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Advice needed. Should I buy it?
LJW_2
Posts: 354 Forumite
Hi, all hope you can help. I have been offered my grandmothers house to buy and can't decide what to do. The house is too small for me to live in without an extension which I can't afford. So should I buy the house and rent it out,hoping that in the future it will be worth more or should I buy it, do it up (cosmetic things only) and sell it for a profit? or should I not bother at all? I have been offered it for a little cheaper than the going rate.Any advice would be great as I need to get this sorted. Also advice on the right morgages would be good as I haven't dealt with this before.
Thanks
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Comments
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Advertised correctly, it can sell for a good price without the work.
Ask the EA to run it 'in need of modernisation', set a very reasonable 'offers over' price and organise block viewings to arouse the competitive streak in people.
You do already have an offer on the table but I would still get three EA valuations to check how reasonable that offer is. You can sometimes be surprised by the current going rate.
Everything that is supposed to be in heaven is already here on earth.
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