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Options for an unsellable house ? - Page 2

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Options for an unsellable house ?

edited 22 February 2013 at 3:29PM in House Buying, Renting & Selling
13 replies 4.2K views
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Replies

  • edited 22 February 2013 at 12:07PM
    aliamaaliama Forumite
    242 posts
    edited 22 February 2013 at 12:07PM
    johnlocke wrote: »
    Basically the individual exhibits some bizarre behaviour and some of their actions in the past that made local and national press shows them as a violent and somewhat disturbed individual, which he isn’t really the papers did exaggerate the stories somewhat ... as they do.

    High turnover of tenants might not be an issue; it depends really on whether the tenants are willing to put up with the behaviour of the neighbour, which the OP would know better than anyone. OP has stated that the neighbour isn't really violent and that the stories are exaggerated so once a tenant moves in, it may not even be an issue, particularly if the tenant gets a good deal.
    NSD May 1/15
  • DaftyDuckDaftyDuck Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭
    The compensation you are expecting to get from the seller should - in effect - help to account for the equivalent lower selling price. How much are you expecting to receive, if you do get it?
  • thelemthelem Forumite
    774 posts
    johnlocke wrote: »
    Myself and my wife ...have 18k equity in the unsellable property (i.e 10%)

    No you don't, your valuation is 18k higher than the mortgage you have secured on it, which isn't the same thing. If the only offers you can get are £30k lower than your valuation then you've got £12k negative equity. Except when actually conducting a transaction any valuations are only estimates, so don't get so stuck on specific figures.

    Have you tried all the usual things to make the house more saleable? i.e. declutter, cheap redecoration, timing viewings when the neighbour is unlikely to be around. Obviously don't lie about the neighbour, but don't bring it up until you need to and play down the problem.
    Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.
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