Property In need of Renovation

Emily145

Hi Everyone,

Im stuck!

I have a property that requires renovation works...well I say that however I have started and now the property is at the stage where plaster and final decor can go in. I am been forced to sell due to Halifax's mistake...but thats a different issue!

The main thing is that I dont think I would get any interest through an Estate Agent and all Auction companies seem to want to set the price extremely low. Do you think it is worth going to property developers direct? If so how do I..in writing or via email? Should I just do a google search...Please help!

Thanks

Emily

fishpond

Try an estate agent as they sometimes have developers lurking in the background.
Can't say what price you are likely to get though:eek:

asharon

Why do you think you wouldn't get any interest through and ea ? Lots of people like do it upers.

Mine was sold as a partially completed renovation which meant it had been wall papered really badly and needs gutting.

Get them round and see what they say. Get one that doesn't charge if no sale and then you've nothing to loose.

phoebe1989seb

Depending if it's mortgageable it should generate interest as long as it's priced realistically.

We purchased our current house two years ago as a half-finished project. It was a complete wreck - the stone walls had been stripped internally and required plastering, there was no kitchen and only an ancient, rudimentary bathroom. The electrics needed re-doing and half the downstairs had no lighting.

It had previously been offered at auction and despite a fair amount of interest, remained unsold as it was deemed un-mortgageable. We saw it on RM, didn't need a mortgage once our house was sold and the price we paid reflected the work required........a heck of a lot, LOL :rotfl:

A house in a village close to us was for sale as a project in 2011. It sold for £265k, was gutted and some of the first fix done by a builder - but no kitchen, heating or bathrooms - then put back on the market this year, half-finished for £475k. I don't know the sale price, but it went SSTC within a month......so there are people out there looking to buy project houses!

If I was the OP, I would in the first instance consider selling via a regular EA and if that fails, try an auction house........but most important is to pitch the price realistically