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Selling a non-standard construction bungalow
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# 1
vicsmoxey
Old 21-03-2012, 4:33 PM
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Default Selling a non-standard construction bungalow

Edited as query dealt with

Last edited by vicsmoxey; 22-03-2012 at 8:25 AM.
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# 2
kingstreet
Old 21-03-2012, 4:36 PM
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What do you have it on the market for, compared to a traditional brick/tile version?

Is it repaired and carrying a repair certificate, or is it in its original condition?
I am a Mortgage Adviser. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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# 3
ognum
Old 21-03-2012, 4:53 PM
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Selling this type of property is a real problem at the moment. It may not be mortgageable so that only leaves cash buyers.

why would a cash buyer sink their money into your property? It may in the end only be worth the plot value.

If you have inherited it then it was never money you had or planned for, your decision sell it for what you can get, may be low but at least it's sold. Rent it out at least you are getting an income. Stick with it but I doubt the market will improve for this type of property.
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# 4
kingstreet
Old 21-03-2012, 5:01 PM
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I'm not sure if a typical standard construction bungalow would go for the 220k you mention, or this is the figure for what a repaired version of yours would fetch?

TBH chances are this property is unmortgaeable in its present condition, so it may be worth getting formal quotes for repairing it and establishing what it will be worth afterwards.

Then talk to the local council about outline planning permission for demolition and building of another property on the site.

As things stand, I'd be marketing at around 75% of the price of a repaired unit and expecting to achieve between 50% and 60%. If you aren't in a position to do the work, you're going to have to cut enough profit into the deal for someone to get it done and sell it on.

Sorry. Probably not what you want to hear.
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# 5
ognum
Old 21-03-2012, 5:24 PM
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Would you be prepared to say where it is or even post a Rightmove link?

Is the house was part of an estate you paid probate on? If the amount you get for the property is less than that declared HMRC you can get your over payment back.
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# 6
Richard Webster
Old 21-03-2012, 6:28 PM
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If the estate agents haven't sold one recently they are perhaps being overoptimistic.

Round my way "defective" PRC houses would be worth around 60% of similar traditional house value.
RICHARD WEBSTER

As a conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability except to fee-paying clients.
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# 7
lincroft1710
Old 21-03-2012, 7:11 PM
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Is the plot large enough to accommodate a 4/5 bed house? If you could get detailed planning permission it may be worth selling as a potential redevelopment.
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# 8
Itismehonest
Old 21-03-2012, 7:28 PM
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It's on trovit
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# 9
jennifernil
Old 21-03-2012, 8:06 PM
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Seems very expensive for the size.
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# 10
cattie
Old 21-03-2012, 9:08 PM
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It does sound expensive to me for a non standard construction & I live in a London suburb so am used to prices being fairly high. There are some Laings Easiform houses not too far from where I live, quite spacious from what I've seen on the RM pics, but mortgages are not always freely available for them & I believe their is a limit on the amount you can borrow to buy one, so they don't sell very fast in this day & age of restricted lending.

I think the idea of getting planning permission for a nice house in it's place a very good idea.
The bigger the bargain, the better I feel.

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# 11
phoebe1989seb
Old 21-03-2012, 9:17 PM
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Another vote for getting planning permission to demolish and build an attactive new house......also feel it's overpriced for what it is/size........
Paid off mortgage early - mortgage-free since 2007

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# 12
jo444
Old 21-03-2012, 9:54 PM
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Before you run away with the idea of a new house you need to check with the planning department of the local authority if they are likely to give you the go ahead. If others in the road have gone through the route of renovating their houses then a new house could be out of character with what they would call the street scene.

Check how much it will cost to renovate the house - google 'Woolaway construction', there seems to be quite a few of these when I have just done. Get quotes on how much it would cost and also valuations from other estate agents on the completed work.

Then get in contact with a Town Planning Consultant who would be able to check the viability of a new house with regarding planning. If they say yes then get an quantity surveyor to do a rough costing for you. Also there could be a time issue on this.

Otherwise you might just want to cut your loses and sell it now without the hassle of the above or rent it - you are in a holiday zone could most probably rent it out through the summer months for quite a bit however watch out for the tax side on that!
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# 13
jo444
Old 22-03-2012, 5:34 PM
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Shame original post now deleted!
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# 14
kingstreet
Old 22-03-2012, 6:09 PM
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Quote:
Originally Posted by jo444 View Post
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I wonder why? It would have been useful to other potential sellers looking for that construction type in the future.
I am a Mortgage Adviser. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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