Hi gresgow.

In these unique circumstances I think your trustee will be flexible about the method of sale.

Presumably you'll want to maximise the sale price given that much of it will come to you?

Just want the whole process over and done with as quickly as possible to allow me to start afresh and put the whole sorry episode behind me. Would be prepared to accept lower sale price for that reason.

Also want to conclude as soon as possible as personal circumstances may change in the near future.

OK - so best to discuss sale process and methods with your trustee at the start of next week then.

The trustee has an obligation to achieve the maximum prices as mentioned by TDA, so normal process would be to instruct an estate agent to market the property. The only real difference from a normal house sale would the that the trustee signs the disposition to conclude the sale.

The only reason(s) they would use one of the quick sale people would be if there were sufficient funds in the offer to clear the debts in full, plus interest, costs etc or if the property had been marketed for sufficient time with no interest or offers.

Mark

Thanks for the replies

Mark that must have been some night out and the presence of mind to log in to the forum on your return. Respect.

I registered my details with one of the sell your house quickly companies and had phone call from a representative who is going to come to the house on Monday to have a look.

I will call my trustee on Monday before this and find out if it is possible for me to do this.

Hi Gresgow

No, just in a different time zone, although probably equally as sad!

The forum is my antidote from joining Facebook!!!

Mark

Hi gresgow,

Your best to speak with your Trustee about the sale of the property and come to an arrangement of who will deal with this and how it will be sold.

The likelihood is the Trustee will probably want to control this and have their own solicitor deal with the conveyance.

Like Mark has advised under normal circumstances the Trustee needs to maximise the sale price to return as much as possible to the creditors. In your circumstances there may be a bit of flexibility if there is sufficient equity to quickly sell the property and clear off the Trust Deed.

Let us know how you get on.

Had a meeting with the guy from the quick sale company and also spoken to my Relationship Manager who in turn has spoken with my Trustee.

My Trustee has confirmed that they would have no objection to me selling my house through this company and clear the TD.

The quick sale company (sorry don't want to mention company name and can't think of anything else) have phoned back and given me a definite offer which is significantly lower than the market value.

I knew this would be the case and before the meeting I had a figure in mind that I would be prepared to accept. The offer was lower than this but I am still tempted to accept the offer.

I have a lot of thinking to do but as my employment situation has not yet been clarified I am struggling to make a definite decision.

Hi gresgow.

Given you'll get to keep much of the surplus, wouldn't a more conventional sale process make sense (financially at least)?

Hi TDA

Yes financially a conventional sale would be the better option.

Unfortunately there are other private issues that have made me go down this route and there is also a time issue. This company seemed keen for me to use their estate agency service but have also advised that if I go for the quick sale option it could be settled in 4 to 8 weeks.

I have never bought or sold property before and would just like to sell up, settle TD and move into rented accommodation.

This may sound crazy to most people on here but I am very tempted.

Hi Gresgow

A conventional sale would probably be better for you in the long run, as you would make more money.

Advertise the house for a fixed price (i.e. the one you had in your mind) and when sold, ask that it be concluded asap. My house sale was done within 6 weeks start to finish.