Anyone else selling their home?

Just wondering if anyone else is going through this at the moment or has just been through it? I had to put my house on the market in July 2011 because I'm finding it very hard to keep up with the bills and the debts are mounting. I'm also stuck in a dead end job that I hate which doesn't pay enough to keep me going. My intention is to move back home with my parents and start again somehow (if the house sells), not an easy thing to do in your mid thirties to be sure. I was going to leave the house on the market and if unsold by January 2012 I would have to rent it out which I really don't want to do. That deadline is approaching fast now and I'm really not a happy camper at the moment.:(

The Irish budget in December made a few allowances for first time buyers to try and stimulate the market again but I don't know if it will make any difference. There is a huge surplus of houses for sale here as a result of our false boom and it unfortunately doesn't bode well for the seller of second hand homes. Meanwhile our top politicians with their high paying jobs have completely lost touch with the reality of ordinary folk and do nothing to alleviate the day to day worries of the people.:mad:

I know most of you are in other countries but I think our economies are in similar strife. The stress of all this is really getting to me now. Anyone out there with a similar tale of woe or offering a few crumbs of comfort?:(

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I'm really sorry you are going through this. Just wondering about the possibility of Student Accommodation where you could License (not rent) & have greater control. Holiday home lets? Either way you could then offer to sell as an investment property rather than a private home? (there are folks out there with money for such things I believe!)

Thanks Elizabeth. I had rented rooms out to various people along the way but that just drove me mad. I had a few tenants who forgot their upbringing and that just made my life hell. I couldn't put students in there as my neighbours on all sides are lovely people and I would hate to have their peace and quiet destroyed by anti social behaviour. I've explored every option so far and have hit a dead end.

I sold my last house for considerably less than its theoretical market value, in order to be shot of an uncomfortable and stressful situation. I've never regretted it. Make it a bargain and there's always somebody willing to take it on, and you can just pay off everything and walk away.

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Originally Posted by bykimbo

I sold my last house for considerably less than its theoretical market value, in order to be shot of an uncomfortable and stressful situation. I've never regretted it. Make it a bargain and there's always somebody willing to take it on, and you can just pay off everything and walk away.

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You might be right there Kim, trouble is I need so much to pay off existing debts and something extra to cushion me for the next step in life. I may yet end up dropping the price drastically to to be done with it. I will end up making a business decision in the end I think just get shot of it but I'm resisting for now.

Not an easy situation.
Kim may well be right (again!) I also think maybe you are at a bit of a crossroads all round and we go through stages in life every now and then when we need to do a complete re-appraisal. You say you hate your job too. Sometimes you just have to cut your losses and do something completely different (or/and go somewhere completely different) the biggest problems are often the biggest opportunities in disguise if you are willing to take a gamble. Have a think as to what your instincts or heartfelt desires are perhaps whilst in this conundrum

Sorry to hear you are caught up in the seller's dilemna. Situation for sellers is also tough over here. I'm trying to resist an outright sale of my property, because only buyers are winning now. I never advise any seller to rush into selling their property. Each person has to decide what will work best for them.

Have thought about leasing with the option to buy. This would tend to attract a more serious renter/potential buyer. Turning property over to professional managers can sometimes help with the stress of dealing with renters. They find the tenants, do the background checks, collect the rent, do evictions, and provide maintenance and repair services. Their fees can be included in rents if not exhorbatent.

Hey David, not a homeowner here, but I do sympathize, being 43 and jobless; the economy is rotten here as well. I try not to let it bother me, though it does sometimes; as my late grandmother used to say, "everything goes in cycles," so I have faith this latest mess will pass and things will get better.

Hang in there and stop by the Cellar for drinks on the house. :)

Happy holidaze and many sales to all,

I had a situation where I needed to be rid of my house for different similar reasons to yourself, but the cause was different. The house was too big for one, and the bills too high for me to fund on my own, so to get rid of what I referred to as my 'white elephant' I opted to put the house up for sale through auction rather than through normal estate agent channels waiting for a buyer that could come along this week, in a month, or after 6 months. The end result was less than what the normal channels would have realised but, the end price was enough to clear the mortgage and leave me a balance. But, more than that, to me, it meant that I was rid of the place, any debts that came with it, and any other hassles and stresses that waiting for a buyer would have given me. In my area the auctions are bi-monthly. It could be a consideration for you. If you're thinking of going this route, check the details with the estate agents in your area and they'll tell you when the next auction is, and their charges etc.

Hope it helps.

What a good idea, Babs. Never thought about an auction. We sold ours a year ago and were lucky that one of our neighbours wanted a bigger house (they lived literally round the corner and needed no removal van) They had no competition, so were able to get the house for less than we wanted to sell for. But as we wanted a quick(ish) sale, there was little choice

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Originally Posted by Salomina27

Not an easy situation.
Kim may well be right (again!) I also think maybe you are at a bit of a crossroads all round and we go through stages in life every now and then when we need to do a complete re-appraisal. You say you hate your job too. Sometimes you just have to cut your losses and do something completely different (or/and go somewhere completely different) the biggest problems are often the biggest opportunities in disguise if you are willing to take a gamble. Have a think as to what your instincts or heartfelt desires are perhaps whilst in this conundrum

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Crossroads is right, don't think I've had a more difficult problem in my entire life. I seem to have been cutting my losses since my business closed nearly 5 years ago. My instincts are a bit confused at the moment, I don't know which way to turn really.:confused:

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Originally Posted by burgyeb

Sorry to hear you are caught up in the seller's dilemna. Situation for sellers is also tough over here. I'm trying to resist an outright sale of my property, because only buyers are winning now. I never advise any seller to rush into selling their property. Each person has to decide what will work best for them.

Have thought about leasing with the option to buy. This would tend to attract a more serious renter/potential buyer. Turning property over to professional managers can sometimes help with the stress of dealing with renters. They find the tenants, do the background checks, collect the rent, do evictions, and provide maintenance and repair services. Their fees can be included in rents if not exhorbatent.

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Thanks for the comfort. I have family in Absecon NJ just outside AC so I know how tough it is there too. I have thought about using property managers so that I don't have to worry about the day to day issues. Will have to gauge their fee vs what I can rent the house for.

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Originally Posted by suesjools

Hey David, not a homeowner here, but I do sympathize, being 43 and jobless; the economy is rotten here as well. I try not to let it bother me, though it does sometimes; as my late grandmother used to say, "everything goes in cycles," so I have faith this latest mess will pass and things will get better.

Hang in there and stop by the Cellar for drinks on the house. :)

Happy holidaze and many sales to all,

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Thanks Sue, I wish the cycle will hurry up lol.

Well good luck (and a lot of it!) I really hope you are able to make the best decision and have the right outcome for you.
Sometimes you just have to take the plunge (whatever that may be) and other times you get pushed and have to just work from that. One thing I do know is whenever I need to make a decision about something I really need time to think it through. But in a natural, fluid way, not under duress. When under pressure it is hard to think clearly, things come to you more I find, when the mind is relaxed and freed up as it were. In the wee small hours for example!

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Originally Posted by Salomina27

Well good luck (and a lot of it!) I really hope you are able to make the best decision and have the right outcome for you.
Sometimes you just have to take the plunge (whatever that may be) and other times you get pushed and have to just work from that. One thing I do know is whenever I need to make a decision about something I really need time to think it through. But in a natural, fluid way, not under duress. When under pressure it is hard to think clearly, things come to you more I find, when the mind is relaxed and freed up as it were. In the wee small hours for example!

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Thank you, maybe I will win the New Year lotto (poor tax) and all will be sorted lol.

These are surely tough times and selling a home now isnt the best thing any of us can do now. The folks with money are taking full advantage of the economic situation and will benefit quite nicely from others woes.

If at all possible keep the home and rent it out. If you are able to stay with family or freinds why not let someone else pay the note on the home. When you do get back on yiur feet you will still have a home with equity built up.

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Originally Posted by lodegrundrunner

Crossroads is right, don't think I've had a more difficult problem in my entire life. I seem to have been cutting my losses since my business closed nearly 5 years ago. My instincts are a bit confused at the moment, I don't know which way to turn really.:confused:

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Just remember that anybody telling you "you must do this" or "it's stupid to do that" are judging from their own priorities, preferences and fears - not yours. Weigh all ideas, welcome all advice, then make your *own* choice based on what really matters to *you*. You can ignore anything anybody else says, however dogmatic or determined. Including this. :D :D

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Originally Posted by bykimbo

Just remember that anybody telling you "you must do this" or "it's stupid to do that" are judging from their own priorities, preferences and fears - not yours. Weigh all ideas, welcome all advice, then make your *own* choice based on what really matters to *you*. You can ignore anything anybody else says, however dogmatic or determined. Including this. :D :D

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Two thumbs up! :)

Kim dogmatic? Never... :)

Good luck David and happy holidaze to all,

Sorry I haven't been around much for the last number of weeks folks but the old house situation has been highest priority and now dominates everything I do. I took the advice given here (after much thought) and reduced my asking price by 33k about a month ago (-54k from original listing) to try and get shot of it. After a first week of no activity I have been getting steady viewings since and the auctioneer is hopeful of an offer this week by at least 2 interested parties (fingers crossed).

Reports from the papers today indicate that the Irish property fall is now over but that prices will remain at this level for a few years to come. I believe that the UK has already seen some prices rise recently so hopefully all economies are on the mend.

I will still be missing a lot over the next few weeks/months but hopefully will be able to check in every now and again. For anyone who's birthday I missed please accept a belated congratulation on whichever milestone you have achieved.

Nice to see you, David!! Good luck with the house sale!! Not easy most places, right now.

Everything crossed that you achieve that sale! :) The chance to move on and lose the stresses and worries will be well worth it.

Hi David, lovely to see you managed to find time to pop in here and say hello. My fingers & toes are crossed for you too x

Nice to hear from you, hope the sale goes through :)

Thank you all for the good wishes, I hope to be back here as soon as I can :)

Hi David,

Good to hear you are nearing closure with your selling decision. It should bring you much relief from the ongoing issue.

Although not easy to realize a loss of value for a property. So many people going through that situation.

David, may the luck of the Irish be with you. :)

Happy St. Paddy's Day and best wishes for many sales to all,