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My selling outcome

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  • My selling outcome

    I posted a couple of 'rather' lengthy posts on here this year, I have been desperate to sell my house due to a relationship break up and as obvious, lack of funds to pay mortgage etc.
    I tried every means of getting my estate agent to help, push and basically sell my house, to no avail, not only were they unco operative, unhelpful, lazy and downright negative, they basically told me ''well you know, the way the market it is etc, you're like everyone else on our books!'' - Bloody great when you are in a bad predicament. By this time my house had been valued at £152k in sept 07, was now decreased to £129k in may09.

    I posted a few posts on here, desperate for help, and yes, got quite a few replies, thankyou for that!

    Still desperate by may 09, having had my house on the market since sept 08 and had no viewers at all, I contacted the 'we buy houses for cash guys' that you see on the telly, and a couple out of the paper, and a few that popped a advert through my door - after being offered approx £79k - £90k for my house that was mortgage valued at £125k-£135k only in feb 09 I decided no chance - and took my chances at auction. I am absolutely aware that house valuations change, I am aware that there is a huge difference between estate agent appraisal valuations and mortgage valuations, and I am/was aware that 35k+ in a offer drop was not good business sense for myself.

    Only a wierd thing happened- and again only due to writing a few posts on here!

    I was approached totally by chance from ITV and they interviewed me at length and televised my home and the auction day for the Tonight with Trevor Mcdonald show, lol, which was well, interesting! I can only say I guess - thanks to the forum for my strange experience, as the two days of filming were a change and certainly sort of took my mind of worrying about the house temporarily!

    Anyhow, my house went to auction, it was on telly on 18th may and sold for 95k, not a staggering price, not even an ok price, but it sold, and I can now move on, I hand over the keys next thursday, and the house I had put an offer in on, in a neighbouring town will be mine the day after - so although I feel abit 'done', I feel this sale has been a complete and utter nightmare, it's over, and my kids and I have survived it, the money is a shame, it was hard earned and I do feel abit let down by events, but there was and is a light at the end of the tunnel, and with abit of courage and a huge gamble the end is now very much in sight, thankgod!

    Auction was a horrid experience, I wouldn't wish it on anyone, but it's a means to a end, and at the end of the day if you can barely afford to take that chance financially speaking, it was worth a shot, I had nothing to lose personally.

    What I do say is this though - do read all auction small print - if you don't you will have to pay your insertion fee evenif it doesn't sell, and the fee can be about £700, it ain't a cheap gamble. I actually got my auction to put it in writing to me personally that I wouldn't pay if no sale - had to negoiate lol for this, as they always charge. Don't expect a miracle, go with an open mind, do only expect to possibly reach your reserve and anything after that would count as a bonus, and do take tissues if you go to watch it!

    Thanks to the forum for help, advice, replies etc that I got over a few months worth of posting, thankfully the end is near for me now, and I have learnt a hell of a lot in the process - I knew the basics etc prior to this sale, i have moved house 8 times, I should know, but I haven't ever tried to sell in desperate circumstances during a recession. I guess I do blame the recession on my house sale problem, why not, if houses were selling, if people could get mortgages easier, if jobs were secure, if there were buyers out there, first time buyers wern't bloody scared to death to buy, I would/could have sold for a better price, but this is life, and you have to take the rough with the smooth. In hind sight, I would have changed my agent first off, as they were terrible, and I would print their name here if I thought i wouldn't be liable lol, but other than my agent, I can't think of anything else I could have done.

    Good luck to anyone selling. I wish you well, and hope you have the financial able to hang in on there till the housing market picks up


  • #2
    Surprised the cash offers for the house were so low - did you try MPG? If so, what did they quote? Would be interesting to know.

    Anyway, not a great price on the house, but at least you have sold and can move on.