Can't sell US house before visa expires
#1
Forum Regular
Thread Starter
Joined: Apr 2005
Location: Frederick, Maryland USA
Posts: 75
Can't sell US house before visa expires
Hi
Does anyone have experience of sellinga US house after they left the country we've had the house listed for 3 months now but are still not under contract. I leave with the boys on the 3rd and hubby flys out on the 13th so its unlikely we'll have sold before we go unless we sell to a property speculator at significantly less than the house is worth.
Just wondering what the implications are if we are no longer resident but still have US mortgage.
It will mean we are stuck at my parents in the UK as we can't afford to buy or rent without selling here, less than ideal as hubby will need to work US hours from home and they have a nice set up for 2 people of 1 generation rather than 6 people & 3 generations.
Will it cause tax problems anywhere? Will it take longer to sell empty? Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
Does anyone have experience of sellinga US house after they left the country we've had the house listed for 3 months now but are still not under contract. I leave with the boys on the 3rd and hubby flys out on the 13th so its unlikely we'll have sold before we go unless we sell to a property speculator at significantly less than the house is worth.
Just wondering what the implications are if we are no longer resident but still have US mortgage.
It will mean we are stuck at my parents in the UK as we can't afford to buy or rent without selling here, less than ideal as hubby will need to work US hours from home and they have a nice set up for 2 people of 1 generation rather than 6 people & 3 generations.
Will it cause tax problems anywhere? Will it take longer to sell empty? Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
#2
Re: Can't sell US house before visa expires
Originally Posted by welykuk
Hi
Does anyone have experience of sellinga US house after they left the country we've had the house listed for 3 months now but are still not under contract. I leave with the boys on the 3rd and hubby flys out on the 13th so its unlikely we'll have sold before we go unless we sell to a property speculator at significantly less than the house is worth.
Just wondering what the implications are if we are no longer resident but still have US mortgage.
It will mean we are stuck at my parents in the UK as we can't afford to buy or rent without selling here, less than ideal as hubby will need to work US hours from home and they have a nice set up for 2 people of 1 generation rather than 6 people & 3 generations.
Will it cause tax problems anywhere? Will it take longer to sell empty? Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
Does anyone have experience of sellinga US house after they left the country we've had the house listed for 3 months now but are still not under contract. I leave with the boys on the 3rd and hubby flys out on the 13th so its unlikely we'll have sold before we go unless we sell to a property speculator at significantly less than the house is worth.
Just wondering what the implications are if we are no longer resident but still have US mortgage.
It will mean we are stuck at my parents in the UK as we can't afford to buy or rent without selling here, less than ideal as hubby will need to work US hours from home and they have a nice set up for 2 people of 1 generation rather than 6 people & 3 generations.
Will it cause tax problems anywhere? Will it take longer to sell empty? Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
It should be easier to sell empty, because the house looks bigger and you are very flexible on closing dates.
Yes, get yard maintenance. Many buyers can not see past a disheveled, dusty, dirty house/garden. The yard is their first impression of the house - if the yard is overgrown, it spells "neglect".
#3
Joined: Feb 2002
Posts: 6,848
Re: Can't sell US house before visa expires
Originally Posted by welykuk
Hi
Does anyone have experience of sellinga US house after they left the country we've had the house listed for 3 months now but are still not under contract. I leave with the boys on the 3rd and hubby flys out on the 13th so its unlikely we'll have sold before we go unless we sell to a property speculator at significantly less than the house is worth.
Just wondering what the implications are if we are no longer resident but still have US mortgage.
It will mean we are stuck at my parents in the UK as we can't afford to buy or rent without selling here, less than ideal as hubby will need to work US hours from home and they have a nice set up for 2 people of 1 generation rather than 6 people & 3 generations.
Will it cause tax problems anywhere? Will it take longer to sell empty? Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
Does anyone have experience of sellinga US house after they left the country we've had the house listed for 3 months now but are still not under contract. I leave with the boys on the 3rd and hubby flys out on the 13th so its unlikely we'll have sold before we go unless we sell to a property speculator at significantly less than the house is worth.
Just wondering what the implications are if we are no longer resident but still have US mortgage.
It will mean we are stuck at my parents in the UK as we can't afford to buy or rent without selling here, less than ideal as hubby will need to work US hours from home and they have a nice set up for 2 people of 1 generation rather than 6 people & 3 generations.
Will it cause tax problems anywhere? Will it take longer to sell empty? Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
I guess you know all about 'staging' a house to sell....?
Also here are some tips here on how to present your home to appeal to buyers:
http://www.bbc.co.uk/homes/property/selling_index.shtml
One thing which I read in the New York Times property pages a few days ago (and you can find it online) is that one person trying to unsuccessfully sell his apartment told his agent that he would increase his commission by a further 1% if he sold it quickly...the agent actually did it by increasing the asking price of the property!!! Maybe your agent will work harder for you if you up the commission to 7% if he/she can find a buyer within say, three or four weeks? Are you locked into a contract with your agent? Who are the 'biggest' ones in your area....there are two realty companies in our town which seem to have the local market 'sewn up', maybe you a with one of the less successful realty companies?.
Also I think you need to have a realtor who works full-time....there are many in our local area whom just work part-time only (almost as if it's for 'pin money'). You need one who is going to pull out all the stops for you and get their arse into gear. Get on the phone and explain your situation.....ask about power of attorney if you've left the country before selling/closing on the property ....you might to get a notary public to witness your signatures etc. before you leave the US.
If I can think of anything more I'll post back.
One of my v.good English friends is leaving New Jersey this week to move to another expat post in Abu Dhabi. They've only been in the States for two years, sold the house in one week and got $90,000 over the asking price (despite the original 1940s kitchen units in the house). They close on Friday morning and fly off on Friday night. They had a particularly aggressive realtor.....
PS> Watch out for unscrupulous realtors who 'flip' a property...ie. buy it or get a friend to buy it and 'flip it over' for another sale quickly at a higher price than they paid for it. I hope your realtor isn't planning to do this, knowing that you are imminently leaving the country.
Last edited by Englishmum; Aug 24th 2005 at 3:50 pm.
#4
Forum Regular
Thread Starter
Joined: Apr 2005
Location: Frederick, Maryland USA
Posts: 75
Re: Can't sell US house before visa expires
Originally Posted by Englishmum
What is your realtor doing to help you sell your house? Have they told you why it hasn't sold yet....what is the market like in your area?
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#5
Joined: Feb 2004
Posts: 307
Re: Can't sell US house before visa expires
Originally Posted by welykuk
Hi
Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
Should we get a garden maintenance contract? Anything else I should think of or advice from others who've experienced something similar would be great. Thanks
Also, although we weren't moving back to the UK, we did have to give our realtor power of attorney since we were over a thousand miles away and couldn't be present for the closing.
Sending you lots of luck and hope your house sells soon.
#6
Lost in BE Cyberspace
Joined: Oct 2003
Posts: 22,105
Re: Can't sell US house before visa expires
Originally Posted by welykuk
We are not at all impressed with the realtor and there is some debate about whether we are contracted until today or the 24th September. I think we'll try another realtor. Biggest minuses on the house are dated feeling (wood panelling, couple of 70s carpets & 70s kitchen ) but in the time available there wasn't much we could change. The annoying thing is friends who bought a similar house at the same time as us have just got 2 contracts at an asking price of 50k more and ours appraised for the same as theirs 2 years ago so I'm depressed just now.
#7
Joined: Feb 2002
Posts: 6,848
Re: Can't sell US house before visa expires
Originally Posted by AmerLisa
Do you have extra money to spruce it up a bit? I know you're short of time, but perhaps hire a painter (panelling is bad!) and maybe some cheap carpeting, etc. Might help things. Also, if that can't be done, perhaps your a bit overpriced. Don't know the market you're in, or comparable houses, but if yours is a bit drab in comparison, that may be a problem....
What is the floor like underneath the 70s carpet? Is it wood and in good condition? It might be a good idea to get rid of the carpet and either replace it with cheap carpet in a neutral colour (beige/taupe) from the Home Depot or just have nicely polished wooden floors - again you could buy some cheap rugs from the Home Depot or Home Goods/T J Maxx/Marshalls.
#8
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Joined: Oct 2003
Posts: 22,105
Re: Can't sell US house before visa expires
Originally Posted by Englishmum
That's what I thought (I've seen too many House Doctor programmes LOL!).
What is the floor like underneath the 70s carpet? Is it wood and in good condition? It might be a good idea to get rid of the carpet and either replace it with cheap carpet in a neutral colour (beige/taupe) from the Home Depot or just have nicely polished wooden floors - again you could buy some cheap rugs from the Home Depot or Home Goods/T J Maxx/Marshalls.
What is the floor like underneath the 70s carpet? Is it wood and in good condition? It might be a good idea to get rid of the carpet and either replace it with cheap carpet in a neutral colour (beige/taupe) from the Home Depot or just have nicely polished wooden floors - again you could buy some cheap rugs from the Home Depot or Home Goods/T J Maxx/Marshalls.
#9
Homebody
Joined: Jan 2005
Location: HOME
Posts: 23,181
Re: Can't sell US house before visa expires
Originally Posted by Englishmum
That's what I thought (I've seen too many House Doctor programmes LOL!).
What is the floor like underneath the 70s carpet? Is it wood and in good condition? It might be a good idea to get rid of the carpet and either replace it with cheap carpet in a neutral colour (beige/taupe) from the Home Depot or just have nicely polished wooden floors - again you could buy some cheap rugs from the Home Depot or Home Goods/T J Maxx/Marshalls.
What is the floor like underneath the 70s carpet? Is it wood and in good condition? It might be a good idea to get rid of the carpet and either replace it with cheap carpet in a neutral colour (beige/taupe) from the Home Depot or just have nicely polished wooden floors - again you could buy some cheap rugs from the Home Depot or Home Goods/T J Maxx/Marshalls.
Have to agree - even if your short of time and/or money, sprucing up a 'tired' house is a must if you want to sell quickly. Chances are you'd lose more in the long run (mortgage payments, possible price reduction) than if you spend some $$$ now.
If memory serves me right, the House Doctor recommends (1) declutter, declutter + declutter some more, (2) complete any unfinished 'little jobs'/repairs, (3) clean, clean, clean, (4) neutral colours that do not offend anyone for walls and carpets (agree with Lisa on the panelling...), (5) some carefully chosen accents (mirrors, cushions, vases etc).
Oh, not forgetting kerb appeal: tidy front-yard, new lick of paint for the front-door, plus some plants in a nice pot by the door.
I know that this is probably the last thing you want to get involved in if you're about to leave the country, but if it results in a sale...
Good luck!