneer and leading online auction platform.
https://www.iamsold.co.uk/
0 -
So if you think £100k will sell instantly but it's throwing money away, how about £50k or £30k?
Ultimately there is no right or wrong answer and it's striking the balance between quick sale and maximised monies. Only you can decide where that balance is.
On the energy can you not switch to simply paying the bill rather than the fixed DD? I know some suppliers put barriers around that option but it does exist with most (if not all)
Auctions are simply a gamble but there is the reserve to stop it selling for silly low money, make sure you understand the fees though! Again, depends how desperate you are to sell.0 -
I agree. But if there are no viewings then it is overpriced.
When I sold my first house, I listed it for £160k - I have viewings but no offers. I reduced it down to £155k and had 2 offers… £5k difference meant we went from viewings only to offers.
Agreed. But there are a lot of numbers between 0 and 100,000.
Knock £20k off and see where you are. You might get no offers or you might get 2-3 and that becomes a bit of a bidding war. Either way, you will know within a week or 2 if you are in the right ball park or not and then you know whether to review it.
If you are getting no viewings, it is over priced without any shadow of a doubt. If you are getting viewings but no offers, then the agents should be working those viewings to try and get offers even if they are "cheeky offers". Someone might feel bad offering you £400k so instead do not make an offer. But the agent should be trying to get them to make that offer. It is better to have an offer to decline than no offer at all.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
A 2007 property should be easy to value on an estate, if it hasn't had major works done to it since the last sale.
Look at comparisons of sold prices on rightmove or zoopla house prices tab
https://www.zoopla.co.uk/house-prices/uk/ .
Another option would be to speak to the lender. You could always hand the keys back and let them sell it. They will charge, but at the end of the day, they have an obligation to get the best price. It may be that they keep the emotions out of it and put it on at a realistic price for a quick sale. Though 'a realistic price for a quick sale' is what you should be asking estate agents.
I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Off topic slightly but if she had a mortgage on the property was there no life insurance in place?
0 -
Quite normal not to have life insurance to cover the mortgage given the typical age of those taking out a RIO product, especially with a single occupant.
The expected method of repayment is sale of the property.
@wibbler - I assume you have probate granted and you are acting as executor to sell the property from within the estate?
1 -
You could get a (RICS) Level 2 home survey approx £500-1000 then you would be able to advertise at correct price and choose a buyer that is in a position to buy. I am in same position and have had 2 failed sales so far and nearly a year in its been very stressful. Also you would not have any late price reductions because of roof or whatever as they will price accordingly including all works that need to be done.
21k savings no debt1 -
Don't forget to look at low standing charge deals but they may be fixed term with a charge for ending early.
Thrifty Till 50 Then Spend Till the End
You can please some of the people some of the time, all of the people some of the time, some of the people all of the time but you can never please all of the people all of the time0 -
The surveyor is not buying the house though.
As much as their pricing might be objective and fully justified, purchasers have their own agenda.
Your life is too short to be unhappy 5 days a week in exchange for 2 days of freedom!
One can always make more money. No one who has ever lived can create more time.2 -
Most of those have a lower limit for use which an unoccupied house is not likely to reach…
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards