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Hi All

 

So, i have had my house on the market for some 4 months now.  We have had viewings, but no offers.  The estate agent (i htink) had overvalued the house and as a result i think we missed the optimum selling window. 

 

We were convinced to reduce the price (by 5K) which we have - and we have had even less viewings!  and still no offers....

 

i cannot afford the mortgage, and my ex husband is causing me all sorts of issues ( I NEED TO MOVE!), so what Id like to know is this... if i rent the property, can i leave it on the market to sell?  what is the minimum term that i can rent it out for? 

 

ive been told its a minumum of 6 months and then i can market it, that means the house would have been on the market nearly a year!  believe me its not a special house, its just a 3 bed semi in the Midlands!

 

 

can someone please please give me some advice....

 

im coming off my cracker...

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I'd say it's a bad time to sell right now.  The Brexit uncertainty has all  but killed off the market.  

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You can rent it out short term and if in a good location even AirB&B.

My experience is that it's best to rent short term to builders working in the area.

They pay and move out without a fight. 

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Someone correct me if I'm wrong, but I believe you'll likely need the mortgage providers permission to rent the house out as well. 

It's also possible that this will result in the type of mortgage you have changing which may result in an increase in the mortgage payments.

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Spring is the best time to sell a house, brexit wont make the slightest difference unless you live in Fulham. If you can survive the time from now until it actually completes then I would think that having it on the marker before the easter rush will work to your advantage so give your current agent the boot and list it again in a month's time

Dump the current agents and start again but check on previously sold prices in your area before agreeing a marketing price.

I placed my last house with an agent who didnt tell me I couild get a million quid for it but marketed it at a realisitc level. I got 12 offers and sold for £20k over asking price.

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On 11/03/2019 at 14:18, Feelingdownandout said:

 if i rent the property, can i leave it on the market to sell?  what is the minimum term that i can rent it out for?

 

If you are thinking of renting the entire house and living elsewhere, removing the tenants when the property is sold could end up being an expensive and drawn out affair involving courts & bailiffs. Also, many potential purchasers would be put off knowing tenants are in place, and it would certainly reduce the value of any offers.

 

Remaining in the house and taking in a lodger would ease your cash flow, would not impact on property value, and the lodger can be removed with as little as 24 hours notice.


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