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who else can't sell house in Uk and has visa

who else can't sell house in Uk and has visa

Old Feb 25th 2010, 4:39 pm
  #76  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by carolinejones3
up date re last post.

SO confused again.

Again opinions and thoughts please.
It does sound like a better deal for you, would you be able to get them to sign something saying they are definately going to buy yours. Will they buy yours when one house sells or would they be waiting til BOTH houses sell?
It also seems to me that they have 2 houses to sell whereas you only have one to sell. Would all depend on how desperate you are to sell/rent, but you may need to wait some for them to sell BOTH houses and then get your equity.
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Old Feb 25th 2010, 4:55 pm
  #77  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by carolinejones3
up date re last post.

Well, the couple who made the offer re renting ours until they sold came to ours for another chat re their offer.

They are in their 50's, second marriage, have children in there old teens to young 20's at home. Both have houses to sell as I said.

They would be happy to rent ours, have nothing knocked off. Pay our asking price, also would not expect us to have any responsibility re up keep off house ie- landlord responsibilities.

Other half who was very sceptical at first thinks we should take the offer. I am now scared! Too many what if's..etc. We have an appt next week to discuss with a solicitor to see if its viable or not or too high risk.

SO confused again.

Again opinions and thoughts please.


Many thanks

Caroline x


Ps Congrats Comet, Karma sent
They're offering to rent your house from you, they're not in a position to buy it.

If you're happy renting rather than selling go for it, but make sure you have a legal tenancy agreement and check if your lender and insurance cover this.

If they sell during the tenancy you can mutually agree to cancel the tenancy and sell to them (I'd want to consult a solicitor about this process). I'd also make sure you know the laws about sitting tenants.

Thing is you are renting your house out at this stage you're not selling it, is that what you want?

All IMHO and hopefully more people with add their thoughts.

All the best!
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Old Feb 25th 2010, 5:06 pm
  #78  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by Lyx
It does sound like a better deal for you, would you be able to get them to sign something saying they are definately going to buy yours. Will they buy yours when one house sells or would they be waiting til BOTH houses sell?
It also seems to me that they have 2 houses to sell whereas you only have one to sell. Would all depend on how desperate you are to sell/rent, but you may need to wait some for them to sell BOTH houses and then get your equity.
Thanks Lyx.

Yes they would sign a legal document with the understanding they HAVE to buy ours. It would all be done via a solicitor. I am just worried it won't be worth the paper its written on if it all goes 'tits up'. We are then on the other side of the world dealing with a mess.

are we we desperate to go? hell yes! but not enough to make a stupid disscision..Have I answered my own question there

Caroline
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Old Feb 25th 2010, 5:10 pm
  #79  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by freebo
They're offering to rent your house from you, they're not in a position to buy it.

If you're happy renting rather than selling go for it, but make sure you have a legal tenancy agreement and check if your lender and insurance cover this.

If they sell during the tenancy you can mutually agree to cancel the tenancy and sell to them (I'd want to consult a solicitor about this process). I'd also make sure you know the laws about sitting tenants.

Thing is you are renting your house out at this stage you're not selling it, is that what you want?

All IMHO and hopefully more people with add their thoughts.

All the best!

Thanks Freebo, your right, it is renting until they can buy. Do we want this? Not really, always a last chance saloon option.
I have put undue pressure on us by saying its this year or forget it. I am so fed up with it all. The main reason is in September our son starts secondary school, I didn't want him to start with all his mates and then pull him out.
I think I need a holiday
Caroline
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Old Feb 25th 2010, 5:18 pm
  #80  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by carolinejones3
Thanks Lyx.

Yes they would sign a legal document with the understanding they HAVE to buy ours. It would all be done via a solicitor. I am just worried it won't be worth the paper its written on if it all goes 'tits up'. We are then on the other side of the world dealing with a mess.

are we we desperate to go? hell yes! but not enough to make a stupid disscision..Have I answered my own question there

Caroline

Lots of people are having to rent out to get there. So I suppose looking on the brightside - you are putting tennants in who will eventually buy. I'm sure as long as everything is legal and double, triple checked etc. You also would need a time limit on the tennancy, eg if in 5 years time the market is fab and your tennants still aren't in a position to buy - then can you turf them out and put your house on the market.

AND how long will you hold your house at it's current asking price. I mean if 3 years down the line your house is worth an extra 20k are they going to pay this. As they will be recieving the market value for their 2 homes.....

Oh I'm making it worse again......... but its a mine field, hopefully a good laywer should be able to fix it though.
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Old Feb 25th 2010, 5:20 pm
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Default Re: who else can't sell house in Uk and has visa

I just want to say I feel for you, we are having to rent our house out & get a loan to come bk over, the only good thing about it is my sis is renting it of me!!!! the loan bit - I am not happy about, but needs must as they say. I sooooooo regret buying a house AGAIN. stupid stupid stupid me.

hopefully in a few yrs we`l sell & get our money back. we will see

Good Luck with it all.

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Old Feb 25th 2010, 5:22 pm
  #82  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by carolinejones3
Yes they would sign a legal document with the understanding they HAVE to buy ours. It would all be done via a solicitor.
I'm no legal expert but I don't think such a document is possible, and meanwhile if the market drops they won't want to pay your current price but if it goes up they won't pay more.

I had another thought too, if you go down this route make sure you get a big deposit.

Also, Lyx makes a great point, you're going from a position where you need one house to sell to one where you need two houses to sell, are their houses any more likely to sell quickly than yours?

Sorry but unless you want to rent for its own sake its not stacking up for me...
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Old Feb 25th 2010, 8:14 pm
  #83  
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Default Re: who else can't sell house in Uk and has visa

There's something very fishy about it and my gut feeling is things could easily go wrong. If you're happy with the idea of renting your house out as your primary purpose but with a chance that it'll be sold to the first tenants then go with that. Any agreements (rental and purchase) are probably best kept entirely separate and completely legally binding. Another thing that you need to consider is if the sale goes pear-shaped and the "tenants" move out would you - having settled in Australia by that time be able to easily find new tenants to replace them? You also might want to think about under what posible scenarios could the "tenants/would-be-buyers" get you over a barrel? Don't for one minute think that just because you are honest and decent that a sweet looking couple in their 50s will be. The fact that they initially attempted an unreasonable condition of purchase means that they are capable of more of the same. Good luck, and be very careful.
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Old Feb 26th 2010, 7:31 am
  #84  
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Default Re: who else can't sell house in Uk and has visa

AND how long will you hold your house at it's current asking price. I mean if 3 years down the line your house is worth an extra 20k are they going to pay this. As they will be recieving the market value for their 2 homes.....

.[/QUOTE]

i dont know much about this but i would say keep it seperate.
Rent is for renting the house with a deposit and then plus the market value at the time it is sold (maybe with a slight discount if they buy it maybe), as if they are renting would they be looking at you for replacing items if they are broken or faulty (central heating comes to mind)
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Old Feb 26th 2010, 9:27 am
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Default Re: who else can't sell house in Uk and has visa

Hi all,

Wanted to get in on this thread as I have to let it out somewhere.....(can't tell them at work yet and don't want to say it out loud and scare it away...)

We have a buyer on our house - woo hoo - only £1k off our minimum (they have a VERY healthy deposit and no chain!)

So for a quick exhange and we can then go buy our tickets and hand in notices (both wife and I are on 3 months )

All the best to those with offers and positive thoughts to those still on the market!
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Old Feb 26th 2010, 11:18 am
  #86  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by Griffangus
Hi all,

Wanted to get in on this thread as I have to let it out somewhere.....(can't tell them at work yet and don't want to say it out loud and scare it away...)

We have a buyer on our house - woo hoo - only £1k off our minimum (they have a VERY healthy deposit and no chain!)

So for a quick exhange and we can then go buy our tickets and hand in notices (both wife and I are on 3 months )

All the best to those with offers and positive thoughts to those still on the market!
Congrats - really positive news
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Old Feb 26th 2010, 12:05 pm
  #87  
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Default Re: who else can't sell house in Uk and has visa

Originally Posted by Griffangus
Hi all,

Wanted to get in on this thread as I have to let it out somewhere.....(can't tell them at work yet and don't want to say it out loud and scare it away...)

We have a buyer on our house - woo hoo - only £1k off our minimum (they have a VERY healthy deposit and no chain!)

So for a quick exhange and we can then go buy our tickets and hand in notices (both wife and I are on 3 months )

All the best to those with offers and positive thoughts to those still on the market!
Great news! Well done.
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Old Feb 26th 2010, 4:35 pm
  #88  
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Default Re: who else can't sell house in Uk and has visa

We've good news too - we completed on the cottage from hell today after 2 years of stress trying to sell it!!

To Caroline (and everyone else in the same boat) - if you're not comfortable with renting out your house, hang on in there if you can (and if you have time on your visa), all you need is one buyer to come along. We were beginning to despair of selling and we're not as well off as we'd hoped, but it finally happened. It's delayed us from doing what we want for a while, but reflecting on it now, what's a couple of years in the great scheme of things?

Very best of luck with it, whether you decide to go for the deal offered or hold out for an outright sale

Jenny
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Old Feb 26th 2010, 4:57 pm
  #89  
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Default Re: who else can't sell house in Uk and has visa

We've had our house up for sale for a year now and had no luck whatsoever, we have only had 4 viewings in a year. But now our biggest worry is the exchange rate. We were hoping to be mortgage free in Australia, but that dream has gone.

Congratulations to those of you who have sold your houses and good luck to those that are still waiting.
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Old Feb 26th 2010, 5:30 pm
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Default Re: who else can't sell house in Uk and has visa

Congratulations on the sales!

That we all achieve our dreams
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