Any one has problem selling their house?
 

We are waiting for medicals and can't wait to immigrate to vancouver. The only problem is we can't sell our house and this makes us a bit unhappy. What should we do if we can't sell it? Any thoughts please?!:frown:

Re: Any one has problem selling their house?
 

ha ha ha.......(nervous, histerical laughter):blink:

we're in exactly the same boat......but were here in vancouver......

i got the house in the UK alarmed to the hilt, insured to within an inch of it's life and just moved over.......

it will eventually sell (we have a potential buyer as i type......3rd time lucky)......then we'll have some money to buy a house here......

just do it, is my advice.....costs nothing more than money, right.......:ohmy:

Re: Any one has problem selling their house?
 

Hello
Which Insurer did you use.....
Thanks

Re: Any one has problem selling their house?
 

Sorry if I sound stupid but what do you mean that you insured the house?
Also I heard that If we let the house and move we have to pay second home tax when we sell because it wouldn't be our residential home. Is that correct? :confused:

By the way gibsonslanding how is living in beautiful Vancouver? Please tell me about it!

Re: Any one has problem selling their house?
 

I think you are in the same boat as a lot of others regarding the house sale.Ours took around 8 months to sell and we were in the process of maybe letting it out, and then a buyer came in thankfully.
The market is definitely beginning to move again, but you have to have a realistic price in mind as it's a buyers market and they've lots to choose from.
It only takes one person:fingerscrossed::fingerscrossed:

Good luck

Re: Any one has problem selling their house?
 

Many thanks for your encouraging words. Ihave my fingers crossed.:(

Re: Any one has problem selling their house?
 

Hi Heidi,

I come from a property related background and the best thing you can do is make sure it's light, airy and keep as clean, clear and tidy as you can!!! Also be prepared to accept a realistic offer. The market is starting to pick up at the moment and the mortgage lenders seem to be starting to lend again.:)

Good luck! I'll be in the same boat shortly :ohmy: so fingers crossed for you!


Biiba x

Re: Any one has problem selling their house?
 

Hi Biiba Many thanks for your reply. We have a viewing on Monday lets have all our fingers crossed?!!!:fingerscrossed::fingerscrossed::finger scrossed:

Re: Any one has problem selling their house?
 

Fingers and toes crossed for you! lol :)

Re: Any one has problem selling their house?
 

I read it as it's mysteriously going to catch fire, but insured to the maximum possible. But i'm probably wrong.

Re: Any one has problem selling their house?
 

I had my medical and got my visa in about 6 weeks. My house didnt sell and 9 months later still hasnt so i am renting it out for now. Lots of people have had to do that.

Good luck

Re: Any one has problem selling their house?
 

hi

we used a company called premium insurance which is actually part of hsbc.....

just to clarify a couple of points.....if your house is empty (which ours is) and is obviously not being occupied, then it is really, nearly impossible to find a company that will insure it......it's not regarded as a 'rental or a holiday home' so the risk is high to the insurers for potential problems......it cost us £481 to insure and that was after being quoted over £1k's from other companies....it really paid me to shop around.....under 'normal' house insurance, it's not a problem to insure your house as an 'unoccupied house', usually most companies will give you 30 days for it to be un-occupied.......with our house being empty and un-occupied, very few wanted to insure us......

Re: Any one has problem selling their house?
 

you only have to pay tax (and i'm assuming that you are refering to capital gains tax)? on a second property as the 2nd property is not your principal home, to which you do not pay any tax.......in other words, if you sell your house in the UK and buy a house in canada, then no tax is payable.......if you have a house in the uk and a house in canada and you sell either of them, then you are liable to pay tax on the 2nd home........unless you are a politician in the uk of course, to which you are excempt from ever paying any tax and hell, why you're at it, cliam for someone to clean your pool on the 2nd/3rd etc property!!!!!!!!!!!

ps.....having a wonderful time in vancouver, thanks.......absolutley love it.....

Re: Any one has problem selling their house?
 

Thanks :thumbsup:

Re: Any one has problem selling their house?
 

I asked a similer question a while ago and got this answer which explained the canadian CGT system isn't as straight forward as I thought.

"as far as Canadian tax law goes you have to live in your property at some point in the year before you can designate it as your principal residence. So, if you moved from the UK to Canada in February 2009 and moved back to the UK in November 2010 then you are in the clear. If you stay in Canada till 2011 then your UK home cannot be your principal residence in 2010 (which makes sense - a UK house cannot be your principal residence if you are living in Canada).

In this example you could be liable for tax on any capital gain that occurred in 2010.

If you rent your UK house to a tenant at a fair market rent then you can make an election that the UK house is deemed to be your principal residence for a further 4 years (and this can be extended in some circumstances)."

Seems a bit unfair if your renting in Canada and your Uk house is still your only property..but I'm looking into it