My house still hasn't sold...any advice?
Nov 1st 2005, 8:17 am
#1
Forum Regular
Thread Starter
Joined: Jan 2005
Location: Kitsilano, Vancouver
Posts: 214
My house still hasn't sold...any advice?
My VISA expires in February and I don't know what to do. I have dropped my house price to £155,000 (average valuation £175,000) and the estate agents all recommend not dropping the price further. My options seem to be as below:
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Cons
and this is big) delay my complete change of lifestyle indefinitely
(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Cons
and this is big) delay my complete change of lifestyle indefinitely(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
Nov 1st 2005, 8:42 am
#2
Ambiroadious
Joined: Oct 2005
Location: Scotland till March 06, then the Okanagan
Posts: 216
Re: My house still hasn't sold...any advice?
Having just sold a house in the UK in 3 weeks with only 6 viewings and in a location that is not everyone's first choice (edge of a tiny village without even 1 shop; farmer's fields front and rear; but reasonable commute distance to Edinburgh or Glasgow and good motorway access.), I would have to ask first, WHY has it not sold.
1. How long have you had it on the market?
2. What reason are you being given by your estate agent for it not selling?
If it is valued at £175,000 and they tell you that is a realistic valuation, it should sell for that amount. UNLESS something keeps buyers from seeing that it is worth that amount.
No offense but having watch numerous episodes of the House Doctor you can probably imagine what kind of pictures are going through my head. If the house is not well presented, expecting the buyers to see past things to the potential of a house is a waste of time. They won't.
It may be that you are simply being to impatient. The market has slowed down. Where in the past houses were being snapped up in a couple of weeks, houses in our area are now taking 2-3 months to sell. Our sale in 3 weeks surprised our agent.
My advice would be to get your agent to quiz the viewers you have had (how many have you had?) as to why they did not want to make an offer. They are the only people that can tell you why it REALLY isn't selling.
The only one of your options I would personally consider is the land and return to sell option.
1. How long have you had it on the market?
2. What reason are you being given by your estate agent for it not selling?
If it is valued at £175,000 and they tell you that is a realistic valuation, it should sell for that amount. UNLESS something keeps buyers from seeing that it is worth that amount.
No offense but having watch numerous episodes of the House Doctor you can probably imagine what kind of pictures are going through my head. If the house is not well presented, expecting the buyers to see past things to the potential of a house is a waste of time. They won't.
It may be that you are simply being to impatient. The market has slowed down. Where in the past houses were being snapped up in a couple of weeks, houses in our area are now taking 2-3 months to sell. Our sale in 3 weeks surprised our agent.
My advice would be to get your agent to quiz the viewers you have had (how many have you had?) as to why they did not want to make an offer. They are the only people that can tell you why it REALLY isn't selling.
The only one of your options I would personally consider is the land and return to sell option.
Last edited by WorldWeary; Nov 1st 2005 at 8:45 am. Reason: Addition
Nov 1st 2005, 8:44 am
#3
Forum Regular
Joined: Oct 2005
Location: bristol
Posts: 128
Re: My house still hasn't sold...any advice?
Hi
Are other houses in the area selling? or is everything slow. If other houses are selling it may possibly need neutralising. Paint the walls white declutter add plants ect.... or if all your furniture is shipped put some furniture in. How is the paint work, gutters and garden. people are very visual and dont like the thoughts of doing lots of work unless they get it cheap. Go onto rightmove and search your area, you can usually see the inside of houses in your area and compare.
Has your agent got your house on the internet?
Good luck and I hope you sell.
Debbie
Are other houses in the area selling? or is everything slow. If other houses are selling it may possibly need neutralising. Paint the walls white declutter add plants ect.... or if all your furniture is shipped put some furniture in. How is the paint work, gutters and garden. people are very visual and dont like the thoughts of doing lots of work unless they get it cheap. Go onto rightmove and search your area, you can usually see the inside of houses in your area and compare.
Has your agent got your house on the internet?
Good luck and I hope you sell.
Debbie
Originally Posted by allie2
My VISA expires in February and I don't know what to do. Ihave dropped my house price to £155,000 (average valuation £175,000) and the estate agents all recommend not dropping the price further. My options seem to be as below:
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Consand this is big) delay my complete change of lifestyle indefinitely
(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Cons
and this is big) delay my complete change of lifestyle indefinitely(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
Nov 1st 2005, 9:03 am
#4
Here and happy at last
Joined: Oct 2003
Location: Vancouver Island
Posts: 784
Re: My house still hasn't sold...any advice?
It really depends how much you want to move to Canada.
I would not drop the price that defeats the object.
Releasing the equity to get you landed and renting out for 6 months lease at a time would be my option. The longer you stay the longer you are paying the mortgage.
You cannot get a job in Canada unless you move there really. Your house will sell eventually. Try renting with a real estate agent who sell and rent. This way they will know how the market is going. Then as the 6 months comes to an end he can look out for prospective buyers. They also might have people on their books that want to rent with the option to buy when lease is up. QUite often they are in a simialr position to you and have to move because of a job change and also cannot sell their house but would buy as soon as theirs sold.
Also ask the agent why it isnt selling, is it the market, time of year, or could you do anything to "dress" the house for selling. If he is a good agent he will tell you. If you watch any of the home improvement programmes you can be surprised just how little you can do to improve selling potential.
Also is the agent doing enough? is he marketing ir properly, if not change agetns, dont use a sole agent, you may pay a bit more commission, but may get a higher price.
One agent visited us would have putit in the market for £10,000 below what we sold it for and he was the owner of the agency. We asked around, and looked at the area, to see which houses sold and for what. We looked to see who's for sale boards we saw the most and called them in.
If you go to this website you can see the prices of simiar property in your area the first few searches are free, but may help to see what others have sold for when and where
http://www.ourproperty.co.uk
further
I would not drop the price that defeats the object.
Releasing the equity to get you landed and renting out for 6 months lease at a time would be my option. The longer you stay the longer you are paying the mortgage.
You cannot get a job in Canada unless you move there really. Your house will sell eventually. Try renting with a real estate agent who sell and rent. This way they will know how the market is going. Then as the 6 months comes to an end he can look out for prospective buyers. They also might have people on their books that want to rent with the option to buy when lease is up. QUite often they are in a simialr position to you and have to move because of a job change and also cannot sell their house but would buy as soon as theirs sold.
Also ask the agent why it isnt selling, is it the market, time of year, or could you do anything to "dress" the house for selling. If he is a good agent he will tell you. If you watch any of the home improvement programmes you can be surprised just how little you can do to improve selling potential.
Also is the agent doing enough? is he marketing ir properly, if not change agetns, dont use a sole agent, you may pay a bit more commission, but may get a higher price.
One agent visited us would have putit in the market for £10,000 below what we sold it for and he was the owner of the agency. We asked around, and looked at the area, to see which houses sold and for what. We looked to see who's for sale boards we saw the most and called them in.
If you go to this website you can see the prices of simiar property in your area the first few searches are free, but may help to see what others have sold for when and where
http://www.ourproperty.co.uk
further
Originally Posted by allie2
My VISA expires in February and I don't know what to do. I have dropped my house price to £155,000 (average valuation £175,000) and the estate agents all recommend not dropping the price further. My options seem to be as below:
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Consand this is big) delay my complete change of lifestyle indefinitely
(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Cons
and this is big) delay my complete change of lifestyle indefinitely(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
Nov 1st 2005, 2:46 pm
#5
Part Time Poster
Joined: Jan 2004
Location: Worcestershire
Posts: 4,219
Re: My house still hasn't sold...any advice?
Excuse my ignorance?
But don't you have the option to land, fill in all the paper work, and then return to the Uk for up to 2 years max...
Granted knowing the Candain goverenment it may take a few weeks to sort out all the landing details,
But correct me if I'm wrong but you only need to be in canada 3 out of every 5 years to mainatin PR?
This would in theory then give you more time to sell up
But don't you have the option to land, fill in all the paper work, and then return to the Uk for up to 2 years max...
Granted knowing the Candain goverenment it may take a few weeks to sort out all the landing details,
But correct me if I'm wrong but you only need to be in canada 3 out of every 5 years to mainatin PR?
This would in theory then give you more time to sell up
Nov 1st 2005, 4:48 pm
#6
Lost in BE Cyberspace
Joined: Sep 2004
Location: Windsor, ON; Chicago, IL
Posts: 6,713
Re: My house still hasn't sold...any advice?
Land and leave. I see your sig says "family class" - if you're accompanying your Canadian citizen spouse/common-law partner/parent, each day outside Canada counts as if you were there...(for PR purposes, not towards your own citizenship). (isn't that right, Andy 
)
Don't panic about eating into your 2 out of 5yrs permitted absent time, you won't.
)Don't panic about eating into your 2 out of 5yrs permitted absent time, you won't.
Nov 1st 2005, 5:36 pm
#7
Class 1 Driver and Nurse
Joined: Feb 2005
Location: Kentville, N.S.
Posts: 1,498
Re: My house still hasn't sold...any advice?
Originally Posted by Biiiiink
Land and leave. I see your sig says "family class" - if you're accompanying your Canadian citizen spouse/common-law partner/parent, each day outside Canada counts as if you were there
Don't panic about eating into your 2 out of 5yrs permitted absent time, you won't.
Don't panic about eating into your 2 out of 5yrs permitted absent time, you won't.
)A very reliable, well informed source told me it was, someone i would bet my house on so yes Biiiiink, that is correct
Nov 1st 2005, 11:04 pm
#8
Forum Regular
Thread Starter
Joined: Jan 2005
Location: Kitsilano, Vancouver
Posts: 214
Re: My house still hasn't sold...any advice?
Thanks guys...
re landing and coming back, I have to think how much is my quality of life worth? I have been waiting so long for this - what if its another year that I am waiting? You know, I wish I had never told anyone as the opening question in most conversations is either 'When are you moving?' or 'Have you sold your house yet?', though, lately, its been 'Did you change your mind about Canada?'
re watching house doctor programmes....my house has been up for sale since April so I really really have done absolutely everything - there wasn't much to do but now I have no family photos up, the bookshelves are in the garage, etc, etc. The house looks like a show home when viewers come round....though that's not often. And yes I have changed estate agents and have a mulitple agency contract. And I've had an 'expert' in to recommend changes to make it more saleable, I have done everything they suggested. I am now paying £60 a month for storage...it was only supposed to be short term.
Latest idea from my estate agent is to quadruple my house advert size and offer a £10,000 discount for completion by Christmas....
re landing and coming back, I have to think how much is my quality of life worth? I have been waiting so long for this - what if its another year that I am waiting? You know, I wish I had never told anyone as the opening question in most conversations is either 'When are you moving?' or 'Have you sold your house yet?', though, lately, its been 'Did you change your mind about Canada?'
re watching house doctor programmes....my house has been up for sale since April so I really really have done absolutely everything - there wasn't much to do but now I have no family photos up, the bookshelves are in the garage, etc, etc. The house looks like a show home when viewers come round....though that's not often. And yes I have changed estate agents and have a mulitple agency contract. And I've had an 'expert' in to recommend changes to make it more saleable, I have done everything they suggested. I am now paying £60 a month for storage...it was only supposed to be short term.
Latest idea from my estate agent is to quadruple my house advert size and offer a £10,000 discount for completion by Christmas....
Nov 2nd 2005, 1:06 am
#9
BE Enthusiast
Joined: Jan 2005
Location: Calgary
Posts: 605
Re: My house still hasn't sold...any advice?
Originally Posted by MikeUK
Excuse my ignorance?
But don't you have the option to land, fill in all the paper work, and then return to the Uk for up to 2 years max...
Granted knowing the Candain goverenment it may take a few weeks to sort out all the landing details,
But correct me if I'm wrong but you only need to be in canada 3 out of every 5 years to mainatin PR?
But don't you have the option to land, fill in all the paper work, and then return to the Uk for up to 2 years max...
Granted knowing the Candain goverenment it may take a few weeks to sort out all the landing details,
But correct me if I'm wrong but you only need to be in canada 3 out of every 5 years to mainatin PR?
As the OP is a family class sponsorship, the 2 out of 5 year thing doesn't apply (accompanying relative etc)
Nov 2nd 2005, 10:17 am
#10
BE Enthusiast
Joined: Apr 2005
Location: Ottawa, ON
Posts: 404
Re: My house still hasn't sold...any advice?
Originally Posted by allie2
My VISA expires in February and I don't know what to do. I have dropped my house price to £155,000 (average valuation £175,000) and the estate agents all recommend not dropping the price further. My options seem to be as below:
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Consand this is big) delay my complete change of lifestyle indefinitely
(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
(a) land, list my goods to follow and come back. Pros: it won't cost me too much Cons
and this is big) delay my complete change of lifestyle indefinitely(b) rent it out and keep it up for sale. Pros: it will pay the mortage Cons: I need the equity to move and change careers; they may damage the house/not pay the rent/make it unsalable
(c) release £10,000 from the equity, rent it out, hope they don't damage it, keep it up for sale. Pros: I can move and my mortage would be covered; Cons: no career change and the house may be unsaleable
(d) release £10,000 from the equity, rent it out, hope they don't damage it. Put it up for sale again when the housing market will buy anything in any condition. Pros: I can move; Cons: Have to permanently rent in Canada.
(e) sell to one of these companies that will buy the house for a pittance and profit out of my situation. Pros: I can move and have the career change with no chance of them backing out; Cons: I can't afford to buy where I wanted to buy
(f) drop the price to £140,000. Pros: it might sell quickly; Cons: it might not and then option (e) will reduce their offer accordingly
Any advice or ideas?
My two cents worth - sell it before you leave the UK. Don't rent it. As we didn't sell we are waiting three months to see how good our luck is and then we will bite the bullet and go for your option (e).
Last edited by Snave; Nov 2nd 2005 at 10:20 am.
Nov 2nd 2005, 11:40 am
#11
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Joined: Apr 2005
Location: Saskatoon, Saskatchewan
Posts: 4,104
Re: My house still hasn't sold...any advice?
houses in our area are now taking 2-3 months to sell.
Well, kind of: it's 'sold' three times in that year, but never completed.
Nov 2nd 2005, 6:13 pm
#12
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Thread Starter
Joined: Jan 2005
Location: Kitsilano, Vancouver
Posts: 214
Re: My house still hasn't sold...any advice?
Originally Posted by Snave
We're in a similar boat. We rented our house in South Wales when we left, the tenants were full of praise for the house, and told us that when we wanted to sell they would buy. So they rented it for six months, and when it was getting close to the end of their lease we got a valuation - for £195,000. The tenants then told us that they could only afford £120,000 - which was way less than what we paid for it three years earlier, and we've done £15,000 worth of improvements. So this week they left and it's now on the market for sale. I will admit to being worried - the mortgage is £700 a month, which I can't cover from Canada so it's eating into my overdraft. The house is standing empty (and the tenants reportedly even took the curtains, nets and poles) and to me, all the way out here, I feel it is vulnerable. I wish we'd sold it in the last couple of months we were in the UK - instead of believing they would buy it when we were ready. They obviously planned on making a fast buck on us being remote.
My two cents worth - sell it before you leave the UK. Don't rent it. As we didn't sell we are waiting three months to see how good our luck is and then we will bite the bullet and go for your option (e).
My two cents worth - sell it before you leave the UK. Don't rent it. As we didn't sell we are waiting three months to see how good our luck is and then we will bite the bullet and go for your option (e).
Nov 2nd 2005, 9:04 pm
#13
Guinness is good for you.
Joined: Aug 2003
Location: Kamloops
Posts: 694
Re: My house still hasn't sold...any advice?
MAke sure on landing that they look at the photo for the PR card. If it is picked up at the time of landing they can re-do the photo there an then, if not it causes further complications. In my case I was allowed to have it re-done and send it in but I have heard of people having to go to a set place to have it re-done.
May not be an issue but worth checking.
May not be an issue but worth checking.
Originally Posted by CalgaryBlade
The paperwork takes about 20 minutes. Immigration Canada will send the PR card to a specified address in Canada. If the PR leaves Canada before receiving the card, then they can have it mailed to them whereever.
As the OP is a family class sponsorship, the 2 out of 5 year thing doesn't apply (accompanying relative etc)
As the OP is a family class sponsorship, the 2 out of 5 year thing doesn't apply (accompanying relative etc)
Nov 3rd 2005, 3:46 am
#14
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Joined: Sep 2004
Location: Cochrane Alberta
Posts: 909
Re: My house still hasn't sold...any advice?
It's awful to read that you are having problems selling....and i can understand the need to sell quickly and come to Canada...But realistically, Canada will be here for some time, and you may regret selling at way under the market value...If it was me, I'd stay until it is sold, and you get what you want for it....we gambled about 2 years ago, sold and bought over here...and looking back it was the best thing we did...One thing I can guarantee though, it will be a lot harder to sell your house if it is empty and you've shipped all your furniture...Hang in there the right buyer will come along. After all you bought it.
Anyway good luck guys.
Anyway good luck guys.
Nov 3rd 2005, 8:04 am
#15
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Thread Starter
Joined: Jan 2005
Location: Kitsilano, Vancouver
Posts: 214
Re: My house still hasn't sold...any advice?
Cheers Frankie - I'm glad it has worked out for you - I remember you got your Visa about a week after I did!