We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
selling house without an agent

soolin
Posts: 74,015 Ambassador


Firstly I apologise that this is at the moment a bit of a vague rambling question, I'm still trying to think it all through in my head. basically though I wonder if it is possible to sell a house yourself using an ad in the paper and a solicitor?
The very quick explanation is that my dad is in a care home which is privately funded and he owns a property which needs to be sold to pay for the fees. The house is in a very poor state of neglect and originally I had intended to renovate it and let it out to cover the fees but also retain capital so that in the event of Dad needing more care the hosue could be sold at that point to release more funds.
I've had two agents look at the property and they both gave exactly the same valuation of approx £180 as a renovation project, between £240k-£250k completely renovated. They both said that the costs of the renovation would make it uneconomic to try and do it myself and that I should just sell it as a renovation property. Both also said they could probably put me in touch with a developer who would take the house immediately at £180k.
being a complete novice I assumed that if someone else could do it up then so could I and I got builders to come and quote. Several said the house was needing around £50-£80k worth of work. One made me a cash offer of 180K. A neighbour has also asked me what sort of figure I wanted for a quick sale as they were interested as they were n the trade..and offered me 180K as well.
Sorry I know this is getting a bit of a saga but I'e nearly finished, I hired a surveyor who I know and he spent hours at the property giving it a complete survey. he has prepared a written survery which states the house is dangerous and in need of substantial repair the costs of which are completely beyond my means. Everything needs doing from a new roof, a complete rebuild of the loft and dormer extension and the kitcken extension currently held up by metal supports should be demolished immediately due to the danger of collapse. He said I should take one of the offers and cut and run as the difference between market value of this as a renovation and as a completed project is less than the costs of doing it up in the firts place. he said a builder would need to buy it as a self financing project as he will absorb his own huge labour costs. he suggested I go back and see if any of the builders or neighbours will go nearer £190k+
My real question is as there appears to be interest in this property already (it is very well located) could I have an American style open house for a few days and invite offers for the property that would go to a solicitor? I would obviously need to allow all interested parties access for a survey or whatever else they needed to do, plus I would have to talk to a solicitor about how to manage this and set deadlines etc. This way would save me estate agents fees..and dad needs all the money he can get to keep him in the home of his choice. Is my idea barmy..or have I overlooked anything vital?
The very quick explanation is that my dad is in a care home which is privately funded and he owns a property which needs to be sold to pay for the fees. The house is in a very poor state of neglect and originally I had intended to renovate it and let it out to cover the fees but also retain capital so that in the event of Dad needing more care the hosue could be sold at that point to release more funds.
I've had two agents look at the property and they both gave exactly the same valuation of approx £180 as a renovation project, between £240k-£250k completely renovated. They both said that the costs of the renovation would make it uneconomic to try and do it myself and that I should just sell it as a renovation property. Both also said they could probably put me in touch with a developer who would take the house immediately at £180k.
being a complete novice I assumed that if someone else could do it up then so could I and I got builders to come and quote. Several said the house was needing around £50-£80k worth of work. One made me a cash offer of 180K. A neighbour has also asked me what sort of figure I wanted for a quick sale as they were interested as they were n the trade..and offered me 180K as well.
Sorry I know this is getting a bit of a saga but I'e nearly finished, I hired a surveyor who I know and he spent hours at the property giving it a complete survey. he has prepared a written survery which states the house is dangerous and in need of substantial repair the costs of which are completely beyond my means. Everything needs doing from a new roof, a complete rebuild of the loft and dormer extension and the kitcken extension currently held up by metal supports should be demolished immediately due to the danger of collapse. He said I should take one of the offers and cut and run as the difference between market value of this as a renovation and as a completed project is less than the costs of doing it up in the firts place. he said a builder would need to buy it as a self financing project as he will absorb his own huge labour costs. he suggested I go back and see if any of the builders or neighbours will go nearer £190k+
My real question is as there appears to be interest in this property already (it is very well located) could I have an American style open house for a few days and invite offers for the property that would go to a solicitor? I would obviously need to allow all interested parties access for a survey or whatever else they needed to do, plus I would have to talk to a solicitor about how to manage this and set deadlines etc. This way would save me estate agents fees..and dad needs all the money he can get to keep him in the home of his choice. Is my idea barmy..or have I overlooked anything vital?
I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
0
Comments
-
What a brilliant idea soolin.......:D
If I was you and it was my parents, I would put a big for sale board outside the house or in the windows of the property. Decide on a date 2 or 3 weeks down the line, explain when any gets in touch you would like all bids in writing by your decided date. Also decide on some dates and times for viewings.
It seems that you have also had some interest.
You will save your father loads of money:T
All the best
Shaz0 -
The house across the road from me just did this. Vacant possession in nead of total refit. There seemed to be massive interest. I went over and had a nose during the home open. It went to sealed bids last week and the sold sign is now up. I'm not sure of the price it went for. Generally I would say taking into consideration risks for going over budget and time, you can make better money just auctioning it off rather than take all the risk and effort doing it up yourself0
-
And there are plenty places to get a HIP, your dont need an agent for them either. Go for it!0
-
david29dpo wrote: »And there are plenty places to get a HIP, your dont need an agent for them either. Go for it!
That was going to be my next question..without an estate agent where can I get a HIP done?
Thank you all for the advice and support so far.
Strangely enough I left my number with several of the neighbours yesterday as there is a full skip on the road and I wanted to let them know I was contactable if there were any problems. I've had a call today from someone to say he had been interested in the property but didn't know how to contact me and the neighbour had just given him my number. I'm meeting him at the house one evening this week, so wish me luck. (Oh and I'm taking my OH along for safety, just in case as I've no idea who this person is).I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
Where outs are you? PSG and national.0
-
I think you should try to go for sealed bid, since your house is in run down status there is not much an agent can say about it anyway.
Roger0 -
Yes - there's no real need for an estate agent (or even a solicitor, as I've just learned!!!).
If you're happy that you can find a buyer, and that you can manage the relationship with them during the purchase process, go for it!
The fact that you've had so much interest is a very good sign - I'd recommend you contact the people who've offered £180k and tell them that due to the amount of interest you've decided to go for sealed bids, and set a deadline for submission.
This encourages them to bid the highest amount they would be willing to pay - if you still only get £180k you've achieved the valuation figure, but there's a good chance that at least one person will bid higher if they're genuinely keen.
If you think that advertising in the paper etc will help generate even more interest, go for it... but the renovation market is slightly different to normal house sales so I don't know whether that's the best place to reach developers (might be, I just don't know!).
Slightly bizzarre, but when I was selling mine I listed it on eBay (bit of an experiment), and had a lot of enquiries from developers looking for their next project. The flat was newly renovated, so completely unsuitable for them, but yours sounds perfect!Mortgage | £145,000Unsecured Debt | [strike]£7,000[/strike] £0 Lodgers | |0 -
Funny how it's always the same particular thread subjects that attract the most spam.
Reported.Everything that is supposed to be in heaven is already here on earth.
0 -
I'm meeting another potential buyer tomorrow so it looks hopeful. Again thank you all for the sensible suggestions, the spam will be reported as usual.
SooI’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
spam. reported0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.6K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.6K Work, Benefits & Business
- 598.3K Mortgages, Homes & Bills
- 176.7K Life & Family
- 256.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards