House sale dilemma….

[milanbenes]

'Yep, both mortgages in place.

Going for a last week of trying to get an offer - failing that, going to exchange in the next week or two, then, delay completion until I get a nice 6 month letting all sorted.
'



I love the optimism :-)

You go Wilmsloooooooooooooooooooooooow



Milan.

[Bluebird]

I'm doing the same, rent out current property and make a few pennies but just enough to tide over.

Have bought new house and managed to knock builders down from 370k to 306k [ am waiting to point of exchange when I'll also demand carpets etc ].

[Xenophon]

Going for a last week of trying to get an offer - failing that, going to exchange in the next week or two, then, delay completion until I get a nice 6 month letting all sorted.

[BlasterBates]

Desperately trying to flog my old house – was a realistic £230K, now come down to £205K. Still no interest.

Plan B is to keep and rent and flog in either 2, 5 or 10 years, depending how the market goes.

Considering price crashing down to £190K for a week and hoping.

What is likely to be best? Ie, are prices likely to continue to plummet over the coming years, in which case get shot now, or, just hope I can get a tenant who can cope with Italian Mafia neighours??

You do realise it's cheaper to rent a bigger pad than buy one that's tanking 10% a year. It'll cost 30 grand a year, plus your interest payments. For half that amount you could rent a stately home with an indoor swimming pool and hire a butler, a couple of maids, and then buy something when the market's at rock bottom.

[ASB]

Going for a last week of trying to get an offer - failing that, going to exchange in the next week or two, then, delay completion until I get a nice 6 month letting all sorted.

That'll be a bloody interesting contract you are signing. Completion when the purchaser feels like it might just raise the vendors solicitors eyebrows.

[Xenophon]

That'll be a bloody interesting contract you are signing. Completion when the purchaser feels like it might just raise the vendors solicitors eyebrows.

WHS

[Bob Dalek]

During the time this Thread has been in existence, your house devalued by another £3K!

[Alf W]

You'll have to do something about those horrible multi coloured tiles in the kitchen before you can rent it out.

[Wilmslow]

Well, had a comical phone call from the estate agents who are ‘trying’ to sell my house…..

I made it clear I want it sold before I get the funds for the re-mortgage, or I will be renting.

The branch manager told me about a new ‘gifted deposit scheme’ and wants me to see the cheesy Lorenzo FC to sign up for this scheme. They are therefore not taking my price down by another £5K as I asked, until I call into the office to discuss this new wacky scheme. Last month the phone call was about their summer sale…… Yes, they really are that mad…..

So… Looks like I will be renting the place out after all. I understand I pay tax just on the ‘profit’ and can reclaim tax from any household expenditure. Hmm… wonder if that includes mileage for researching 10 different carpets in shops 100 miles apart? I can but dream on that one I guess…….

Thankfully the estate agents I am buying through are a lot more chilled – both mortgage offers have come through, and I am seeing my solicitor on Friday for t he report on title malarkey – just a case of the remortgage going through, so I can then exchange, and sit tight for as long as is needed before renting mine out. So, coming together, although I would really want that somebody to buy my place miracle to happen. Plan B – hope it is always rented, and hope to goodness that after 5 years I will be able to flog on without losing equity.

Time to reduce my pension plan payments for the next couple of years I think….

[Bob Dalek]

Well, had a comical phone call from the estate agents who are ‘trying’ to sell my house…..

I made it clear I want it sold before I get the funds for the re-mortgage, or I will be renting.

The branch manager told me about a new ‘gifted deposit scheme’ and wants me to see the cheesy Lorenzo FC to sign up for this scheme. They are therefore not taking my price down by another £5K as I asked, until I call into the office to discuss this new wacky scheme. Last month the phone call was about their summer sale…… Yes, they really are that mad…..

So… Looks like I will be renting the place out after all. I understand I pay tax just on the ‘profit’ and can reclaim tax from any household expenditure. Hmm… wonder if that includes mileage for researching 10 different carpets in shops 100 miles apart? I can but dream on that one I guess…….

Thankfully the estate agents I am buying through are a lot more chilled – both mortgage offers have come through, and I am seeing my solicitor on Friday for t he report on title malarkey – just a case of the remortgage going through, so I can then exchange, and sit tight for as long as is needed before renting mine out. So, coming together, although I would really want that somebody to buy my place miracle to happen. Plan B – hope it is always rented, and hope to goodness that after 5 years I will be able to flog on without losing equity.

Time to reduce my pension plan payments for the next couple of years I think….

Try Hatched. Everyone in my neck of the woods seems to* - and they seem to sell pretty quickly. Couldn't be that estate agents actually f--k up viewings, could it? The agent who guided me around the house I now live in was, frankly, nobbut a lad and quite poo at his job.

* I exaggerate.. a bit.