Guest vikkiann

£30,000

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    Guest vikkiann

    I think we are going to sell our house to one of these con artists who buy it at a fraction of what it's worth.

    When we first started planning to go to Australia we worked out that we would have £80,000 but now it will be between 30 & 40,000.

    Do you think £30,000 is enough?

    I am so frustrated, our house is the cheapest in our area, very good condition but nobody wants it. The estate agents have recommended dropping another £15,000 but now i just want rid of it.

    An activation trip is going to cost us in the region of £7000 so i'm thinking take that into account we'd be better off selling to one of these con artists and thats all i'm going to call them.

    Any advice would be greatly appreciated!

     

    Vikki

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    Hi Vikki

     

    A £40K - £50K drop is a hell of a lot of money, have you thought about raising capital through a remortgage and renting it out until you can get a buyer?

     

    Howard.

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    Guest vikkiann

    I have a friend who is a mortgage adviser and also a partner in an estate agents, his opinion is it will be 3 years for property to rise and I've had mortgage quotes but am uneasy about renting it because i wouldn't be able to cover the mortgage if we don't have a tenant. The rental would cover the mortgage but we would have almost no savings as everything is tied in our house. I'm starting to think we won't be able to go and feeling sorry for myself!

     

    Vikki

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    I have a friend who is a mortgage adviser and also a partner in an estate agents, his opinion is it will be 3 years for property to rise and I've had mortgage quotes but am uneasy about renting it because i wouldn't be able to cover the mortgage if we don't have a tenant. The rental would cover the mortgage but we would have almost no savings as everything is tied in our house. I'm starting to think we won't be able to go and feeling sorry for myself!

     

    Vikki

     

    Hi Vikki

     

    I own a Mortgage Brokerage and wouldn't dream of predicting when the market might pick up, as I don't have a crystal ball!

     

    As for not having a tenant in, Homelets: https://homeletuk.com/landlords.php?agentschemeno=1403796&origin=17&refNo=&fromAlpha=yes

     

    Offer an insurance policy that covers against not having a tenant in place.

     

    As I have said before, there is nothing to stop you renting the property out, whilst still keeping it on the market. You never know the tenants might end up wanting to buy it.

     

    Howard.

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    we looked into these companies and were appalled at how low the offers would be. £30k would be doeable definetly. It depends alot on how quickly you can get jobs, what your standard of living is, what you buy ie cars, large plasmas etc lol .

     

    If your careful you will have enough for a house deposit too. We came with less than this and are doing ok, 2 months on but we are now both working, though to be honest longer hours and our bills are no cheaper, and have been relatively careful with money. But the place is beautiful and the sun is nice when it comes out . dont forget though that you need to pay for flights and shipping out of that so thats around 6-7k gone maybe more, and you will need to budget for accomodation when you get here before you find a rental, but we did it and people do it on alot less. It means for us that we are basically starting again but we are young enough to do this i guess.

     

    To be honest though if i were in that position i would remortgage and rent your house out x

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    vikki we were in same position as you and have rented out our house to cover mortgage costs we leave for adelaide next wednesday with alot less money than hoped for, but i have a job to go to and we will just have to put more effort into getting started out there. if you wait too long you may not go out there at all good luck with all your plans sue billy and boys landing in adelaide 5th sept living in travellers inn hostel for two weeks hope to find rental by then:idea:

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    Guest graandjac

    :err:There are people who have come out here with less than £10,000 and have given and are still giving it a bloody good shot, money might help but its not be all and end all, its what you do with what you have . Cheers Graham

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    Vikki,

    Your friend is in business so he's giving you advice in the hope that you'll use his business. There are no friends in business so go get another opinion.

     

    Howard is on the button with his advice.

    There is more chance of you renting than selling at this time.

    Go join upmystreet.co.uk and find out the truth about what is being sold around you and for how much.

    WHy is your house the cheapest in the area? Is there anything you can do to change that?

    Coukd it be that you put the house on the market at the wrong price and the £15k drop reflects that? Check up my street like I say.

     

    Rent your house out fully furnished, as Howard says get an insurance on renting and look at profesional people like coppers.firemen/docts, the ones that wont be out of a job as quick as others might be.

    I believe there is a rental co who deal only with top earning professionals...medics on the move they are called I think.

     

    My brother and his family migrated to sydney with nothing but clothes and started a new life from scratch. The only thing they really left beihind were the things of senimental value, 25 years on they regret that now but you have to cut your cloth at some stage.

    Chin up, be positive and go for it girl, oherwise you will regret it...trust me I know :-)

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    Vikki,

    Your friend is in business so he's giving you advice in the hope that you'll use his business. There are no friends in business so go get another opinion.

     

    Howard is on the button with his advice.

    There is more chance of you renting than selling at this time.

    Go join upmystreet.co.uk and find out the truth about what is being sold around you and for how much.

    WHy is your house the cheapest in the area? Is there anything you can do to change that?

    Coukd it be that you put the house on the market at the wrong price and the £15k drop reflects that? Check up my street like I say.

     

    Rent your house out fully furnished, as Howard says get an insurance on renting and look at profesional people like coppers.firemen/docts, the ones that wont be out of a job as quick as others might be.

    I believe there is a rental co who deal only with top earning professionals...medics on the move they are called I think.

     

    My brother and his family migrated to sydney with nothing but clothes and started a new life from scratch. The only thing they really left beihind were the things of senimental value, 25 years on they regret that now but you have to cut your cloth at some stage.

    Chin up, be positive and go for it girl, oherwise you will regret it...trust me I know :-)

     

    Thanks for your positive comments thearmchairdetective.

     

    Vikki,

     

    The site that we use and many banks and surveyors use to obtain an AVM (automated valuation model) is this : http://www.hometrack.co.uk/

     

    This site will give you an acurate idea of how much your house is worth.

     

    Good luck and if you need any further advice please PM me.

     

    Howard.

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    Vikki,

    Your friend is in business so he's giving you advice in the hope that you'll use his business. There are no friends in business so go get another opinion.

     

    Howard is on the button with his advice.

    There is more chance of you renting than selling at this time.

    Go join upmystreet.co.uk and find out the truth about what is being sold around you and for how much.

    WHy is your house the cheapest in the area? Is there anything you can do to change that?

    Coukd it be that you put the house on the market at the wrong price and the £15k drop reflects that? Check up my street like I say.

     

    Rent your house out fully furnished, as Howard says get an insurance on renting and look at profesional people like coppers.firemen/docts, the ones that wont be out of a job as quick as others might be.

    I believe there is a rental co who deal only with top earning professionals...medics on the move they are called I think.

     

    My brother and his family migrated to sydney with nothing but clothes and started a new life from scratch. The only thing they really left beihind were the things of senimental value, 25 years on they regret that now but you have to cut your cloth at some stage.

    Chin up, be positive and go for it girl, oherwise you will regret it...trust me I know :-)

     

     

    Hi, why do you advise fully furnished? can you only get the protective insurance if it is fully furnished?

     

    thanks

     

    Carole

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    Hi, why do you advise fully furnished? can you only get the protective insurance if it is fully furnished?

     

    thanks

     

    Carole

     

     

    No it's not that.

    It is easier to remove a tenant from furnished property.

     

    I stand to be corrected on this from someone in the business.

     

    Also, you have to make sure that the lease is only for 6 months then get them to re-sign.

    ie, i rent for 12 months but the tenancy is for 6 renewable for 6.

    THis is done because longer term leases give the tenant more rights than you in removing them should you want to. Or so I am told by my daughter who rents out a flat.

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    ok, thanks. Strange one that because our agent seems to be pushing us into unfurnished rent rather than furnished, he seems to think more tennants prefer unfurnished, but as you say, if you have more rights, then this is a big plus point.

     

    Carole

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    ok, thanks. Strange one that because our agent seems to be pushing us into unfurnished rent rather than furnished, he seems to think more tennants prefer unfurnished, but as you say, if you have more rights, then this is a big plus point.

     

    Carole

     

    Go get some prper legal advice before you do any business with that Agent.

     

    Who is to say I'm right though.

    Give these guys a ring or e-mail

    http://www.medicsonthemove.co.uk/index.asp

    I am NOT associated with them but ny neighbour rents his house out through them and they seem to get wealthy clients who sign l o n g leases.

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    Guest vikkiann

    Thank you for your reply.

    I've been up to London today to get my passport stamped so i'm very excited!

    I'm going to be doing some investigating on hometrack.

     

    Vikki

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