Selling a House

Discussion in 'Finance, Property, Law' started by escape_to_the_USA, Feb 22, 2006.

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  1. I am in process of preparing to be posted overseas. For a numebr of reason (that I will not bore you with) I about to put my house on the market. Having not sold a house before what are the likely pitfalls and costs. I am looking for a fairly quick sale as I am posted mid July. Please advise away...I have not lived in the place for serveral years and it has been until recently let. I am not interested in renting it whilst I am overseas...
     
  2. Be careful when choosing your estate agent, as a good one will make selling your house a relatively painless process, while a poor one will make the experience a prolonged and frustrating headache.
    Shop around a bit as rates vary.
    Ask friends and colleagues for reccomendations.
    Make sure the agent has a pro-active plan to market the property, rather than just sticking up a for sale sign, hoping to get lucky, and picking up an easy percentage.
     
  3. in_the_cheapseats

    in_the_cheapseats LE Moderator

    How long are you going to the US for? Although the market (rental and sales) has been reasonably quiet for the last year or so, it is picking up again.

    If you are planning to come back soon (in the next couple of years), it might be better hanging on to it, taking a short term hit by paying the morgage yourself and getting rental in due course. The cost of selling now and then buying in an upswing market on your return could mean that the money that you will release to invest now by selling (and therefore get a return from) will provide you less income than you have at the moment. Remember investing in the stock market etc draws additional costs too and the best return will come from longer time exposure.

    Personnally I would not be keen to jump out of the uk housing market completely at the mo. Best bet is to get hold of a IFA and chat it through, letting them do the sums to see how you would be best off financially in the long term.
     
  4. ITCS - Thanks, the house is miles from my current location and likely location on my return, it becoming a hassle, I don't have tenants as of Mar and it is not ideal suited to letting it took 8 months last time. I just don't need to hassle. I am state side for 2 years. It is a risk, with the housing market anything can happen; but a vacant property is huge admin burden and risk in itself.
     
  5. You could have a look at

    www.availablehouse.com

    its an interactive advertising portal for all kinds of property (holiday, commercial, student, residential etc) Its free to advertise currently, so you have nothing to loose either way