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Author Topic: house sales  (Read 1369 times)

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BERTIECBX550

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Re: house sales
« Reply #15 on: 03 July 2009, 00:04:43 »

I`m gonna talk to the C.A.B. 2mora and possibly a solicitor next week if need be.....
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Vamps

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Re: house sales
« Reply #16 on: 03 July 2009, 00:09:11 »

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I`m gonna talk to the C.A.B. 2mora and possibly a solicitor next week if need be.....

Sound move...... :y
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Ken T

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Re: house sales
« Reply #17 on: 03 July 2009, 00:27:31 »

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If the house is subject to a Will .. then the C&G can make no claim on it until probate is granted - at least that is what the last 10 minutes of google reading has lead me to believe - and any overdue payments would come from the estate of the deceased.

I reiterate .... get PROPER advice .. my research and other folk guesses mean didly squat ... Professional advice is required .. soonest.

Yes, balanced with a true value of the assets in question. Don't just believe one person. Get an idea of how much its worth on the market and as rental. When my Uncle died, the solicitor was there to clean things up, that's all, he even had a possible buyer. I got a better price based on current market rates. Getting best price, value for money, the best plan is not top of his agenda. He wants to finish things off as quick as poss so he gets his dosh, looking at the gradual market recovery, it may be in your best interests to hang on for a while.

Rental on £100,000 property is bound to exceed a £16k mortgauge. Say 10% interest/mortgauge is £1600 per year, rent out at £50 per week is £2500 per year, which is a cheap rent, and you are not forgetting most of the income is offset against against interest so naff all tax. If you could renegotiate the the mortgauge  plus loans at some of the 6% rates about, then things look a lot better, and you will have something left over to invest for the future.

Make the best of what you were left, don't let the incompetant clowns in building societies take it all. The government bailed them out, you don't have to as well.

Ken 

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I used to be indecisive; now I'm not so sure...

Lazydocker

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Re: house sales
« Reply #18 on: 03 July 2009, 00:49:21 »

AFAIK buy to let mortgages are dictated by rental income, not personal circumstances, so you need to seek professional advice! You could easily raise the money to pay off the current mortgage and any outstanding debts on a buy to let!

I can give you contact details for a couple of good, independent mortgage/financial advisors if you want them.
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Vamps

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Re: house sales
« Reply #19 on: 03 July 2009, 00:56:11 »

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AFAIK buy to let mortgages are dictated by rental income, not personal circumstances, so you need to seek professional advice! You could easily raise the money to pay off the current mortgage and any outstanding debts on a buy to let!

I can give you contact details for a couple of good, independent mortgage/financial advisors if you want them.

Sound advice, but I think he has an IVA which may make it difficult to raise funds :-/
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Ken T

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Re: house sales
« Reply #20 on: 03 July 2009, 00:58:00 »

Go for it, but get at least 2 independent views and choose the one you feel you can trust the best. There are a lot of rich crooks out there, driving new cars etc........

Ken
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Ken T

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Re: house sales
« Reply #21 on: 03 July 2009, 01:01:27 »

Its a bitch when the system screws everyone, and all his Dads work and saving goes for nothing. That happens...........

Ken
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MikeDundee

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Re: house sales
« Reply #22 on: 03 July 2009, 07:40:40 »

C.A.B. are most likely to advise you to seek further professional advice from the appropriate solicitor e.g., specialising in probate etc.,........the solicitor as previously mentioned will then deal with C&G on your behalf, if the solicitor also deals with property sales then a bonus, subsequently contact an estate agent and get the house on the market.................the only issue I can see is whether they will take additional cost's for things like the HIP out of the sale price, as normally that is payable up front anything up to £300.00...info., here on HIPs:

 http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Homeinformationpacks/DG_171685

However, renting is a good option and you will likely cover the cost of the mortgage and get some extra cash back. But that depends on what the rental market is like up where you are. Also if you go to housing associations, or the local Council etc., they will have minimum requirements, e.g., gas servicing tickets, electrical test and check certificate, also smoke alarams in hallways stair landings, kitchens etc, also fire check doors to kitchens. 

Anyway that's just my advice, good luck whichever way you go, in anycase I don't see you or your brother losing out even if you do decide to sell :y 
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BERTIECBX550

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Re: house sales
« Reply #23 on: 04 July 2009, 00:31:32 »

I queued up and saw a C.A.B. advisor on friday afternoon and basically advised to seek a solicitors advice and given a list of decent solicitors in wolvo i was also advised to apply for working tax credits so i went across the road into temple st job centre and given a leaflet and access to a free telephone and was pleasantly surprised i am eligiable for em!!! go figure...I also rang a solicitor and got an appointment in the afternoon and told em everything and the lady said no probs we deal with everything even down to selling or rentng the house for you and your brother as they have an inhouse estate agent....Sooo i`m more upbeat tonight and i`m going back next week with my brother and everything they`ve asked for regarding dads estate...... :)
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Vamps

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Re: house sales
« Reply #24 on: 04 July 2009, 00:37:47 »

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I queued up and saw a C.A.B. advisor on friday afternoon and basically advised to seek a solicitors advice and given a list of decent solicitors in wolvo i was also advised to apply for working tax credits so i went across the road into temple st job centre and given a leaflet and access to a free telephone and was pleasantly surprised i am eligiable for em!!! go figure...I also rang a solicitor and got an appointment in the afternoon and told em everything and the lady said no probs we deal with everything even down to selling or rentng the house for you and your brother as they have an inhouse estate agent....Sooo i`m more upbeat tonight and i`m going back next week with my brother and everything they`ve asked for regarding dads estate...... :)

Good move, I hope they can sort it all out for you, good luck..... :y
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HolyCount

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Re: house sales
« Reply #25 on: 04 July 2009, 10:29:45 »

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I queued up and saw a C.A.B. advisor on friday afternoon and basically advised to seek a solicitors advice and given a list of decent solicitors in wolvo i was also advised to apply for working tax credits so i went across the road into temple st job centre and given a leaflet and access to a free telephone and was pleasantly surprised i am eligiable for em!!! go figure...I also rang a solicitor and got an appointment in the afternoon and told em everything and the lady said no probs we deal with everything even down to selling or rentng the house for you and your brother as they have an inhouse estate agent....Sooo i`m more upbeat tonight and i`m going back next week with my brother and everything they`ve asked for regarding dads estate...... :)

Solicitor will cost a bit ( will be taken from estate eventually) but, TBH, it will be worth it for the peace of mind. It's unfortunate that families get lumbered with all this red tape when they least need it!!!

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