To sell or keep?

Grumpy_chap

OP and siblings should either just sell the property and conclude the process they have already started.
If OP really believes the value has shot up, OP could buy out the siblings.
Out of interest, how significant is the £4k in perspective?  It is a quite different percentage between a run-down 2-bed terrace house in a dive of an area and a top-end 2-bed terrace in lala land footballers' belt.

steve866

The mini boom started when the market re-opened so you have benefited from it. If you had listed back in January it is very possible that you wouldn’t have achieved the same asking price. 

allways_injured

Thanks for all the replies, I realise I have come across as being greedy by saying we have accepted £4,000 less than the asking price. We expected to be knocked down but feel a bit miffed as a couplke of weeks after we accepted the offer 2 houses in the same rd and 1 around the corner all of similar standards are up for £10,000- £20,000 more. Our buyers have not had survey or shelled out any money yet. Also there is an emotional attachment to the house as it was where we were all born and grew up. 1 of my sisters wants it gone but my other 1 is like me, and said shall we buy her out . There is a bit of modernisation needed on it if we were to rent it out. Also someone on here pointed out about having to have it rewired, something I hadnt thought of. Heads in a turmoil Thanks everyone.

GDB2222

I would not underestimate the emotional attachment. Once it’s sold, you can’t get it back. BTDTGTTS.

eidand

The fact that other houses are up for more makes no difference to you. You don't even know if they will sell. They might have things yours doesn't. Just make a decision already and stop changing your mind.

[Deleted User]

I can understand your emotions. I found it hard to sell my parents house and dearly wanted my brother to buy it. However we sold it on the open market, and Im glad we did.
I defo would not recommend renting it out. It would blur professional landlord lines and if the tenants were awful, it could compound your emotions even more.

Slithery

allways_injured said:

Also there is an emotional attachment to the house as it was where we were all born and grew up.

This is the worst reason possible to let a property. What happens when you get bad tenants and trash the place. Remember, if you let it out it's not your home anymore, it's the tenants.

AnotherJoe

I'm not going to do your work for you but just read through the threads here for landlords who,perhaps won't be able to evict non paying tenants for the rest of this year and likely longer. And probably since those tenants won't have the money can't effectively be sued either, and any damage they make is likely non recoverable also, you can't get blood out of a stone. 
Just sell it and be done. Especially since any additional sum you sell it for is divided by three. 

Mickey666

If you keep the house but don;t live in it then don't forget there will be CGT to pay when it is sold, so that will take a chunk out of any rise in value, though perhaps not if the gain is less than your CGT allowance.

That's the thing really - sell today and you know where you are . . . wait a while and you're betting it will increase in value, but what if it falls in value?  meanwhile, even if empty you'll have to pay insurance and utility standing charges etc.

You know that old saying about a bird in the hand . . . . ?