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It is different this time

Desperate Couple Offer £500 A Month And £2k Cash Back To Potential Buyers

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Sorry if this has already been posted but it deserves another reading anyway

can't sell won't sell

The couple so desperate to sell their house they are offering to PAY someone to buy it

Comments (3) Add to My Stories

A retired couple who are desperate to sell their house are offering potential buyers £500 off their monthly mortgage payments as well as £2,000 cash back.

John and Trisha Hall are planning to emigrate to New Zealand so they can be closer to relatives, but under the terms of their visa they must make the switch by next May.

For the past year Mr Hall and his 60-year-old wife have been struggling to sell their four-bedroom detached cottage in the Nottinghamshire village of Kimberley.

At first, the house was on the market at £360,000 but as the credit crunch has taken hold and the housing market slowed, the number of viewings has fallen dramatically. Now the property is priced at £339,950.

But instead of cutting the price again, Mr Hall has decided to offer potential buyers cash incentives - a tactic more commonly used by developers trying to sell new builds.

These include paying £500 per month towards the buyer's mortgage until January 2010 and handing them a £2,000 lump sum payment on completing the deal to help with their removal and legal costs.

Those were days when incentives were offered by only house builders but now average folks offer incentives to potential buyers as well! can't sell won't sell :lol:

How desperate will they get?

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Sadly this is only going to get worse before reality sinks in for these people, drop...the...price...

On a different note, I have seen ( for the first time since the last crash) a hand scrawled board in my area outside a house that has been up for sale for months and months:

"For Sale - Private sale with owner tel 01*******" :ph34r:

When the owner has to do that to generate any kind of interest..you know its game over, its just stinks of "I'm really desperate".

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500 per month for a couple of years is approx 12K

Wheras a repayment mortgage for that sh1thole will cost 2600 per month.

Any serious purchaser should knock 100K off and start negotiations around the 260K mark.

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  • 395 Brexit, House prices and Summer 2020

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      • down 5% +
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