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Cakeguts

I don't think you really understand about selling houses. A house is only worth what someone will pay you for it. It isn't worth what you think it is worth and it may not be worth as much as you paid for it. It is only worth what someone else will pay for it. So if it hasn't sold then that is because no one thinks that the price is worth it to them.

marksoton

seng1984 wrote: »

If I wasn't getting so much interest I would agree that it was overpriced but I am of the belief people would make an offer regardless of the price. An identical property sold for the same price ours is selling for several months ago so in no way do I think it's over-priced

Interest in what? Cos one things for sure, no one is interested in buying it at the price you want.

seng1984

Thanks for your contribution

Brock_and_Roll

From painful experience in the past, it may well be that the OP is chasing the market down.


In a nutshell and with the advantage of hindsight it is often better to make adopting a "first cut is the deepest" strategy as Rod Stewart would say.

FBaby

So did you ask your lender permission to let and they said no? Did they say why? If they are not willing to do that, you will need to look for a buy to let and since you are not the owner of any other property, then you will find most doors closing in on you. There might be very limited lenders who might consider you, but you'll need to go through a broker. That's assuming you satisfy their other criteria. Are you able to come out of your mortgage immediately? How do you plan to do it, move into your partner's house, rent yours and then look into buying together? Again you might find getting a residential mortgage after having a buy to let not so straight forward. You will have to pay stamp duty on this.

What you need to consider though is that being a landlord is very stressful and costly. In this instance, you'll become landlords of two properties and that will be quite costly by the time you take taxes into consideration (soon to include interests), cost of repairs, refurbishment between tenants and that's not even considering the nightmare that comes with bad tenants.

Frankly, if you intention is just to buy with your partner, lower the price of your house, that will come much cheaper than the above alternative.

mattk_180

seng1984 wrote: »

If I wasn't getting so much interest I would agree that it was overpriced but I am of the belief people would make an offer regardless of the price. An identical property sold for the same price ours is selling for several months ago so in no way do I think it's over-priced

I have posted the question on the other board, thanks.

I know you're not interested in what people here have to say, but if you are of the belief that people will make an offer regardless of the price, then there is an incredibly large question to ask of "Why haven't they then!?"


A house will sell if it's priced correctly. If not there is something fundamentally wrong with it.


Good luck going forward.