Daydream fund challenge part 4

phoebe1989seb

What happened to putting the house up for auction idea CTC? Apologies if I missed something

Surely that would be a quick way of dealing with things - although not necessarily guaranteed to sell as evidenced by a house in our old village which failed to sell with a guide of £190k.

The upside was that a couple of months later it sold on the open market for £215k That was in a terrible state - galloping damp, thatch in need of replacement, new kitchen/bathroom required etc.....and on a busy road. Even fully renovated I doubt it's worth more than £240k.

Why put yourself through more aggro? Just get it sold asap and enjoy the ranch......

Davesnave

CTC, you shouldn't let anything ruin your health if you can avoid it. As Fay says, panic attacks are very scary, feel almost exactly like the real thing and leave you drained, emotionally and physically

But there is another way to look at your situation. Yes, the new owners of the big place next door may be flexing their muscles, but if their plan is to 'gentrify' the site, then that will ultimately benefit you too, when or if you sell.

I can't remember now what you said the place was to be used for, but even if it's not what you'd prefer, it's still probably better than having the site lying empty and decaying with a big question mark hanging over it.

Ultimately, the site's owners also need your cooperation. They may not know it yet, but the odd bonfire when the wind is in the right quarter might bring this home. Just one example....;)

COOLTRIKERCHICK

we were going to put it into the may proper auction with a local estate agents, but with us having a bigger work load, and basically time just running away, we didn't have a EA.. plus hubby was still wanting to see if we could do other option, and hold onto the house..


the house does need major work, plus even a bit of 'tarting up' to even entice the fixer-uppers to be interested, and for us to potentially get a higher bid than what it would fetch now...


even if we got to 'gloss' over and 'hide' things to give a better first impression. you will still have the blaring obvious of needing new windows, new render on the pine end etc...


the next auctions are in July and September...

choille

Free Listing so on with the photoing.

It's a quandary CTC - but best to decide one way or t'other, T'is indecision that's the draining thing. Keep or get shut of?

phoebe1989seb

CTC, did you get as far as getting a valuation for auction sale purposes from the EA? Do you know what fees would become due if you sell via auction/fail to sell? Do you have a *bottom line* price you need to achieve?

Apologies for all the questions, lol, but if you can afford to let it go via auction I still think that might be the preferred option, but only you know if you can afford to do it......

I forgot to say previously that our last house also failed to sell at auction before we purchased it. It was probably in slightly better nick than yours, insofar as the PO had re-thatched it and installed a new oil-fired boiler (in the leaking, dilapidated outbuilding though!), as well as removing all old internal plaster and replacing some rotten timbers (many ancient, extremely holey ones remained - think more hole than beam - but our buyer's surveyor wasn't bothered, probably because the PO had strapped them using a *belt and braces* approach )

We bought a house with no plaster, no kitchen, rudimentary bathroom, rotten windows (over 20), terrible damp issues, concrete floors, a tarmaced garden that resembled a carpark and an attached outbuilding that was not only letting in water through the tiled roof, but was in serious danger of collapse......oh, and it was on an A-road

Despite not having particularly deep pockets, we bought it for around the auction guide price. With the benefit of hindsight I think we paid too much, but DH fell in love with it despite all its flaws, as someone may well fall in love with yours......

Until you try it, you'll never know

ferretkeeper

COOLTRIKERCHICK wrote: »

Fk, don't even think i have the energy to look into it, yes I know we are called the gypos. At the end of the road... But I have broad shoulders ( up until now) and not doing a stroke of work to this place means every penny has been saved/ spent at / for the ranch..

Its is time to be firm with myself and the family and get the foook out if here...
As both our boys were there and witnessed what happened yesterday it frieghtened them too, so maybe now they will start helping and listening.

I think big pots of b&q valspar paint will be good to just freshen up everywhere, and any damp patches of the ceiling will be just covered up lol...

The thing is now, I bet they will not allow skips etc now in front of the houses etc..

Re- access.. If they refuse car parking/access etc then it would be a personal matter between us and them, which would mean a legal battle..which will cost us/4 houses .. I think they legally got to give us access, but unless I see their deeds I don't know if it is vehicle access

Sounds like a plan, a lick of paint can hide a multitude of sins! If you decide to go for it, Be a good idea to get the house in auction as soon as poss, lots of places round here haven't sold first time recently, although that may be down to time of year as much as anything.

Would you be able to look up the deeds to the factory online? if it's the same as I'm thinking it only costs a few quid, I've done it on several properties, although for one big place (with lots of land) I had to go to the swansea land registry office to look at their physical map which was to big to scan/upload!

And come to think of it wouldn't they have to change your (and your neighbours') deeds if right of access is being restricted where it wasn't before? I might be totally barking up the wrong tree, what does it say in your deeds about access from that road? Thing is you couldnt access your house any other way, it'd never be allowed straight off the main road...how can they deny you?

COOLTRIKERCHICK

No we didn't pheobe, the EA was booked to come here ,but we cancelled it,

We were going to put it straight into auction with a reserve, as long as we get close-ish to what we owe on it, we can take a hit, the EA did tell me what their fees are, but I have forgotten now,

Its our own fault really, as we have got into a comfort zone with the 2 properties, and if we had sold earlier I would not be going through all this, as I have said before they are prob giving us the push we need to get out of this place...

I have carried on today with 'sprucing' up the bathroom and will go to b&q tomorrow to get some of their valspar sample pots as 2 of them will paint all the tong and grove, bathroom is half tong and grove and half wallpaper which has desperately needed doing, so I have stripped that off, and will paper that so that will be that room sorted and freshened up, I have also taken the old lino flooring up, and even though the floor boards are a bit splintetered and has gaps, I am going to sand them down .. Have also noticed a bit of woodworm so fingers crossed a nice big bath mat will hide that... ( once its sold not my problem lol)

There is nothing I can do with the windows... They are too far gone to even attempt to try and hide the condition of them... But a developer will ripe everything out anyway...

COOLTRIKERCHICK

Fk. The solicitor we used to buy this place died, and his practice closed, so I am going to have to find out where the deeds are?, they might even be with the building society as the place has a mortgage??? This is something I am going to have to find out next week.

I know on our deeds we had to allow access through our garden for the old tracks to be maintained lol.....

Yep going to phone building society, or make an appointment to go into branch with hubby to ask a few questions etc

choille

CTC deeds will be with the mortgage provider as they technically own the property.

B&Q have some really great offers on at the mo - the laminate flooring is mega cheap as are some of their Dulux paints.

Chilling wind here - supposed to get snow tonight. Indoors confined to listing so I am angsty - I am an outdoors bod really. Got the stove lit so it's cozy in the van at least.

COOLTRIKERCHICK

choille wrote: »

CTC deeds will be with the mortgage provider as they technically own the property.

B&Q have some really great offers on at the mo - the laminate flooring is mega cheap as are some of their Dulux paints.

Chilling wind here - supposed to get snow tonight. Indoors confined to listing so I am angsty - I am an outdoors bod really. Got the stove lit so it's cozy in the van at least.

thanks, I thought they might, but wasn't too sure..


will cotact tem next week, to find ot what the procedure is..