Q:This is the situation – I have moved in with my fiance and so my house is now free to sell – we have no mortgages. We wanted to sell both of ours and buy one of our own. But after being on the market with an agent for 12 weeks I've not had any viewers, not even with a price drop! So should I keep dropping to chase a sale from someone or rent it out?
You then prevailed on the OP to "please use a fully managed service". Have you any idea how often landlords get let down by incompetant or dishonest agents? There is a saying that if you want a job done properly, do it yourself. If you are going to get into the property letting business, you should do your homework. The unfolding disaster in the BTL market has much to do with people putting too much trust in builders, agents and other 'professionals'.
On the subject of manners, I critised you for your foolish and ill considered advice. That is not the same as being rude.
I did post a long answer to this but was timed out!
1 – the question was 'should I sell or rent'
2 – the OP did not give prices involved or area or post a link for general comments on the property.
3 – A professional tenant can find a novice landlord and that can cost £1,000's.
4 – I'm not entering into a slanging match I just wanted to defend myself and point out that I am not a HPC bully.
Whilst I realise prices are going down the OP was looking for advise on sell or rent – I gave some ideas – not orders, trying to help.
Also renting out is not 'give us your money' and if you have no knowledge of renting or of legal requirements the 15% to a letting agent is an investment as it could save them ￡'000's if they did something wrong.
As for living on this planet I do – but I do it with manners unlike you.
You advised the OP on how to sell his/her house. You came up with a ridiculous ephemism for the state of the market (Prices are as high now as they will be for the short term future [and probably longer]) and I strongly condemn you for your weasel words. The OP needs honest advice, not platitudes. If he/she hasn't had a viewer in 12 weeks, one has to take a hard look at the asking price.
You then prevailed on the OP to "please use a fully managed service". Have you any idea how often landlords get let down by incompetant or dishonest agents? There is a saying that if you want a job done properly, do it yourself. If you are going to get into the property letting business, you should do your homework. The unfolding disaster in the BTL market has much to do with people putting too much trust in builders, agents and other 'professionals'.
On the subject of manners, I critised you for your foolish and ill considered advice. That is not the same as being rude.
Whilst I realise prices are going down the OP was looking for advise on sell or rent – I gave some ideas – not orders, trying to help.
Also renting out is not 'give us your money' and if you have no knowledge of renting or of legal requirements the 15% to a letting agent is an investment as it could save them ￡'000's if they did something wrong.
As for living on this planet I do – but I do it with manners unlike you.
Prices are as high now as they will be for the short term future Doctor to dead patient; 'your pulse is as low as will be for the short term future (and probably longer)'.
or to do a big viewing weekend and request sealed bids within 14 days Binky hasn't had a single viewer in 12 weeks and you now want all these non existant viewers to put in sealed bids.
so they can do a large advert in local paper and post out new details to customers on their books The estate agent has a window full of unsold propertiy and you want them to splash out on a full page advert for something that clearly no one is interested in. Why not have it advertised in Country Life?
if you do rent please use a fully managed service If you do rent, please allow an agent to cream 20% off the top for 20 minutes work a year.
Did it occur to you that a property that has failed to get a single viewer in three months might need a price adjustment?
You can sell your house for less than everyone else is asking, or you can be everyone else and chase the market down. Your choice.
Prices are as high now as they will be for the short term future (and probably longer) so maybe its worth marketing house as offers invited over ￡x or to do a big viewing weekend and request sealed bids within 14 days – it maybe worth moving agent to do this so they can do a large advert in local paper and post out new details to customers on their books.
This will at least give you ian dea of what you could sell it for now and then you can decide if you wish to sell or rent it out – if you do rent please use a fully managed service and go and talk to an accountant about tax as you don't have a mortgage to offset any profit.