How reliable are Zoopla property values?

hazyjo

kodys_angel wrote: »

Just had a call from Quickmove - one of those companies who buy your property cash for a quick sale. Been sent an estimated offer for 100-105...
I guess my best bet would be to put it on the market and hope someone bites for about 115 and take the hit....

This is going to be a long road...

Nobody on here will recommend any of those quick-buy companies. Beware - they also have a habit of dropping their offer at the last knockings...

Jx

kodys_angel

Thanks hazyjo.
Just want to investigate all my options... Sadly though, it looks like keeping it for yet another 2 years is going to be the only sensible option...

Putting it on the market now will mean paying half the mortgage every month until it's sold (once the tenant vacates).
Selling it to a quick sale company will mean taking a hit in the region of 10k...

I guess I should try and negotiate another fixed rate with the mortgage co for 2 years. Surely prices have to go up a little more by then!
I'm not overly bothered about keeping the place or making any money on it...

My auntie did suggest that I find out who the owners of the other identical properties are (most of them are buy-to-let) and offer them my place at a good price. Is this a genius idea, or a bad one....?

penguingirl

Do your tenants want to stay at the end of their contract? Are they good tenants? If they do/ are, I would let them stay and then reconsider all the options when they do give notice. Are you claiming back tax on your LL costs including mortgage interest (and maintenance, EA fees etc)?

pjread

if you're letting then post-tax you should at least be breaking even surely?

pinkteapot

As reliable as a blind lifeguard.