JB0591

Hi

I am looking for advice or experience on selling our UK house from Canada. We have it rented out at the moment but need to sell it.

Any advice or lessons learnt most welcomed.

Cheers

JB0591

BristolUK

I named my mum as power of attorney before I came over and she did it for me.

el_richo

We just sold one of our London apartments. We arranged for the estate agent to sell it, had the tenants make it accessible and provide spare access. We gave the tenants an incentive of course.

We then called a solicitor after offer acceptance and that's that. Don't need power of attorney. It's dead easy.

All documents can be emailed, signed, and scanned for return + send hard copies by post.

Now we sit and wait for closing.

TrishP

Dead easy, John - can tell you when I see you this weekend.

Geordie Lass

We chose a letting agent that will also act as an estate agent when the time comes to sell.

How is the UK market doing at the mo? It needs to pick up a lot before we will sell ours

Aviator

1. Instructed agent
2. Agent showed it
3. Faxed offers back and forth
4. Agreed price by phone
5. Lawyer did paperwork by fax
6. Got money

BristolUK

Sure, you don't need POA.

But no thoughts of where's the fax machine? (not everyone has ready access to one) Nobody to liaise with. No consults with agents or solicitors. No having to fit with time differences/business hours for any phone conversations. No thinking will it go today? No having to sort anything out if there's an issue or anything unforeseen arising.

JB0591

Thanks for the responses so far....

@TrishP - See you Sunday :-)

@Geordie Lass - We have a letting agent who has just gone back into sales, not been too impressed with the letting side so thinking twice about selling via them, although if we do we would probably have a tenant in the property till last moment.

With regards to POA we had considered that but that is part of why I started this thread.

So I know that there is possible Canadian taxation on the difference of the house price from date we took up residency to date of sale but how do we prove original price? I realise there will be a "you should have.." response :-)

rivingtonpike

We sold our house remotely without a hitch. There would be tax payable if the value of your house was greater than its value when you "landed" in Canada for good. Equally, if it is worth less, I think I'm right in saying you can offset the amount against your tax return here in Canada.

Johnboy should be able to clarify.

el_richo

Fax machines? You can find one in the 1990's and earlier

You can liaise with the estate agent yourself

You can consult with agents and solicitors yourself

Time difference doesn't really impact anything. Just make designated times to speak between and/or use email. I face timed with my estate agent quite easily.

Having a POA doesn't have anything to do with thinking will it go today.

If anything needs sorting in addition, the world is a very small and accessible place these days.

There's no need for a POA unless youre a Luddite or techtard

el_richo

We had valuations just before we left. The one we just sold went for less than that figure so we should be able to offset it in some way I think.

We had the estate agents manage the rental for us too so it's very simple. The tenants will move out the day contracts are finalized so as to maximize income. Made life much less stressful.

MillieF

Is this with regard to the letting agent (I have horror stories about that bunch) or the tenant? When I sold my house in London last year my tenants bought it and that worked out fine...bit of to and froing over the price, but it worked out fine. I too did all the paperwork from a distance and just scanned my signature. Same as for Canada. Very best of luck!

JB0591

Yeah the letting agent is just not responsive and does not keep us informed of this like rent not being paid...

BristolUK

Sure. But I didn't have to get to a supermarket or wherever to get a fax to respond to.

Of course. But I didn't have to.

Of course. But I didn't have to.

Of course. But I didn't have to.

The person with POA was aware of the viewing schedule. I didn't have to think about it.

Of course. But I didn't have to access things.


See, the advantage of me not having to do these things was that I had more time to deal with family stuff like the wife and kids with health matters and school issues; researching where best to live and how to bring that about; what was the best way to achieve a manageable income; the immigration application and complications resulting from CIC error; the purchase of our house; the research on rental properties and studying the tenancy regulations.....

It was quite handy being able to do that much more easily thanks to Power of Attorney.

el_richo

They still use fax? Crazy. My printer/scanner/copier was very cheap and is perfect for doing that in my living room.




I prefer to be involved personally when my money is on the line. Plus you still have to liaise with your POA so just cut out the middle man.




I prefer to be involved personally when my money is on the line. Plus you still have to liaise with your POA so just cut out the middle man.




I prefer to be involved personally when my money is on the line. Plus you still have to liaise with your POA so just cut out the middle man.




I prefer to be involved personally when my money is on the line. Plus you still have to liaise with your POA so just cut out the middle man. I'm not sure i understand how a POA knowing the schedule of viewings or not can have any impact anyway?




You would have to agree with the POA before they spend your money anyway so what's the difference?



But we're talking about selling while already having done all of that so it's moot.

To each his own i guess. In this day and age, i just don't see the need in having one.