loan or equity release or???

Tixy

Has he had no offers at all?

You'd think property developers would be interested and have offered if there is potentially £40k / 25% profit in it (say offer £135k, spend £20k and sell for £195k).

bradrock

No zero offers.

AndyT678

Tixy wrote: »

Has he had no offers at all?

You'd think property developers would be interested and have offered if there is potentially £40k / 25% profit in it (say offer £135k, spend £20k and sell for £195k).

Sounds like easy money doesn't it! My guess is either it will be worth £160 when done up or will cost £40+ to do it up. That;s why the EA is saying it's worth £100 - £110k now.

macman

Those figures make no sense if it only requires £20K to renovate.That would be a 400% profit on the investment.

macman

Those figures make no sense if it only requires £20K to renovate.That would be a 400% profit on the investment. Either the renovation cost or the after renovation value are wrong.

David301

Put it through an auction as is with a reserve that you are happy with. This will give you an idea of what people are really willing to pay. Estate agents are morons. One will tell you £120k the next will tell you £140k.

It is obviously too expensive for what it is as you haven't had a sniff. Bungalows go quick as a rule of thumb and the figures that have been quoted are all over the place.

Auction for the win!!

:T