my mum passed away in april and my dad passed away in october. i am dealing with the estate. before dad died he received mums death in service payment and he cashed in his critical illness. he kindly gave me and my brother a lump sum and there is about 30k in his bank account. i am going through probate at the moment.
Dad was beyond shit with money and his house is mortgaged up to its value on an interest only mortgage. before dad died he put the house on the market hoping to sell it and move near me so i could look after him. he got an offer at full asking price but died as it was going through. understandably the buyers pulled out as they did not want to wait for probate. i kept it on the market but the mortgage company have agreed to let me voluntary surrender with no further liability, IE they will swallow the deficit if they sell it for less than the mortgage. they have aslo told me that the voluntary surrender would not go against me as i am not the borrower. i would simply be doing it on my dads behalf.
the estate agent Dad was dealing with has left the company and dads sale is being dealt with by a new employee. the new guy is driving me mad. he is calling me every week telling me i should drop the price by 10k ( its on for 80k and i have already dropped it 5k). he is telling me that the market is really good but just my dads isnt selling. he is also telling me i have no chance of surrendering with out any further liability.
i called the mortgage company this morning who have reassured me they will take it back with out any further liability. i asked them about dropping the price for a private sale ( they are happy to swallow the difference within reason) and they agree with me that the estate agent just wants a quick sale to get the commission.
it is all driving me mad. has anyone handed a house back in these circumstance. i am close to telling the estate agent to take the forsale sign down. i cant be arsed with them constantly pestering me to drop the price
You might like to look at the Agents website to see if it is being actively marketed, or get a friend to call in and say "I'm looking for a (terraced 3-bed, or whatever) house at about (£x), what have you got?
It is sometimes said that some agents act in collusion with friendly developers to put the best bargains their way.
i think you may be right about the estate agents. i would just tell them to take it off the market but i would be back to square one if the mortgage company wont take it back with out any further cost to me