Cazmanian_minx's MFi3 diary

cazmanian_minx

OH has now pointed out the problem that as a self-employed person with an annual income of £15k and a joint mortgage starting on 2nd June of £145k, I may not be able to borrow any more money. He has also pointed out that my rough estimate of needed to spend £10k to get it rentable is rather over-optimistic and estimates nearer £20k (and he's the DIY expert, having built his own extension in the past).

I shall investigate...

Caz

setmefree2

Oh Caz that's tough:o I have no idea what you should do. I'm old enough to have been around in the early 90's and when some of my friends couldn't sell they did become "accidental" landlords and a few years later they made quite abit of money as the market recovered. However, if you do decide to sell you need to find the right price to sell, otherwise you are always chasing the fall and lagging behind it. It's so difficult to sell in a falling market. I have experience of this as well. You drop the price, the market drops further, you drop it again, blah,blah, blah...poor you.:o Can your ex help in anyway?

cazmanian_minx

setmefree2 wrote: »

Can your ex help in anyway?

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Thanks, that's just made me laugh out loud for the first time today!! My ex wouldn't you know what down my throat if my back teeth were on fire

Renting it is now definitely out as an option. I've been to see the agents this afternoon to give them their termination letter, and we've come to a deal - I've slashed the price and they have two weeks to find me a cash or near-cash buyer who can complete by 2nd September. If they can't do it in 14 days, then it's off to auction. They've asked me to keep tomorrow clear for viewings and were hitting the phones to all their investor customers as I left, they're very, very optimistic they can sell it fast with the new price, so cross your fingers...

Caz (tidying up and then going back to her transcription, honest...)

setmefree2

Well I'm glad I've made you smile:D Good Luck with tomorrow...

P.s. There are some meeeean people on the house board, be careful to ignore them!

cazmanian_minx

Oh I'm getting quite a kicking already - so far I've been told that buying a house in Scotland without having sold my flat is like putting an electric drill against my head and pulling the trigger repeatedly! All I can say is, they haven't seen the house

Caz

setmefree2

cazmanian_minx wrote: »

All I can say is, they haven't seen the house

Caz

:D:D - can't say too much as they might find us here talking about them:cool:. You'll get some good advice too though (hopefully);)

cazmanian_minx

Viewing at 4.30pm, wish me luck!

"8-10 hours" CD has arrived and turned out to be 20 :eek: This is great news from a financial point of view and a bit of a disaster from a time point of view! I've emailed them to let them know that it won't be done before we move now.

Caz

catshark88

Best, best of luck and really sorry to hear about the problems that you have been having.

I sold a house by auction many years ago and was very pleased with the process. Knowing that you have "exchanged" when the hammer falls is such a relief. Check all details though. My solicitor came to the auction and somehow we didn't notice that the buyers had not actually signed the deposit cheque (nothing sinister, just a bit excited). It was all sorted out in 24 hours but it was quite a nervous 24 hours!

Take care, have fingers crossed for you.

setmefree2

Hope it goes well!:D

cazmanian_minx

She was in and out in under five minutes, I somehow don't think that's a good sign. We shall see...

Caz