House -what would you do ?

[housemovehelp]

Situation
Just tried to part ex our house and due to legal issues with unadapted roads it fell through (see 'unsellable' house in legal thread)

So here's our situation , bought this house 4 years ago for £142k and have £112k left on it. We have £150,000 cash (inheritance) now in savings which was meant to be our deposit . We love the house but dislike the area and dh absolutely will not stay here he hates it . The experience has really messed with my sanity the last few moths so I'd like to leave it til next year before we do anything

So do we...

Pay off the mortgage here and then rent it out next year , so obviously losing a lot of our capital for the next house

Do the same but with a buy to let mortgage and keep our capital

Try and sell it the traditional way and hope someone less picky buys it who isn't bothered about the issues (other people on our estate seem to have no bother buying and selling) but then we risk the situation we've just had happening again

Any other option ?

Just put it on the market normally. Shouldn’t be a problem to sell for the right price if other properties on the estate go without a problem.

@JoJoSM2 I hope so
But while the part ex was in process there was a buyer who apparently dropped out for the same reason the developer wouldn't accept our house

If the issue is that the road is unadopted by the local council, how do your neighbours manage? If they sell without issue, as your predecessors did, then that seems the way to go.

Is there a resident's association that is responsible for the upkeep of the road? Has anyone approached the council to get the road adopted?

@Mintjulia I've asked and they have no set time frame for this yet
Also . A big sink hole opened up in July in the road outside so this will probably now show up in searches?

The developer looks for houses that will sell quickly for part exchange. The issue with the road might put some people off or need further exploration so wouldn’t exchange quickly - I read somewhere they look for a properties that can be sold within 8 weeks and your’s being a bit more complex would likely take longer. It’s not necessarily unsellable so much as it might take a while to complete.

I’d try to sell through the usual process first and see how it goes.

We recently sold a property on an unadapted road. The buyer's solicitor asked a few questions but it was never a big issue. Two other properties on same road sold within 6 months as well. It might put off a nervous buyer but most will be more realistic. Never had a problem raising a mortgage.

Sorry, two other properties have been sold in the last six months, but they weren't on the market for six months!