Neighbour interfering with viewings

Bailey1980

silvercar said:

I would advise against renting it out, you risk getting hassled from tenants who are themselves upset with the neighbours. You will also have to revisit the property many times for tenant issues etc. 

if we rent it out we'd go with an agent with a fully managed service and maybe if the tenants have issues and report to police maybe something would be done about it. loveka said:

I just wanted to say how sorry I am about your situation.

I had a neighbour from hell ( not as bad as yours, though he was pretty bad) all over a boundary dispute he raised the day he moved in- we'd been there 20 years. We looked at so many options, injunctions,  court action, the police but like you hit a brick wall at every turn.

We tried to sell but 2 sales fell through, nothing yo do with the neighbour. We disclosed the issue to both sellers stating that the issue was personal to us. We had conceded to the boundary issue and basically gave him part of our garden.

In the end we rented it out. We were lucky enough to have a lot of equity in it some of which we took out via a remortgage and we  did a rent to buy mortgage to buy a much cheaper property. However, if this isn't an option you could rent somewhere else.

Renting it out is not necessarily the nightmare some are painting here. We rent with OpenRent so avoid the fees of using an agent. We have been able to pick and choose our tenant as we do the viewings and credit check so we get to know them. It's not foolproof but in my opinion it's better than an estate agent deciding who.lives there.

I loved that house but I was very close to being broken by the situation. If renting it out is your only option then do it. Its empowering to take some control of a situation. I wish you a lot of luck and a happy future. Honestly, just get out.

thanks for the recommendation about Openrent and we do believe the issue is personal to us as they have never liked us. 

GDB2222

I think that you will have endless issues if you let it. The tenants will understandably hold you responsible for withholding the information about the neighbours. 

The only way it would work is if the tenants are so intimidating that the neighbours stop bugging them. But, would you want thugs as tenants?

NameUnavailable

Bailey1980 said:

we know renting it out will come with issues - but we need to do something to cover the bills of a house we can't live in as well as making some money to pay rent ourselves on a diff property/ begin to save for another deposit on another house.  I tried to look at property guardianship instead but couldn't find how to go about finding someone for that. 

Cash buy companies are offering £30K below the market value, which isn't enough to pay off the existing mortgage on the property. 

Auction does seem to be the way we are going to have to go and hopefully the estate agent won't penalise us for this - contract states if we cancel the agreement and go elsewhere we have to pay £1000 for the marketing/work they have done. I know it's my fault for not thinking about all of this through thoroughly before signing up to a regular estate agent rather than an auction house. 

How much is 'market value' and how much of that do you owe the mortgage co? I can see that you obviously need to be able to sell for a price that covers the mortgage and leaves you with enough for a deposit for the next home.

Cash buy companies have a reputation for quoting a price and then dropping that at the last minute. Don't bother with them, also don't even consider 'modern method of auction' if your agent suggests that. If you decide to sell at auction choose a known traditional auction house.

However you will need to set a realistic price and reserve and that will be less that whatever you think the market value is - it's possible that the house will sell for market value in any case but usually auction buyers expect to get a property for under market value (and most properties sold at auction have some issue or other which makes them more difficult to sell traditionally).

But, what is 'market value' of a house with a disruptive neighbour? Because of the issues, which you would have to declare if selling normally, the value will be affected. I sold a flat way under 'market value' because of problems and I know some of what you're going through and how all consuming it becomes, but it's only you that can solve this and selling up at auction could be the best option to end it quickly.

Also if you sell at auction you can add terms of sale, such as the buyer has to pay the auction fees/legal fess (or a proportion of them) so you can offset some of any loss in that way.

It's probably worth speaking to an auction house and getting their opinion on a realistic guide price and reserve and seeing if that works for you - it's up to you what reserve you set but the auction house will want it to be realistic in order to get a sale. The only downside is that they'll probably want an upfront payment for listing the house.

Have you thought about dropping the price via the current agent? People love a bargain and will overlook all sorts of problems if the price is appealing enough.

Bailey1980

NameUnavailable said:

Bailey1980 said:

we know renting it out will come with issues - but we need to do something to cover the bills of a house we can't live in as well as making some money to pay rent ourselves on a diff property/ begin to save for another deposit on another house.  I tried to look at property guardianship instead but couldn't find how to go about finding someone for that. 

Cash buy companies are offering £30K below the market value, which isn't enough to pay off the existing mortgage on the property. 

Auction does seem to be the way we are going to have to go and hopefully the estate agent won't penalise us for this - contract states if we cancel the agreement and go elsewhere we have to pay £1000 for the marketing/work they have done. I know it's my fault for not thinking about all of this through thoroughly before signing up to a regular estate agent rather than an auction house. 

How much is 'market value' and how much of that do you owe the mortgage co? I can see that you obviously need to be able to sell for a price that covers the mortgage and leaves you with enough for a deposit for the next home.

Cash buy companies have a reputation for quoting a price and then dropping that at the last minute. Don't bother with them, also don't even consider 'modern method of auction' if your agent suggests that. If you decide to sell at auction choose a known traditional auction house.

However you will need to set a realistic price and reserve and that will be less that whatever you think the market value is - it's possible that the house will sell for market value in any case but usually auction buyers expect to get a property for under market value (and most properties sold at auction have some issue or other which makes them more difficult to sell traditionally).

But, what is 'market value' of a house with a disruptive neighbour? Because of the issues, which you would have to declare if selling normally, the value will be affected. I sold a flat way under 'market value' because of problems and I know some of what you're going through and how all consuming it becomes, but it's only you that can solve this and selling up at auction could be the best option to end it quickly.

Also if you sell at auction you can add terms of sale, such as the buyer has to pay the auction fees/legal fess (or a proportion of them) so you can offset some of any loss in that way.

It's probably worth speaking to an auction house and getting their opinion on a realistic guide price and reserve and seeing if that works for you - it's up to you what reserve you set but the auction house will want it to be realistic in order to get a sale. The only downside is that they'll probably want an upfront payment for listing the house.

Have you thought about dropping the price via the current agent? People love a bargain and will overlook all sorts of problems if the price is appealing enough.

Thank you. 

The market value is £195K and we have it on at £180K
( 3 beds, 1 bathroom and 1 WC. kitchen is less than three years old and was fully renovated and comes with an electric range cooker and integrated dishwasher, the entire interior has been put into good decorative order; painted white/off white throughout - thankfully we had a friend who was a decorator and did this for free; external wall insulation less than 4 years old and has a 25 year government backed guarantee; EPC rating of C, 80ft long and 40ft wide rear garden with a sun terrace at the bottom of the garden, paved front garden with room for 2-3 cars to be parked off road, within walking distance of a school, train station, bus stop and shops) 

Outstanding Mortgage is £175K so we thought £180k was fair - clear the mortgage and gives us some money towards a deposit for a new place, not much but will be a start

BeerSavesMoney

@Bailey1980 - it’s been mentioned previously but I would also look around and see if part exchanging towards a new build is an option?

Bailey1980

BeerSavesMoney said:

@Bailey1980 - it’s been mentioned previously but I would also look around and see if part exchanging towards a new build is an option?

thanks - we are bit reluctant with new builds as we have a lot of friends with them and they have had problem after a problem due to the workmanship and most seem to be semi-detached/terraced and/or overlooked and given everything we have been through, ideally we' like detached / not overlooked but i know beggars can't be choosers and we should just lump it - it's just hard to swallow that the choice to go is out of our hands. 

BlueVeranda

Bailey1980 said:

BeerSavesMoney said:

@Bailey1980 - it’s been mentioned previously but I would also look around and see if part exchanging towards a new build is an option?

thanks - we are bit reluctant with new builds as we have a lot of friends with them and they have had problem after a problem due to the workmanship and most seem to be semi-detached/terraced and/or overlooked and given everything we have been through, ideally we' like detached / not overlooked but i know beggars can't be choosers and we should just lump it - it's just hard to swallow that the choice to go is out of our hands. 

What if you view it as just a short term jump out of a bad situation - part ex the millstone house for a new build you could reasonably live with for a year or so? Then look to sell the new build for something that is more your style. I know it's not ideal, I would not like to plan two moves when by rights it should have been one either, but you need rid of this house.

Bailey1980

BlueVeranda said:

Bailey1980 said:

BeerSavesMoney said:

@Bailey1980 - it’s been mentioned previously but I would also look around and see if part exchanging towards a new build is an option?

thanks - we are bit reluctant with new builds as we have a lot of friends with them and they have had problem after a problem due to the workmanship and most seem to be semi-detached/terraced and/or overlooked and given everything we have been through, ideally we' like detached / not overlooked but i know beggars can't be choosers and we should just lump it - it's just hard to swallow that the choice to go is out of our hands. 

What if you view it as just a short term jump out of a bad situation - part ex the millstone house for a new build you could reasonably live with for a year or so? Then look to sell the new build for something that is more your style. I know it's not ideal, I would not like to plan two moves when by rights it should have been one either, but you need rid of this house.

Thank you it may very well what we have to do/end up doing. 

Grumpy_chap

Bailey1980 said:

Thank you. 

The market value is £195K and we have it on at £180K
( 3 beds, 1 bathroom and 1 WC. kitchen is less than three years old and was fully renovated and comes with an electric range cooker and integrated dishwasher, the entire interior has been put into good decorative order; painted white/off white throughout - thankfully we had a friend who was a decorator and did this for free; external wall insulation less than 4 years old and has a 25 year government backed guarantee; EPC rating of C, 80ft long and 40ft wide rear garden with a sun terrace at the bottom of the garden, paved front garden with room for 2-3 cars to be parked off road, within walking distance of a school, train station, bus stop and shops) 

Outstanding Mortgage is £175K so we thought £180k was fair - clear the mortgage and gives us some money towards a deposit for a new place, not much but will be a start

If I understand correctly, you mentioned upthread that you thought the reason for the neighbour's behaviour might be that they want to buy the property.
Has the neighbour put in an offer?
I know you might not want to sell to them, but it would be a way forward.

BellaBlondykeTheThird

Bailey1980 said:

NameUnavailable said:

Bailey1980 said:

we know renting it out will come with issues - but we need to do something to cover the bills of a house we can't live in as well as making some money to pay rent ourselves on a diff property/ begin to save for another deposit on another house.  I tried to look at property guardianship instead but couldn't find how to go about finding someone for that. 

Cash buy companies are offering £30K below the market value, which isn't enough to pay off the existing mortgage on the property. 

Auction does seem to be the way we are going to have to go and hopefully the estate agent won't penalise us for this - contract states if we cancel the agreement and go elsewhere we have to pay £1000 for the marketing/work they have done. I know it's my fault for not thinking about all of this through thoroughly before signing up to a regular estate agent rather than an auction house. 

How much is 'market value' and how much of that do you owe the mortgage co? I can see that you obviously need to be able to sell for a price that covers the mortgage and leaves you with enough for a deposit for the next home.

Cash buy companies have a reputation for quoting a price and then dropping that at the last minute. Don't bother with them, also don't even consider 'modern method of auction' if your agent suggests that. If you decide to sell at auction choose a known traditional auction house.

However you will need to set a realistic price and reserve and that will be less that whatever you think the market value is - it's possible that the house will sell for market value in any case but usually auction buyers expect to get a property for under market value (and most properties sold at auction have some issue or other which makes them more difficult to sell traditionally).

But, what is 'market value' of a house with a disruptive neighbour? Because of the issues, which you would have to declare if selling normally, the value will be affected. I sold a flat way under 'market value' because of problems and I know some of what you're going through and how all consuming it becomes, but it's only you that can solve this and selling up at auction could be the best option to end it quickly.

Also if you sell at auction you can add terms of sale, such as the buyer has to pay the auction fees/legal fess (or a proportion of them) so you can offset some of any loss in that way.

It's probably worth speaking to an auction house and getting their opinion on a realistic guide price and reserve and seeing if that works for you - it's up to you what reserve you set but the auction house will want it to be realistic in order to get a sale. The only downside is that they'll probably want an upfront payment for listing the house.

Have you thought about dropping the price via the current agent? People love a bargain and will overlook all sorts of problems if the price is appealing enough.

Thank you. 

The market value is £195K and we have it on at £180K
( 3 beds, 1 bathroom and 1 WC. kitchen is less than three years old and was fully renovated and comes with an electric range cooker and integrated dishwasher, the entire interior has been put into good decorative order; painted white/off white throughout - thankfully we had a friend who was a decorator and did this for free; external wall insulation less than 4 years old and has a 25 year government backed guarantee; EPC rating of C, 80ft long and 40ft wide rear garden with a sun terrace at the bottom of the garden, paved front garden with room for 2-3 cars to be parked off road, within walking distance of a school, train station, bus stop and shops) 

Outstanding Mortgage is £175K so we thought £180k was fair - clear the mortgage and gives us some money towards a deposit for a new place, not much but will be a start

If you sold for £180k and have £175k outstanding you won't get enough for a desposit on a new place after solicitors for selling your place then buying a new. Moving costs etc erc