In a grave situation

FIK

Can you not sell to one of those companies who buy anything? Or communicate with all your neighbours? You will not be the only one with problems. I had a similar problem a few years back and got everyone together. Make sure you are always reasonable and document everything they do that is anti social. Never stoop to there level as you have to be whiter that white. You need the community behind you?

silvercar

If you rent, how long before the tenants are screaming at you to do something about the neighbours or just leaving. That means that you are left with no rental income and a mortgage to pay. Selling has to be the answer, for no other reason than the buyers will have to deal with the problem not you.

azkaban420

Hi bouche, my personal reasons for suggesting the OP to sell, even at loss, is because from the sounds of it, she has done all the fighting she could, without any joy. Sometimes when something is close to driving you to a nervous breakdown, as OP suggested, it is better to just count your losses and move on. I have been in fights with the LAs for different reasons to the OP which seem so minute in comparison, but I kid you not, after months and months of fighting with them and hearing 'no, sorry we can't help you further' I too have lost a lot of fight in me, so I can understand to some extent where the OP is coming from.

Just MHO

Az

ILW

In this case the neighbours own the property.

princeofpounds

I don't get you, any of you

Fair point. But I think the problem is not that people aren't willing to stand up for themselves, it's the fear of the repurcussions that come afterwards.

If you've got nothing to lose then you don't mind being a bit more 'robust' but if you have a professional job, many of which required 'good character' to avoid being expelled from the profession formally or informally, it's what happens afterwards that's the problem.

Wee_Willy_Harris

bouche wrote: »

Mixed Housing DOES NOT WORK, not only socially but lenders wouldn't lend to my buyer unless I had, in the block, at least 1/3rd "owner occupiers" - I was mad at the time and so was the buyer, ea, et all. -Partly cause it went against government policy.

But I can understand it now, perfectly well. If I were a bank, even a large one, I wouldn't lend on mixed housing - NO WAY

Precisely cause of the problems the OP now faces, and it isn't getting any better.

Her problem neighbour is an owner/occ.

BitterAndTwisted

From the little detail the OP was prepared to share it does sound like all avenues to address these neighbours from hell have been exhausted. mention has been made of the Police, child protection, their local MP and the Press. I daresay contact has been made with their Local Authority's ASBO folks as well. I'd throw in the towel too and be desperate to sell at any price just to keep my sanity and to keep my children safe. What would you suggest short of petrol-bombs?

clutton_2

OP - whilst i have every sympathy with your awful situation (you are indeed between a rock, a hard place and a brick wall) - i see very little evidence of practicality and reality in much of the advice offered on here up to now

As a LL of 11 years, i am not going to pull any punches here...

Neither you, nor an agent, will be able to get good long-term tenants into this property such that they will pay your mortage and leave you in peace... there is toooo much water under very public bridges for that .. as seemingly everyone knows the historical minutiae of your appalling situation already.... No one will want to live there other than scroats..... and they will then add to your alrfeady over-whelming burdens..... Now is not the time for you to be learning a new career in property management. Please abandon that idea....

Whether we all feel hugely, and righteously, aggrieved that OP should suffer as a result of what has happened next door.. the reality of her situation is that she (and her family) is suffering and will continue to suffer until she takes some action... next door are going nowhere....


To summarise...

You have a debt which must be paid - your mortgage.

You refuse to move back in - so are currently paying mortgage and rent.

You cannot pay both of these for more than 3 more months.

Option 1 -

You have to talk to your Lender - as they own the house.... not you

Ask the lender if you can sell below the value of your outstanding mortgage... IF they agree, you will be left with the debt of the outstanding amount and this will have to be paid off. It may well continue to accrue interest.

Lenders come across this all the time.... They have systems in place to deal with this.


You may not like what they say.......




Another option could be:-

Do nothing until the lender takes out repossession proceedings against you in court.. and they can do that after 2 months of missed payments.... You will then end up with a County Court Judgement which will seriously hamper your life-style for 6 years as you will be unable to get credit, proper bank accounts, store-cards, loans, etc etc


Another option could be


If you sell at auction (no messy enquiries re neighbours) then at least you will not incur as many Lenders' respossession fees (which will be huge... really huge), and you will have an end to the house-sale question.

BUT you will make a loss - this is utterly inevitable.... utterly inevitable... you must accept that.. fair or unfair as it may be... you will lose money.




Bottom line is



Your house (including neighbours' reputations) is just not valued as highly as you want it to be.....

This truly is an appalling situation you are in, but, in it you are... and you must face reality... i know its tough.. but your family's mental health is your prime consideration here.......

IF there are grounds later on to sue the neighbours for your loss, that is for another day.....

So to recap - - if you are utterly loathe to accept these suggestions then go to CAB and talk to them....

Then Talk to your lender......

Could you get Doctors' letters as to why you cannot return to the property ? It wont stop a repossession but it will go part way towards explaining your "abandonment" of the property to a judge.

My heart goes out to you, it really does, but you have some Very hard choices to make very quickly.....

Having seen many respossessions, its not good... do whatever you can to prevent that..... and the only way to go forward is to talk to your lender ......

bw

princessamy86

Hello OP

I've just had a read through and wanted to offer my support and my two pennies worth (I'm an estate agent, albeit based in the north west)

I completely understand why you would want to move, it sounds like you are utterly at the end of your tether. How much homework have you done on the market value? If you would like to PM me your full address and postcode I will pull some stats off rightmove for you, although I understand if you would rather not.

It sounds like you would struggle to sell through a traditional agent, unless you went ahead with a real knockdown price. Even then I think there's a high chance of the sale falling through at some stage and then you're even further down your tight timeline having spent even more money on solicitors. However, I think you should keep it as an option for the moment.

By the sounds of it, an auction might be the best way. The company I work for deals with auctions and they don't charge anything like 10%, although it might be different in your area. Can PM details of auctioneers if you like, I will ask our auctions manager (who used to live down south) for recommendations. It's certainly worth getting an auction valuation from one of the firms and finding out the costs involved and what you are likely to get from it.

I don't think you'll be able to rent it, clutton has made some excellent points above.

I'm not really up to scratch on the getting repossessed side of things so I will refrain from commenting on that part!

If you want me to do the rightmove stuff for you just let me know, and massive hugs to you and your family, I hope you find a solution.

clutton_2

if you submit it to an auction house in Manchester - Pugh for example - there is much less likelihood of the "local newspaper stories" being known about by possible purchasers...... Out of town BTL investors often buy property "blind" with no visits to the property prior to purchasing...

At auction there are frequently properties for sale offering only semi disclosure of legal facts, and even half the normal info required by a solicitor in a normal sale.... purchase is definitely Caveat EMptor (buyer beware) - so no come-back on the vendor.....

BISH BASH BOSH - i am not taking away any of OPs choices, i am offering her my ideas based on having seen many many folks in her position (having a seemingly unsellable house and with low equity).