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We’re in a right old stick or twist situation selling Mrs & her ex’s house, was due to complete on 24th March but small chain collapsed, original buyer still wants it & as soon as they find a new buyer it’s a goer, but how long do we wait… or do we lose them on the chance of finding a new buyer 🤔 at present its an empty house with a £200k mortgage & bills to pay 😕
I am in the position of your buyer, part exchange has been mentioned. Would this work for you? Obviously a gamble, but no more than waiting a few more months to see how impacted the market will be. I'm waiting to hear what I can borrow on a new AIP, after mine ran out over lockdown. My situation hasn't changed at all, so will be interesting to see if it's any different.
I was looking at the Midlands (southwest Birmingham) where I perceive prices to have dropped.
My reference town/street - where I grew up in Hertfordshire seems pretty stable, and not a lot on offer.
Referencing P-JAY Actually my childhood house was sold last year, I could
have afforded it but as a percentage of my income compared with my parents it's about the same. That's a bit crazy as my dad was in the police and I'm a sort of manager in a multinational Corp.
@ Pjay cheeky Q but is that 80K net - I guess so!
I am in the position of your buyer, part exchange has been mentioned. Would this work for you?
Not really, one house is all we need or want, just happen to have an extra one at present that we want shot of, reading the above it's in reasonable commuting distance of London, has lots of space and a garden - an ideal doer upper..
If landlords were let off cgt if they sold to long term tenants then home ownership would increase. Also, some sort of secure long term tenancy agreement.
The current model is pretty broken. I have a tenant c mid 40s higher rate tax payer, long term tenant, would love to buy the flat he is in. I wouldn't sell it as my cgt liability is eye watering.
I wouldn’t sell it as my cgt liability is eye watering
But it'll only be eye watering because you'll have made a big profit on the value of the house 🤔