Any experience of 'a quick sale'?

blondie4281 · 16 July 2009 at 7:14PM

clutton wrote: »

i think you have bought a pup if it has now been underpinned twice.... sorry thats not what you want to hear. ...

can you rent it out ?

Yes we most definitely bought a dud one! We are in process of pursuing the vendors through a solicitor for they didn't tell us that it had been underpinned a year before our purchase. They said no building works had been undertaken since the property was built. :mad:

We can rent it out. This is the route we are currently going down. But our mortgage payments will be more than we can get in rent. We are going to do this but it is not ideal hence why I am looking into all possibilities.

silvercar · 16 July 2009 at 7:24PM

If the yield is good, landlords may be a good bet. Rental values don't deteriate that much when a property has subsidence but market value will, so the rental yield will be higher than otherwise.

Fire_Fox · 17 July 2009 at 12:54AM

You know to let the house you will need the permission of the mortgage provider, and to pay income tax on any income over and above the interest on the mortgage?

princessamy86 · 17 July 2009 at 8:45AM

Not sure about auctions around Oxford, but when you are looking into them I would try and choose a fairly local one. Talk to the Estate Agents, see if any names keep popping up, then maybe go and check a couple out to see if they are what you need. I think you'll need to go for a mainly residential one, and see what sort of price the auction valuer thinks you will achieve. It could be a LOT less than open market value, but if you really just want rid of it then this might be the best way.