Advice on selling

[CON123]

Hi all, I have found a buyer for my one bed apartment in NFC, but for a price which is a third of what we paid. At the minute we would like to get rid of it just because we don't use it and could do with the extra cash but it isn't costing us anything as we have been renting it out each year. I am afraid that if we don't sell it's going to be worth nothing in couple of years. Does anyone think things will improve over there and we'll get a better price in a few years if we hold off or should we sell up and cut our losses? So confused.

[whitman]

I have been giving thought to the same point for a number of years now. It all depends on your circumstances I guess. I have decided to sit on my apt as the rental income covers the bills etc. and we don't lose a huge amount on it. At the moment I am fortunate enough to not need the money (although still paying a small mortgage) on the place. I think we all hope they will go up in value again but in my mind I have given a 5-10 year time period for this. I'd love to just get my money back. I've given up fighting fort noks on the maintenance etc. as you can't win. I just let it tick over to try and reduce the stress levels - i personally would rather wait and hope for the best than lose 2/3 value. Will that 1/3 make a difference to your life?

The bigger picture is the hope that the resorts stay popular and FN keep on with the upkeep. A lot of it is crystal ball time though ... I have virtually written the whole thing off in my mind, it might be a start on a pension many years down the line if it does pick up. I'll be gutted if it doesn't but i'd feel worse to sell now at a pittance to find the market does slowly improve.

[daveed17]

Whitman talks a lot of sense. I agree that any decision about selling up now at a loss depends on your own personal circumstances. I would love to sell my apartment but not at current values as I can wait a few years in the hope that I can get at least the majority of my money back. Is there anyone out there who has sold up recently and who could advise us on how to at least seek out the best price available?

[Garyjs]

Hi all, I have found a buyer for my one bed apartment in NFC, but for a price which is a third of what we paid

"buyer" is not the phrase I would use

Why not just use it as a holiday apartment, if it's worth nothing in a couple of years, that's the time to buy more

He Who Dares

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[CON123]

Thanks all for your comments and advice, you have helped me make my decision to hold on to the apartment for another few years and hope for the best outcome! Fingers and toes crossed we'll all get our money back some time in the future!