Please help - 3 offers, no sale!

Stuckupahill

littlelily wrote: »

I've even considered renting the property to one of them for 6 months so that they can sell their own - we are moving into rented while we renovate a wreck.

Do you need to sell to fund your renovation project? If not, then why bother moving into rented accommodation after the sale? why the rush to sell anyway?? save yourself time/effort and cash and stay put while you're doing up the new place...
if you've any equity in your current house then you could free up some of that to help you start the renovation work...obviously you'd have to afford the repayments but you could go interest only for a short while...any local mortgage adviser would be able to help you.
you've been unlucky that all your potential buyers have had problems with their chains but if they're all still genuinely interested then eventually one of them should come good...
I've sold a few houses and all your buyers seem ideal (up front about their circumstances..) so you're quite lucky!
In the meantime crack on with renovating your new house.

Andy

littlelily

Thanks, Andy, for your words of encouragement!!!

We ideally want to sell before we renovate because:

a) the renovation project is a biggy (think derelict, rat-infested barn in derelict, rat-infested farmyard!)

b) We are lucky enought to have been able to rent a cottage for the duration of the build at a truly peppercorn rent. This will allow us to save more money to put towards the project as we will be mortgage free for around a year and paying very little rent

c) And this is the main point - I don't think I'd be able to sleep at night if we committed ourselves to the build BEFORE we had the readies in the bank to pay for it. This is my hang up, I know, but I want to enjoy the project and I think that would be much tougher if I was constantly worrying about if/when our house would sell.

Probably doesn't make much commercial sense, but who said houses were about logic?!!!??