To those selling in these difficult times Part Deux. AKA sellers support network!

djheath

ocalllo wrote: »

SEE - that is what this site is for :rotfl:
we all need a good moan sometimes when we get fed up trying to sell.

I hope things work out for you, have you considered renting out the place? with such a large deposit you could probably get your mortgage and possibly keep the flat?? just an idea.

I've thought about it, but around here even with the sizable deposit that we have, it still doesn't get you much. A two/three bed terrace in my area is £280 to £300K plus, so all the money we have is valuable. Plus we will need to get furniture for a house, plus any renovations and then the GF is talking about marriage!! :eek: So, it quickly spirals!! We're both very cautious with money too and dont want to stretch ourselves. I would like to keep the mortgage amount roughly what I have now. We are looking in the local area, but also a bit further a field to try and get somewhere for around £220 to £250K, with £300K being our maximum only if an amazing dream house comes along!

There's a lot of what if's and who knows at the minute!

Good luck to everyone else with their sales!

NEH

monkeys_bunny wrote: »

we have decided to rent it out, to someone we know, so not so bad, they need to come round and make sure its what they want first and settle details etc. hope we are doing the right thing

We're with you on that one, we're going to rent out, we're just having to find a moment to get the electric check done and a new storage heater put in, which is not so easy when you live miles away....At least it's someone you know, though make sure you keep things professional with them as you don't want to fall out over this...

Whereabouts in Surrey are you thinking Djheath...?

snowlady07

I'm thinking about renting mine out too. I know my house has only been on the market for 3 weeks but the signs aren't good, absolutely nothing is selling in my area at the moment. My mortgage only costs me £225 and the house would rent for about £450 a month. No problem with consent to let either.

My OH has just put his house on the market and already had a (non-proceedable) offer so it looks like his will sell before mine. We've worked out if we lower our budget slightly we can still buy a new place together even without selling mine.

My dilemma is should I just give up on the selling option for the time being and get it rented out now so I stop having to pay mortgage and bills for a house I'm not living in, and make a profit at the same time too? Or should I stick at trying to sell for a bit longer as you never know, I might get lucky?? I would prefer to sell as really want rid of the house now.

I don't fancy trying to sell it with a tenant in it, I imagine that would be nigh impossible in the current market!

Decisions, decisions!!

Blodwen

monkeys_bunny wrote: »

no, taking it off the market, was thinking of doing it anyway, but these people always wanted to buy it but cannot get mortgage as self employed etc so there is a chance they will rent it for a couple of years and then hopefully buy it. we shall see what happens when they come round to talk about it

Sounds fairly promising then, and most importantly it will help to pay the mortgage!

Grimbal

djheath wrote: »

I've thought about it, but around here even with the sizable deposit that we have, it still doesn't get you much. A two/three bed terrace in my area is £280 to £300K plus, so all the money we have is valuable. Plus we will need to get furniture for a house, plus any renovations and then the GF is talking about marriage!! :eek:

erm, should I mention what (normally) comes after the house and marriage?!

AFM: we had a viewing yesterday evening that resulted in a phone call first thing to our EAs asking for a 2nd viewing on Saturday! Fingers crossed..

azkaban420

MB hugs, I've done the same too. Have pulled out of my sale as I cannot wait for the buyers any longer. Have also taken it off the market and am going to look at the renting side. Even though our equity is low, my mortgage broker is confident we can work something out with current lender, so will see.

In a sense I'm quite relieved to be off the selling wagon, as it's been too much headache/heartache. Hopefully, will be able to get back on it at some point.

Good luck to everyone and thanks for the support. Will continue to lurk and offer tuppence where I can

Az

Squish_21

Quite a few are going down the renting out route then.

Im not sure it would cover the mortgage on my flat, maybe just but I asume there are other costs involved with renting out? Landlord insurance?

NEH

Grimbal wrote: »

erm, should I mention what (normally) comes after the house and marriage?!

Not everyone wants kids or can't have children, better not to assume

azkaban420 wrote: »

MB hugs, I've done the same too. Have pulled out of my sale as I cannot wait for the buyers any longer. Have also taken it off the market and am going to look at the renting side. Even though our equity is low, my mortgage broker is confident we can work something out with current lender, so will see.

In a sense I'm quite relieved to be off the selling wagon, as it's been too much headache/heartache. Hopefully, will be able to get back on it at some point.

Good luck to everyone and thanks for the support. Will continue to lurk and offer tuppence where I can

Az

Oh Az, i had hoped that it would eventually go through but i can understand totally about not holding on, you need your life back...

Squish_21 wrote: »

Quite a few are going down the renting out route then.

Im not sure it would cover the mortgage on my flat, maybe just but I asume there are other costs involved with renting out? Landlord insurance?

You need to check with your mortgage provider whether you can get permission to let. Ours will but there is an admin fee of approx £200 this is fairly standard. You will also need a electric check and a gas check if you have gas....Our landlord insurance we may go for was through direct line was about £10 a month or less for a studio flat...

We also in Scotland have to pay for landlord regsitration as well but i can't remember whether England has something similar it's been a few years since i lived there....

Can't think of the other costs off the top of my head but there is a sticky somewhere i think or a thread if you do a search...

Grimbal

NEH wrote: »

Not everyone wants kids or can't have children, better not to assume

it was a light hearted comment made, incidentally, by someone who herself cannot have children

thanks so much for making me so cr*p

monkeys_bunny

just back on the renting cos cant sell side of the thread:-
so im first time land lord too, been trying to sell but have given up and friends wish to rent so im going for it.

i have just got off the phone to Nationwide and they are sending me a Permission to Let form in the post, i have to fill this in and return it, this will cost me £50. Also if i rent for more than 6months (which i will) then my interest rate will go up after this time by 1.5% and i require (they recommend it) Landlords insurance, just about to search for that now.

im getting gas safety and electrical safety checks done

is that it?
what do people normally do about Council tax bills and elec gas etc?

i have also posted on an existing "1st time landlord" thread to try to keep this one clear for the sellers.

p.s. dont really want to get involved by im sureNEH didnt mean anything mean by the comment Gimbal as im sure you didnt. chin up x