DevMountain

We applied for our pr visa's early oct 2002 under ACS (rpl) skilled independant. By looking at the timeline we are in for quite a wait...
Given the uncertainty of the housing market do we sell now and go into rented or risk our collateral.
How long does it take for rejection letters to come through if you do not pass the initial processing stage. (not including medicals etc...)
Any feed back would be most welcome...
The estate agents are coming in force tomorrow!!!

scoobydooathome

Hi,

It's a tough one, we too have just put ours on the market, but if we have a buyer we will move out straight away, cash in as they say,shhhhhh keep it quite, you never know things may be speeding up a bit now with Adelaide ... and now for the next joke !!

Just dont spend your millions when you have sold,

best of luck,

CROSSY

Hi there, we are in the same boat! except we are just sorting our application with our agent now, but we've had valuations done and figure a bird in the hand etc so we're selling and renting now.
We think we will lose out if we dont unload now. If we get refused we go to plan B....know any good plan Bs!!!!!
Crossy n co

DevMountain

Well we have decided to hold off until March....
They are processing our application at the mo so hopefully we might have an idea about medicals and additional info by then.
As for plan B, France was our's, but i remembered how much i hated French lessons.

Maybe Scotland?

Mike & karen

Hi
We have been in termoil over this issue.

We put our house on the market in November and sold it in a week, the buyers have been waitng to complete the sale since then. We have now decided to complete on the 31 January. Its an absolute nightmare.

We were ask to go for medicals early October and sent them at the end of October but we are still waiting for the final out come.

I think it is a calculated risk, but thats life.

If it all falls through I think I will be heading to the divorce courts!!!!

Mike & Karen

pott

Hi,

We had our medicals yesterday and plan to put the house on the market in the next two weeks. That is as far as our plans go at the moment. Its a hard one to decide.

Pott.

Andy

Hi

We have just had our pre grant letter and we have decided to sell up as soon
as we can get the house fixed up. It's a difficult one, but several things
swung it for us. Firstly, selling a house is a hassle, but even more of a
hassle if you do it at some point after you've moved. Likelihood is you
would have to come back to do it. The market is a bit uncertain here. I
don't think prices are going to crash, but they are still climbing in Oz, so
if you want to get more for your money it makes sense to be in a position to
buy as soon as possible, which for us means having the capital from our
house here. Also, if you are going to rent out your house, unless you know
someone who can handle the arrangements for you, it means getting a
mangement company to deal with it, and I've heard they can be a nightmare.

The only argument I can think of for renting rather than selling is that if
it all goes pear shaped you've got somewhere to come back to. But as someone
said to me, you could argue that you're not comitting to it 100% if you're
already giving yourself a way out! Hope this helps.

Andy

"DevMountain" wrote in message
news:[email protected]...
    > We applied for our pr visa's early oct 2002 under ACS (rpl) skilled
    > independant. By looking at the timeline we are in for quite a wait...
    > Given the uncertainty of the housing market do we sell now and go into
    > rented or risk our collateral.
    > How long does it take for rejection letters to come through if you do
    > not pass the initial processing stage. (not including medicals etc...)
    > Any feed back would be most welcome...
    > The estate agents are coming in force tomorrow!!!
    > --
    > Posted via http://britishexpats.com

MaggieLou

Hi, we applied under skilled independant in feb 2002,(2124-11) although things are moving sloooooowwwwwlllyyyy, we did not and have not sold yet, all due to the fact that our house has gone up over 80k in that time, Should we not be accepted (I will have a breakdown in that case) then we would not be able to re-afford to buy in the area we currently live. So until almost final we will not put the house up for sale, however, we have done all the nitty gritty jobs (ie decoration etc) "just in case"
And the plan is if need be hubbie will go on ahead while I sell. and follow with the kids.
We plan to rent for a min of 12 months, just so that we are sure that we are in the right area for hubbies job etc., before we purchase in Oz.
I know its a mine field, but dont put all your eggs in one basket
maggielou

DevMountain

We have also thought about this but we want to move out of the area anyway. I also can't see the house prices rising much more.
Our other main concern is that my Hubbie will be earning much less in Auz which would make it impossible to pay the mortgage back here!

MaggieLou

It may be worth speaking to a mortgage advisor on this as there are many ways around juggling house equity etc,- even postponing mortgage payments or reducing them.

Although hubbie may not earn as much in Oz the cost of living is a lot lower - also if he is on his own he can rent a room etc which will be cheap, until the whole family get together.

Houses are not long on the market. We have sold all of our houses within the first day, one within 3 hours. So my advise is don't panic or rush check all avenues. The more you make this end the more you can enjoy it at the other.............
Good luck

r.bartlett

hi guy's

well we put our house on the market and we haven't even applied!!

however we sold and had two buyers within a week..great news we thought we're flying..

however one fell through and the others in a long chain..

spoke to our estate agent about present amrket and he said -lots of people out looking ,lots of housing coming onto the market but actual sales are 50% down on this time last year...

so selling is a gamble -but so is holding on ...

cheers

richard

Neil

My contribution.....

Fisrt to Dev. The housing market is always uncertain. Who knows what
is around the corner, shares are still struggling(they could struggle
more if Iraq get picked on) so maybe people will keep ploughing their
money into property. Prices are still flying up on the South Coast, I
dont know about up north.

Secondly to Andy, The arguement for renting as a place to return to
is a very valid one. Dont burn your bridges! If you plan it well,
the financial return if you dont remortgage too heavily is that the
income from rent could more than pay for a mortgage or rent for your
home in Australia/NZ. On the other hand if you think the house prices
are going to crash as so many people so smugly declare, then its a bad
idea to keep the property as you would easily be able to get back onto
the property ladder as prices will be so low.

I think its too complex an issue to really resolve as everyones
circumstances are different such as age, having kids or dependants,
amount of collateral, family commitments, how well you cope with
stress, if you are money motivated and the list goes on. If you could
predict that the house prices are definately going to crash then we
would all sell but where would we all live and who would buy if we are
all selling. Dont panic, just do what you are most comfortable with.

As Richard said selling is a gamble but so is holding on.

I'm the opposite to all of you, I think there is at least another 12
months of substantial property rises ahead of us due to the state of
our economy and high level of employment. Due to that I have decided
to buy a more expensive property to make a fast buck before I emigrate
and if I dont then I will definately rent as people have to live
somewhere. Its all very well arguing that the rental market will be
swamped with available rental property but the people who sold those
properies will be the ones renting them to the benefit of the new
Landlords.

If you are worried about the "Crash" then sell, if you arent then
buy(like me) or hold out. Certainly if you want to take all your
money then selling would seem the obvious choice provided you have
taken professional finacial advice on how to do so. Selling early
would certainly be wise too in that case so as to avoid hold ups that
can occur in house purchases due to time wasters, collapsed buyer
chains or even problems brought to light by a property survey.

Lets come back in 2 years time and see what happened. Pehaps the
Iraqis will win the war and we will all be bowing to Saddam.

scoobydooathome

Good post,

Thing is, people are generally saying,

'you've had the cash now wait for the crash'

That does not sound very good to me, see the Tonight programme next week ...

If we sold today, I would be packing boxes tonight

Cheers,

Pip

We are in the position where my Husband has had his NZ visa since September
but we can't move because our house STILL hasn't sold yet. We have dropped
it by several thousand pounds and no takers yet (4 months later). In
hindsight I wished we had tried to sell it earlier, but really you should
check with an estate agent and see how quickly houses of your type in your
area are selling.

Good luck
Pip

r.bartlett

spoke to our estate agent again today (another buyer is now in the frame);-)
after a brief chat about the above he said totally unprompted

"the markets' looking very very dodgy"...

neil you are the bravest of the brave !!

cheers

richard