moving overseas and property to sell

alifeforfriend

Hi everyone,

I need some advice from you people.

I will be moving overseas end of this year i.e. dec 2020.

Now i have been trying to sell my property but the market been sluggish its hard to get the price i have been looking for.

So i am considering if i dont get the price i have been looking for i am thinking of renting out the property via agency and at the same time have property on market for sale.

I dont have anybody here in the uk who will manage the property for me , so i will be handing agency for fully managed services.

Do anybody have any experience in this and how did they managed it in the end.

Did it work out for you. I just need advice on how can it be managed and people experiences

Vestra

Why would anyone rent your place if they have a chance of being booted out along with having to facilitate viewings? If you want to sell it price it to the current market and it will sell.

Slithery

A terrible idea. Having tenants in will make it even harder to sell and will achieve an even lower price. Even if it is fully managed it's still you that has to comply with all of the LL regulations. If you can't get permission from HMRC then as an overseas LL the tenant has to legally pass 20% of the rental amount directly to HMRC on your behalf. Plus many other things I haven't thought of yet.

Just drop the price now until it sells.

Crashy_Time

Vestra wrote: »

Why would anyone rent your place if they have a chance of being booted out along with having to facilitate viewings? If you want to sell it price it to the current market and it will sell.

Or just let someone live in it if they pay your council tax and allow viewings? Probably still hard to find someone even then IMO. The usual Landlords and the Law posts will no doubt follow but the least hassle option is just to price it so it sells quickly.

RelievedSheff

Just price it to sell.

The price you want to achieve and the price someone else thinks it is worth are clearly not the same or it would have sold by now.

The market is only sluggish if your property is over priced!

Crashy_Time

RelievedSheff wrote: »

Just price it to sell.

The price you want to achieve and the price someone else thinks it is worth are clearly not the same or it would have sold by now.

The market is only sluggish if your property is over priced!

Overall the market is sluggish because most property is overpriced, someone moving overseas can`t sit around for years flying a kite though......

G_M

One or the other. Either

* set up business as a landlord, after first learning what's involved and doing all the maths on income, costs, tax etc, and accepting the risks (tenants from hell etc), or

* price the property properly and sell

Don't try to do both.

* New landlords (1):advice & information :see links in next post

* New landlords (2): Essential links for further information

* Letting agents: how should a landlord select or sack?