Jox_co

What if I can't sell my house in the UK, should I rent it out?

Anyone been in this position but still gone ahead with plans and rented out?

hollykimalan

Adam Smith would have probably said....
"If it aint selling...the price is too high!"
...in a Scottish/Kirkcaldy/Fife accent, of course.

We have a figure we 'need' before we are prepared to sell and we are just waiting 'till similar houses in our area sell for above that figure!

Good luck!

Alan and Kim
x

emelems

That all depends... A house is only worth what someone will pay for it.

For me, renting out my house would not be an option.. I wanted to release the capital and have the cash available... renting out for me is a tie to England and would hinder my emigrating progress... so I would reduce the price so the house sold..

BUT... plenty of people prefer to leave an investment in England and find renting out their home as a preferred option.. (not for me tho)..

There are pros/cons with both options.. so I suppose the best thing for you to do is write a list and see what you come up with!

Em x

SarahA

You may or may not want to do it, but(!) a good Solicitor should be willing to work with you moving abroad and thus still allowing you to go even if you haven't got a firm offer on the table, so to speak.

Estate agents will ring you/email you if they have an offer and provided you give all your identification documents and everything needed to proceed with the sale at the start, any solicitors should be willing to send any contracts TR1's etc by airmail to you and you can send them back. Plus email/telephone/fax (you name it) updates when you need them. So even if you had to go before you sold your house, you DON'T have to be in the country to sell your property (though obviously it's easier to do it while you are still here). It's an option GL!

LisaD_uk

We have done that.
Our house has been on the market for 10 weeks now and it has not sold. The market is very slow in the area where we live. I did not want to be held back any longer and leaving it to sell was not an option as who wants to have a mortgage to pay and also rent in Oz. we have found someone who wants to rent our house for 3 years with a possibility of buying it. You have to look at how long you want to wait until you move, do you need equity in the house? would a little extra each month help you out? what do you want long term? Have a plan A a plan B and possibly a plan C.
Good luck I'm sure you will make the right decision.

tony s

we are leaving ours to sell, as its fell thru twice. we have no choice as we have sold cars and given jobs up. we have remortgaged so we can pay bills for 12 months. we have had cash buyers coming in 35 k less. so this is our cheapest option.

HAS IVE SAID MANY TIMES. THE HOUSE SELLING IN UK IS A JOKE

znaylor1974

I moved out over a month ago having failed to sell the house. I have about a year's worth of bills money in the bank and hope it sells in the that timescale.

I've dropped the price by £60k and now looks as if we may have a buyer.

Mel n Daz

Friends of our back in the UK are just considering doing the same.

They've had their house on the market for months, had their visa's in hand for months too, so i think they are going remortgage to get out here and rent it out until the market picks up again.

It's not an ideal situation, but the best they can come up with at the moment.

We had our house on the market for over a year before we got out visa's. We sold the house to someone who was going to rent it out, rented it off them until we were ready to go! Bloody perfect!

Hope things work out for you
Melis

Aussie_Pom

No

Oz to far away for a pain in the Arse like that, the emigration process to hard without the added stress of that.

Sell your house or come out for a holiday to see if you would really like it here then sell your house.

emmyjc1

we have rented out our 1 bed apartment in essex - looks like the guy is going too buy it so it worked for us.

Aussie_Pom

Glad it has worked out so far you, however house is not sold inthe UK until the contracts are exchanged.

tony s

some of us have no choice,we have to leave it to sell. ie no jobs, cars etc

dave7370

Exchanged on ours Thursday just gone, kind of needed the equity from it but managed to get redundancy from my job which has significantly improved our financial point of view.

For us, keeping the house from such a long distance seemed more hassle than it was worth. Yes, having some investment is fine, but not being able to check on it regularily would have been a major worry (for me anyway). Plus, with all the uncertainty with the house market being the way it is I was glad to get out with 4k over what we wanted anyway.

emmyjc1

Im aware of that thank you. If it doesn't sell too him I will keep renting it till I find a buyer. Someone will come along.

Aussie_Pom

For us We had a 1 bed flat and a three bed house, we were not as bothered about selling the flat as the house. We wanted the equity out of the house to buy again in OZ. That said renting the flat, even through rental agencies was a complete pain in the arse, really bad tennants.
Everyone has different circumstances I know but, I think that moving and starting again in a new country is much more difficult than you (i.e one) would think and not having an added complication at that time is worth its weight in gold.