Selling a house quickly

Gangstabird

I really agree with the above post. I would not sell it.

maryotuam

It won't be double it's value according to what's going on in the economy now. The equity you have in the house could be invested elsewhere.

pulliptears

Have you considered contacting local housing associations? most are always on the lookout for cheaper properties to buy, especially in the current climate where there is a big shortage of rental properties for their tennants.

mlz1413

Why not ask a couple of agents about an informal tender?
You can have a big open weekend (so you only need to clean up once)
You get offers into the agent with buyers current situation
So you get to see quickly what people are willing to pay and how serious they are (ie buyer for their house, mortgage in place etc).
As long as agents charge a sale only fee you real don't have anything to lose as it can always be marketed 'normally' or rented out at the end of the 2-4 week period its up for tender.

neverdespairgirl

IanRR wrote: »

Is anyone seriously suggesting that it wont be worth at least double its current value, in 10 years time?

Yes, me. In real terms, it could well be worth the same in 10 years' time as it is now, or even less.

In the last housing downturn, it took the average UK house from 1989 to 2002 to return to the same value in terms of average earnings.

ellielou_2

IanRR wrote: »

Why would anyone want to sell a property? The minute you do that, you hand over every penny of its future growth potential to someone else!

Is anyone seriously suggesting that it wont be worth at least double its current value, in 10 years time? That being the case, spend 4 grand on it now, and rent it out for 10 years.... Take out as much equity as you can now, and keep doing that, for the rest of your life. Its like having a money tree, at the end of the garden. But the minute you sell it, you chop down your money tree, to sell it for firewood. Do you want to own an orchard, or a bitof firewood money???

Please think about this.................

This has got to be the funniest most uninformed post I have ever read.
Have you read the rest of the thread - I do not want to keep on taking equity out of the property I want to sell it as I don't need or want it & have no interest in creating a 'property empire'.
And also, do you realise that you can't take the equity out of your property for free without selling the property. I'm afraid I find your opinion misguided - but that's what I think I'm sure there's plenty of people will agree with you but unfortuately I'm not one of them. The house needs to be sold, the sooner the better but we are not willing to let it go for an unreasonable price.

Maybe you'd like to buy my moneytree IanRR?

guppy

IanRR wrote: »

Is anyone seriously suggesting that it wont be worth at least double its current value, in 10 years time?

Assuming all the other optimists sharing this view survive the coming crash and still haven't learnt their lesson you might well be right.

What a terrifying thought

hoggums

IanRR wrote: »

Why would anyone want to sell a property? The minute you do that, you hand over every penny of its future growth potential to someone else!

Is anyone seriously suggesting that it wont be worth at least double its current value, in 10 years time? That being the case, spend 4 grand on it now, and rent it out for 10 years.... Take out as much equity as you can now, and keep doing that, for the rest of your life. Its like having a money tree, at the end of the garden. But the minute you sell it, you chop down your money tree, to sell it for firewood. Do you want to own an orchard, or a bitof firewood money???

Please think about this.................

I AM.

I think anyone expecting the last 5 years growth to continue is extremely naive. We have just had a housing price bubble (the largest in history). Look at all the past bubbles in history - it has taken years and years for the respective markets to recover to previous highs.

In Feb 2000 the FTSE was at 6700 - where is it now? 5400 - How many people jumping onto the shares bandwagon back then thought there was no way that the FTSE would be lower in 2008 than in 2000 - yet here we are.

And just as in any bubble - there's a period of holding out - just like in the latter half of 2000 until reality dawns and the falls really begin. What happens in every bubble is that the falls are over done too.

I personally think in 2017 house prices may be approaching what they were in 2007 at the peak.

IanRR

hoggums wrote: »

I AM.

I think anyone expecting the last 5 years growth to continue is extremely naive. We have just had a housing price bubble (the largest in history). Look at all the past bubbles in history - it has taken years and years for the respective markets to recover to previous highs.

In Feb 2000 the FTSE was at 6700 - where is it now? 5400 - How many people jumping onto the shares bandwagon back then thought there was no way that the FTSE would be lower in 2008 than in 2000 - yet here we are.

And just as in any bubble - there's a period of holding out - just like in the latter half of 2000 until reality dawns and the falls really begin. What happens in every bubble is that the falls are over done too.

I personally think in 2017 house prices may be approaching what they were in 2007 at the peak.

The FTSE? What on earth has that speculation rubbish got to do with anything?

Do you see Alan Sugar, or The Duke of Westminster rushing off to sell their property? I think not. We are building 96 fewer houses than are needed every day. This will get worse, creating a massive shortage. Here we are, half way through the crunch, and property prices are still above this time last year. So in 14 months time, when all this is over, we will see massive rises in property values. As I never sell a property, I really do not care whether prices are rising or falling. I just revisit them, when times are good, and withdraw as much equity as possible. Tax free cash. Lovely! Please keep on supporting the doom mongers.Keep telling them how much property is falling. And while you do, their perception will be that they need to sell it well below market value. I am a contrarian investor, and in it forever. :rotfl:

IanRR

ellielou wrote: »

This has got to be the funniest most uninformed post I have ever read.
Have you read the rest of the thread - I do not want to keep on taking equity out of the property I want to sell it as I don't need or want it & have no interest in creating a 'property empire'.
And also, do you realise that you can't take the equity out of your property for free without selling the property. I'm afraid I find your opinion misguided - but that's what I think I'm sure there's plenty of people will agree with you but unfortuately I'm not one of them. The house needs to be sold, the sooner the better but we are not willing to let it go for an unreasonable price.

Maybe you'd like to buy my moneytree IanRR?

I am sad that you find my view funny. But uninformed I am certainly not. I am a leading BTL investor,and a complete expert at this business. I understand that there are lots of people, like yourself, who have genuine reasons to sell. My point was to stop others from making the serious mistake of selling, if they do not need to. You certainly CAN take most of the equity out of your property by not selling it, but only when you understand how. You will certainly make far more money, by retaining your asset, than by selling it. The most inspirational book on the subject is written by a guy named Andy Shaw. I suggest anyone interested in this does a search on this guy, and spends the best 20 quid of their life, on his book. I did, and it has completely changed my life.

Sadly, you are not prepared to sell at an unrealistic price, and with so many others out there that will, this is the best time I have ever enjoyed in property. I wish you all the luck in the world - genuinely.