selling or renting my home moving to perth need some help

[bwatt99]

Looking for some info,advise,help,info anything you can add.

 

Im finally moving to perth after having had my visa for 4+ yrs expires in august,flights booked for end of may,I just been so busy with other issues,working away etc i not been able to put the house on market.

As its so close to may i think it might not be worth trying to sell,im in scotland and jut for starters i have no idea where to start in selling a house,purchased mine 20yrs ago now and just never experience selling,and im sure the ways of selling has changed many times over them years.

 

I was looking or hoping to sell my house before we went,but feel if would be wasting my time trying if it did not sell then it would be empty while living in oz,which then i would need to keep up with payment.

I may have a neighbour who might want it but not sure yet have not asked yet,if so then maybe problem solved they said that before i put it on market to let them know first,this was several years ago they asked this.

So if they said they was what would i do?i have no idea what the place is worth and i take a solicitor at some point would need to be involved to complete the sell etc.

 

Now if they was not after the house and i then would be looking to rent.I thought ok this is a good idea,i would earn money from it,and it would still be paid for by tenants so in 5 yrs its paid,but i find out that when you let your house out you are supposed to tell the mortgage company about it,depending on who your with they wanna charge you a higher interest and a high one off fee for the privledge,this i did not know,i have heard many dont say anything but could be major issues and problems if found out and i have also heard that some baks dont even charge you etc.

 

Do any of you out there rent and did not tell bank or anyone who has told bank did they get charged a fee and a higher interest charge?If there are banks out there who dont charge or are worried about it?as i maybe would move if thats what my bank wants to do,i think tis crazy you have a mortagage all them years and they wanna do this,not that i have said or asked them im going by what others have been asked to do with same bank as me.

Not only that im reading or hearing that when you the tax man want a cut,to be honest whats the point in renting these days?unless the place is paid for then its not really gonna earn you extra money.

 

I am really unsure how to go about if to sell this place or rent,selling as i said is maybe a little late but i could always try and sell later on when im in australia,but how,my parents still live in the area im at so maybe they can sell it for me,if so would i need to have this it some legal document to say they can deal with it?

If say i rented i could have my parents keep an eye on it,check the place out from time to time and tell me if there are any issues or stuff i need to deal with or pay for when im in oz is this a good option?

I also hear or read that on the tax on renting a house etc an accountant is a good thing to have to sort this out and to make sure maybe you have not to pay this.

 

Sorry for all the questions but im like i wanna sell the house but maybe too late to i wanna rent the house but is this a good idea.

[ali]

Have a chat to an estate agent and get an obligation free valuation - they could also tell you about the process. don't say you're migrating as people then start to give silly offers.

 

You should tell your mortage company that you're renting and also your insurance company as if you don't it may invalidate any insurance you have on the house. One thing to consider if renting is who will look after the property for you - do repairs etc? Friends of our had a lot of difficulty with their tennant who stopped paying rent, they had to try to sort it all out from Aus emailing solicitors etc., It may be worth using an agent and whilst it will cost you they can do inpections on your property etc.,

[bwatt99]

Have a chat to an estate agent and get an obligation free valuation - they could also tell you about the process. don't say you're migrating as people then start to give silly offers.

 

You should tell your mortage company that you're renting and also your insurance company as if you don't it may invalidate any insurance you have on the house. One thing to consider if renting is who will look after the property for you - do repairs etc? Friends of our had a lot of difficulty with their tennant who stopped paying rent, they had to try to sort it all out from Aus emailing solicitors etc., It may be worth using an agent and whilst it will cost you they can do inpections on your property etc.,

 

Free valuation is this something they offer i thought anything to do with houses etc they would want to charge?The people who maybe interested in the property this is a maybe already knows we are moving to oz,its how badly they want it though as they have a shop within our property and may want to expand or just own the place above them,im not really bothered to be honest if i sell or rent,selling would mean i have the money available to take with me and deposit when buying in oz,renting seems maybe a hassle while over in oz but would cope but its always there to come back to if things did not work out etc and i only have 5 yrs left on it.

 

As for an agent is this not a waste of money when i have parents here who could check this house out and deal with it while im away,dont the agents charge a lot for this.

[SaffanZimbo]

Free valuation is this something they offer i thought anything to do with houses etc they would want to charge?The people who maybe interested in the property this is a maybe already knows we are moving to oz,its how badly they want it though as they have a shop within our property and may want to expand or just own the place above them,im not really bothered to be honest if i sell or rent,selling would mean i have the money available to take with me and deposit when buying in oz,renting seems maybe a hassle while over in oz but would cope but its always there to come back to if things did not work out etc and i only have 5 yrs left on it.

 

As for an agent is this not a waste of money when i have parents here who could check this house out and deal with it while im away,dont the agents charge a lot for this.

 

We were undecided so we contacted the estate agents who we bought our house through in 2005. They send 2 agents. The first gave us a valuation if we chose to sell the house. The second gave us a rental price.

 

We were pleasantly surprised by the rental figure so we have decided to rent and wait for the exchange rate to hopefully improve. We will rent for the first 2 years in Perth and then decide whether to sell the house here or not.

 

We have not yet contacted our mortgage lender as we read from another post that they will probably not allow us to remortgage with them if we are leaving the UK..... so we will need to find a new lender and see what the new rate will be. Fingers crossed the rental monies will cover the new mortgage rate!

 

Good luck with whatever you decide. But if I was you I would get the free valuations done so that you have more informed choice.

[paula-p]

Hey we are in the process of renting our house out ,my mum is also renting her house out ,my mum is with the Halifax and they are charging her 75 quid extra per month for the privilege,the estate agent that we r using isnt fused whether she lets the mortgage lender know or not ,we are also using the same agent but i made enquiries to my lender ,who are Birmingham mid-shires,theyre a subsidiary of the BOS so far theyre just asking that I put itin writing to them explaining the reason for wanting to rent out the property,to b honest if ur doing by the book then u should let them know but u have to weigh it up, how it will work out for u,hope this helps good luck

[bwatt99]

thats the think do you tell them or do you not,i have 5 yrs left on mine,20yrs i have been with them i should not really be charged after being with them all these years

[phil]

Our lender charged an annual fee for renting it out. We had excellent letting agents who gave us good advice. Some things to consider:

How will you handle period(s) where it's empty?

Paying for maintenance/odd-jobs etc

Landlord insurance

The difference between renting it furnished or unfurnished (and the kind of tenants you'll get in either case. Remembering that if you rent it furnished and any item breaks, you may have to replace it)

UK tax implications

Annual gas safety certificate

Getting the money to you

 

For our particular circumstances, we kept the house for two years in case it didn't work out and wanted to come back. In hindsight (wonderful thing) we should have sold it.

[StraighttothePoint]

Free valuation is this something they offer i thought anything to do with houses etc they would want to charge?The people who maybe interested in the property this is a maybe already knows we are moving to oz,its how badly they want it though as they have a shop within our property and may want to expand or just own the place above them,im not really bothered to be honest if i sell or rent,selling would mean i have the money available to take with me and deposit when buying in oz,renting seems maybe a hassle while over in oz but would cope but its always there to come back to if things did not work out etc and i only have 5 yrs left on it.

 

As for an agent is this not a waste of money when i have parents here who could check this house out and deal with it while im away,dont the agents charge a lot for this.

 

The first thing you need to bear in mind is that selling a house in Scotland is completely different to any other parts of the UK due to our legal system, we have our own remember. Also we still use Home Reports in each sale. Much of the advice you may get on here could be from non-Scots so just be aware of that and read over this information first to get a good understanding of what you need to do in Scotland. http://www.s1homes.com/scottish-property-selling-guide/ It means that even if you want to sell it privately to your neighbours there is still the need for a home report and also legal fees which can vary. Also bear in mind there are estate agnets in Scotland but if you use one of those you still need to appoint a lawyer. If you use a lawyer who has a property arm to their business then you are only dealing with one point of contact. I have always used the latter when selling any of my properties. Do you have a lawyer? If so check if they have a property arm to their business. As for free valuations you can ask an estate agent to visit but they will only give you a some guidance and rough figures for your area. The real valaution can only be done via a home report regardless of who you use.

 

That all said given what is happening here in Perth, in terms of the inflated cost of both buying a house and renting, have you worked out what you will need here to do either of those things? I think by possibly doing all the maths first then you will see which way you can solve the problem because you will know what hard numbers in terms of pounds and dollars you have to work with. Figures first and then look at the options is a good way to develop your plan.

 

Anyway if you were to sell your property in Scotland convert what cash you will have left from any sale and add in any other money you can afford to add to that and convert the total to Aussie dollars. Then go to this site and see what you could afford to buy in Perth. (You may need to take out a mortgage here to supplement your cash total.) You may get a shock, you may not as to prices here because we have no idea as to what you have cash wise but it will at least bring you up to speed on selling there and buying here. http://reiwa.com.au/home/default.aspx

 

To be honest unless you are cashed up you should really consider either leaving your house empty or renting if you need to, come out, rent here and see how you like it and then if all ok and you extend your visa or stay here permanently then sell later. The benefits of that are:- 1.that at the moment you are potentially trying to sell in a depressed Scottish housing market and by waiting it may improve, 2. you will see if you can settle in Perth, it is not everyone's cup of tea, and 3. if it all is not what you like then you just go back with no need to worry about having to know where to stay. I appreciate that you may not be able to leave it empty but it would be worthwhile doing the math anyway because if you can then all it needs is for somebody to check on it now and again. Your parents could do that for you.

 

If you need to rent out your property in Scotland then the reality is you can do it yourself by advertising for tenants and using your parents to check on the tenants and the property. The downside to that is of course that is a risk, e.g a big responsibility for your parents if you have either problems with your tenants and/or property repairs. If you do it yourself you can choose who and how much you tell about the situation. (I would not recommend it but it is an option.) The other option is you simply put it into the hands of a property agent. Most lawyers in Scotland have property arms to their business and so by using one you get all the legals and the property management under one roof. The benefits there are they do all the work, including getting a tenant, but of course you pay them a fee and it is more expensive for you. Again you need to sit down and do the math.

 

If you choose to rent in Perth then the REIWA site above also lets you research rentals and depending on what size of property you need then anthing from $350 to $650+ a week is not unusual.

 

I am sure loads of folk have gone through what you are facing but without you knowing the numbers it will be very difficult for you to make any detailed decisons i would have thought so either Exel or a big sheet of A4 is probably the next best step.

[bwatt99]

The first thing you need to bear in mind is that selling a house in Scotland is completely different to any other parts of the UK due to our legal system, we have our own remember. Also we still use Home Reports in each sale. Much of the advice you may get on here could be from non-Scots so just be aware of that and read over this information first to get a good understanding of what you need to do in Scotland. http://www.s1homes.com/scottish-property-selling-guide/ It means that even if you want to sell it privately to your neighbours there is still the need for a home report and also legal fees which can vary. Also bear in mind there are estate agnets in Scotland but if you use one of those you still need to appoint a lawyer. If you use a lawyer who has a property arm to their business then you are only dealing with one point of contact. I have always used the latter when selling any of my properties. Do you have a lawyer? If so check if they have a property arm to their business. As for free valuations you can ask an estate agent to visit but they will only give you a some guidance and rough figures for your area. The real valaution can only be done via a home report regardless of who you use.

 

That all said given what is happening here in Perth, in terms of the inflated cost of both buying a house and renting, have you worked out what you will need here to do either of those things? I think by possibly doing all the maths first then you will see which way you can solve the problem because you will know what hard numbers in terms of pounds and dollars you have to work with. Figures first and then look at the options is a good way to develop your plan.

 

Anyway if you were to sell your property in Scotland convert what cash you will have left from any sale and add in any other money you can afford to add to that and convert the total to Aussie dollars. Then go to this site and see what you could afford to buy in Perth. (You may need to take out a mortgage here to supplement your cash total.) You may get a shock, you may not as to prices here because we have no idea as to what you have cash wise but it will at least bring you up to speed on selling there and buying here. http://reiwa.com.au/home/default.aspx

 

To be honest unless you are cashed up you should really consider either leaving your house empty or renting if you need to, come out, rent here and see how you like it and then if all ok and you extend your visa or stay here permanently then sell later. The benefits of that are:- 1.that at the moment you are potentially trying to sell in a depressed Scottish housing market and by waiting it may improve, 2. you will see if you can settle in Perth, it is not everyone's cup of tea, and 3. if it all is not what you like then you just go back with no need to worry about having to know where to stay. I appreciate that you may not be able to leave it empty but it would be worthwhile doing the math anyway because if you can then all it needs is for somebody to check on it now and again. Your parents could do that for you.

 

If you need to rent out your property in Scotland then the reality is you can do it yourself by advertising for tenants and using your parents to check on the tenants and the property. The downside to that is of course that is a risk, e.g a big responsibility for your parents if you have either problems with your tenants and/or property repairs. If you do it yourself you can choose who and how much you tell about the situation. (I would not recommend it but it is an option.) The other option is you simply put it into the hands of a property agent. Most lawyers in Scotland have property arms to their business and so by using one you get all the legals and the property management under one roof. The benefits there are they do all the work, including getting a tenant, but of course you pay them a fee and it is more expensive for you. Again you need to sit down and do the math.

 

If you choose to rent in Perth then the REIWA site above also lets you research rentals and depending on what size of property you need then anthing from $350 to $650+ a week is not unusual.

 

I am sure loads of folk have gone through what you are facing but without you knowing the numbers it will be very difficult for you to make any detailed decisons i would have thought so either Exel or a big sheet of A4 is probably the next best step.

 

Great post so what you recommend i do first and where i go from here im leaving in may and i just unsure what method to use,rent,sell etc etc i would only possibly sell if my neighbour was after it as probably too late to sell now with only several months to go,ok i could try and sell it or have on the market while im away but this means im leaving it empty and having to still pay for it while,paying for something in oz,there is a chance it could sell here and other chance it could be empty for a while.

So rough how much would a agent cost to look after deal with the property?and say i did not use them and just the help of my parents what are the positives and negs by doing so and say i have a akward tennat who is not paying how does one stand there.

 

I just new to all this and just unsure what road to go down.

 

What are the steps i need to take,just unsure if to sell or rent,would be great to sell,but have no idea of value,i have had the property for 20yrs now so kind of want to see the back of it really as for not liking perth i have been there many times an a total of 6 to oz longest being 1yr traveling,so its a place i have been before and reckon i can settle,but you never sure,i know of people who have moved there still there 5 yrs on and had never been before.

I am just so confused do i rent or sell to a property consider i may have a buyer,if i rent do i get an agent or use parents,what factors to consider or requirements are needed for renting etc.

Edited January 29, 2013 by bwatt99

[StraighttothePoint]

Great post so what you recommend i do first and where i go from here im leaving in may and i just unsure what method to use,rent,sell etc etc i would only possibly sell if my neighbour was after it as probably too late to sell now with only several months to go,ok i could try and sell it or have on the market while im away but this means im leaving it empty and having to still pay for it while,paying for something in oz,there is a chance it could sell here and other chance it could be empty for a while.

So rough how much would a agent cost to look after deal with the property?and say i did not use them and just the help of my parents what are the positives and negs by doing so and say i have a akward tennat who is not paying how does one stand there.

 

I just new to all this and just unsure what road to go down.

 

What are the steps i need to take,just unsure if to sell or rent,would be great to sell,but have no idea of value,i have had the property for 20yrs now so kind of want to see the back of it really as for not liking perth i have been there many times an a total of 6 to oz longest being 1yr traveling,so its a place i have been before and reckon i can settle,but you never sure,i know of people who have moved there still there 5 yrs on and had never been before.

I am just so confused do i rent or sell to a property consider i may have a buyer,if i rent do i get an agent or use parents,what factors to consider or requirements are needed for renting etc.

 

It sounds as though this is tough for you. Have no no close friends who can help you through this? Anyone friends or relatives who have sold a property recently?

 

As I say in my post the first thing to do is to gather together hard information and get it all down on paper. If you are thinking of selling tackle that first. Look in the papers, online at property sites and in estate agents windows to get a rough idea of what similar sized properties are selling for in your area. Also look at this site, register and it tells you exactly what houses have sold for in your area, and even in your street, over the last few years. http://www.ourproperty.co.uk

 

If you want ask an estate agent to visit and say that you are thinking, just thinking, about selling and they will walk you through how much they think you can get. But remember the issue about the home reports because they will say it is needed. If you have their rough price and then you have done the research then you should know within a few days how much you can possibly get for your house. Then if you have that figure you can work out your finances, i.e. how much cash you will have to buy a house in Perth. Once you have that search through the REIWA site to see what you can afford. So in summary phone an agent immediately and get them in and get researching yourself with the things you can do. If you do this immediately in theory you can have the answers by the end of the week.

 

Even if you are going to sell to a nighbour you should follow this process because it will give you a rough valuation. Then if you are happy with roughly the figure then you would still need, I am sure, to get a home report done to enable you to sell to your neighbour. You would may not want to use an agent here because they will arrange the home report and negogiate the sale to the neighbour but of course they will take a fee for doing that. You would still need to then appoint a lawyer to do the paperwork around any sale so approach one and get them to arrange the home report and do the paperwork. That way you will not need to pay estate agency fees. So in short use the agent to get information and then just go to a lawyer to do the sale.

 

The risk here is of course that the neighbours say they like the valuation, you go to the trouble of getting the lawyer and home report and they pull out. However that being said if they do the lawyer can just put it on the market for you anyway. Again time wise this can all be sorted by say the end of next week. So for selling to your neighbour....

 

1. Gather all the information from the papers, the various estate agents windows, the Our Property website and search online for houses on sale in your area.

2. Contact an estate agent and get them to visit saying that you are considering selling. Do not say at this point you are going to Oz. Get a rough valuation from them but do not commit further.

3. Work out if what you can buy or rent in Perth.

4. Contact your neighbours and say that you have a rough valuation of xxxx but it will only be truly confirmed if they want you to go ahead with a valuation report. This will also flush them out and show if theyare really interested or if it is all talk. Do not commit to anything with them about price. Just say that this is a ball park valuation. (I have sold four houses in Scotland in 8 years and every time the rough valuation was within a thousand pounds of the home report valuation. The agents verbal valuation and the report are usually around the same figure.)

5. If they are definately wanting to but go to a lawyer, (get a name of one from a close friend or relative if you do not use one at the moment), and tell them the whole story. They will arrange a home report, you pay for that, and then after that meeting you ask your neighbours to speak to their lawyer and to get them to speak to your lawyers.

6. The two lawyers will negogiate on price and your lawyer will tell you the best offer.

7. You can then decide to take the neighbours offer or go onto the open market.

 

So for renting out officially....

 

1. Approach a property agent and ask them to visit and they will tell you how much they think you can get for a monthly rent. Property agents are in the phone book and sometimes are part of an estate agents business. They are also part of a lawyers business where the lawyer offers property services. Just google for them.

2. They will advise you of anything you need to do to your house to bring it up to the point of being able to rent out, e.g. there are health and safety issues that need to be 100% correct before an agent will take on board a property to manage.

3. The agent markets the property, gets you a tenant and also looks after everything for you when you are away.

3. Property managers will take circa 10% of the monthly rent as their fees.

 

For renting out doing it yourself. To be honest reading your posts have you the experience, energy and time to do this yourself? If you did go down that road you need to find the tenant, get all the necessary paperwork in place and then get someone else to manage the property and the tenant for you. A big responsibility to be honest for somebody when you are not there unless they have past experience.

 

I know it is hard but you need to get the figures down on paper so that you have any chance of understanding all the implications. On the face of it selling to your neighbours looks like the best answer for you. Perhaps it is best that you make a quick decision and put all your efforts into selling to them in the first instance. If you go through that first then, if they are serious, it will only take a couple of weeks or three at the most, to get that sale decided. If they pull out at least they will do that soon and then you can consider either selling on the open market or renting via a property agent at that point. The secret I guess is not to try and solve everything at once. Make a decision on one thing and put all your time and effort into that.

 

Good luck.

Edited January 29, 2013 by StraighttothePoint

[bwatt99]

Cheers you info has really been helpfull and thats what im gonna do try sell if not look then maybe try and rent.I would maybe only want to sell at this time if the neighbours wanted it,as we are going in may i feel that it would not sell before then who knows maybe but i cant see it.And i would rather i rented it out and have it pay my mortgage while im over there and having it empty and not selling,but who knows maybe a little time away in oz it might sell.

I wanted to ask if say i did not get it sold to neighbour and decided to leave it on the market,who can i have deal with it,parents,as in selling it,access to it for view,doing the legal stuff while im over in oz etc.

I know im asking a lot of stuff but the more info i have and become stuck the quicker i can get things sorted out.

 

When you said this:

4. Contact your neighbours and say that you have a rough valuation of xxxx but it will only be truly confirmed if they want you to go ahead with a valuation report. This will also flush them out and show if theyare really interested or if it is all talk. Do not commit to anything with them about price. Just say that this is a ball park valuation. (I have sold four houses in Scotland in 8 years and every time the rough valuation was within a thousand pounds of the home report valuation. The agents verbal valuation and the report are usually around the same figure.)

 

When you say i have a rough valuation is this a little more than what i was given?but you say do not commit to anything about price?so give them approx price right?

 

I need to do a little work to the house to make it more saleable would this be a better thing to do before getting a free valuation or would it make no difference,

 

Again thanks for your helpfull info on all this.

[StraighttothePoint]

I wanted to ask if say i did not get it sold to neighbour and decided to leave it on the market,who can i have deal with it,parents,as in selling it,access to it for view,doing the legal stuff while im over in oz etc. I know im asking a lot of stuff but the more info i have and become stuck the quicker i can get things sorted out.

 

When you said this:

4. Contact your neighbours and say that you have a rough valuation of xxxx but it will only be truly confirmed if they want you to go ahead with a valuation report. This will also flush them out and show if theyare really interested or if it is all talk. Do not commit to anything with them about price. Just say that this is a ball park valuation. (I have sold four houses in Scotland in 8 years and every time the rough valuation was within a thousand pounds of the home report valuation. The agents verbal valuation and the report are usually around the same figure.)

 

When you say i have a rough valuation is this a little more than what i was given?but you say do not commit to anything about price?so give them approx price right?

 

I need to do a little work to the house to make it more saleable would this be a better thing to do before getting a free valuation or would it make no difference,

 

If you do not get it sold to your neighbour, and you put it on the open market, and then it was not sold before you leave you can change any adverts to, "Viewing by appointment only". You can use the selling lawyer and/or agent depending who you decide who to use to then view the property on your behalf. They wll simply charge you a veiwing fee for each viewing they undertake. The advantage there is that when they get a call for a viewing they can sort it out direct with the prospective buyer as to viewing times. They will also be flexible and do it quickly. Alternatively who can ask your parents to do the viewings if the house is empty. The upside to that is you save on viewing fees but the downside is that it means that if a prospective buyer contacts the number of the agent / lawyer then they need to then sort out a time to view between the buyer and your parents. A bit messy but it can be done. Ask how much escorted viewing fees are when dealing with the estate agent and then the lawyer to see if it is a better method. Think the last time I did it that way it was twenty quid a viewing, probably a bit more now.

 

On the verbal discussions with your neighbours you need to be very careful. You should not negogiate the price with them at all only give them an indication of the valuaton from the agent. Just say I got an agent in to assess the property and based on their visit and visual viewing, and their knowledge of the local property market, the valuation was in the region of xxxx but until you have the home report you cannot give them an exact figure. You could also say, if you were happy to do this, that if they are going to offer then you will give them first refusal. Also during that chat you need to ask them that they need to tell you one way or another that they are seriously interested. Give them a day or two to think about it and if they say yes then you can get yourself a lawyer at that point. Then you simply give them the name of your lawyer. If the neighbours say that they will only give you xxxx for the house after you say you need to get the lawyers involved then that is where you need to be careful and stick to your position, i.e. sorry but if you are seriously wanting to buy this then you need to speak to my lawyer. That will flush them out and prove if they are really serious or not.

 

If they say ok at that point then the neighbours just get their lawyer to contact your lawyer to start the formal process. It is at that point you can get the home report done which would in turn give you the exact valuation. Your lawyer will then negogiate with their lawyers in relation to any formal offer the neighbours then make. Any offers will be made based on the home valuation report. Remember they could easily offer less than the valuation and that is one reason as to why you need a lawyer involved, i.e. to make sure you get the best price. You may end up taking less or indeed they may offer a bit more becuase you are giving them first refusal before going to the open market. Who knows because when it comes down o it eveyone is after a bargain and they may see this as a good option to get something cheap, i.e. you are telling them you are going and they may get the impression you want a quick sale.

 

All above is based on selling to your neighbour. If you want to sell on the open market then just start that process now as per previous posts.

 

If it was me I would not wait until you get the house saleable. (You have had the visa four years and now you have ony got a few months to go and so, being delicate here, you need to start making decisions and taking action immediately and not wait or waste anymore time.) You should get the estate agent in now, immediately, and during that chat just point out the things that you think need done beofre it can go on the market. Also bear in mind the agent will tell you what things they think you need to do to the house. Always a good way to get a reality check on the property. Then you can move to chatting to your neighbours asap. If you are serious with all this as I said perviously you can everything in place within a week or so. Nothing is hard here, honestly, it is just you need to follow a process.

 

 

By the way out of interest where are you in Scotland?

Edited January 30, 2013 by StraighttothePoint

[bwatt99]

aberdeenshire

[bwatt99]

I have not moved forward on this yet due to working away from home etc but hope to look into all this soon and going through your helpfull info,but can i ask you if not already asked already a guy at my work says if my neighbour is still interested in my house we can do a joint valueations is this correct?he just told me he sold his house and private, cutting out the costs an estate agents,but still needs to do the legal work,papers etc woth a solictor etc.

[StraighttothePoint]

I have not moved forward on this yet due to working away from home etc but hope to look into all this soon and going through your helpfull info,but can i ask you if not already asked already a guy at my work says if my neighbour is still interested in my house we can do a joint valueations is this correct?he just told me he sold his house and private, cutting out the costs an estate agents,but still needs to do the legal work,papers etc woth a solictor etc.

 

I suppose it is all down to how "friendly" you are with your neighbours to be honest. The cost of the estate agent to come in and give you an appraisal on your house, with their valuation, will be free (as it is here in Oz) and you will only start to pay costs to an agent if you ask them to market your property and then when it sells they take a percentage of the sale figure. So I would still get that done because it is free as it gives you a starting point and information to start a meaningful conversation with your neighbours.

 

If your neighbours are happy with the agents valuation then you could in theory sell the house without a home report and only pay legal fees. But if your neighbours need to take out a mortgage to buy the property then there will need to be a home report for the building society. You could certainly ask your neighbours to joint fund a home report if one is needed but if you are going to get a sale anyway why cause any possible hassle and time delays for the sake of a few hundred quid?

 

So your guy at work is correct in some ways but the conditions of the sale would need to be in your favour for it to happen that way. There are possibly too many unknowns at this point. Once you really start to talk seriously with your neighbours, and as soon as hard cash is discussed then I am sure it will become clearer as to how they "helpful" they will be in terms of a sale.

 

I still think by getting the free appraisal quickly that it will give you a professional valuation figure and that gives you good, quality information for your first chat with your neighbours. You will learn more about the property from the agent than just the valuation as it is another set of eyes looking it over. However if you feel that you can have more formal discussions with your neighbours without any background information then of course you can take that route as well. It really is up to you.