Comments on: The sale of my house has fallen through,should i put my house to auction now? http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/ Sell your house fast with Sell House Fast Sun, 27 May 2012 00:31:34 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Cari http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/comment-page-1/#comment-315 Cari Fri, 08 May 2009 04:00:05 +0000 http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/#comment-315 Yes, I would. It's true that auctions usually fetch lower prices but if you need to sell desperately, at least you know that it's done and dusted. Otherwise what's the alternative? Nothing is shifting in the current market so it's likely that you'd have to take a bridging loan in the interim, and the associated costs here may end up being more than what you'd be losing out on the sale price. Anyway, you can of course put a reserve price on the house so if that is not met, then you don't sell. Yes, I would. It’s true that auctions usually fetch lower prices but if you need to sell desperately, at least you know that it’s done and dusted. Otherwise what’s the alternative? Nothing is shifting in the current market so it’s likely that you’d have to take a bridging loan in the interim, and the associated costs here may end up being more than what you’d be losing out on the sale price.

Anyway, you can of course put a reserve price on the house so if that is not met, then you don’t sell.

]]> By: Ruffletop http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/comment-page-1/#comment-314 Ruffletop Thu, 07 May 2009 04:30:46 +0000 http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/#comment-314 Always sell by private treaty to obtain the best price. Buyers are the ones to benefit from the low prices that auctions realise. Be brave, advertise 'for a quick sale the vendor will pay the stamp duty on the asking price'. Still be prepared to pay the stamp duty if you get a lower offer BUT be firm, it must be a marginally lower offer only; 1% perhaps at most! And the best of luck. Be brave. Fortune favours the brave. Always sell by private treaty to obtain the best price. Buyers are the ones to benefit from the low prices that auctions realise. Be brave, advertise ‘for a quick sale the vendor will pay the stamp duty on the asking price’. Still be prepared to pay the stamp duty if you get a lower offer BUT be firm, it must be a marginally lower offer only; 1% perhaps at most!
And the best of luck. Be brave. Fortune favours the brave.

]]> By: luludoodie http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/comment-page-1/#comment-313 luludoodie Mon, 04 May 2009 02:18:58 +0000 http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/#comment-313 The problem is you will only get a low price at an auction. That is why people go to auctions! Assume you will get 20-25% less than your asking price! Can't you defer/cancel the new house? How much would you lose if you did, would it be more or less than the the loss you will make on the auction? As an alternative can you rent out the "old" house? - How much is your mortgage, - Assume you will have to pay a letting agent 15% - Would rent be more than 120% of mortgage - if not forget it! - You may not be able to get a "buy to let" mortgage unless your mortgage is a very low percentage (say under 40%) of potential selling price. If your equity is only 20% you won't get a mortgage. - Last resort - bank of Mum & Dad?????? The problem is you will only get a low price at an auction. That is why people go to auctions! Assume you will get 20-25% less than your asking price!

Can’t you defer/cancel the new house? How much would you lose if you did, would it be more or less than the the loss you will make on the auction?

As an alternative can you rent out the “old” house?
- How much is your mortgage,
- Assume you will have to pay a letting agent 15%
- Would rent be more than 120% of mortgage - if not forget it!
- You may not be able to get a “buy to let” mortgage unless your
mortgage is a very low percentage (say under 40%) of potential
selling price. If your equity is only 20% you won’t get a mortgage.
- Last resort - bank of Mum & Dad??????

]]> By: D R http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/comment-page-1/#comment-312 D R Sat, 02 May 2009 20:22:32 +0000 http://www.sellhousefaster.co.uk/house-sale/the-sale-of-my-house-has-fallen-throughshould-i-put-my-house-to-auction-now/#comment-312 you may be lucky i think that you can put a minimum asking price on the sale if it does not reach that price you do not sale but i do not now if you would have to pay the auctioneer if it is sold they take a commission out of the sale good luck you may be lucky i think that you can put a minimum asking price on the sale if it does not reach that price you do not sale but i do not now if you would have to pay the auctioneer if it is sold they take a commission out of the sale good luck

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