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Sell as a block or single flats?
ClimbingChillie
Posts: 1 Newbie
I'd like some advice on selling to developers / landlord companies.
I currently live in a converted terraced town house that is 4 flats. All four private owners are looking to sell and we also own the freehold.
Is there any point us trying to sell together? Will developer be interested? And what are the pitfalls? Do we collectively have a better position than alone?
The area we live in is full of bedsits, DSS properties and other low rent buildings.
Thank you
I currently live in a converted terraced town house that is 4 flats. All four private owners are looking to sell and we also own the freehold.
Is there any point us trying to sell together? Will developer be interested? And what are the pitfalls? Do we collectively have a better position than alone?
The area we live in is full of bedsits, DSS properties and other low rent buildings.
Thank you
0
Comments
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My take on this is that it will be more to the benefit of the owners of the worse flats to sell together to get a quick sale and more to the benefit of the owners of the better flats to sell alone.
Developers will pay less I am sure, but the worst scenario ids if a developer buys 2 or 3 of the 4 - then they can really cause problems and make the remaining property unsaleable on the open market.You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
Developers buy bulk properties for cheap and sell them individually to make a profit. If they offer on the whole property they'll need margin in it... 100% sell them separately.
Unless
1) They are in terrible condition and simply won't sell privately
2) You need the money fast.0
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