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Property/DIY

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Original poster

Need to sell my house after 8 months

22 replies

Magenta999 · 14/01/2020 02:16

Hello, I bought a house 8 months ago, which seemed to be perfect for me and my son. Especially the fact it's the first time we've had our own garden. However, as time has worn on its increasingly evident that we have some serious issues with our neighbours which have escalated into me and my son being threatened outside our home. I've reported everything to the council and the police but they are not taking me seriously and I feel totally unsafe here.
Are there any penalties for re-selling so soon? I think I will break even hopefully but I'm wondering if there are any legal reasons why you cant re-sell relatively quickly? Also, what should I tell the estate agent is my reason for moving?

OP posts:

zebra22 · 14/01/2020 02:30

No penalties for selling so soon but you have to declare any disputes with neighbours in the legal pack

zebra22 · 14/01/2020 02:31

What about penalties on your mortgage for early redemption?

Original poster

Magenta999 · 14/01/2020 02:44

Thanks for answering. If I stay with the same mortgage provider and buy a new house will I avoid early redemption charges?

OP posts:

cabbageking · 14/01/2020 03:02

No one can tell you about any penalties on your mortgage. You would need to contact them to check out what you can and can not do.

You can resell when you wish

You have to declare the problem with your neighbour as pp said and hence this may impact on the price and who wants to take the risk of living next to a problem neighbour.

Original poster

Magenta999 · 14/01/2020 03:10

That's really worrying me. According to the council the case is now closed though and they regard it as resolved.

OP posts:

cabbageking · 14/01/2020 03:18

You have to declare it on the paperwork SPIF as a legal requirement.
You have made a formal complaint, involved police etc a so must declare it or leave yourself open to being sued by the new owner for with holding relevant information.

TheTeenageYears · 14/01/2020 03:53

There is no reason why you can’t but extremely unlikely to be able to recoup all legal, search, valuation, stamp duty etc costs especially in the current market which could have a long term financial effect.

Is there any chance that the issues with the neighbours predate you moving in? If there is and it wasn’t declared on the form there is legal recourse from the purchase just as there would be if you don’t declare a problem and any buyer is subsequently affected.

Like all home related legal matters though you would have to pursue any claim via the courts which could take years to resolve, same goes for you if you choose not to disclose. The buyer would have to pursue you through the courts.

Alexalee · 14/01/2020 10:04

I would echo the pp... was the issue before you moved in and not declared? If so you could recoup any losses from the previous seller if they didnt declare the issue

Original poster

Magenta999 · 14/01/2020 10:20

The issue was definitely there before I moved in but it was not explained to me at all. I don't think I could bring myself to pursue legal action on another individual though

OP posts:

Crawley65 · 14/01/2020 10:23

I put my house up for sale within four months that of moving in. It sold quickly and surpringly no one ashh KB Ed why I was selling so fast. So glad I did it. I broke even as I had some work done on the house and so the house was valued and sold at a slightly higher price.

TiddyTid · 14/01/2020 10:24

What is the issue with the neighbours? Will it get better?

You will probably be able to move and not incur penalties on the mortgage as long as the next property is suitable. Check out the mortgage illustration - should be a section detailing it there.

SheChoseDown · 14/01/2020 10:43

We're on a 2 year fixed mortgage, our financial advisor informed us we'd incur fees if we broke this agreement.
I don't know how much though.

Ilikewinter · 14/01/2020 10:46

We moved house whilst on a fixed mortgage but we ported it and then had to take a second smaller mortgage for the additional we needed. It all depends on what your mortgage providers T&Cs are.

RiddleyW · 14/01/2020 10:53

I’d have thought biggest loss would be the stamp duty hit. I’ve thought about selling our house a year after we bought it but can’t afford the stamp duty again so soon

Original poster

Magenta999 · 14/01/2020 11:25

My house is below the stamp duty threshold. I've spoken to the mortgage provider and it seems a similar answer to above - they would port the original amount which is on a fixed rate, then the extra amount needed would be a separate pot. As long as I get a new property within 3 months and stay with the same mortgage provider I wouldn't incur any fees, which is a massive relief.
The issue I am having is because I reported a neighbour to the council because they have been dumping large quantities of business waste in the street. The owner figured out it was me because I'm new I guess. He went absolutely ballistic and I'm genuinely scared of living here now.
The council have suggested an online mediation package. I'm guessing if I do this then I can say that the issue has been resolved though, in terms of declaring this to the prospective new owner?

OP posts:

Mumtown · 14/01/2020 11:33

It would be pretty awful of you not to tell prospective buyers though.

Slightlysurviving · 14/01/2020 11:55

I think you need to declare and state resolved. We had similar selling the last house. A new neighbour moved in behind and tried to send us invoices for access even though we had legal paperwork to prove our side. Still had to declare as he went to a solicitor to claim off us.

misspiggy19 · 14/01/2020 11:57

The council have suggested an online mediation package. I'm guessing if I do this then I can say that the issue has been resolved though, in terms of declaring this to the prospective new owner?

^Regardless if resolved or not you will still need to declare it to the buyer.

Dinosauraddict · 14/01/2020 13:26

Yep echoing PPs that even if it's 'resolved' it still has to be declared. Personally, as a buyer, if someone was having problems with their neighbours so bad it has been reported to the council and police and they're trying to move out after less than a year - I wouldn't go through with the purchase! The only thing that might help is if they've already ordered searches etc by the time they get the Property Information Pack. Some people would be more focused on the house itself and already sunken costs. Maybe.

Bogoffrain · 14/01/2020 13:28

You will have difficulty selling, you will be required to state that you are suffering asb from neighbours

JeffreysWorkTrousers · 14/01/2020 14:55

So has this been a one off neighbour going mad at you for reporting him and you are now just fearful? (which I totally get)

See a conveyancing solicitor, explain the entire situation and see how it can be worded on the legal sellers pack to say it is done and dusted unless of course you are being threatened every time you see the neighbour. But still see them.

We did this when we had alcoholic neighbours and needed to move for school catchment, they only had issue with us, no-one else. We saw a solicitor and declared it all but we sold to a cash buyer who was adding it their portfolio so didn't care about the divorcing couple who incidently sold their house 6 months later.

cabbageking · 14/01/2020 16:35

You can have issues with neighbours, arguments, words etc and you don't need to declare them on a SPIF. Barking dogs, odd party, baby crying , weekend of noise etc

If you have a boundary dispute, problem with shared areas, repairs to gutters and who pays etc or if you send them a letter re a complaint, refer it to the Council, Police or other then you need to report it.

You wish to move because of the neighbour and hence it would not appeared to be resolved?

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