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Selling property - do the work or reduce the price?
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Insitu tenants may be a greater concern for perspective buyers. Have you considered marketing the property when it's empty?0
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Just to update, we have asked the tenants to leave and are going to do the work ourselves/alongside trades and re-market it. I don't think a general clean/spruce up would be enough for this flat if we want to attract the highest offers.0
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JimmyTheWig: Thanks. How do I know if its the inconvenience or the cost that is the biggest issue? I think at the price it is at, it must be a hassle thing, because the work wouldn't be an astronomical amount (though I realise the fact that it needs work limits the market somewhat). My estate agent indicated that ready to move in flats are flying off the shelves, so maybe people don't want the hassle even if they can afford it?
It could be a cash flow thing. I might be able to borrow an extra £10k on my mortgage but having £10k in my bank to do the work myself is something else.0
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