W1zard Posted January 4, 2011 Author Share Posted January 4, 2011 the vitriol on here is unbelievable......"why is the dad interested anyway"........."dump them both"!!!! the only people who have never made a bad investment decision are usually those who have never made an investment (and prefer to keep their savings at negative real interest rates presumably). w1zard as very few people on here have actually bothered to offer you any proper advice, i would say on one hand a well presented house always looks more attractive, but on the other (as someone did point out), an empty house implies no chain and a more motivated seller. for what its worth when i bought recently i only bothered to look at empty, chain free or repo's and dismissed any occupied house as too much hassle or overpriced. so i would dress it up with a bit of furniture but not move in and price it reasonably and depending on the type of property/location it should sell edit: 2nd hand furniture costs next to nothing on ebay or there's a site where people put stuff for free (forget the name)....you can make it look a lot better than empty for very little outlay Thanks for this - Like i said this initially began as her helping her dad with what was suppose to be an alternative career in somethig he thought was worthwhile at the time and she believed in him. As we were only early into our own relationship at the time i had no involvement but now I am involved because she thinks we need to move into the house in order just to sell it. I believe the chain free aspect will probably stand as a greater selling point that a fully fitted out occupied house in this market. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 4, 2011 Share Posted January 4, 2011 Thanks for this - Like i said this initially began as her helping her dad with what was suppose to be an alternative career in somethig he thought was worthwhile at the time and she believed in him. As we were only early into our own relationship at the time i had no involvement but now I am involved because she thinks we need to move into the house in order just to sell it. I believe the chain free aspect will probably stand as a greater selling point that a fully fitted out occupied house in this market. I think you need to get yourself a pipe, a pair of slippers, sit down in a comfy chair, place your missus over your knee and, whilst using a rolled up copy of The Telegraph on her derrier, inform her that you, and not her Dad, are now the man in her life. Talk slowly, have a stern but reassuring voice. Puff on the pipe occasionally. She will thank you for it when she gets up! Quote Link to comment Share on other sites More sharing options...
W1zard Posted January 4, 2011 Author Share Posted January 4, 2011 Have to say it, the man has a very valid point. Not in this instance he doesnt. They bought the house before I was around. A daughter believing the advice of her father. I doubt these are rare circumstances and the question was actually more regarding having to move into the property in order to sell it. Thanks anyway. Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted January 4, 2011 Share Posted January 4, 2011 I believe the chain free aspect will probably stand as a greater selling point that a fully fitted out occupied house in this market. Absolutely. As an FTB, I could assure you that the "ready to go" aspect is much better in this market than twigs and artfully placed cushions, which is essentially what the FIL is going for. People living there is just another hassle. Quote Link to comment Share on other sites More sharing options...
trekking Posted January 4, 2011 Share Posted January 4, 2011 (edited) I thought this was a BTL so why not rent it out, yeild should be higher now the price has fallen. Snipped. Using your logic, if she holds on for another couple of years, the yields will be even greater :-( :-( :-( Edit 4 spellin Edited January 4, 2011 by trekking Quote Link to comment Share on other sites More sharing options...
singlemalt Posted January 4, 2011 Share Posted January 4, 2011 'After some time her father wanted his money out...' I bet! Guess he saw the writing on the wall and thought bugg£r this I'm off. Quote Link to comment Share on other sites More sharing options...
pope Posted January 4, 2011 Share Posted January 4, 2011 Oi blue mooner with 30 posts, the OP mentioned the family shit and some of us that have been stung by the inlaws and the madness of women obsessed with property have quite rightly raised our concerns with regards to the BIGGER picture! So wind yer freakin neck in, and make your point without trying slam others who are quite rightly seeing the warning signs of meddling inlaws! OK? about how many posts do i need to have made before i can start jumping to conclusions and ignoring what the OP (? which presumably means opinion poster) actually asked????? Quote Link to comment Share on other sites More sharing options...
Chest Rockwell Posted January 4, 2011 Share Posted January 4, 2011 Not in this instance he doesnt. They bought the house before I was around. A daughter believing the advice of her father. I doubt these are rare circumstances and the question was actually more regarding having to move into the property in order to sell it. Thanks anyway. Well I do hope you have managed to pull a wide range of views and enough for you to make an informed decision. Quote Link to comment Share on other sites More sharing options...
trekking Posted January 4, 2011 Share Posted January 4, 2011 about how many posts do i need to have made before i can start jumping to conclusions and ignoring what the OP (? which presumably means opinion poster) actually asked????? OP = Original Poster. HTH Quote Link to comment Share on other sites More sharing options...
Chest Rockwell Posted January 4, 2011 Share Posted January 4, 2011 about how many posts do i need to have made before i can start jumping to conclusions and ignoring what the OP (? which presumably means opinion poster) actually asked????? Read what the OP wrote, you'll see that he added a lot of detail that raised other questions that some of us with a little life experience spotted! If he just wanted an answer to his question (which wasn't until Paragraph 3 of the first post) then he should have posted up the question without so much background info. You cannot have a pop at other people for picking over the detail. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 4, 2011 Share Posted January 4, 2011 Not in this instance he doesnt. They bought the house before I was around. A daughter believing the advice of her father. I doubt these are rare circumstances and the question was actually more regarding having to move into the property in order to sell it. Thanks anyway. so lets get this straight. your missus..single, buys a place with dad, they cant sell so they rent and he pulls out. Its now 100% hers, and yours. so now the dad advises her to move in to sell it.....yet you say its her that thinks this in a later post. You rent, and the mortgage was a problem without tenants. Its a nice place with 5 tenantsm whom you dont want to upset. Starting to sound a bit of a wind up to me, Quote Link to comment Share on other sites More sharing options...
pope Posted January 4, 2011 Share Posted January 4, 2011 Thanks for this - Like i said this initially began as her helping her dad with what was suppose to be an alternative career in somethig he thought was worthwhile at the time and she believed in him. As we were only early into our own relationship at the time i had no involvement but now I am involved because she thinks we need to move into the house in order just to sell it. I believe the chain free aspect will probably stand as a greater selling point that a fully fitted out occupied house in this market. yes i agree. don't panic remember most of the people predicting a CRASH have predicted 7 of the last 3. nationally prices were flat for 2010. when i bought recently i bookmarked over 100 houses on rightmove and i would say 75% are now sold (or some may have been withdrawn). next year prices could go, up, down or sideways. the only thing the past decade should tell us is expect the unexpected Quote Link to comment Share on other sites More sharing options...
pope Posted January 4, 2011 Share Posted January 4, 2011 Read what the OP wrote, you'll see that he added a lot of detail that raised other questions that some of us with a little life experience spotted! If he just wanted an answer to his question (which wasn't until Paragraph 3 of the first post) then he should have posted up the question without so much background info. You cannot have a pop at other people for picking over the detail. ok but i'll leave the agony aunt stuff to those with more time if its alright by you Quote Link to comment Share on other sites More sharing options...
Chest Rockwell Posted January 4, 2011 Share Posted January 4, 2011 yes i agree. don't panic remember most of the people predicting a CRASH have predicted 7 of the last 3. nationally prices were flat for 2010. when i bought recently i bookmarked over 100 houses on rightmove and i would say 75% are now sold (or some may have been withdrawn). next year prices could go, up, down or sideways. the only thing the past decade should tell us is expect the unexpected Hows it going Sibley? Quote Link to comment Share on other sites More sharing options...
W1zard Posted January 4, 2011 Author Share Posted January 4, 2011 so lets get this straight. your missus..single, buys a place with dad, they cant sell so they rent and he pulls out. Its now 100% hers, and yours. so now the dad advises her to move in to sell it.....yet you say its her that thinks this in a later post. You rent, and the mortgage was a problem without tenants. Its a nice place with 5 tenantsm whom you dont want to upset. Starting to sound a bit of a wind up to me, Her dad believes it would be easier to sell if we were living there and she believes he may be right. Whats so odd about that? I dont understand your other query. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 4, 2011 Share Posted January 4, 2011 yes i agree. don't panic remember most of the people predicting a CRASH have predicted 7 of the last 3. nationally prices were flat for 2010. when i bought recently i bookmarked over 100 houses on rightmove and i would say 75% are now sold (or some may have been withdrawn). next year prices could go, up, down or sideways. the only thing the past decade should tell us is expect the unexpected the bloo loo famous precision house price futurama prediction indicator is in the post... Meanwhile, for those who just had to buy...we salute you....so does the EA. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 4, 2011 Share Posted January 4, 2011 Her dad believes it would be easier to sell if we were living there and she believes he may be right. Whats so odd about that? I dont understand your other query. so what. he bailed. go see an EA and get advice. Quote Link to comment Share on other sites More sharing options...
W1zard Posted January 4, 2011 Author Share Posted January 4, 2011 so what. he bailed. go see an EA and get advice. Brilliant. How did you end up with 33,000 posts if you always make so much sense. Quote Link to comment Share on other sites More sharing options...
pope Posted January 4, 2011 Share Posted January 4, 2011 Hows it going Sibley? go on i'll bite......sibley????? Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 4, 2011 Share Posted January 4, 2011 The missus and her father bought a house in order to decorate and sell. Almost immediately after the paint had dried the credit crunch struck and a prospective buyer backed out. This put them off listing it for any longer due to the mort repayments and they managed to find an interested tenant fairly quickly and let it to them until the market 'improved'. After some time her father wanted his money out so she took on his part with savings of her own. Despite my ramblings about the imminent HP crash her father told her to keep it let as property prices look like they are going up again from the credit crunch period. Now after all the recent news in the MSM her father is now agreeing with my stance on housing and saying she should try and sell it but thinks we need to move into it in order to 'get the best price'. I think this is entirely pointless and actually love the area in which we rent out cottage and cannot see any logic in moving into the btl house just to try and sell before effectively moving back to where we currently are and await further house price falls. So my question to all you knowledgable people is this: Now they both finally believe me when I say prices are too high and lending has reverted back to rational levels which will mean prices will follow, do we really have to up sticks and move into this place just to have any chance of selling it? Regards I would tell him to STFU, he got his money out safe so tell him to wind his neck in. I think that moving in and making it a primary residence would protect you from CGT but I see no reason why it would help you sell. In my opinion it would be easier to sell an empty place. I would rather sell a place that can be free of clutter so it looks its best and I would rather buy something vacant so it could be done quickly. Tell your father in law to keep his daft opinions to himself since none of them have helped so far. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 4, 2011 Share Posted January 4, 2011 Brilliant. How did you end up with 33,000 posts if you always make so much sense. I think its good advice. you have a property to get shot of and need advice from someone who can see it, locate it and advise on it. See an EA. get some numbers. we see a request from a newbie, no location, changing "facts" and then posters are slagged off by another. If the wife is seeking advice from a third party, her father and your interest is at risk, go see a solicitor. Quote Link to comment Share on other sites More sharing options...
pope Posted January 4, 2011 Share Posted January 4, 2011 the bloo loo famous precision house price futurama prediction indicator is in the post... Meanwhile, for those who just had to buy...we salute you....so does the EA. my point exactly....no one knows what prices will do (up, down, sideways every cloud's got a silver lining)....i needed a house at that time....so i bought one.....if the "value" goes down i'll just roll with the punches. Quote Link to comment Share on other sites More sharing options...
erranta Posted January 4, 2011 Share Posted January 4, 2011 (edited) So the father wanted his money back when the crunch hit and then said prices were going up so your OH should keep the property. He's now saying prices are falling and you should sell the house but you should move in! This man is clearly a financial genius. Please put me in touch with him as I wish to get some advice on where to invest my STR fund. The trouble you will have in selling the place is that any potential buyer is going to wonder why it's not furnished and so it's going to scream "desperate seller". That's how I'd see it anyway. So I can see why your FIL suggests you moving in. However, within the family do you have enough spare furniture that could be used to dress the place? Make sure it's the best you can use - no point making the house look like it was furnished by Oxfam. I'm not suggesting vases full of twigs, but you do need to help potential buyers be able to see themselves living there. An empty house doesn't do that. Good luck. I agree with most of above. Bloody Father-in-law has a damn cheek and is an ill informed speculator. I like the way he stuffs his daughter with a depreciating asset(use your savings and buy me out) whilst telling her to hang on to it - complete t-w-a-t head! Try to advertise and sell your cottage privately (save the Estate Agent fees) then price it to sell quickly - not what other cottages are priced at in the local area - undercut them. If you you have to take a small loss now - it could be a much bigger loss 12 months down the line. By moving into your house to actually live there is some sort of tax dodge (like Govt Ministers do by flipping) the others will tell you. Although HMRC have said they are stamping down on this type of dodge by ruling against people they suspect of carrying it out to avoid paying the tax Edited January 4, 2011 by erranta Quote Link to comment Share on other sites More sharing options...
winkie Posted January 4, 2011 Share Posted January 4, 2011 my point exactly....no one knows what prices will do (up, down, sideways every cloud's got a silver lining)....i needed a house at that time....so i bought one.....if the "value" goes down i'll just roll with the punches. That is not what you were telling us last year. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 4, 2011 Share Posted January 4, 2011 I agree with most of above. Bloody Father-in-law has a damn cheek and is an ill informed speculator. I like the way he stuffs his daughter with a depreciating asset(use your savings and bui me out) whilst telling her to hang on to it - complete t-w-a-t head! Try to advertise and sell your cottage privately (save the Esate Agent fees) then price it to sell quickly - not what other cottages are priced at in the local area - undercut them. If you you have to take a small loss know - it could be a much bigger loss 12 months down the line. By moving into your house to actually live there is some sort of tax dodge (like Govt Ministers do by flipping) the others will tell you. Although HMRC have said they are stamping down on this type of dodge by ruling against people they suspect of carrying it out to avoid paying the tax If the OP and his missus are in the process of splitting up, or having a 'break' re their relationship/marriage, would not the BTL become the home of the missus? I mean, if a couple split up, even temporarily, surely wherever each party lives is effectively their home? Or doesn't it work like that? Quote Link to comment Share on other sites More sharing options...
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