i bought a house before selling my old now struggling with bridging loan.how can i sell fast?
need to Sell House Fast market has slumped?(live in uk)
Depends if you are getting viewings..if you are then drop the price….not much else you can do except perhaps rent it on a six monthly basis…at least it would help to pay the bridging loan
Oh if you rent it …don’t be tempted to leave a cooker, washing machine, fridge etc…if they break down you have to replace them..better for you if they bring their own .
Someone has said sell at auction…make sure you put a reserve on it first…don’t think it is a good idea though…it is a buyers market and those attending auctions are looking to pay as little as possible…..most of them are sharks!
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you would have to give it away at auction.why not try renting it
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Sell by auction
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Get an Agent. Contact an Agency.
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Depends if you are getting viewings..if you are then drop the price….not much else you can do except perhaps rent it on a six monthly basis…at least it would help to pay the bridging loan
Oh if you rent it …don’t be tempted to leave a cooker, washing machine, fridge etc…if they break down you have to replace them..better for you if they bring their own .
Someone has said sell at auction…make sure you put a reserve on it first…don’t think it is a good idea though…it is a buyers market and those attending auctions are looking to pay as little as possible…..most of them are sharks!
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I work in a bank and a bridging loan is very expensive plus you have to prove you can pay the bridging loan and the mortgage at the same time, hard enough to pay one mortgage!!
The only way is to look at the companies who buy the house off you at 80% of market value, will lose money but if you really want this new place………..
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Paint, clear clutter, clean, tidy garden, flowers etc. First impressions are v important.
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Guys like me have been waiting for Bliar/Browns economic phalacy to fail. Expect to be shafted, and I’m waiting with a dustpan and brush.
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ouch what a situation to be in, I was VERY nearly in the same boat, so you have my sympathy!! I was desperate for a house that we had seen, and went down the route of auctioning our house to get that house!!! my bottle went though when the auctioneers told me the brutal truth of what we were looking at losing.. erm you may be lucky if you have had the house for some time you are likely not to lose to much, but if you have not long bought it (like us) ouch!!! maybe change your mortgage to the lowest possible repayment (interest only over a mega long period and rent it out?) and look again in say 2years at selling? (i don’t know the ins and outs of buy to let so i am sorry if this is useless!!)
good luck xx
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In this market? drop the price before you drown in your mortgage payments
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Auction is the quickest and best way to stop some cash buying property tycoon taking it off you for peanuts…good luck
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you could consider renting it out there are some agents who will rent out your property for a fixed monthly rental they usually want the property for at least a year but will pay you the same amount even if its empty. You could also consider holiday lets check out some of the travel agents for companies that let out cottage etc they use your property for holiday lettings and they pay very well. hope this may help
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