Waiting to GO?!!
Mar 23rd 2009, 4:15 am
#1
Just Joined
Thread Starter
Joined: Jul 2007
Location: St Austell, Cornwall
Posts: 28
Waiting to GO?!!
Anybody here now have their PR but still in the UK waiting to sell their house?
We 'landed' in Sept 08 in Calgary and spent a very interesting and informative vacation there before we had to return to the UK and pick up the threads of our old life. We subsequently obtained our PR Cards and planned a new and exciting life in Canada.
However just at the point when we had finally navigated our way through the immigration process, the UK (and indeed the rest of the world) decided that it was 'credit crunch' time!! We have put our house on the market, but with not even a sniff of a prospective buyer, we are now on a 'holding pattern'. We are lucky in that we have/had? a decent amount of equity in the property, however we can do no more than watch now as that equity is slowly eroded over the course of time.
We now have three choices, wait it out on the chance that the housing market may start to recover, reduce the price and sell at next to nothing and/or just go to Canada with no equity, on the hope of renting out our house in the UK, to sell at some future point when the market has recovered?
I am a little angry about the whole situation however I am not sure who I should direct my anger at?!
I would like to offer my sympathy to anyone else out there who may be in a similar situation and although I know its no consolation you are not alone!!
Fingers Crossed??!!:curse:
We 'landed' in Sept 08 in Calgary and spent a very interesting and informative vacation there before we had to return to the UK and pick up the threads of our old life. We subsequently obtained our PR Cards and planned a new and exciting life in Canada.
However just at the point when we had finally navigated our way through the immigration process, the UK (and indeed the rest of the world) decided that it was 'credit crunch' time!! We have put our house on the market, but with not even a sniff of a prospective buyer, we are now on a 'holding pattern'. We are lucky in that we have/had? a decent amount of equity in the property, however we can do no more than watch now as that equity is slowly eroded over the course of time.
We now have three choices, wait it out on the chance that the housing market may start to recover, reduce the price and sell at next to nothing and/or just go to Canada with no equity, on the hope of renting out our house in the UK, to sell at some future point when the market has recovered?
I am a little angry about the whole situation however I am not sure who I should direct my anger at?!
I would like to offer my sympathy to anyone else out there who may be in a similar situation and although I know its no consolation you are not alone!!
Fingers Crossed??!!:curse:
Mar 23rd 2009, 4:58 am
#2
Logical & Hot Stuff
Joined: Nov 2007
Location: Ontario's Armpit
Posts: 19,815
Re: Waiting to GO?!!
You have my sympathy corn2can, we're in the same if not a worse situation. We landed in Dec, got our shinny visa's stamped. Our house has been on the market since last March, so a year....we've had a few viewing but nothing at all for about 5 months. Then a month ago, our neighbours heating oil tank leaked and it's gone into the foundations of our house. We've had engineers out to survey the damage and stick an extractor fan into the founds...the day they came, our estate agent called to say we had a viewing 
Seriously, you couldn't make it up! We now need to move out for, 6/8 months minimum...into rented accommodation until the work can be done. So it looks like we're stuck here for at least another year. It's pants but at least your not alone in all this....
Seriously, you couldn't make it up! We now need to move out for, 6/8 months minimum...into rented accommodation until the work can be done. So it looks like we're stuck here for at least another year. It's pants but at least your not alone in all this....
Mar 23rd 2009, 5:06 am
#3
Best Place on Earth- LMAO
Joined: Dec 2004
Location: BC
Posts: 572
Re: Waiting to GO?!!
Personally I wouldn't recommend coming here with no equity and no job (if you have no job offer). You could end up depleting your financial reserves even more.
Mar 23rd 2009, 5:36 am
#4
Forum Regular
Joined: Nov 2007
Posts: 115
Re: Waiting to GO?!!
Were in a similar situation. We went over to get PR and SIN last year July 2008 with the house on sale since Feb 2008. We're now in the spring of 2009 and still no closer to selling the house despite reducing it substantially.
It's annoying because we had 2 bids on the house when we put it on the market but they withdrew due to them being unable to sell there's. It went down hill after that with not a sniff of a sale.
We are slowly running out of time before the PR expires so we need to act now ! We're now looking into renting off the house using the money to help pay off the outstanding mortgage whilst the market is so bad with the prospect of selling it when (hopefully) things improve. We don't even know if anyone wants to rent our house yet either ! or how long this will take ?
The problem is, we were relying on the house sale to help us start up over there (Vancouver) but as this is not going to happen, we are having to go over using whatever savings we have to try and live in the interim until we find jobs ! JOBS ! That's another risk. Along with the 'Credit Crunch' comes the job cuts and lay-offs. If we can't find jobs, we're really in the s**t. We can only afford to live a few months before our savings will run out. If this happens, we'll be forced to come back to the UK withh no jobs in a recession and a mortgage still to be paid.
But maybe I'm thinking too much ahead !
I'm angry and frustrated too. It couldn't have come at a worse time. It's scary but what do you do in this climate ? We're not the first and no doubt there's many more of us in this situation. I just hope we're doing the right thing. Anyone else been through this or done what we've done ? Would be good to share experiences and advice.
It's annoying because we had 2 bids on the house when we put it on the market but they withdrew due to them being unable to sell there's. It went down hill after that with not a sniff of a sale.
We are slowly running out of time before the PR expires so we need to act now ! We're now looking into renting off the house using the money to help pay off the outstanding mortgage whilst the market is so bad with the prospect of selling it when (hopefully) things improve. We don't even know if anyone wants to rent our house yet either ! or how long this will take ?
The problem is, we were relying on the house sale to help us start up over there (Vancouver) but as this is not going to happen, we are having to go over using whatever savings we have to try and live in the interim until we find jobs ! JOBS ! That's another risk. Along with the 'Credit Crunch' comes the job cuts and lay-offs. If we can't find jobs, we're really in the s**t. We can only afford to live a few months before our savings will run out. If this happens, we'll be forced to come back to the UK withh no jobs in a recession and a mortgage still to be paid.
But maybe I'm thinking too much ahead !I'm angry and frustrated too. It couldn't have come at a worse time. It's scary but what do you do in this climate ? We're not the first and no doubt there's many more of us in this situation. I just hope we're doing the right thing. Anyone else been through this or done what we've done ? Would be good to share experiences and advice.
Mar 23rd 2009, 6:22 am
#5
BE Enthusiast
Joined: Jan 2009
Posts: 720
Re: Waiting to GO?!!
Were in a similar situation. We went over to get PR and SIN last year July 2008 with the house on sale since Feb 2008. We're now in the spring of 2009 and still no closer to selling the house despite reducing it substantially.
It's annoying because we had 2 bids on the house when we put it on the market but they withdrew due to them being unable to sell there's. It went down hill after that with not a sniff of a sale.
We are slowly running out of time before the PR expires so we need to act now ! We're now looking into renting off the house using the money to help pay off the outstanding mortgage whilst the market is so bad with the prospect of selling it when (hopefully) things improve. We don't even know if anyone wants to rent our house yet either ! or how long this will take ?
The problem is, we were relying on the house sale to help us start up over there (Vancouver) but as this is not going to happen, we are having to go over using whatever savings we have to try and live in the interim until we find jobs ! JOBS ! That's another risk. Along with the 'Credit Crunch' comes the job cuts and lay-offs. If we can't find jobs, we're really in the s**t. We can only afford to live a few months before our savings will run out. If this happens, we'll be forced to come back to the UK withh no jobs in a recession and a mortgage still to be paid. But maybe I'm thinking too much ahead !
I'm angry and frustrated too. It couldn't have come at a worse time. It's scary but what do you do in this climate ? We're not the first and no doubt there's many more of us in this situation. I just hope we're doing the right thing. Anyone else been through this or done what we've done ? Would be good to share experiences and advice.
It's annoying because we had 2 bids on the house when we put it on the market but they withdrew due to them being unable to sell there's. It went down hill after that with not a sniff of a sale.
We are slowly running out of time before the PR expires so we need to act now ! We're now looking into renting off the house using the money to help pay off the outstanding mortgage whilst the market is so bad with the prospect of selling it when (hopefully) things improve. We don't even know if anyone wants to rent our house yet either ! or how long this will take ?
The problem is, we were relying on the house sale to help us start up over there (Vancouver) but as this is not going to happen, we are having to go over using whatever savings we have to try and live in the interim until we find jobs ! JOBS ! That's another risk. Along with the 'Credit Crunch' comes the job cuts and lay-offs. If we can't find jobs, we're really in the s**t. We can only afford to live a few months before our savings will run out. If this happens, we'll be forced to come back to the UK withh no jobs in a recession and a mortgage still to be paid.
But maybe I'm thinking too much ahead !I'm angry and frustrated too. It couldn't have come at a worse time. It's scary but what do you do in this climate ? We're not the first and no doubt there's many more of us in this situation. I just hope we're doing the right thing. Anyone else been through this or done what we've done ? Would be good to share experiences and advice.
Are you still working in the UK? if so I would stay there - you will spend your savings alarmingly quickly trying to set up in another country.
Try to rent your house now, if it rents you can cover the moirtgage, but what happens in 6 months when the tenant moves out and you dont get another for a year? will you be able to cover the mortgage and pay rent wherever you are?
Maybe you should look at other areas of canada, with better job prospects, or cheaper cost of living
I'm afraid your timing is bad, you cant help that, but you need to adjust your plans accordingly rather than plod on regardless and ending up bankrupt!
Fortunately we sold our house a few years ago and then moved into a rented house before we started the PR paperwork, which looking back was an inspired move - I would recommend that newcomers to the process liquidate their assets as soon as they can - dont wait til the visa comes,
theres nothing to be gained in being angry btw! it will just cloud your view, frustration is understandable however.
Last edited by snowshoveller; Mar 23rd 2009 at 6:24 am.
Mar 23rd 2009, 6:55 am
#6
Forum Regular
Joined: Apr 2006
Posts: 83
Re: Waiting to GO?!!
Anybody here now have their PR but still in the UK waiting to sell their house?
We 'landed' in Sept 08 in Calgary and spent a very interesting and informative vacation there before we had to return to the UK and pick up the threads of our old life. We subsequently obtained our PR Cards and planned a new and exciting life in Canada.
However just at the point when we had finally navigated our way through the immigration process, the UK (and indeed the rest of the world) decided that it was 'credit crunch' time!! We have put our house on the market, but with not even a sniff of a prospective buyer, we are now on a 'holding pattern'. We are lucky in that we have/had? a decent amount of equity in the property, however we can do no more than watch now as that equity is slowly eroded over the course of time.
We now have three choices, wait it out on the chance that the housing market may start to recover, reduce the price and sell at next to nothing and/or just go to Canada with no equity, on the hope of renting out our house in the UK, to sell at some future point when the market has recovered?
I am a little angry about the whole situation however I am not sure who I should direct my anger at?!
I would like to offer my sympathy to anyone else out there who may be in a similar situation and although I know its no consolation you are not alone!!
Fingers Crossed??!!:curse:
We 'landed' in Sept 08 in Calgary and spent a very interesting and informative vacation there before we had to return to the UK and pick up the threads of our old life. We subsequently obtained our PR Cards and planned a new and exciting life in Canada.
However just at the point when we had finally navigated our way through the immigration process, the UK (and indeed the rest of the world) decided that it was 'credit crunch' time!! We have put our house on the market, but with not even a sniff of a prospective buyer, we are now on a 'holding pattern'. We are lucky in that we have/had? a decent amount of equity in the property, however we can do no more than watch now as that equity is slowly eroded over the course of time.
We now have three choices, wait it out on the chance that the housing market may start to recover, reduce the price and sell at next to nothing and/or just go to Canada with no equity, on the hope of renting out our house in the UK, to sell at some future point when the market has recovered?
I am a little angry about the whole situation however I am not sure who I should direct my anger at?!
I would like to offer my sympathy to anyone else out there who may be in a similar situation and although I know its no consolation you are not alone!!
Fingers Crossed??!!:curse:
omg that is my laugh of hysteria we are alos in the situation panic, depression and madness now set in and youre right you do feel like you are the only one.well we have bitten the bullet and are goin no matter what we will be broke and i am not thinking how we will manage but are keeping house on market at reasonable price fingers and everything crossed, givin up job, no idea how we will cover a mortgage if we dont sell or rent but we ve come this far spent a fortune in airfare, removal fee and pets flights that i am not giving up now!!!
after all think what is the worst that can happen?
how long do you want to wait around?
and i bet you have talked yourself in and out of a million situations i know i have
i think you need to remind yourself how much you want to go and why remember what the impportant things are and go for it.
slightly unrealistic attitude maybe but materialistic stuff not worth it, all the ciches in place - if it meant to be etc etc
and most important it only money lmao lol who needs that much when its about how happy, settled and content you are thats my biggest driver
good luck though and it ll happen just real bad timin if i dont laugh i may never get from under my duvet againnow in panic mode of list s of goods to follow etc etc
Mar 23rd 2009, 7:25 am
#7
Forum Regular
Joined: Nov 2008
Location: Inverurie
Posts: 32
Re: Waiting to GO?!!
Us too- same situation- house not sold after being on the market for 6 monthes. We have our PR cards, job and house to go to in NS and we are just going to go. We are going to think positive and let life move on. We can only hope that our Scottish house will sell.....soon!! The stagnant not doing anything attitude was driving us crazy and we felt that for our sanity we had to go.
Our children are at a stage in their education where they can move. If we wait, they will not be able to go.
Hysteria, panic, depression, excitement .....it is all there but I must say - since we have decided to go, we feel our life is no longer in limbo and that we are doing something, Who is to say what is the right or wrong thing to do?
It is great to know that there are so many others out there in the same position. Our empathy goes to you all also. We may as well laugh (hysterically) together about the situation!
Our children are at a stage in their education where they can move. If we wait, they will not be able to go.
Hysteria, panic, depression, excitement .....it is all there but I must say - since we have decided to go, we feel our life is no longer in limbo and that we are doing something, Who is to say what is the right or wrong thing to do?
It is great to know that there are so many others out there in the same position. Our empathy goes to you all also. We may as well laugh (hysterically) together about the situation!
Mar 23rd 2009, 8:27 am
#8
Forum Regular
Joined: Jul 2008
Location: Richmond, BC
Posts: 191
Re: Waiting to GO?!!
We're in the same boat too... frustrated!! Our PR expires in July - we put our house on the market last August... had 2 offers back then but both buyers pulled out due to the climate - both thought they would wait and see how much we would drop the price - regardless to say we too are starting to see the equity in our house dwindle down and there is nothing we can do... :curse:
We are seeing what happens by the end of this month and then we will have to 'land' and come back... its a nightmare - having waited 3 years for the visa and now a recession hits - if only we had that crystal ball we would have sold ages ago!!
But hey ho this is life and we have to be positive and hope that we will finally get to our dream! Good luck to all in the same boat...
We are seeing what happens by the end of this month and then we will have to 'land' and come back... its a nightmare - having waited 3 years for the visa and now a recession hits - if only we had that crystal ball we would have sold ages ago!!
But hey ho this is life and we have to be positive and hope that we will finally get to our dream! Good luck to all in the same boat...
Mar 23rd 2009, 9:27 pm
#9
Just Joined
Thread Starter
Joined: Jul 2007
Location: St Austell, Cornwall
Posts: 28
Re: Waiting to GO?!!
Thanks for all the reply's, maybe we should start a support group??!!
Not suprised that so many people are in the same situation as us, and although it is no consolation some people sound as if they are in a worse situation?
Even though we feel screwed by circumstance we are still determined to get to Canada as we have invested so much in this process, not only in terms of money (which was a struggle at times) but also in time and emotion.
We realistically have until Aug/Sept 2010 to make the move permanently before we will no longer be able to meet the requirements of the permanent residents visa, we would like to be there by this time next year at the latest but we may have to bite the bullet. Whats another 12 months on a journey that started in 2005? (when we originally started to gather information for the application)
Until the worlds bankers get their fingers out their a**es and start lending money to people again we will just have to ride it out.
Once again Fingers Crossed!!
Not suprised that so many people are in the same situation as us, and although it is no consolation some people sound as if they are in a worse situation?
Even though we feel screwed by circumstance we are still determined to get to Canada as we have invested so much in this process, not only in terms of money (which was a struggle at times) but also in time and emotion.
We realistically have until Aug/Sept 2010 to make the move permanently before we will no longer be able to meet the requirements of the permanent residents visa, we would like to be there by this time next year at the latest but we may have to bite the bullet. Whats another 12 months on a journey that started in 2005? (when we originally started to gather information for the application)
Until the worlds bankers get their fingers out their a**es and start lending money to people again we will just have to ride it out.
Once again Fingers Crossed!!
Mar 23rd 2009, 9:41 pm
#10
Forum Regular
Joined: Mar 2008
Posts: 225
Re: Waiting to GO?!!
Wow...so many in the same position! 
Its certainly major decision time for most of you, myself included. My house is 25k below its value and we do have an interested party but they havent even put their house on the market! It sure is a nightmare, s'pose it all depends how much equity you each have in your houses and how much your pride will let you give away. As long as I get a fairly quick sale and have something to take over with me I dont care if I lose quite a bit of equity and someone gets themselves a real bargain. The rental route is not an option for us.......if we rent ours here then we have to rent over there and trust me in a year the UK housing market will either still be the same or may even drop slightly. It is going to be several years before any kind of reasonable upward turn evolves! Unfortunately were the unlucky ones that timed our move wrongly, what with the housing recession and the $ to £ boy did we choose a wrong time. Still, we all have that same dream drive and determination and thats what made Britain Great! (once).
Its certainly major decision time for most of you, myself included. My house is 25k below its value and we do have an interested party but they havent even put their house on the market! It sure is a nightmare, s'pose it all depends how much equity you each have in your houses and how much your pride will let you give away. As long as I get a fairly quick sale and have something to take over with me I dont care if I lose quite a bit of equity and someone gets themselves a real bargain. The rental route is not an option for us.......if we rent ours here then we have to rent over there and trust me in a year the UK housing market will either still be the same or may even drop slightly. It is going to be several years before any kind of reasonable upward turn evolves! Unfortunately were the unlucky ones that timed our move wrongly, what with the housing recession and the $ to £ boy did we choose a wrong time. Still, we all have that same dream drive and determination and thats what made Britain Great! (once).
Mar 24th 2009, 12:34 am
#11
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Joined: Jan 2009
Posts: 720
Re: Waiting to GO?!!
The rental route is not an option for us.......if we rent ours here then we have to rent over there and trust me in a year the UK housing market will either still be the same or may even drop slightly. It is going to be several years before any kind of reasonable upward turn evolves!
there was a report in macleans (a canadian news mag) predicting that it will take 7-10 years for canadian house prices to recover to their 2008 prices
I woulldnt be in a rush to buy if i were you. The uk market has been in decline for 3 years already (depending on locality) and so is likely to hit bottom and start to rise again before canada.
Also renting for a while allows you to find out where you need to be
Mar 24th 2009, 1:03 am
#12
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Joined: Jan 2005
Posts: 308
Re: Waiting to GO?!!
My house is 25k below its value and we do have an interested party but they havent even put their house on the market!
If its 25K below its value then its value is 25K less!!
If its 25K below its value then its value is 25K less!!
Mar 24th 2009, 1:07 am
#13
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Joined: Jan 2005
Posts: 308
Re: Waiting to GO?!!
Sorry to be blunt but there's no point hanging on to the past. Houses are worth what someone will pay for them - obviously!
Mar 24th 2009, 1:40 am
#14
Forum Regular
Joined: Mar 2008
Posts: 225
Re: Waiting to GO?!!
If its is valued at say £150,000 and allowing a sale at £125,000 then it is £25,000 below its value!...simple maths.
