# Sale Achieved For House but well below the asking price



## Wishes (19 Nov 2012)

Hi guys,

I have been offered a sale on my home which is in dire negativity equity.

The purchaser is a cash buyer.  All sounds wonderful apart from the fact that the offer is 200k short of my mortgage deficit.

The EA tells me I am not going to get a better offer.

Any ideas how I can persuade the bank to accept the offer?


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## orka (19 Nov 2012)

What is the amount outstanding at the moment (ie is 200K big relative to the debt)? Are you on a tracker?  Have you been paying at least interest only or are you in arrears?


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## greengrass (20 Nov 2012)

unless you have savings, this is going to be a hard one.


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## Wishes (22 Nov 2012)

Nope, no savings.  All money was invested in property.


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## Jayjay80 (13 Dec 2012)

i just sold the other day for €120k and paid €275k. Mortgage was €250+ and in huge arrears


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## bugler (13 Dec 2012)

Jayjay80 said:


> i just sold the other day for €120k and paid €275k. Mortgage was €250+ and in huge arrears



Would you mind telling us your bank, and how they approached the process of selling while in serious NE?


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## Brendan Burgess (13 Dec 2012)

Jayjay80 said:


> i just sold the other day for €120k and paid €275k. Mortgage was €250+ and in huge arrears



Hi JayJay

This is really interesting.  It could be of great interest to others in a similar position. 

Any chance you could update your previous case study? 

http://www.askaboutmoney.com/showthread.php?t=146068

I see you approached New Beginnings and MABS. Even a summary of your experience with them would be very useful.

Brendan


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## ClubMan (14 Dec 2012)

Wishes said:


> Nope, no savings.  All money was invested in property.


Do you still have other property investments?


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## Wishes (14 Dec 2012)

Hi Clubman,

One property in the UK.  The property is fully performing with a small profit each month.  I would then allocate the profit against my mortgage payment here, along with what was left of my wages from both jobs.


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