In a grave situation

clutton_2

hi many thanks - glad you took my views in the spirit in which they were intended....

[EMAIL="auctions@pugh-auctions.com"]auctions@pugh-auctions.com[/EMAIL]

next auctions in manchester and leeds - 3rd and 8th june... you may be a bit late - altho they have just added on some addendum tonight....

trying to sell a house with tenants- in situ is even more difficult..... as if they are scroat tenants they will not allow viewings.... if they dont pay their rent you are worse off than before as you then have to embark on court cases to get them out.... and they could ruin the house....

are you in an area where you could advertise it as "holiday lets" - the same long tenure does not apply to these lets..... and tenants here have very few legal rights...

if OH can live there - that seems to be a good compromise... looking after the house... I would get it on the local market ASAP - i have sent you a PM

focus your attention on getting it to look as nice as possible - especially the outside.... and this may help take your mind off your worries.....

now is a really great time to do lots of decluttering !!

i suggest you find out what time frame it is from an initial enquiry to selling at auction - so that you have that as a stop-gap emergency measure if all else fails.

EAs will have heard "desperate" to sell many many times... if you say to them - "if this property is not surveyed, mortgage in place for a buyer in no chain, and contracts exchanged by x date - it goes to auction at"" ... and make sure they believe you.. they will hopefully then put ALL their efforts into selling your house above others nearby.....

if you use 2 EAs and offer a £500 bonus to the one that sells it in time.... worth a punt....... ?

best wishes

c

p.s. when looking at auction houses "guide prices" dont panic too much - they deliberately pitch them very very low to get their punters in through the door to bid !!!

MissMessy_2

pawpurrs wrote: »

It would vastly help if we knew why (without going in to the ins and outs) the neighbours were a problem. And then the answers could be different. Are they likely to move themselves any time soon? Could the house be used for holiday lets? Or are the neighbours so bad they would upset people there only short term?
Is it noise, abuse, parking issues, personal clash, right of way etc? If its a right of way issue, perhaps tennants with out a use of that right of way?

Im sorry pawpurrs, your questions are perfectly valid... please understand that I am having to weigh up the pros and cons of posting on such a popular site and that carries many risks for me right now. I have decided that worded carefully the help and advice offered is worth taking the risk... but only if I am sensible about what I disclose.

No they will never be moving, ever.

Holidays lets are not guarenteed, one month without money and were in trouble.

MissMessy_2

Hopejack wrote: »

Glad you are getting some ideas Miss Messy

The more I think about it, the more I think rental is a bad idea if you want to get shot of the place. If you get a tenant in (and to be honest, would you want to inflict the NFH on your 'nice' tenants, you'd really only want scummy ones in who quite frankly, like Clutton says, will wreck the place to oblivion), you will probably not be able to sell it anyway - most people are put off by tenants living in a place unless they are buying as a BTL. Plus, you'll have the nightmare of managing it, dealing with the fall out with NFL and the possible cost of making good the place if trashed - which doesn't come cheap - been there!

Getting rid fast is the best option - auction or EA if they think they can sell it, personally I think that will take longer than you have though. I've just sold a place to a FTB, it took 12 weeks, offer was in 2 weeks after it went up so 10 weeks in all, with your type of property price, most people will need a mortgage which aren't exactly quick to sort these days and/or even worse, in a chain!

Auction house is my advice and I'm pleased you are seeing (clearly) that it will be at a loss - however as you say, if you can rent and possibly take a loan out to pay off the shortfall then it may work?

Thanks for giving me Hope..Jack :j

I am not quite there with accepting making a loss at the mo but working on it If our mortgage is 222k and the property is worth around the 260k I was kind of hoping to maybe break even

terryw

Miss Messy,

I really do feel for you. I wish that there was a magic wand. But there is not. I am not a huggy type of bloke but you do deserve the hugs.

However, as you have surmised, the route of letting and with the place on the selling market is a definite no-go. Selling and letting are two different beasts and they make poor bed-fellows.

Best bet all around is to sell even at a loss and get on with your life away from these horrible people.

vbw

terryw (with many empathetic hugs)

MissMessy_2

terryw wrote: »

Miss Messy,

I really do feel for you. I wish that there was a magic wand. But there is not. I am not a huggy type of bloke but you do deserve the hugs.

However, as you have surmised, the route of letting and with the place on the selling market is a definite no-go. Selling and letting are two different beasts and they make poor bed-fellows.

Best bet all around is to sell even at a loss and get on with your life away from these horrible people.

vbw

terryw (with many empathetic hugs)

Terryw for goodness sake.. you have given me a lump in my throat.. little squeezey hug to say thank you

Hopejack

It is a shame but as you said earlier, your family and your health are the most important thing

Keep us updated won't you.

MissMessy_2

Ok new revised checklist!!

Get house on market with EA with set deadlines

Investigate auctions chosse appropriate auction houses and check calender for deadlines for entry

At same time continue looking for part ex.... I had thought of looking at part ex's in a wide area as i could always rent out the new build for 6 months and rent where i am then sell on again.... get housebuilder to pay stamp and legal fees... even if house is inflated at least its better to get away ?

clutton_2

Miss Messy - please do not feel pressured into revealing personal details just because you are asked... dont put yourself in any further danger...... - this is the world wide web and as you say - we never know who is reading this....

terryw

MissMessy wrote: »

Terryw for godness sake.. you have given me a lump in my throat.. little squeezey hug to say thank you

Shucks, kiddo. Cut losses and run. You can get another house but you can't lose or upset your family. Karma WILL repay the low-life eventually.

Hopejack

Please bear in mind that it's not that easy to get a high ltv mortgage on a newbuild right now and a lot of lenders take unkindly to builder 'incentives'. Sorry to shoot that idea down but it might not quite work out like that. Plus, a few years back (perhaps changed now) you had to part ex 'up' quite a bit on the house you were part ex-ing if you see what I mean? So you part ex a £250k house to buy a £350k house.... I think therefore, unless it's all changed again, part ex-ing might not be a go for you.

The other two options are good though...

Are you sure the NFH won't trash your place while you are not there? That would be my worry esp if they find out you are trying to sell.