Can someone please give me hope that houses are actually selling and that someone might buy ours!!. After getting our Visas in Apr this year we thought we might be in Calgary for Christmas but we are still waiting, we are either thinking of renting or paying a visit to activate our Visas and coming back again, I don't like any of these choices but we are running out of options, we have already dropped our house price by £20,000 and can't afford to go any lower. Anyone else as frustrated as we are?

I can't offer any help but out of curiosity whereabouts in Norfolk are you?

I can imagine your frustration,unfortunately many people are in your
position.I suppose it comes down to money.Can you support yourselves over in Canada if you dont sell? Even then are you prepared to handle all the problems that comes with managing a rent from so far away.
I'd land first,come back and do everything you can to sell.Go house to house handing out leaflets,internet (how we just sold our house) I heard someone went to arrivals at Heathrow and stood there for days holding a huge picture of his house hoping he would attract a buyer or renter from abroad.
Good luck.

Small village just down the road from the metropolis that is King's Lynn!!!!!

Do you know it?

No, probably not. I grew up in North Suffolk/South Norfolk so my knowledge of Norfolk mainly around the Broads & South of Norwich.

we had same problem house not seeling so we have decided to rent it out. And we are moving to Edmonton in January.

Are you close enough to Lakenheath to rent the house out to the 'mercans?

My Mum used to live in a small village just outside Kings Lynn

Hi there,

Just wanted to sympathise (sp) with you as I was in the same situation as you.

House didn't sell, so I have rented it out. I have a managing agent as I wasn't prepared, or wanted to manage it from abroad. Fingers crossed I've not heard anything so assume all is OK????

As has been said, it is all down to money. I was able to make the move on my own with minimal funds, and thankfully got a job withing 2 weeks of looking. Things have got worse with the job opportunities however, but that could be the time of year too.

Good Luck to you guys.

Bx

We too are in the same situation re house sale, so we've decided to rent out and have tenants lined up (they are renting with a view to buying )
We've not got our pr visas yet - still awaiting copy of transcripts from OHs college diploma for 60-day letter (they don't have records going back to the Jurassic age when my OH graduated )
We've set a date to go (March 2009) and are just applying for jobs and keeping fingers crossed that everything will go okay )

Good luck with your plans - whatever you decide to do.

KatieMoon

I can certainly sympathize with you and frustrated would be the understatement of the year in our case. We bought our house at the market high and later because of our business at the time, had to borrow against it. As prices have dropped we are now just about in negative equity. We cannot lower our house price any more. We called Bank of Scotland who has our mortgage and told them we wanted to lease the house as my husband is now working in Calgary etc. etc. (Letting agents require a consent to lease letter) Fine they said, we will send you the forms, no problem. We got the forms this Saturday only to find out they will not allow us to do that unless we bring our equity up to 15% and to please send the big fat cheque!!! Well, that is not going to happen, its impossible. My OH got up at 4:00 am yesterday to call them but they couldn't care less. That is their policy and they will not change it. We are well and truly stuck. Can't sell, can't lease. My husband is over there and I am over here and it looks like that is how it is going to stay. If anyone has any ideas I would love to hear them!

So sorry to hear this, there are lots of us trying to sell but hope to make some money ?
Not ideal and i am not saying to do this,
Some friends have walked away and returned there keys for repossession,

They have payed up to date explained they can no longer afford the mortgage and despite having a meeting with the building society explaining this ( they offered them no help ) they felt they had to walk away,
They have left the house payed all the bills to date and are now renting., not sure what the consequences will be other than they won't get another mortgage here for a while ?

Hi,

We are currently trying to sell our house too and are relying on the funds for our move, we have dropped by £30,000 since it went on the market in September to try and get a quick sale, so far it seems to be working, we went from no viewings to 4 in 2 weeks and another booked for wednesday, with a second looker coming back as well. We have dropped to the bare minimum for the money we think we need to go, after getting our shiny visas and having to put them in a draw and wait, it's frustrating.

Not sure about handing keys back, seems a bit drastic, it all depends on your financial situation and if you need the money from the house to move or not.

Are you in a position to swap to a mortgage provider without the 15% equity requirement to let the property out? Or are you tied in for a period?

D&A

We considered that but unfortunately I own a fourth of my mothers house and on her death I will own half. I know that sounds good but my sister who will own the other half (and lives there) will not sell because she wants to leave it to the grandchildren nor does she have the money to buy me out. My mother is 94, in a home and not in the best of health so to be realistic I could own that in the not too distant future. If we were to go the repossession route, they could force a sale under those conditions and my sister would be on the street and not very happy with me I am sure! Basically it is an asset I can't use and is becoming a millstone around my neck.

Are you in a position to swap to a mortgage provider without the 15% equity requirement to let the property out? Or are you tied in for a period?

As mentioned before, we are almost in negative equity so I don't think anyone in todays climate will give us a mortgage plus we have prepayment penalties.

From what I have read lately, for people that do go the repossession route, it can be a very costly affair. Banks are now putting repossessed properties up for auction to move them more quickly but that means they get a very low price for them. Lower than if they had sold normally. They don't care about that because guess who they then go after for the shortfall, plus all costs and interest? They will get their money one way or the other and they will do it the easiest and quickest way for them. It always amazes me though that they do that because if most people had that kind of money they would still be paying their mortgage!

We just want to be together in Canada and make a fresh start. We are not concerned now about getting any money out of this house as we know we can't. To be out from under the debt would be fantastic and we would then look at this whole episode as if we had been renting a very nice house for the past three years!

Can you sign your half of the house to your sisters name or someone else you trust? This would then give you the chance to just leave the house behind without your sister losing her home?

Don't know what else to suggest, this whole house price situation has come at a bad time for all people who's visas have come through recently

D&A