Here’s the bare bones:
I’ve seen a house I love, and it’s up for auction on July 21st with an auction house.
It’s a G2 listed house with some land.
It was previously on with A normal agent and an offer was accepted at £500k but it didn’t complete as the buyer’s solicitor wasn’t happy with a building certificate related to the underpinning. The old agent revealed that they believe the reserve to be £500k.
It is owned by MAG (Manchester Airport Group) who bought it as a compulsory purchase as a part of the A development, which never happened. They sold a lot of their portfolio but kept some with land, and this has been rented since.
My position:
I bought my husband out of my house as a part of our divorce and I now have a mortgage of £195k. My house is very saleable, on a popular estate and worth about £700 on a good day, £670 on a bad one. (Based on 3 local agents)
It was recently valued at £631 for the purposes of the remortgage as that was the figure I’d agreed with my husband some time ago.
I can put my hand on about £20k cash and everything else is in pension and in this house.
I earn £40k, PAYE.
And I really want to buy this house! How can I make it happen?
I had thought I might ask the seller to accept an offer prior to auction but if it’s ordinary auction terms then that doesn’t help me - I need more time, as it’s a cash flow issue.
I’m willing to pay a bit more for it and would go to £520 which I don’t think they’ll get at auction. The guide price is £475.
The house is uniquely unattractive to other buyers - it’s hard up against the motorway the plot is a Scheduled Ancient Monument, and the majority of the land at the back has no vehicular access at all. You can get a mower or a horse in and that’s it. And the house is a (properly underpinned) wreck. I however, love it and it would suit me perfectly.
im talking to some “we buy any house” sites and they’re talking about 75-90% of market value and could complete within a few weeks.
How should I proceed? Is this even possible?