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We lost our buyer just before exchange and we are desperate for money. Help??

13 replies

DontBiteTheBoobThatFeedsYou · 01/07/2019 10:15

DH inherited a house. We rented it out for a year and now we want to sell to buy a bigger place (it's far too small for our family to live in and way too far away from kids schools).

We just had to pay a few thousand for a new boiler and some general repairs.
And we are paying a fortune in council tax for it (no discounts etc).
We have maxed our overdrafts, and now needing to consider yet another loan to cover the council tax and general fees for overdrafts etc.

That was fine because the cash buyer who's offer we accepted (45k less than the asking price because we are desperate and we think it was slightly over valued anyway) 2 months ago was just days away from exchanging.

Now she found out that all the changes she wanted to make she has to get permission from the council and she isn't happy.

She's pulled out.

We are financially panicking. DH was shaking yesterday and I've never seen him like that.
He's talking to the bank about a loan to consolidate debts (we were fine before this!!!) and have excess to pay the extortionate council tax.

It's back on the market for 50k less than it was originally on for.

Is there any way of pushing this through ASAP??

It's bleeding us dry and we also don't want to lose the place we had put an offer on (and paid out for searches etc).

Help!

((We realise we shouldn't have paid for searches yet but we were about to exchange, searches take an age here and we are renting so all the money is being eaten up by that so we need to reduce the time as much as possible)

OP posts:
Soola · 01/07/2019 10:19

No idea about these but if you’re desperate

www.webuyanyhome.com

Soola · 01/07/2019 10:20

Here’s another one

www.sellhousefast.uk

DontBiteTheBoobThatFeedsYou · 01/07/2019 10:50

Thank you I've just filled those and I think they then call me back

OP posts:

Interested in this thread?

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Finfintytint · 01/07/2019 10:55

I know you said it’s very small but could you all temporarily live there until it’s sold?

BarbaraofSevillle · 01/07/2019 11:01

Are you currently renting elsewhere? What sort of price is the house expected to sell for?

You might be better off just putting it in an estate agent for slightly less than the previous sale price rather than using a quick sale company. They don't have a good reputation and are known for giving you a half decent price but then dropping it just before the sale goes through, a bit like 'We Buy Any Car' but for houses. Is there anything unusual about the house that would affect it's saleability?

notapizzaeater · 01/07/2019 11:08

Could you rent it out in the meantime ? Then it would bring something in

DontBiteTheBoobThatFeedsYou · 01/07/2019 13:17

I've just text DH to suggest moving into the property (stuff in storage) to answer our financial woes and he didn't text back (that means it's a no) he didn't answer my call (which means it's a no but he hasn't got a good enough reason why) so I'm feeling a bit pissed of with it now.

OP posts:
AllTheCakes · 01/07/2019 13:22

Have you considered auction? It won’t achieve the best price but could be worth considering for a quick and guaranteed sale.

As soon as the hammer falls, the buyer is obligated to purchase the property (property sold at an auction goes under offer when the hammer strikes), and has to put a 10% deposit down to secure the sale. The sale will then be completed within a month, when the remaining 90% of the funds are transferred.

goodmove.co.uk/blog/selling-your-house-at-auction/

fiorentina · 01/07/2019 13:37

Depending upon the condition and location is it Air BNB able? Or I agree, move into it until it’s sold, to save rent and double costs.

DontBiteTheBoobThatFeedsYou · 01/07/2019 13:50

I've just had a minor argument with DH via text.
He said moving in sounds stressful.
I said not being able to eat is more stressful and I dropped the bombshell that my maternity pay is about to end as well.

He's stressed at work and we're talking about it later.

I think this is our only option right now tbh.
It means we can get the deposit back from this place as well.

I just don't see that we have any other option.

It's not in anyway in Air bnb condition.

It's totally empty to start with.

I think we need to move in.
Thanks for helping me see the obvious answer. Smile

OP posts:
Finfintytint · 01/07/2019 13:58

Good luck OP.

DontCallMeShitley · 01/07/2019 14:02

Wherabouts is it? We are looking to move, although I suspect it is not where we are looking.

SinkGirl · 01/07/2019 14:10

I would get new tenants in, selling can take such a long time, even at a low price. Or auction.

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